Trading for profit a fools game?

Quote from illiquid:

Trading is also unique in that one can find himself making 7 figures one year and zero or negative the next as the market shifts. To those of you who think you've "made it" after your first million, think again, keep thinking, stay on your toes, and never take your eyes off the ball.
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Agree. And this is no different than working for someone else. One day you may find the company is trimming staff and you're it, your job has been out-sourced, the company is taken over and your department is no longer needed, they filed BK, the boss doesn't like you (anymore), you get demoted to mail-room, there will be no gold watch for retirees any longer; company pension plan is under funded, etc etc etc.

Keep thinking and stay on your toes.

Osorico
 
Quote from NihabaAshi:

The job he took was 72k per year and not an equal job via comparing to his 40k per year when he was single and spending most of the money he made (a party guy).

Also, he lived prior in an apartment, owned a small two passenger car (it was payed off) et cetera.

My point with the comment about the spouse is this and in no way am I saying that all single guys have such happen to them when they get married...

He got married and spouse saids its time to move out of the apartment and get a house (her hint that its time to start a family).

Spouse than saids the two person car is no longer suitable because where will the kids go...they get a bigger car. :p

He now has a car payment (he hadn't had one in over 7 years) and has a house mortgage (completely new finanical situation).

Next...soon after...she begins baking and I'm not talking about the oven in the kitchen. :cool:

Then in three years he has three kids...kind'uv spooky a little for him especially since he's no longer staying up late with the buddies at some house party.

Further, he now regrets not compounding his trading income while he was single (party guy).

Simply, his departure was all about his family and the woman is gorgeous (tough to say no too).

The only way I can see him returning to trading if spouse grants him permission. :D

I know the woman...it ain't gonna happen because she's a socialite type and the dinners, parties associated with his job suits her very nicely.

Mark
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Perfect.

I was about to say, he wanted her (and everything that comes with marriage) A LOT MORE than he wanted to be a trader. Can't say it's a bad trade-off myself (I mean, being a successful trader AND having a family is pretty much as close to "having your cake and eating it too" as you can get), and not EVERYONE can expect to get those dibs (one can hope though).

It's not totally over for'em, he can trade options, he can create (if he is ego driven) or buy off the shelf (if he just wants to make cash) a mechanical system and get pretty good results from it.

Ultimately, this and other posts prove without a doubt that trading definitely is NOT a fools game. One thing's for sure, you have better odds of winning at it than if you were trying to make money doing this:

http://www.slate.com/id/2144866

Jimmy

P.S. Got the url from Electric. Just can't resist posting it, everytime I look at it I realize how much easier we have it in this game, than he has it in his.:)
 
Quote from jwecme:

So few people make money trading, are we all deluding ourselves that one can actually make money consistently trading?

I think if most people on this forum are honest over time they have done nothing but loose money trading. People posting their P and is a sign of lack of long term profitability as no one who actually made money would feel the need to boast about it on here especially.

Trading is a mugs game for 99.99% of people. Except of course I think I can be "the one who is different". I guess that’s why we all keep coming back for more as we think we are different. Let's hope I am right.....


ps a little bit of honesty on this board would be appreciated. 99.99% of people over the long term loose money trading. Look at all the giants of the industry. LTCM, Livermore they were the best and still ended up loosing money and their sanity.
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You are right, it's impossible to make money trading. Please tell as many people as possible.
 
Quote from jwecme:

So few people make money trading, are we all deluding ourselves that one can actually make money consistently trading?
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Probably Yes, I would guess for the above question! :D
 
Quote from illiquid:

Trading is also unique in that one can find himself making 7 figures one year and zero or negative the next as the market shifts. To those of you who think you've "made it" after your first million, think again, keep thinking, stay on your toes, and never take your eyes off the ball.
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So, the answer seems also Yes! :D

Quote from jwecme:

So few people make money trading, are we all deluding ourselves that one can actually make money consistently trading?
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Quote from nononsense:

Trading for profit a fools game?
You learned something very valuable.
Your question: "that one can actually make money consistently trading?" should be replied to with YES.

It will take much more work than gullible easy-goers ever can dream of.
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Good answer indeed! :)
 
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