A correction, please. You don't "make money consistently trading". You "make money trading consistently".
Trading for profit a fools game?
- Thread starter jwecme
- Start date
put a comma in the right place...and you can add millions...
So....after reading the posts of this thread I guess the general consensus would be that come next Thursday morning only Tiger, Phil, V.J., and a few others should bother to tee it up. Only the Jordans of basketball should show up on game day. Point is, and I think you're all smart enough to get it, is there are a shitload of people making a living doing something they enjoy and they have absolutey zero chance of being the superstars.
It's all realitive regarding money. You don't need to be a high six figure trader to be successful. What you need, is to practice the same money management in your personal life as you do in your trading. Don't trade like you have 500K when you only have 50K, and don't live like you make 500K when you only make 50K.
You want to be happy in life?....Then quit comparing yourself to the few, and start comparing yourself to the many.
It's all realitive regarding money. You don't need to be a high six figure trader to be successful. What you need, is to practice the same money management in your personal life as you do in your trading. Don't trade like you have 500K when you only have 50K, and don't live like you make 500K when you only make 50K.
You want to be happy in life?....Then quit comparing yourself to the few, and start comparing yourself to the many.
I could not have said it better.
What car do you drive?
What car do you drive?
Quote from CaptainObvious:
So....after reading the posts of this thread I guess the general consensus would be that come next Thursday morning only Tiger, Phil, V.J., and a few others should bother to tee it up. Only the Jordans of basketball should show up on game day. Point is, and I think you're all smart enough to get it, is there are a shitload of people making a living doing something they enjoy and they have absolutey zero chance of being the superstars.
It's all realitive regarding money. You don't need to be a high six figure trader to be successful. What you need, is to practice the same money management in your personal life as you do in your trading. Don't trade like you have 500K when you only have 50K, and don't live like you make 500K when you only make 50K.
You want to be happy in life?....Then quit comparing yourself to the few, and start comparing yourself to the many.
Quote from CaptainObvious:
So....after reading the posts of this thread I guess the general consensus would be that come next Thursday morning only Tiger, Phil, V.J., and a few others should bother to tee it up. Only the Jordans of basketball should show up on game day. Point is, and I think you're all smart enough to get it, is there are a shitload of people making a living doing something they enjoy and they have absolutey zero chance of being the superstars.
It's all realitive regarding money. You don't need to be a high six figure trader to be successful. What you need, is to practice the same money management in your personal life as you do in your trading. Don't trade like you have 500K when you only have 50K, and don't live like you make 500K when you only make 50K.
You want to be happy in life?....Then quit comparing yourself to the few, and start comparing yourself to the many.
I could make argument about the "zero chance" statement, but the gist is correct... It's all relative.
Nowadays, it's all about the pursuit of things that make me/us happy. The pursuit of superstardom (and all the accoutrements) isn't important, although the thoughts are not dead... it's all relative.
Good post captain.
Osorico
If you say so, and believe what you say, than it is so.
Quote from NihabaAshi:
Hi Osorico,
Thanks for the stats especially since I thought the number was around 48k for the average median household income.
By the way, I'm curious, do you have a family???
I do and so do most of my personal trading pals (institutional traders, retail home-based traders et cetera)...
(a few years ago most of my trading pals were single)
Don't underestimate the impact that a spouse has on the household decisions regardless if your a trader or have a non-trading related job
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.
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.
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.
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
Love is blind.
I'm single right now. I started trading at 19, and I tell close friends that I dont want to get married or even have a girl friend, because I know what that will mean for my trading future..(down the toilet).
If I did ever start a family, I'd ONLY do it knowing that the wife's job would be able to support us until I became consistently profitable.
- Nathan
I guess it is all about finding the right girl...My girlfriend fully supported me in trading since I started 6 years ago. I had gone from making nearly nothing(50k/yr) to making great money in about three years and have been doing consistently well for the last three years.
I work with several traders who have done well also. We have all worked hard to get where we are. I can see them earning much more in a caouple years then they do today.
I never entered trading to pull 40k/yr out of the market. I worked hard to get past that point and I continue to work hard to grow further. The sky is the limit. I think people limit themselves too much.
It truly is about hard work and persistence, and most people don't have either. I think most have been taught in life to look for the short cut to success. The "5-minute" solution, that just does not work in trading. That is why people think trading is impossible, because a lack of those attributes as well as many other attributes.
I work with several traders who have done well also. We have all worked hard to get where we are. I can see them earning much more in a caouple years then they do today.
I never entered trading to pull 40k/yr out of the market. I worked hard to get past that point and I continue to work hard to grow further. The sky is the limit. I think people limit themselves too much.
It truly is about hard work and persistence, and most people don't have either. I think most have been taught in life to look for the short cut to success. The "5-minute" solution, that just does not work in trading. That is why people think trading is impossible, because a lack of those attributes as well as many other attributes.
I drive a pick-up truck, which I'm sure will amuse some and make others grateful.
If you can figure out what the crowd is doing and go the opposite, you can make money in trading.
End of story.
End of story.