Quote from jem:
LOL!! Of course going broke "requires" a lack of discipline. Who knows whether in one year, ten years, or thirty years when their own season will change? There is a prevalent yet dangerous fallacy among younger traders that getting over an arbitrary experience threshold guarantees long term monetary success. Nothing can be further from the truth. Many of you twenty something gentlemen are in your trading/personal prime. You're living in nice apartments, dating pretty girls, and making enough money to give you the illusion of both prosperity and security. Now let's look ahead as you perfect your craft with age.
All of sudden you're now 45. You've been trading for twenty years. If skilled you may have a nice home virtually paid for, a million in your account/bank, a wife and kids. But inside you something has changed. Maybe you have an affair with that hot chick you met cross town. Then your wife finds out and voila', you're dream house...gone. Half your liquid assets...gone. The lolita that caused your life to turn into such turmoil...gone. Now you're back in that one-bedroom apartment that you started in, twenty years earlier. At 45 you clearly have more experience and savvy than you did starting out. Even post divorce, you have more money then you did back in those days of prop shop trading during the boom. But now your expectations, your longing for what you had and what you lost, places you in a position where the notion of regrouping and remembering what made you a success is as remote as the blind mans memory of squinting in the morning sun. Now you're pressing, overtrading, chasing the mythical dragon. Next thing you know, you're being sued for child support, and unable to afford an attorney, you spend a night in county jail, your jaw fractured by a fellow inmate who thinks you're some rich asshole. This story happens every day to some formally happy to be trading more than one year, now I've made it trader.
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did you hit him back?
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