From great basketball players, chess champions, poker players, race car drivers, and great traders , they all love the game more than the money they earn from playing. If you do it for the money it will be a strain or struggle for you. Do it for self mastery and one day the money will come easy.
What Has Trading Given You?
- Thread starter JRL
- Start date
From great basketball players, chess champions, poker players, race car drivers, and great traders , they all love the game more than the money they earn from playing. If you do it for the money it will be a strain or struggle for you. Do it for self mastery and one day the money will come easy.
Even though I am just a newbie to the trading industry, I learned a lot of things from it.
The best thing trading has taught me is to learn to accept failures and not to chase to make good the loss. Discipline, patience and humility are some of the most important attributes I learned.
It has also changed my view of money. That there are easier ways to make money instead of doing a regular day job. Overall, it has given me a positive outlook in life despite some of my losses.
As I go on further in trading, I know the markets will probably reveal more about myself - A journey of discovery which is exciting.
The best thing trading has taught me is to learn to accept failures and not to chase to make good the loss. Discipline, patience and humility are some of the most important attributes I learned.
It has also changed my view of money. That there are easier ways to make money instead of doing a regular day job. Overall, it has given me a positive outlook in life despite some of my losses.
As I go on further in trading, I know the markets will probably reveal more about myself - A journey of discovery which is exciting.
Quote from JRL:
Hi All,
Just thought it'd be interesting to hear some commentary from some of the people on here who's primary source of income is through trading. A few questions:
01) What first attracted you to the profession?
Having my dept head (university faculty) read WSJ to me.
02) What has kept you in it?
The self selection process by terrific people
03) How does it compare to other career(s) that you may have been first involved in?
Upsides,
Everything I want is free. No noise. No anomalies. Unlimited capital extraction all the time.
downsides.
The financial industry has a lot of contaminants to stay clear of
04) What has surprised you the most about the day-to-day grind?
I am unaware of your kinds of difficulties. How easy trading is.
Critical success factors?
Using deduction and NOT using induction. Having a fully differentiated mind. The Holy Grail is very uncomplex and very rigorous. Trading is like driving a car.
05) What exactly has trading given you?
Prestige? It is nice to be part of the informal network of those who can really take the market apart at any level of capitalization. Outside of the FI, it is nice to have complete mobility.
Control?
Having personal charge of this switch is really invigorating. Not having to look up 202-456-1414 was always a fun thing. I always liked Breakfast at the Links Club in the Big Apple. Turning 32A with the A and B boats and following the rules was always fun. I liked cutting sheets on spinnakers during knock downs too. I like getting signed zero clearance for demos at shows also.
Freedom?
Sole sourcing RFP's is fun to be sure. Knocking out the receipe for this or that problem solution was more fun. Drinking bourbon with RPW was cool. Seeing Lucky Lindy try to trisect an angle for Reeve was really a well spent day. Working with Bucky for three years was etherial. Introducing EFS to JC and having him give SIB to his cabinet to read was priceless. Qualifying as a Swiss ski instructor was a great was to get a tan.
Most of all I like getting in time with the people who really going to keep turning things around; we are all free to do it
Huge cash reserves?
Its never on "empty" is the expression. At any moment you just open the valve and fill up the tank; any size tank you chose to fill up
So you ask superficial questions.
So your mind is not supporting anything.
You're stuck. Did you know that?