What would you do?
- Thread starter Gratitude
- Start date
First of all, thanks to everyone for your responses. It was one of those crazy weeks at work -- advising a S. Korean conglomorate on market entry strategy and was traveling overseas.
Having said that, I recognize that everyone took time out from their trading/learning/browsing to contribute to this thread and for that I am truly thankful.
While I have a great time at work and am good at what I do (or at least have managed to fool others into thinking so), constantly travling does take its toll. I dont mind the long hours but not being at home with the family totally bites.
I've celebrated my birthday in a hotel room in Dubai, my son's birthday from a hotel room in S. Korea and my anniversary from Japan.
At the end of the day it is a trade-off I've made so I cannot really complain -- only look for ways to continue to engage myself while finding something that allows me more time with my family.
As some folks guessed, I am in the professional services field (no... not those kinds of prof svcs
I was previously in a corporate environment and found it too slow and intellectually stagnant..for me (not a general declaration - just a personal preference).
So this time around, if I change careers I don't want to go back into corporate (several options exist) but try something different -- own a business, take up an interest / passion (e.g. trading).
I guess the summary of the feedback would be 'don't quit your day job' and find alternative ways to remain engaged in the markets - e.g. by looking at longer time frames.
In terms of paper trading, I guess my thought would be that there are better ways to paper trade than others. And I'm not talking about entry / exit strategies. I'm taking about - habits, log keeping, platforms to use, how much to do in one sitting etc. Again, probably many different ways to do this but any thoughts on what is most effective?
(In ending, i just want to say that I am very thankful for everything that I have and the opportunities that I've been given. but I don't think that means that I become complacent and not explore other opportunities/skills that I may develop. I am also thankful for the flood of replies and insights from everyone. thanks).
Having said that, I recognize that everyone took time out from their trading/learning/browsing to contribute to this thread and for that I am truly thankful.
While I have a great time at work and am good at what I do (or at least have managed to fool others into thinking so), constantly travling does take its toll. I dont mind the long hours but not being at home with the family totally bites.
I've celebrated my birthday in a hotel room in Dubai, my son's birthday from a hotel room in S. Korea and my anniversary from Japan.
At the end of the day it is a trade-off I've made so I cannot really complain -- only look for ways to continue to engage myself while finding something that allows me more time with my family.
As some folks guessed, I am in the professional services field (no... not those kinds of prof svcs
I was previously in a corporate environment and found it too slow and intellectually stagnant..for me (not a general declaration - just a personal preference). So this time around, if I change careers I don't want to go back into corporate (several options exist) but try something different -- own a business, take up an interest / passion (e.g. trading).
I guess the summary of the feedback would be 'don't quit your day job' and find alternative ways to remain engaged in the markets - e.g. by looking at longer time frames.
In terms of paper trading, I guess my thought would be that there are better ways to paper trade than others. And I'm not talking about entry / exit strategies. I'm taking about - habits, log keeping, platforms to use, how much to do in one sitting etc. Again, probably many different ways to do this but any thoughts on what is most effective?
(In ending, i just want to say that I am very thankful for everything that I have and the opportunities that I've been given. but I don't think that means that I become complacent and not explore other opportunities/skills that I may develop. I am also thankful for the flood of replies and insights from everyone. thanks).
I wrote a reply but it disappeared so rewriting.
Jack,
Thanks for sharing your thoughts. I do sometimes think that 'trading' is done for me. But I believe its not really done... a part of it is still alive and I can revive it.
If marriage, kids etc are what caused 'trading to be gone for me', then so be it. I would not exchange the great time I've spent with my wife and kids for anything.
However, as I said, I dont think trading is gone for me. I have resisted making the leap for the past several years - waiting till I could get a point where I can trade very small size, without ever having to trade for money and instead focusing on learning.
Again, thanks for your thoughts. Have a great weekend.
Also, one other thought.
Keep hearing that > 95% of traders fail.
However, isn't it also true that
~80-90% of businesses fail
90% of product launches fail
and I wonder what % of people achieve their life's goals?
And in each of these cases there are definite steps you can take to improve your chances of success. Obviously there are no guarantees in life but you go in well prepared, well capitalized and don't give up.
Keep hearing that > 95% of traders fail.
However, isn't it also true that
~80-90% of businesses fail
90% of product launches fail
and I wonder what % of people achieve their life's goals?
And in each of these cases there are definite steps you can take to improve your chances of success. Obviously there are no guarantees in life but you go in well prepared, well capitalized and don't give up.
Right on G!
Well said!
Well said!
Gratitude,
Sounds as if you have made up your mind.
If you are looking for an additional data point to support your decision, Malaka56 posted an excellent thread on the personality type of traders.
If you are an NT, I would say, don't ask any questions just leave your job... you will most likely be successful!
http://www.elitetrader.com/vb/showthread.php?s=&threadid=62171&highlight=Briggs+Myers
Sounds as if you have made up your mind.
If you are looking for an additional data point to support your decision, Malaka56 posted an excellent thread on the personality type of traders.
If you are an NT, I would say, don't ask any questions just leave your job... you will most likely be successful!
http://www.elitetrader.com/vb/showthread.php?s=&threadid=62171&highlight=Briggs+Myers