Why waste your time?

digitalnomad said:
After I survived the learning curve, the trading got easier, but it triggered a failed marriage, and series of failed relationships. I view everything as a probability or asset, even my own children. A woman’s vagina loses its commodity value (for me) if it takes up more than two hours of my day. I’m just a provider with a pulse, but at least I won’t leave this world broke.
More...
Had a good friend of mine who always found easy to make money and just as easy to spend it. He was always off on expensive adventures and fun times. Women were attracted to him due to his love for life, generosity and not to mention good looks. One day a mutual friend of ours who was worth several hundred million asked him ".....aren't you afraid of dying broke?" He replied.."On the contrary ....., my greatest fear is that I will die with a quarter in my pocket left unspent."
 
qxr1011 said:
imho traders are only those whose income is mostly from trading and only trading his own money
More...
Is there a specific reason for this condition? If you are able to extract alpha and capacity is not a concern, there is literally zero reason not to use outside capital.

ironchef said:
So successful people are all delusional otherwise, why play with such odds.
More...
I think most people underestimate the value of luck in our lives. The best analogy is a stochastic process for a stock price. What you are born with is the spot price, then your hard work (or laziness) is the drift and then there is volatility that takes you places.

Privilege by birth (spot price), predictably, determines most of the expected value. If you are born in a village in Pakistan, it's improbable that you are going to be managing a hedge fund. Same way, if you are born in a rich family, becoming destitute would take some serious trying.

mbondy said:
In both of your examples, all of the participants, whether or not they achieve mastery, are still awarded some level of success for their efforts.
More...
Like some other fields, trading has no real barriers to entry yet top people get paid very well. People trying to get into these field usually get by doing something menial - think of all the waiters that are aspiring actors and dancers.
 
jl1575 said:
Lets put it in this way, if you have a system that gives you signals that are 95% probability to be winner, then if you enter 10 to 20 trades in a day with the same risk limit, you are surely to have a profitable day. For a single trade, there is only probability, that is correct.
More...
Ahhhhaaahaaahaahaaahaaaaa.
they never stop coming.
 
digitalnomad said:
Still wasn’t enough for my old man who dodged the draft, and escaped communist Yugoslavia at age 17 :)
More...

kudos to your old man !

actually Yugoslavia was considered the paradise among the countries of the Soviet Block: relatively low level of government repressions, private economy was allowed to a certain degree, relatively high import of the western produced products , etc..

so it was escape from the Paradise :)
 
I believe it. Lets not forget the the infamous Yugo they once manufactured :)

220px-Yugo_Ciao.jpg
 
newwurldmn said:
That's actually not true. There are many trades where you can earn 6 figures - and without risk.
More...
I like to know where to look for those. The without risk part but don't tell me I have to start with 8 figures.
 
Last edited:
You must log in or register to reply here.
Back
Top