Would you do it all over again?

TraDaToR · May 20, 2009

Same here. I just feel stupid to have turned full time at 25, 5 years after I started trading.

If i knew, I would have skipped college and all the non sense career choices I made before.

At 26, I feel really "late" when I see that YT and TraderTX are younger and probably a lot richer, but I am really happy with what I have.

I don't interact with a lot of people in work but I feel I am gentler now that I am not forced to have social relationships. My life is definitely more balanced thanks to trading... It seems that harsh feelings like YT describes disappear after you are really established and stable, your ego, greed, tension kind of evaporate...

TraderZones · May 20, 2009

I suspect this is not a good question, since people who failed are not likely to respond, as mostly self-proclaimed successful traders seem to be the only ones so far.

The responses here in no way are representative

An anonymous poll would likely be far more of an indicator.

NazSpaz · May 20, 2009

Quote from TraderZones:

I suspect this is not a good question, since people who failed are not likely to respond, as mostly self-proclaimed successful traders seem to be the only ones so far.

The responses here in no way are representative

An anonymous poll would likely be far more of an indicator.

I think that is more of what he was looking for, obviously since most traders fail then waaay more people would be negative about it if it was a question to everyone that tried.

I think it is more interesting to have it remain with successful traders (self-proclaimed at least), asking the small percentage of the guys that figure out the game and do well, was it worth it? The guys that have achieved success are the only ones that really know how hard and how long the road is to get there, not a guy who never made it to the end of the road.

TraderZones · May 20, 2009

Quote from NazSpaz:

I think that is more of what he was looking for, obviously since most traders fail then waaay more people would be negative about it if it was a question to everyone that tried.

I think it is more interesting to have it remain with successful traders (self-proclaimed at least), asking the small percentage of the guys that figure out the game and do well, was it worth it? The guys that have achieved success are the only ones that really know how hard and how long the road is to get there, not a guy who never made it to the end of the road.

true, but asking those who succeed if they would do it all over again captures 1-2% of people. The other 98% would probably say no.

Greg Richards · May 20, 2009

Quote from youngtrader:

I left my family, my friends and everything I have ever known to trade profesionally. I have become more self centered, less forgiving, emotionally angry all the time, etc. The money just becomes too much and ruins you. The inner drive to succeed becomes almost sickening.

Sorry to hear it changed you, but it needn't. You can change your choices, even now.

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Greg Richards · May 20, 2009

I picked up the previous video from Brett Steenbarger's blog:

http://traderfeed.blogspot.com/

Good stuff, I highly recommend it.

His web site is Trading Psychology: http://www.brettsteenbarger.com/

Hope you sort things out.

NazSpaz · May 20, 2009

Quote from TraderZones:

true, but asking those who succeed if they would do it all over again captures 1-2% of people. The other 98% would probably say no.

C'mon, no way it is 1-2%, maybe 10-20%, but even then that is the point - If you ask someone who failed, of course they say no. But the interesting story is seeing how many of those who succeeded who say no.

indexer · May 20, 2009

Many traders go through this once or twice. Take a year or two off and come back part time. What hurts is that intellectually you feel like you have failed (perhaps for the first time in your life).

Remember, the smarter you are, the longer it takes to be a good trader. Your mind will see an unlimited amount of things in the market. You need to simplify.

Once again, this is just a bump in the road. Shrug it off, take the attitude that - so fucking what - it ain't nothing but a thing.

Get a job, get some money coming in, things will get better. Good luck!

TraderZones · May 20, 2009

Quote from NazSpaz:

C'mon, no way it is 1-2%, maybe 10-20%, but even then that is the point - If you ask someone who failed, of course they say no. But the interesting story is seeing how many of those who succeeded who say no.

it is nowhere close that 10-20% are "successful". People who have made small amounts of money, broken even, been profitable for a short time are a lot of those who don't "lose money." Successful means a really good living for a significant amount of time, and there is not that many.

Podimer · May 22, 2009

Quote from TraderZones:

it is nowhere close that 10-20% are "successful". People who have made small amounts of money, broken even, been profitable for a short time are a lot of those who don't "lose money." Successful means a really good living for a significant amount of time, and there is not that many.

yeah, successful year in and year out is a rare breed.
i had been trading futures and stocks on and off for 15 years before turning pro solely to get the sick leverage. 2006 and 2007 made some money but barely enough to live in Thailand (i.e hardly could be called successful). last year, got more and more consumed, spending 10 hours per day in front of the computer trading, doing research and tweaking the system and was making enough to live well in the states up until first losing month in June (a good run of profitable months, i pat my own back;-). however, ended the year overall up $203 so was making like 3 cents per hour.
sure, could have been much worse and i learned a lot but was it worth it? to me, it is but only because i truly enjoy to spend time alone. if it truly stressed me out or made me a noticeably less content person, to myself or others, i would hopefully not do it.
i do dig the lifestyle it CAN give. sheesh, you can trade anywhere in the world that has a reliable high speed internet connection. i'm married but don't have kids and have the travel bug in a huge way so just for that aspect, it is ideal.
something else, which seems contrary to most posts here but i was often telling people that had similar temperaments and interests to me, "oh man, you need to do this, study and pass the 7, give up your other job, and start making some real money" and other such drivel. this was when i was making money and it seemed to come easy. i am so glad they didn't listen to me as some of them have kids and i would feel like a complete fuckstick now. needless to say, i won't be recommending such again.
anyway, so me, yes, i would do it over again but then, i have only been actually "pro" for a couple of years. ask me in 5 years if each year ends up with me just spinning my wheels and the answer will most likely be different. so far this year, i am on the live well in thailand plan or as a pauper in the states but who knows what the rest of the year holds.