Quote from Tums:
the other side of equation is not just $500k.
consider this:
-- you might have to move to NY or Chicago.
-- hassle in commute to the office
-- office politics
-- targets to meet. not just annual target, but quarterly, monthly, weekly, etc. There is no let up to pressure from your section head. Everybody is watching you and your P/L.
-- to make $500k for yourself, you have to carry a B-I-G load of leverage. It is OPM, but it is still money, and believe me, you can feel the stress.
-- you have to explain everything you do. If you have a down quarter, or slightly off month, the boss will be calling you to the office and ask you why. They want to know everything about you, your marital situation, your bowel movement, etc. Afterall, they have to cover their behind too, just in case you fail. (now you know why a lot of the big house traders don't last past their 30th birthday.)
Quote from canyonman00:
Just because you can't see it doesn't mean it's not possible. And it is all really about patience. I took this route many years ago, slow growth with my own hand on the tiller. I live well within my means and over the years that posture has handsomely rewarded me. The fastest route is not always the best for all. And it really is not about $100k annually. That view misses the real underlying beauty of being self-sufficient.
The sacrifice may be the larger more materialistic bounty, in the beginning. But the peace of mind that it couches grows with age. For me, that peace and knowledge has become synergistic and spilled out into other pursuits. Time and this posture has afforded me the ability to move from being a trader, into being a trader with investments. Those investments grew from just stocks to include real estate and business ventures. Those business ventures expanded into additional challenges and so forth.
This also gave me time to mature in the arenas of wants, desires and wishes. So many of the youth mistakes got bypassed because I wasn't ready. Sounder more meaningful and lasting decisions have been the flavor of the day. Inherently, discipline was improved. I am less stressed than many of my peers and I do have a clue about what I want to do next. And now I have the resources to do it.
I don't smoke, drink sparingly and could probably stand to lose about ten pounds (ok fifteen for optimum). I always get told that I look much younger than I am. The foundation for engaging, wide-ranging conversation is there, between the ears. And not just about trading either! And oddly enough, I regularly turn down the invitations to work for the so-called, "big bucks!"
I probably have less debt than someone with a third of my income. And now I'm really becoming dangerous, I'm teaching my nieces and nephews the lessons learned. I'm that jet set, self-employed uncle that they just can't seem to get enough of. And I'm not fifty yet!!! All that and, I'm African American. What a country!!!![]()
Quote from Tums:
no wonder you sound a bit short on the experience side, and eager to get consensus to your way of thinking.
Did you get the boot?
Quote from discrat:
I just love the freedom too muchAnd I hate Authority.
Also its neat to get up in the morning and trade in your underwear if you want
How about the rest of you ?? What would you prefer ?? [/B]
Quote from kiwi_trader:
Its open for 4.5 hours a day (2 hour lunch). I trade 4.2 hours because I knock off early for the news and a beer. Maybe 10 trades in that time.
Commute = 0 minutes.
Location = Tropical Queensland, Waterfront, Great fishing, diving, tennis, entertainment etc.
Preparation = 10-20 minutes a day.
Quote from canyonman00:
Just because you can't see it doesn't mean it's not possible. And it is all really about patience. I took this route many years ago, slow growth with my own hand on the tiller. I live well within my means and over the years that posture has handsomely rewarded me. The fastest route is not always the best for all. And it really is not about $100k annually. That view misses the real underlying beauty of being self-sufficient.
The sacrifice may be the larger more materialistic bounty, in the beginning. But the peace of mind that it couches grows with age. For me, that peace and knowledge has become synergistic and spilled out into other pursuits. Time and this posture has afforded me the ability to move from being a trader, into being a trader with investments. Those investments grew from just stocks to include real estate and business ventures. Those business ventures expanded into additional challenges and so forth.
This also gave me time to mature in the arenas of wants, desires and wishes. So many of the youth mistakes got bypassed because I wasn't ready. Sounder more meaningful and lasting decisions have been the flavor of the day. Inherently, discipline was improved. I am less stressed than many of my peers and I do have a clue about what I want to do next. And now I have the resources to do it.
I don't smoke, drink sparingly and could probably stand to lose about ten pounds (ok fifteen for optimum). I always get told that I look much younger than I am. The foundation for engaging, wide-ranging conversation is there, between the ears. And not just about trading either! And oddly enough, I regularly turn down the invitations to work for the so-called, "big bucks!"
I probably have less debt than someone with a third of my income. And now I'm really becoming dangerous, I'm teaching my nieces and nephews the lessons learned. I'm that jet set, self-employed uncle that they just can't seem to get enough of. And I'm not fifty yet!!! All that and, I'm African American. What a country!!!![]()
Quote from discrat:
As a independent trader I haven't quite reached 100K a year. But I am making a comfortable Living full time for over 3 years now strictly on my own from my computer at home. And would not trade this for anything.
Not even a job trading at Goldman Sachs
for 500K or even 1 million a year.
I just love the freedom too muchAnd I hate Authority.
Also its neat to get up in the morning and trade in your underwear if you want
How about the rest of you ?? What would you prefer ??