Dedicated to all of the traders trying to make it.
Chill out, stop over trading, relax, develop as many strategies that you can and see what works
best in different market environments.
It may take you 5000 or more hours, but don't blow your money. Nothing less.
There are a only a few out of a hundred (seems like good odds lol maybe thousands IDK) that survive.
Study for a few hours everyday for several years and you can cut your odds down. YouTube - ‪Modest Mouse- The Good Times Are Killing Me (with Lyrics)‬‏
The following user says Thank You to Massive l for this post:
Just noticed this thread. Yes I tell people and when they start telling me how to do it, I ask them if they would like it if I told them how to do their job.
Either that or I say "I spend most of my day making mathematical models of financial markets". Most people look back at you with a blank look. I enjoy what I do but I find not many others understand or care to try. Not dinner party conversation anyway.
All of the professions you mention involve actually helping people directly and being paid for that service. Perhaps the individual performing the task is essentially interchangeable with another, and perhaps the job is menial, but they nevertheless provide a service.
Traders don't. So that's another factor in the hostility people show toward traders, mixed in with envy (we don't really work yet make huge quantities of money) and distrust (we're ruining the 'normal' economy).
I no longer tell casual acquaintances I trade, I tell them I used to be a Professor and that I now write. If they press me on the writing I say I used to write academic stuff and I now write poetry - which usually brings the topic to a quick close.
There is no reason to tell people that you trade. It's really none of their business.
Ok, how about this. A trader is sort of like a dentist. A dentist employs a
number of people, the dental hygienists. The individual traders of the earth when added up, keep lots and
lots of people working. The software people, data vendors, brokers. The computer you use will have to be
replaced eventually. You need all these groups of people, to remain self-employed as a trader. They certainly
benefit from you remaining a trader.
In a communist utopia, which doesn't exist,
the smart and the average and all the rest on down get an equal share of money and possessions.
In our world, people that have some special skill, like the ability to trade futures successfully, can make
decent money right at home. It's honest work too.
It doesn't make any sense to me that some entertainers, baseball players for example,
provide a service/product, whatever it is, and make the salaries they make. It's just the way things
are I guess.
The following user says Thank You to stephenszpak for this post:
Broker/Data: Mirus Futures/Zen-Fire & Tradestation
Favorite Futures: ES
Posts: 14 since Dec 2010
Thanks: 15 given,
Brilliant. I didn't think of that. It was me who started this little thing on what trading contributes to society and I still find it curious. I started trading when a new hobby turned up in Sydney. It was called sue the wedding photographer (me) and both the clients & the staff had such fun with years of legal action against me that it made my beloved photography feel like the enemy. And trading the friend. Trading's great and so far there's no bridesmaids and veils involved. May that never change. Still, trading's almost repulsive to everyone who doesn't do it. Among the people I know there's the lying Real Estate agent, the mad reporter, the unbelievably boring insurance salesman and they're all OK. I even know a professional gambler and everyone thinks that him & his horses are just fine but day-trading? That's bad! Curious isn't it?