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My post was a compliment....@tderrick is actually a good personal friend of mine and I know his comment wasn't cynical. I understood his comment to be more along the lines that your posts were deep and required more thinking than normal, hence the "headache" comment. More a humorous self deprecating joke than anything....I might be wrong about that but I know him well enough to make that assumption.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I had a strange feeling when I posted that remark that it may get me in trouble.
1. It was a poor attempt at humor and in no way meant to slight @tigertrader.
2. I was attempting to point out that in both language and market analysis, the post was beyond
my scope. I may run out of years on this orb before I ever approach the knowledge portrayed in
your post.
Hey, you know I often think about what I do, and whether I have a passion for it - one of the must-haves in that TED presentation.
I ask myself, would I trade if I wasn't paid for it? I can't work that one out. I wish I could say yes, but in all honesty I can't get my head around the question.
Obviously so far I am not paid but I trade! But that doesn't count since I totally absolutely intend to make money out of it.
Is it even a valid question? Is trading trading if you don't make money?
I could ask myself, would I trade someone else's money for no reward? I mean, none. No profit, no cut, no salary. But that to me isn't the right question to find out whether I'm passionate about it, whether I could do that for the rest of my life, because it's bound to work on my subconcious that the guy whose money it is would be getting all the profit. Could I handle that or would that kill it for me or is that not the right question to ask?
I don't know. Funny question!
You can discover what your enemy fears most by observing the means he uses to frighten you.
A friend told me recently that trading no longer fascinated him. He's been trading for 20 years and has some really big wins under his belt. Instead, he intimated that the lifestyle that trading related activities provided him was his passion. In other words, trading was something that allowed him to do what he loved away from trading.
This is not the first time I have heard this. The guy that got me into trading said basically the same thing. He said the first couple of years trading would be an obsession then you would start making money with a defined edge and then over time trading would become boring while the lifestyle you dreamed of took the place of the passion you once felt for trading. This is assuming you have something to live for outside of work. Otherwise just work 24/7.
I admit I fall into this category. I like trading. I like many things about it. However, what I love about it is the ability over time to indulge and follow my other passions which require money but do not produce it.
So can you be successful doing it like this despite what the TED talk said? I think so. Passion is what counts. If you need to do something that produces income to pursue the passion that doesn't, then be really good at it so you can fully indulge yourself away from that income source.
I might be on the wrong track here but I do think this is possible. I know at least two people that do it.
Good luck on your journey and thanks for reading.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Just going to write a quick response. Have been taking some medication and feeling a bit delerious all day, so hopefully it sounds right. I can appreciate where this guy is coming from, in the heart. He's not an economist though, his suspicions regarding the nature of man, power and greed are on the mark.
Ironically much of the problem that America is facing is due to pure unbridled capitalism, if anything else. Corporations send the jobs overseas, they don't care about the people in their communities. Most people today don't even know what they do exactly, or how it contributes to the economy, the social good. Most go to work and do some kind of data entry on machines. The days this guy pines for, the last century, 20% of people worked as farmers. Most people did something real that they could define. Anyways, this could get real long. But I think it's up to communities and countries to democratically decide what is best for them. Call it socialism, or whatever, I'm against big government, but I fear big corporations more. As an example the US needs some major Keynesian style spending right now to develop it's natural gas infrastructure, the corporations are happy playing the peak oil game for now though, they are not going to do it. The money spent putting people to work creates multipliers, and on the private industry that can flourish with the new infrastructure. Just printing money and giving it the elite class in the hope that they will spread the wealth ina trickle down fashioin is retarded. Of course it's not working. Of course real inflation is rising and there are no good jobs... hello
Anyways, don't want to ramble. But as for a gold standard. It is not practical. It was one of the major causes of the great depression because it creates liquidity rigidities. Great Depression - Wikipedia, the free encyclopedia
Imagine some guy sitting up in his castle on his pile of gold while everyone outside is starving because there is no money to move things around. The other problem is the US is bankrupt already. If they went to a gold standard China would come knocking and clean out Fort Knox overnight. China also has a tone of gold reserves in teh ground while the US does not have very much. And then they are going to fix their currency to a particular rate of gold. And this matrix starts to explode with unimaginable economic consequences... It's a nice theory and it might work in a small isolated community where all the producers and consumer are within 50 miles or something....
Anyways, I think the answer is pretty simple. A responsible government that cares about the people they represent and arent' just going to willy nilly sell em out to the corps... The black market needs to be taxed. Fighting the war is expensive, tax and regulate, responsibly, that's the way to go.. can't say I like it, but the situation is what it is.... 16 Trillion aint going away with a tax cut for rich people, even if corporations are people...
Hey buddy, I love ya to death but that's classic Keynesian economics that's failed us for the most of the last century. Its an experiment that's failed. All those fixes are just treating the symptoms of the cancer, not the cause.
Its time to go back to classic Austrian economics where the risk is not socialized and the profits privatized and central planners go where all failed ideas go...to the dusk heap of history.
Here is a great quote from one our third president and an ardent student of history. To bad our leaders today don't have the same grasp of history this guy did.
Thomas Jefferson: “The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless... ”
Anyway, I stuck the video here on my thread not to discuss its merits but to have a place where I can always find it.....I don't want to hijack my own trading journal with economics.....I posted the video in the off topic area as well. W can discuss it there.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
