Richbynature
Junior member
- Messages
- 20
- Likes
- 0
I think this site is great, but can find little on over arching aims and objectices of traders - have I missed something somewhere? A great deal is written about complex entry and exit rules, little about sensible financial aims.
I recently googled "Berkshire Hathaway performance" and was surprised to see just how conservative the returns were over 40 years. The average quoted return is only 21% with some periods (years) returning next to nothing. That's still doubling about every 3.6 years!! Pretty good!!
Are we too bullish in our trading? Do we think about the long term? What objectives do the 10% or so who survive in this game set (there are old traders, bold traders, but no old bold traders)? Are traders "traders for life" or are these 10% or so in for a few years and then move into other businesses or property? I would be interested to get some feedback.
I have been trading part-time around my day job for about 4 years. I am a youngish man (32) and want to build my future through trading. I am building up capital and slowly increasing my trading frequency and exposure - slowly. I expect to live another 50 years (guess) and am working to this timeframe in my money management and learning about trading.
There are some good threads on this site about money management which I really recommend. But more broadly, how do you see your trading continuing, where do you want to go with it, when do you want to stop and what future do you want to build? Is it truly independence you seek or is that an intermal mask / excuse for a greedy quick win?
I would be interested in any thoughts you have about long time scales and objectives. My background (day job) forces me to plan very long (decades +) projects - that length of timescale has language and vocabulary that I rarely hear from traders; aims and objectives how are they defined?
If you have any thoughts I would be very interested.
Rich
I recently googled "Berkshire Hathaway performance" and was surprised to see just how conservative the returns were over 40 years. The average quoted return is only 21% with some periods (years) returning next to nothing. That's still doubling about every 3.6 years!! Pretty good!!
Are we too bullish in our trading? Do we think about the long term? What objectives do the 10% or so who survive in this game set (there are old traders, bold traders, but no old bold traders)? Are traders "traders for life" or are these 10% or so in for a few years and then move into other businesses or property? I would be interested to get some feedback.
I have been trading part-time around my day job for about 4 years. I am a youngish man (32) and want to build my future through trading. I am building up capital and slowly increasing my trading frequency and exposure - slowly. I expect to live another 50 years (guess) and am working to this timeframe in my money management and learning about trading.
There are some good threads on this site about money management which I really recommend. But more broadly, how do you see your trading continuing, where do you want to go with it, when do you want to stop and what future do you want to build? Is it truly independence you seek or is that an intermal mask / excuse for a greedy quick win?
I would be interested in any thoughts you have about long time scales and objectives. My background (day job) forces me to plan very long (decades +) projects - that length of timescale has language and vocabulary that I rarely hear from traders; aims and objectives how are they defined?
If you have any thoughts I would be very interested.
Rich
