What would make you give up trading or pay less attention to the markets?

[teewoods]

I have been trading for over 16years, not mostly full time although I had periods where it was a full-time profession. However, I diversified and became an Internet Entreprenur and became good at creating successful internet businesses. Would you still trade if you taking home over £1.5m+ a year running an internet business?

I still trade and hope to do so still I am old and grey, it just seems for the last 2 years I am not as excited about it since the main reason for trading was the creation of wealth and I have a much easier way of doing this through my internet business.

 

[HowardCohodas]

When it's not fun anymore.

 

[andycon]

I have been trading for over 16years, not mostly full time although I had periods where it was a full-time profession. However, I diversified and became an Internet Entreprenur and became good at creating successful internet businesses. Would you still trade if you taking home over £1.5m+ a year running an internet business?

I still trade and hope to do so still I am old and grey, it just seems for the last 2 years I am not as excited about it since the main reason for trading was the creation of wealth and I have a much easier way of doing this through my internet business.

Does the same question apply to any job, business, money making project. You probably initially do it to make money but at some point it becomes a bigger part of your life? Plenty of business owners still working when they don't need to financially, lottery winners who still go to the factory to work. Sometimes it's life style, sometimes it's greed. With trading you would need to add gambling in to the equation.

 

[Waterfield]

Trading isn't supposed to be fun. The **** are you guys on about.

edit:

In answer to OP's question, if trading was making me extra money along side the internet business without interfering with it or with non-work related things. Then yes I would.

Would spending more time on your internet business help make you more money? Or would it make you miserable because you'd rather trade?

 

[Mr. Charts]

Trading isn't supposed to be fun. The **** are you guys on about.

edit:

In answer to OP's question, if trading was making me extra money along side the internet business without interfering with it or with non-work related things. Then yes I would.

Would spending more time on your internet business help make you more money? Or would it make you miserable because you'd rather trade?

I find it fun
But if I didn't make money every day, I wouldn't.
Simple.

 

[teewoods]

When it's not fun anymore.

Fun? Get out of here you sadist!

 

[Masquerade]

If i'm making £1.5m+ a year I won't be caught spending my days in front of a trading screen. There's much better ways to get my kicks/feed my addictions. I'm not a greedy person, £1.5m+ is a tidy sum to make each year.

 

[teewoods]

Does the same question apply to any job, business, money making project. You probably initially do it to make money but at some point it becomes a bigger part of your life? Plenty of business owners still working when they don't need to financially, lottery winners who still go to the factory to work. Sometimes it's life style, sometimes it's greed. With trading you would need to add gambling in to the equation.

I see what you are saying. I actually love trading as a whole. It's something I was fascinated the minute I saw real time charts back in the days when we had no internet. How expensive it was back then to get real time data + charts and this was when I was a student. I bot burnt more times than a grilled chicken but kept coming back for more punishment. I still enjoy it but no more day trade. I am now more of a long term position trader and make far more money than when I was a day trader, also I have not had a losing trade in over a year and make a one trade on average every 6 - 8weeks. I am more patient and wait for my setup which targets high probability trades and it works like a charm! The downside to long term trading is it's not exciting. But then again maybe I should look at the sole purpose of trading, not the thrill but the end results which is profit.

A friend of mine who has lots of properties and rents them out found the whole buying process and refurbishing more of a thrill than accumulating money from the property he rented and sold. I guess once you reach a point where you are financially secure you a some buzz of trading and start to diversify into other ventures.

 

[Splitlink]

If i'm making £1.5m+ a year I won't be caught spending my days in front of a trading screen. There's much better ways to get my kicks/feed my addictions. I'm not a greedy person, £1.5m+ is a tidy sum to make each year.

If I make £1.5m+ once, let alone once per year, ditto your first sentence

 

[x4x]

I have been trading for over 16years, not mostly full time although I had periods where it was a full-time profession. However, I diversified and became an Internet Entreprenur and became good at creating successful internet businesses. Would you still trade if you taking home over £1.5m+ a year running an internet business?

I still trade and hope to do so still I am old and grey, it just seems for the last 2 years I am not as excited about it since the main reason for trading was the creation of wealth and I have a much easier way of doing this through my internet business.

I suspect there is a bit of a marketing ploy going on here - as there is no easier way to make money than trading and there is no limit as to how much you can make once you have built up your account.

 

[teewoods]

Trading isn't supposed to be fun. The **** are you guys on about.

edit:

In answer to OP's question, if trading was making me extra money along side the internet business without interfering with it or with non-work related things. Then yes I would.

Would spending more time on your internet business help make you more money? Or would it make you miserable because you'd rather trade?

Trading does not interfere if anything it helps me break my day. I don't spend that many hours on my internet business. I did when I started but now not so much.

I think we are on the same page, everything you said I agree with and I still do. I was just wondering if I was being greedy. Case in point, I was supposed to go on a 3 week break with some friends but I had short position in the market and it was a market I had been monitoring for 2 months before it finally hit my setup. I had to cancel plans to travel because I did not want to miss the big move and exit point. Although I made a nice profit on the trade, I had to ask myself was it worth missing out an exciting holiday with friends? I don't want my best memories to be about money I made trading. While everyone at the dinner table would be talking about the great holidays and adventures they had I would only have to my weekend breaks and best trades to talk about. Hardly what one would call an exciting life.

I want to cash in the chips and just go to art college, travel, play golf and learn a language. I feel that time is very near when I don't know. I guess it's greed stopping me from letting go.

 

[tomorton]

As above, if I ever get £1.5m into a nice interest-paying account, I won't ever trade again. There is such a thing as rich enough.

 

[brewski1984]

As above, if I ever get £1.5m into a nice interest-paying account, I won't ever trade again. There is such a thing as rich enough.

+1

 

[teewoods]

I suspect there is a bit of a marketing ploy going on here - as there is no easier way to make money than trading and there is no limit as to how much you can make once you have built up your account.

It's funny you say "there is no limit as to how much you can make once you have built up your account". Well one could say the same the thing about a successful internet business (website). Take for instance the guy who set up plentyoffish dating site made $900k in his first year and by the 3rd year was making $10m a year. And he only spends 1 hour a day (if that) You think trading is easier? The teen who setup student essay/thestudentroom he is worth over £8m and thats in within a few years. He does not spend hours on his screen. These are just your common examples. I am not here to sell anything but I understand you cynicism. After all all most everyone and their dog is trying to sell some trading course and cash in on those who think you can make unlimited amount of money.

 

[x4x]

I wasn't imagining you were trying to sell a trading course - more likely promote your internet business.

I think I read one of the big investment banks was making 106 million per day, every day last quarter - we can go on forever seeing who or what makes the most money, you can only be successful at something you enjoy - obviously trading wasn't for you.

 

[Masquerade]

I think we are on the same page, everything you said I agree with and I still do. I was just wondering if I was being greedy. Case in point, I was supposed to go on a 3 week break with some friends but I had short position in the market and it was a market I had been monitoring for 2 months before it finally hit my setup. I had to cancel plans to travel because I did not want to miss the big move and exit point. Although I made a nice profit on the trade, I had to ask myself was it worth missing out an exciting holiday with friends? I don't want my best memories to be about money I made trading. While everyone at the dinner table would be talking about the great holidays and adventures they had I would only have to my weekend breaks and best trades to talk about. Hardly what one would call an exciting life.

I want to cash in the chips and just go to art college, travel, play golf and learn a language. I feel that time is very near when I don't know. I guess it's greed stopping me from letting go.

You're a slave to the market! You cancelled your plans just to try make some more money. At least people in sainsburys who stack shelves don't have to cancel their plans to be a slave to their employer. Money's great and that but if you're not able to live a better life with it (as in enjoying yourself, going out, going on holiday) then it's not of much utility - it's just numbers on a screen and maybe you get to buy some fancy **** every now and then.

 

[andycon]

I was told (so I don't know how accurate it is) that a lot of professionals (Doctors, Lawyers, Accountants etc) who are very successful in there field take up trading. This would imply that there are a large amount of people who are not doing it for the money. I would suspect that the gambling side of it is playing a much bigger part than most people would like to admit. I'm sure that statement will get me shot down in flames.

 

[Black Swan]

As above, if I ever get £1.5m into a nice interest-paying account, I won't ever trade again. There is such a thing as rich enough.

Is there such a thing as a nice interest paying account? Nope, come on Tom, you would have to (at the very least) position trade it into other currencies, be rude not to..

 

[Black Swan]

I was told (so I don't know how accurate it is) that a lot of professionals (Doctors, Lawyers, Accountants etc) who are very successful in there field take up trading. This would imply that there are a large amount of people who are not doing it for the money. I would suspect that the gambling side of it is playing a much bigger part than most people would like to admit. I'm sure that statement will get me shot down in flames.

Doctor tells wife he's down ten grand "on shares" she might accept it, same reaction telling her he's down ten grand down on the gee gees...?

 

[Masquerade]

Doctor tells wife he's down ten grand "on shares" she might accept it, same reaction telling her he's down ten grand down on the gee gees...?

Any smart person knows you don't tell her anything.