What's your ambition re trading?

bbmac

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Might be interesting to see what the various ambitions are out there regarding your respective trading activity, whether you be full time, part time, experience or new to the game, wanting to start the world's biggest hedge fund or happy to trade for a secondary/additional income, what is your realistic ambition as far as your trading activity/career goes?
 
In an ideal world, work a couple a couple more years, get enough aside to drip feed my bank account with 5k week for 10 years then top it up for another 10yrs every now and then, till enough banked to retire....

Oh, and buy one of these...... (Bargain!)

Eden Beach, French Polynesia, Oceania


Or this one, cheaper than my old flat in England.....

Iris Island, Philippines, Asia
 
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Im already a full time trader and have no desire to manage money for others.

As a full time trader my priorities are:

1)Make enough to cover basic living expenses (for me thats 30K a year after tax)
2)Make enough to match how much i used to earn in my previous job (IT contractor earning 70K a year after tax).
3)Make way more than i made in my previous job eg make a million bucks a year.

The above are results oriented goals.

But the so called process oriented goals are what we as traders are supposed to aim for:

One such goad might be:

In the long run i want to increase my trading size to the point i can increase it no more due to liquidity constraints and slippage.
 
What I want to do is stop trading, never see a chart again or read news feed. For its own sake, I have zero interest in trading now. It is such a ****e'd-up life. It is such ********. I did make lots of money trading but not enough to just sit on the sofa doing nothing, which is what I really want to do. Just sit around, sleep, go places and do nothing. I can't stand boats, fast cars and all that rubbish. WTF do I need sh!t like that for? I am going to make a few millions and, when my kid grows up, I am going to go to Ethiopia and set up a place to send poor bright kids to school. I will then spend my time with people who have never heard of 'girls aloud'.

The only ambition you can have in trading is to make money, by the way. Wanting to buy a boat is not a trading ambition. It is an ambition to have a boat.:D
 
What's wrong with GIRLS ALOUD?


(Apart from one of them's choice of husband)
 
I can't stand boats, fast cars and all that rubbish. WTF do I need sh!t like that for? I am going to make a few millions and, when my kid grows up, I am going to go to Ethiopia and set up a place to send poor bright kids to school.

So you don't intend to enjoy the money at all?

Boats, fast cars, luxury holidays, nice houses. Some use them to massage their ego. Others actually enjoy them as much as someone might enjoy rock climbing or playing a guitar.
 
The only ambition you can have in trading is to make money, by the way. Wanting to buy a boat is not a trading ambition. It is an ambition to have a boat.:D

Very true that !

My ambition in trading ?

I have always wanted to make money, work for myself, be entirely responsible for my own success and the size of the outcome, and generally be self-determined, able to do what I want to when I want to, took me a long time to realize, but trading ticks all those boxes as perfectly as no other entrepreneurial option.

If you're going to be doing something you might as well do it properly and go all the way.

If you go into politics you'll want power and at least become a minister if not head of government, if you sing you'll want at least one number one hit, if you race cars in F1 you'll want to become world champion, if you strive for a career in academia you'll want to publish lot's of papers and be seen as an authority in your field, if you start a company you'll want to get rich.

That's the same in our occupation, for those of us who like me don't do anything else and hopefully will never have to again for as long as I still need to work to make money, we keep track by the amount of money we've made.

One has made a lot of money when you don't need to ask how much that boat costs if you want it.

Some boys just need a few toys, and that's quite OK as long as that's kept in perspective, as long as that isn't made bigger than it is, and as long as people don't make the mistake of believing that money can buy you happiness which very obviously it cannot.

Money lets one keep track of ones success, let's you enjoy some toys, and allows one to support causes one believes in, do some good, give something back.

OK, thinking over the money and happiness part, money can buy you Prozac, and Prozac can make you happy, so that point needs to be suitably amended in the interest of a fair and unbiased representation of relevant facts, haha:

prozac_250.jpg


Boys Toys:

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Mercedes_McLaren_SLR_2.jpg


Pagani_Zonda_F_32_2.jpg


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So you don't intend to enjoy the money at all?

Boats, fast cars, luxury holidays, nice houses. Some use them to massage their ego. Others actually enjoy them as much as someone might enjoy rock climbing or playing a guitar.

You hit that nail on the head Ninja. 'Ego' is the thing. I am certain no one actually 'enjoys' any of those things. How big a house does one need? You go to some barbecue and people talk about how many bathrooms their house has. It is like watching piant dry talking to most people. How many bathrooms?!

Then I go to my barber (they are called hair dressers:?:) and this guy was talking about how people would look at him if he drove a BMW. A BMW!!:cheesy: My barber tells them I am a trader so they are 'you in the stock market?' I say 'kind of'. What do you drive, they ask me? Ford Focus, I say. They lose interest:cheesy: Their interest in the 'stock market' goes as far as my car.:cheesy:

When I blew up my first account and refused to go back to work, my wife changed a lot. She was one of these 'idealistic' people who didn't 'care about money. The trouble is she never knew me with no money. She was giving me a royal pain in the ass in ways I never knew possible, very subtle and all. So what I did was just left her and went back to a flat I owned. It was the best thing I did. Anyway, what I found is that almost everything is about money and what you should aim for is to have as much of it as you can. Social life is one big game about money, the rest is just flim flam. Marriage? It is about money. Friendship? It is about money. Everything is about money and people are full of sh!t. If you are keen to have that boat and fast car, you are playing society's silly game. The guy at my corner shop reckons I am on benefits because he sees me every day, morning and afternoon. I know because he told me and I didn't want to disabuse him. :D

Do I want to enjoy the money? Sure, I don't have a boss and I can do what I want when I want. Money is an excellent tool to help you give two fingers to jobs and conventions.
 
That's probably the best thing about money, the freedom it affords you.

Re money and socio-economic status etc, there is a theory which I believe is VERY valid, which holds that the single most important factor driving people (no matter if in a partnership or not) to achieve success and wealth is a desire to impress the opposite sex.

If one is very honest with oneself there is really quite a lot to that.

PS, FX, I'll have to start working on my car thread again soon to tempt you a bit more :)
 
Re money and socio-economic status etc, there is a theory which I believe is VERY valid, which holds that the single most important factor driving people (no matter if in a partnership or not) to achieve success and wealth is a desire to impress the opposite sex.

Not for everyone.

I am very careful not to let the opposite sex know how "comfortable" I am. When people go on about looking forward to their pay cheque at the end of the month, I nod in agreement. In truth, the only time I've done this was at 14 when I did a paper round. It was my first ever pay cheque... £9.

If (as noted above) a member of the opposite sex wants you for your money, when that disappears, so too will the wife. She'll look for another client who can pay. Sorry, I meant husband...

On sports cars, I enjoy driving them. I enjoy the thrill, the sound, the smell, the feeling of fear, the joy of being able to control a slide that would find the uninitiated exiting the road backwards through a bush. I get a similar pleasure with my Playstation 2 but it isn't quite the same. You can't feel it. It's hard to explain. Much like listening to your favourite band on a CD compared to attending a concert. Playing a Casio keyboard versus a grand piano.

On big houses, it is nice to have a room big enough to practice tai chi in whenever I wanted to. Speaking of which, I have some training to do. Back in a mo. ;)
 
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If (as noted above) a member of the opposite sex wants you for your money, when that disappears, so too will the wife. She'll look for another client who can pay. Sorry, I meant husband...

That is certainly true enough.

I'm happy to be married with a girl I met while I was still a pauper at Uni, who has gone through thick and thin with me since, but to be honest I still believe that the way most girls are fundamentally wired is to find a partner who either is already successful, or at least whose entire nature shouts that he has the promise of success in his future.

It's a character feature developed from biological influences after centuries of role modeling, a woman will seek out that partner who is most able to provide for her children.

It's sort of like men saying they look for a woman with character etc, but at the end of the day good looks certainly don't harm any girls chances of "mating", just like most girls would never admit that subconsciously or consciously they go looking for winners with whom to partner.

There's always the odd exception to the rule, but on the whole successful men with the aura and self-confidence that both begets and results from success have better and more chances of anything from one night stands to getting a good partner for life, while the same holds true for attractive women.

That I think is where some guys go wrong, if you have enough money to buy a sports car but are otherwise a loser the car alone won't get you free sex, whereas if you're a winner who hasn't made his pile yet you will be having fun.

On sports cars, I enjoy driving them. I enjoy the thrill, the sound, the smell, the feeling of fear, the joy of being able to control a slide that would find the uninitiated exiting the road backwards through a bush.

Wow, that is beautifully said, even makes me contemplate a round on the Nürburgring, and I'm a very average driver, lol.
 
My ultimate desire in trading is to attain complete discipline, everything else is secondry
 
From trading ambition we have gone on to a sociological discussion - dissecting the sexes and habits regarding driving cars. To get back to it.

Ambition :

1) To make 2-3K per month apart from the day job. To pay the mortgage and bills etc.
2) I need about 40K per year to survive - thats me, wife and kid.
3) To increase trading size until making 40K/year.

To increase size one needs capital - the one thing we all have problem with. I need about 200k - so my risk on each postion can be 0.5% and return of 20%. Curently I need the day job to keep increasing capital.

I think this thread could be informative....philosophical pursuits aside..

CT
 
I am going to be Scrooge McDuck. Swimming in my money bin and pissing in old ladies' faces.
 
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