In trading you, and only you, are both boss and client
The good thing about this poll is that you can choose more than one option. The bad thing, IMHO, is that ones that I choose appear to be contradictory in the way they are phrased !
In summary - because I enjoy the intellectual challenge and the ability to make money.
Most important - (and think about this carefully) - this is the only "professsion" I can think of where you do not have a line manager to report to and you do not have a customer to satisfy. In other words you are the ONLY person you have to answer to. This is why the psychological aspects of trading are particularly relevant.
This is not, I hasten to add, to diminish the importance of a good trading strategy as Db points out. Both are, IMHO, equally vital.
Charlton
JillyBJillyB said:Ok, so why does everyone trade?
Is it a means of getting rich quick or just an enjoyable hobby?
The good thing about this poll is that you can choose more than one option. The bad thing, IMHO, is that ones that I choose appear to be contradictory in the way they are phrased !
In summary - because I enjoy the intellectual challenge and the ability to make money.
Most important - (and think about this carefully) - this is the only "professsion" I can think of where you do not have a line manager to report to and you do not have a customer to satisfy. In other words you are the ONLY person you have to answer to. This is why the psychological aspects of trading are particularly relevant.
This is not, I hasten to add, to diminish the importance of a good trading strategy as Db points out. Both are, IMHO, equally vital.
Charlton
damianoakley
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dbphoenix said:So I don't have to get a real job . . .
Got to agree with you there.......real jobs suck.
Thanks
Damian
CYOF
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Why Trade Fulltime
There is one, and only one reason, why I traded full-time and PLAN to resume in 2007.
Financial Independence
For me, other issues such as:
>Psychological
>Enjoyment
>Job Satisfaction
>Leisure Time
> etc,etc
are all secondary and take a back seat.
Trading full-time to attain Financial Independence is not an easy task - and must be taken very seriously in order to achieve the desired results.
Trading to make oodles of money, IMHO, is not the same as trading to achieve Financial Independence. When you are focused on FI, you then realise that you need to have a plan - as with any successful business - and you also need to have contingency plans - as is also the case with any successful business.
I am not surprised to see only 28 members voted for "It is my job", as the majority will not make the required commitment that it takes in order to LEARN what they need to know.
Money is but the by product of your business - understanding what your business is all about is the first step, which the majority find it hard to understand, mainly due to the fact that deep down they are not REALLY committed.
A fundamental requirement to enable one to stay committed, again IMHO, is that you must REALLY believe that you can do it.
This is very hard for the majority of people, as the Beliefs that we are thought in modern society are the exact opposite to what is required for a successful trading business.
The first step, therefore, is to understand this difference and tackle this fundamental problem that holds back the majority of traders from ever making any substantial headway in relation to establishing a successful trading business.
Change your Beliefs and anything is possible - if you investigate all the successful businessmen in the world, you will see one common trait, i.e, their BELIEF system was the main driving force behind the so called "CHANCES" they took, these "CHANCES" leading to their success.
In summary - it is best to question everything you read and see - for who is to say what is the right way and what is the wrong way to do anything.
There is no such thing - IT IS THE WAY THAT WORKS FOR YOU IS ALL THAT MATTERS
If one wants more insight into how humans can achieve great success - and how those in power prevented the majority from achieving this success for centuries - I would recommend one read up on the writings of Charles Haanel.
One of the main themes in Haanels writings is - wealth accumulation is one of the most important things in life - and I am in full agreement with him.
Trading the Financial Markets is, IMHO, the best way for an individual to accumulate wealth - no matter what ones social or educational background is.
But, if one is not willing to change their Belief System, then one will more than likely end up in the same boat as the majority >28 traders out of 61,000 is a good indication of what I mean (and that is only on the T2W site) - go and look at other trading sites and you will see the same results - even worse!
Charles Haanel 1912
**************************************************
Recognition is a mental process, mental action is therefore the interaction of the individual upon the Universal Mind, and as the Universal Mind is the intelligence which pervades all space and animates all living things, this mental action and reaction is the law of causation, but the principle of causation does not obtain in the individual but in the Universal Mind. It is not an objective faculty but a subjective process, and the results are seen in an infinite variety of conditions and experiences.
*************************************************
There is one, and only one reason, why I traded full-time and PLAN to resume in 2007.
Financial Independence
For me, other issues such as:
>Psychological
>Enjoyment
>Job Satisfaction
>Leisure Time
> etc,etc
are all secondary and take a back seat.
Trading full-time to attain Financial Independence is not an easy task - and must be taken very seriously in order to achieve the desired results.
Trading to make oodles of money, IMHO, is not the same as trading to achieve Financial Independence. When you are focused on FI, you then realise that you need to have a plan - as with any successful business - and you also need to have contingency plans - as is also the case with any successful business.
I am not surprised to see only 28 members voted for "It is my job", as the majority will not make the required commitment that it takes in order to LEARN what they need to know.
Money is but the by product of your business - understanding what your business is all about is the first step, which the majority find it hard to understand, mainly due to the fact that deep down they are not REALLY committed.
A fundamental requirement to enable one to stay committed, again IMHO, is that you must REALLY believe that you can do it.
This is very hard for the majority of people, as the Beliefs that we are thought in modern society are the exact opposite to what is required for a successful trading business.
The first step, therefore, is to understand this difference and tackle this fundamental problem that holds back the majority of traders from ever making any substantial headway in relation to establishing a successful trading business.
Change your Beliefs and anything is possible - if you investigate all the successful businessmen in the world, you will see one common trait, i.e, their BELIEF system was the main driving force behind the so called "CHANCES" they took, these "CHANCES" leading to their success.
In summary - it is best to question everything you read and see - for who is to say what is the right way and what is the wrong way to do anything.
There is no such thing - IT IS THE WAY THAT WORKS FOR YOU IS ALL THAT MATTERS
If one wants more insight into how humans can achieve great success - and how those in power prevented the majority from achieving this success for centuries - I would recommend one read up on the writings of Charles Haanel.
One of the main themes in Haanels writings is - wealth accumulation is one of the most important things in life - and I am in full agreement with him.
Trading the Financial Markets is, IMHO, the best way for an individual to accumulate wealth - no matter what ones social or educational background is.
But, if one is not willing to change their Belief System, then one will more than likely end up in the same boat as the majority >28 traders out of 61,000 is a good indication of what I mean (and that is only on the T2W site) - go and look at other trading sites and you will see the same results - even worse!
Charles Haanel 1912
**************************************************
Recognition is a mental process, mental action is therefore the interaction of the individual upon the Universal Mind, and as the Universal Mind is the intelligence which pervades all space and animates all living things, this mental action and reaction is the law of causation, but the principle of causation does not obtain in the individual but in the Universal Mind. It is not an objective faculty but a subjective process, and the results are seen in an infinite variety of conditions and experiences.
*************************************************
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vballkeo28
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The funny thing is that a friend starting trading the past couple years, and I got back into it after a 15yr. hiatus as my kids were growing up...
They are all out of the house, and yes, I did say to make oodles of $$$, but it is the rush, the ego trip when a strategy/timing falls into place.
It has given me the opportunity to lv. my regular job, and do it during the early mornings here in Hawaii(time of markets), then at 8-9am here, and can do whatever I want-as I also run a IC company here with my kids...
IT has paid for my 4 girls college tuitions, my future home I am currently building, and a comfortable future for my kids, their kids, and so forth...Cant wait to travel...
They are all out of the house, and yes, I did say to make oodles of $$$, but it is the rush, the ego trip when a strategy/timing falls into place.
It has given me the opportunity to lv. my regular job, and do it during the early mornings here in Hawaii(time of markets), then at 8-9am here, and can do whatever I want-as I also run a IC company here with my kids...
IT has paid for my 4 girls college tuitions, my future home I am currently building, and a comfortable future for my kids, their kids, and so forth...Cant wait to travel...
vballkeo28
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I have been lucky to get back into it after 15yrs., since my kids are all in college and yes, it has paid for that too...
older, wiser, and I did say to make oodles of $$$, but it is the ego/head trip, working with the numbers, technicals, chart/scans, commitment, etc. (for which I love), when a strategy pays off, and at the same time, educating family, friends, and others on how they can make a comfortable $$$ doing what started again as a hobby, and turned into a bonafide biz...
Lucky us as being in Hawaii(markets time here @ 330 or 430am, as it depends), and after the close of the market, still can go do other things like; Run an IC company i started here with my kids, and enjoy life.
Imagine, the look at people as they ask, do you actually work???
older, wiser, and I did say to make oodles of $$$, but it is the ego/head trip, working with the numbers, technicals, chart/scans, commitment, etc. (for which I love), when a strategy pays off, and at the same time, educating family, friends, and others on how they can make a comfortable $$$ doing what started again as a hobby, and turned into a bonafide biz...
Lucky us as being in Hawaii(markets time here @ 330 or 430am, as it depends), and after the close of the market, still can go do other things like; Run an IC company i started here with my kids, and enjoy life.
Imagine, the look at people as they ask, do you actually work???
damianoakley
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JillyB said:Ok, so why does everyone trade?
Is it a means of getting rich quick or just an enjoyable hobby?
For me, I trade for true personal freedom - a rare commodity in life that can be difficult to obtain.
Thanks
Damian
DaxDestroyer
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It is the best way to earn serious money.
I'm responsible for the outcome myself.
I'm responsible for the outcome myself.
DaxDestroyer
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and I can go on vacation, whenever I want toluckyd1976
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"It's My Job" but I'm one of the few people who enjoy their job. This was something I was born to do and I knew it day one. No one telling me what to do, I can sit around in my boxers all day If I want. I wouldnt trade it for the world.
meghana_shru
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Its my job to trade...
0007
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Apart from the market (which includes brokers & all the other little distractions) I am completely in charge - my very own little CEO. Whether I win or lose I know exactly who's responsible and I get to do it my way. (apologies Frank)
What other walk of life offers that?
PS. Of course there is the bonus of all the dosh that comes your way if you get it right. But I'm a man of principle and would never be influenced by that.
What other walk of life offers that?
PS. Of course there is the bonus of all the dosh that comes your way if you get it right. But I'm a man of principle and would never be influenced by that.
