barely enough to be a danger to yourself
Most people will be annoyed and call you out when you are misrepresenting yourself- you speak as if you have quite a bit of experience when in fact you have barely enough to be a danger to yourself
You'll have to excuse mere mortals like myself for having a few doubts when someone shows up with what only amounts to a drop in the ocean of experience and says that trading is easy and that certain things can be done when you haven't actually done them yet
but up until this thread I thought you had at least a little bit more experience than you actually do
Personally, I've been trading since early 2001
hardly my point
If I don't want to work tomorrow I don't have to or next week. Try ringing up your boss and tell him that your not coming in next week cause you don't feel like working.:
Or tell your boss that you did some really good work last week and have decided to reward yourself by taking a holiday although you have no holiday leave left:
Or telling her that you will not work on that project they need anymore because your colleges are wankers.
Or telling him that you did some really good work last week and you should get 10 x your wage. Working for yourself, which trading is, is the ultimate leverage. Effort and smarts is rewarded exponentially not so as a wage slave. Working for someone else is always 1 to 1 leverage.
Ah but if you have a job, you save lives, teach or do something useful.
Instead of transferring bits of money back and forward all day when trading full time. You do not grow food, or teach or contribute in any meaningful way to the production of the resources that you consume.
Thats debatable ....
For every job that does one of the above you could name 3 that dont .....
Although you make a moot point ...and its a question that Brett Steenbarger addressed on Friday ....
What is the value of trading beyond making money?
It's a question that arises for many traders. So many occupations derive their nobility from contributing to the welfare of others in direct ways. Where is the nobility in trading?
In my reply, echoing Ayn Rand, I challenged the notion that nobility is solely or primarily a function of assisting others.
In mastering risk and uncertainty; in learning to pursue opportunity in effortful ways; in making ourselves better as decision makers; in becoming more disciplined actors; we improve ourselves as human beings. That carries over to many areas of life, so that we can become better business partners, spouses, parents, and friends.
Indeed, this might be the most important distinction between trading well and trading poorly: When we trade well, we make ourselves stronger, better; we tap into the best within us. When we trade poorly, we succumb to our lowest common denominators.
The value of trading is the value of any competitive performance activity: in its mastery, we become just a bit closer to our ideals--and that ripples throughout our lives.
http://traderfeed.blogspot.com/2009/07/what-is-value-of-trading.html
sleepy
And the mastery piece - it may well make you more disciplined and help in your private life, but you are still contributing nothing to society
I think most jobs are useful in some way to running our society - garbos, bank clerks, accountants. They all work to produce, service or support production or service. That said, there are what I call negative occupations that we would be better without - murderers, car thieves, prostitutes. Day trading as an occupation sits above these in my view.
And the mastery piece - it may well make you more disciplined and help in your private life, but you are still contributing nothing to society
And the mastery piece - it may well make you more disciplined and help in your private life, but you are still contributing nothing to society
If I sound like I have more experience than I do, then perhaps I know more than what should be expected of someone with my limited experience. That may be true, and it might not as I don't know how others here see me. However, if what I say generally makes sense, then judge me by my opinions and not my inexperience.
"Talk the talk and walk the walk" is a pretty foolish line.
As for 4 ticks a day, please consider that one can trade multiple contracts. I believe I can compound most of my profit as I expect my profit to be far larger than my expenses. I admit this year probably won't be great, but I'm in this for the long haul, not to make a quick buck over a year or two
Wealth creation benefits a society. Communism doesn't.Ah but if you have a job, you save lives, teach or do something useful.
Instead of transferring bits of money back and forward all day when trading full time. You do not grow food, or teach or contribute in any meaningful way to the production of the resources that you consume
Ah but if you have a job, you save lives, teach or do something useful.
Hey Mr J , I find you most interesting , keep up your posts .
I'll back that.
Enjoy your posts.
nomore4s said:It is true though. At the moment all you have is theory, in every endevour I've ever done there is always a gap between theory & practical application.
You say you don't have $50,000 but now you say you trade multiple contracts. I'm not saying this isn't possible but it would mean you are very under capitalised imo.
You'll have to forgive me for taking what you say with a grain of salt. You portray yourself as some accomplished trader when in fact you're anything but, the internet is full of wannabe legends and tbh I'm yet to see anything from you except theories & trading cliches that you can find in a million places on the net.
I'm not saying you won't be successful at trading or that you won't achieve your goals - hell you might turn out to be the next TH but you have only just begun your journey.
Nonsense.
Traders buy stuff, hire people to do stuff.
Look deeper.
Its distributing money from the unaware/uneducated to the wise/cunning.
- think natural selection.
- same as a casino really.
How many foreign dollars do you bring from outside the country? I know I bring a few here and there. My business is an export business. That increases the wealth of Australia and I'm guessing you too:. Most jobs support the consumption industry. Whats the value of them?
But besides that I consider my "job" similar to a tennis player or football player or even an artist? What "value" do they have? What lives do they save? Probably none but they entertain the poor masses. Does that has value?
Wealth creation benefits a society. Communism doesn't.
AND what about all those people who currently dont have jobs or have recently lost their jobs because of the recession?
Trading is a performance activity that rewards the successful and spits out the weak ... just like any other job/profession. Its also why trading can provide opportunities that other career paths dont provide, and why more and more people are pursuing self-directed trading and investment as a way of taking control of their futures.
sleepy
However, I am actively looking for a job....
Hmm, a few thousand bucks to an accountant, some brokerage fees. That is just expenditure. The actual action of day trading does not add generate goods or services for the population as a whole.
Why arent you consifering Trading for a living.
Or is it that you dont wish to work for youself----many dont.
(I have had staff come to me and make it clear that they will work all day everyday at a fair rate of pay BUT do nor want any leadership or responsibility rolls. These people are great employees loyal and hard working who I would dearly love to take on more responsibility as they short sell themselves in my view---but I adhere to their wishes as I value them.)
Point is not everyone is cut out to work for themselves and even fewer could trade for a living--they wouldnt be cut out for it.
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