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DIY Trader
- Joined
- 3 February 2010
- Posts
- 5,359
- Reactions
- 345
Re: Who trades fulltime?
Hi aramz;
that's what I thought - and got confused about injections about Millions in blue chips and time for the golf course.
Some people can't play golf or don't like golf.
Some people may enjoy working from home for a living.
It's indeed a question of choice, of lifestyle, of physical capabilities, and many more.
If I had a Million Dollars or two, I'd probably trade/ invest in a different way to the short-fuse daytrading and swing-trading that has paid my wages for the past ten years. Initially, the stress of having to perform was on a par with the stress of frustration in a middle management position, where the next layer was more interested in their perks, right to make stupid demands, and insist on ineffective principles, policies, and procedures.
Compared to that, working as a trader from home is Paradise, thanks to the ability to discuss matters en famille because trading success affects and interests everybody. The bliss of being able to say "I love my new Boss!" and really mean it!
On the other hand, the need for a professional approach, strict hours and attention to details - routine though they may become - is paramount. By the time the ASX opens, I have to be prepared - usually starting an hour before, checking Overseas markets, obtaining a feeling for which challenges and opportunities to expect today, checking on vulnerable and maturing positions, and finding options for new trades.
There are days, when nothing much is happening: all trades are humming along, and nobody is bothering me with emails and questions. When that happens, I don't consider it unprofessional to leave the office and have a "social life" for a change. Or communicate with friends and family around the Globe.
After Market Close, I go straight into book keeping: enter trades into my portfolio management system; evaluate successes and reasons for less successful early stop-outs, and have the computer report the actuals.
The afternoon is then free for family, friends, hobbies - whatever one's inclination. And if one's mobility is somewhat restricted, the computer can again be a window to the world.
The key to "Trading for a Living" is "Enjoying what I'm doing". If the attitude is professional and positive, success will follow inevitably.
Hi aramz;
"I started this thread so people who traded for a living and derived an income from the market could share their experiences and offer an insight to others who might like the idea of trading for a living or those who might be currently on a rigorous journey of knowledge and skill building so they one day could do the same."
that's what I thought - and got confused about injections about Millions in blue chips and time for the golf course.
Some people can't play golf or don't like golf.
Some people may enjoy working from home for a living.
It's indeed a question of choice, of lifestyle, of physical capabilities, and many more.
If I had a Million Dollars or two, I'd probably trade/ invest in a different way to the short-fuse daytrading and swing-trading that has paid my wages for the past ten years. Initially, the stress of having to perform was on a par with the stress of frustration in a middle management position, where the next layer was more interested in their perks, right to make stupid demands, and insist on ineffective principles, policies, and procedures.
Compared to that, working as a trader from home is Paradise, thanks to the ability to discuss matters en famille because trading success affects and interests everybody. The bliss of being able to say "I love my new Boss!" and really mean it!
On the other hand, the need for a professional approach, strict hours and attention to details - routine though they may become - is paramount. By the time the ASX opens, I have to be prepared - usually starting an hour before, checking Overseas markets, obtaining a feeling for which challenges and opportunities to expect today, checking on vulnerable and maturing positions, and finding options for new trades.
There are days, when nothing much is happening: all trades are humming along, and nobody is bothering me with emails and questions. When that happens, I don't consider it unprofessional to leave the office and have a "social life" for a change. Or communicate with friends and family around the Globe.
After Market Close, I go straight into book keeping: enter trades into my portfolio management system; evaluate successes and reasons for less successful early stop-outs, and have the computer report the actuals.
The afternoon is then free for family, friends, hobbies - whatever one's inclination. And if one's mobility is somewhat restricted, the computer can again be a window to the world.
The key to "Trading for a Living" is "Enjoying what I'm doing". If the attitude is professional and positive, success will follow inevitably.