Why do you trade?

[Cartman]

Ok serious question here

its sunday arvo and ive had a cupla light ales; and the creative question juices are flowing

bit of caffuffel on the other threads with Tech etc which made me think- ---

If u r wealthy enuff with YOUR regular job ----------- Y do YOU trade ??????


ie What makes us take risk when we dont actually need to?

disclaimer; im a poor sob so i need to trade lol

just thought it might be a question with interesting answers

 

[mazzatelli1000]

Re: YYYYYYYYYYYYY

If u r wealthy enuff with YOUR regular job ----------- Y do YOU trade ??????

1) One may not feel wealthy enough
2) If one is wealthly enough, one is not content to leave spare cash just lying around, and would like to earn returns higher than the risk free rate

It is like asking why Trump, Packer etc. continue to venture into new business deals when then could just keep money in the bank and live off the interest IMO

 

[Cartman]

Re: YYYYYYYYYYYYY

1) One may not feel wealthy enough
2) If one is wealthly enough, one is not content to leave spare cash just lying around, and would like to earn returns higher than the risk free rate

It is like asking why Trump, Packer etc. continue to venture into new business deals when then could just keep money in the bank and live off the interest IMO

Thanks Mazza ------- does that equate to greed??? (part two of the original question ---- there is always a part two!!)

ps there may be more parts

 

[MRC & Co]

I reckon it's just the mental stimulation and challenge.

 

[Cartman]

I reckon it's just the mental stimulation and challenge.

ever tried Chess Mirc ??

 

[mazzatelli1000]

Thanks Mazza ------- does that equate to greed??? (part two of the original question ---- there is always a part two!!)

ps there may be more parts

It could be, but if you have a chance to further improve yourself - why not??
You always have the option of taking that extra dough and putting it back into the community

Obviously I don't haha!!

I reckon it's just the mental stimulation and challenge.

This may come down to personal preference
Being a martial artist and trader - I defnitely agree about the mental stimulation and challenge. Both discplines offer great potential if you get there!!!

But I reckon if I could choose - i wouldn't work at all....would just be training all day

 

[beerwm]

Just a Newbie here;

I like the fact, the more you learn/read the more you gain.

Performance:Reward

The better you perform the more you are rewarded.

 

[Cartman]

It could be, but if you have a chance to further improve yourself - why not??

but if your day gig is providing adequate income where is the improvement in making extra above what you really need? sounds like greed to me

You always have the option of taking that extra dough and putting it back into the community

Obviously I don't haha!!

Greed it is !!! Shame on you MAzz

Just a Newbie here;

I like the fact, the more you learn/read the more you gain.

Performance:Reward

The better you perform the more you are rewarded.

thanks Beer (your name has a familiar ring to it )

Qu. Is the reward you get for your performance satisfying due to monetary gains or simply because you feel good about being good at it---- if you are also good at your day job y do you think being good at trading is more or less satisfying? and Y is that?

deep questions eh?!

 

[Cartman]

Being a martial artist and trader

ps if you are a martial artist --- i agree with anything and everything you say Mazza

 

[theasxgorilla]

Ok serious question here

its sunday arvo and ive had a cupla light ales; and the creative question juices are flowing

bit of caffuffel on the other threads with Tech etc which made me think- ---

If u r wealthy enuff with YOUR regular job ----------- Y do YOU trade ??????


ie What makes us take risk when we dont actually need to?

disclaimer; im a poor sob so i need to trade lol

just thought it might be a question with interesting answers

Courtesy of tech/a on another thread quite some time ago we have the following calculator:

http://www.bloomberg.com/invest/calculators/retire.html

Go there and play with it and you'll find that many (most) people, even those that right now feel wealthy enough from their regular jobs need to find a way of earning better than the cash rate to meet their retirement goals.

I trade because I need to meet retirement goals and the funds management industry gets paid irrespective of whether their performance suggests they deserve it.

 

[Naked shorts]

its sunday arvo and ive had a cupla light ales; and the creative question juices are flowing

Lol so thats why you posted all those other werid comments :

Im trading because a normal job wont help me fund what I want to do.

I definatly agree with MRC aswell. The challenge of trading is fantasic, I love it!

 

[wayneL]

As ASXG has intimated, we probably need a lot more money than might be imagined, if we are to be totally self-reliant and not state-reliant in our dotage. Botox injections and plastic surgery can be jolly expensive. (joke there)

When does the acquirement of wealth turn to greed? Good question, which I'm sure the answer will vary as much as there are people.

It could be argued that whether intentional, or a a result of financial negligence, reliance on the state is being greedy. Forcing the community to support you when you were capable of planning ahead, but didn't, you are essentially leeching off of later generations. Now in some cases, the state most certainly owes support to certain people, but I'm not talking about them. I'm also not referring to folks who are incapable of building up enough wealth for whatever valid reason.

So building up a nice pot could be more responsible than greedy.

There is also a trickle down effect with wealth. Rich people buy stuff, go places, build things, that require them to part with some of that money. Society needs rich people.

If a person is generous with their wealth, Godspeed to them in their endeavour, but I think that greed is probable more defined by how people use their money, rather than how much they acquire.

That's what I reckon.

 

[MS+Tradesim]

Y do YOU trade ??????

It's just as much fun as Battlefield 2 but instead of virtual ribbons and pretend ranks, I get money deposited in my bank (mostly). But I still play BF2 to unwind.

 

[Cartman]

Gorilla --- checked out that site and conclude i need to be more greedy otherwise im in trouble !!
Wayne --- very insightful response as always
Naked Shorts --- all i can say is i hope you wear undies!! :
MS ---- a battlefield it is

this thread will prob get shelved now cause its a sunday arvo kind of thread but thank you gentlemen for entering ------ the light ales have worn off now but the question still seems relevant so maybe others will add something through the week ----- now where is that goddamn bottle opener!!

 

[MichaelD]

I trade because I am fascinated by risk management, and trading is the purest expression of risk available anywhere.

A pleasant side effect of learning and practising/perfecting risk management is a rising equity curve.

That's not why I started trading, though. I started trading to make lots of money easily and quickly - the same as pretty much everyone's starting reasons I would have thought.

 

[jersey10]

I trade because I am fascinated by risk management.

Very interesting comment. I think i too am fascinated by risk management but i have no idea why. What fascinates you about risk management? You should try poker. Plenty of risk management there too. A rising equity curve is also possible once you become a decent poker player.

 

[johenmo]

The comment in a Garfield cartoon sums it up -"It's not the having, it's the getting".

We want to be able to do what my FIL has done for his grandkids - help them financially. My eldest did an exchange to France fro 12 months in high school, and he paid for the exchange costs. And it seems he has paid off her student loan. She realises how lucky she has been.

This happened due to his shares and other investments ( he's glad he's diversified!). It's only now that I have managed to get into the frame of mind where it seems right - I recognised that if I didn't have it right psychologically I would fail. Just didn't know why I knew it!

Many people, many reasons.

 

[MichaelD]

What fascinates you about risk management?

I think it's the remarkable property of what happens when you take lots of small losses, and then along comes a big winner to make it all worthwhile - that to me is intrinsically fascinating even though it is simply the inevitable mathematics of expectancy.

I contrast this to the behaviour of the "it's a good company" crowd who are all howling in pain at the moment and am fascinated by the contrast.

 

[Grinder]

Lifestyle! I can do whatever I want whenever i want. Not to mention, it's heaps fun

 

[tech/a]

We all have our own beliefs.

These are mine.

Your life isnt a dress rehersal. YOU get one shot at it.
YOU can CHOOSE to exist or LIVE life.

Trading has been and remains one of the greatest learning experiences I have found in this lifetime.
Michael has hit one of the nails on the head. I share the same fascination with regard to risk but in ALL aspects of life.
Wayne has also hit another nail on the head---My insatiable appetite for growth has found me in a position where I can and do influence the life of people involved in business/LIFE around me---for the positive---a very satisfying part of living.
ASX has posted a calculator which will perhaps shock many---financial security is further off than many imagine.

Ive personally chosen NOT to take the easiest road and trading is a part of that. A part incidentally which has shown me more about myself than any other endeavor. The lessons learnt have helped me in ALL aspects of life---- Very satisfying.