The fate of a trader

[new_trader]

This is precisely the attitude I am talking about, trading as a means to an end. If an above average income is your goal, then there are excellent examples set of how to achieve it.

Exactly. Someone once said to me, "You will never get ahead of the train in front if you remain on the same tracks"

 

[trader_dante]

...by not aiming to achieve something out of the ordinary, one accepts that it is highly unlikely to occur. Of course there are exceptions to the rule, but no-one ever won the Gold medal at the olympics by aiming for the Silver.

What an incredible post.

MrGecko, I 100% agree with you. This is partly why I started the thread because I think I have personally reached an very important point in my life where it is decision time. I am really not in this game for the money or the freedom. Neither matter very much to me. I am in it because I want to be the best that ever was. And to be the best it seems to me that many things that I hold dear must be sacrificed. A balanced life is desirable but not always achievable, at least not while you are on the path to where you want to be.

 

[gamma]

This is precisely the attitude I am talking about, trading as a means to an end. If an above average income is your goal, then there are excellent examples set of how to achieve it.

I agree with the above the essence of which basically is that it frees up time and gives you the opportunity to achieve other goals

However, by not aiming to achieve something out of the ordinary, one accepts that it is highly unlikely to occur. Of course there are exceptions to the rule, but no-one ever won the Gold medal at the olympics by aiming for the Silver.

How long does one have to try to realize that one is not even in the Bronze league let alone silver or Gold and acceptance of achieving a above average salary and free time is an excellent substitute.

 

[trader_dante]

How long does one have to try to realize that one is not even in the Bronze league let alone silver or Gold and acceptance of achieving a above average salary and free time is an excellent substitute.

How long indeed? Perhaps we all know deep down when the point comes that we are never going to be great. But perhaps also some of us lie to ourselves. I think that like in any endeavour, being honest with yourself is hard to achieve but the best recipe for success.

 

[new_trader]

How long does one have to try to realize that one is not even in the Bronze league let alone silver or Gold and acceptance of achieving a above average salary and free time is an excellent substitute.

Am I missing something? Who would sweep our streets and pack the shelves in ASDA if you could earn more than this by being just a less than average trader?

 

[MrGecko]

How long does one have to try to realize that one is not even in the Bronze league let alone silver or Gold and acceptance of achieving a above average salary and free time is an excellent substitute.

"Winners never quit, quitters never Win".

To be honest I think this saying is kind of stupid, but it outlines a point I'll make in response: I can never know whether I will achieve what I want; as I progress, what I want develops into something greater still. I can be sure of only one thing, and that is the moment I stop trying, my chances are exhausted. Sometimes the journey alone can be enough to satisfy.

How long indeed? Perhaps we all know deep down when the point comes that we are never going to be great. But perhaps also some of us lie to ourselves. I think that like in any endeavour, being honest with yourself is hard to achieve but the best recipe for success.

"Whether you think you can or you can't, you're probably right", Henry Ford.

 

[gamma]

How long indeed? Perhaps we all know deep down when the point comes that we are never going to be great. But perhaps also some of us lie to ourselves. I think that like in any endeavour, being honest with yourself is hard to achieve but the best recipe for success.

I would also like to add acceptance to the above a lot of my posts are aimed at acceptance I came to accept a long time ago that I will be no livermore, making a good income from only trading the morning session is the best next thing.

 

[gamma]

Am I missing something? Who would sweep our streets and pack the shelves in ASDA if you could earn more than this by being just a less than average trader?

The question is do the shelf fillers and sweepers know about trading?

Besides how do you quantify what is an average trader?

 

[new_trader]

The question is do the shelf fillers and sweepers know about trading?

Well we better hope they don't find out...what will happen to our groceries and our streets :-0

Besides how do you quantify what is an average trader?

For me it's black & white, either you know how to trade or you don't. If you know how to trade why would you settle for little more than an average income?

 

[gamma]

Well we better hope they don't find out...what will happen to our groceries and our streets :-0



For me it's black & white, either you know how to trade or you don't.

sorry new trader was watching Seinfeld and did not give this my full attention
You are right I said it.
What I am trying to emphasize in my posting is the average wage and if you ca achieve it by just trading the morning session then it frees you up to do other things

I agree wth you yes its ether you know or you don't
The problem as I see it arises when you start compounding this brings about new problems and stress.

 

[rols]

What an incredible post.

MrGecko, I 100% agree with you. This is partly why I started the thread because I think I have personally reached an very important point in my life where it is decision time. I am really not in this game for the money or the freedom. Neither matter very much to me. I am in it because I want to be the best that ever was. And to be the best it seems to me that many things that I hold dear must be sacrificed. A balanced life is desirable but not always achievable, at least not while you are on the path to where you want to be.

There is a quote

"You can have almost anything in life if you are willing to give up everything else for it."

Those that do give up everything else I presume are not aware they are giving up everything else - such is the nature of their desire or obsession. Perfection to a perfectionist is never actually achievable, in fact the journey and the struggle are some ways more important than the result.

Buddhist philosophy focuses upon Nirvana, which means extinction. Freedom from all desire brings about freedom from all suffering.

There is an alternative to suffering and illusion, and it is enlightenment (nirvana). Buddha, literally translates as “awake,” or “awakened one,” and so enlightenment entails some notion of waking up to the world around you.

...the eightfold path, which includes right intent (trying to do good), right livelihood (living in a way that benefits others), right mindfulness (mindfulness practice), and right concentration (meditation), and four others.

Many successful people I know embrace these principles.

 

[trader_dante]

There is a quote

"You can have almost anything in life if you are willing to give up everything else for it."

Time to change the signature again

 

[new_trader]

1) The richest people of all are those with the fewest wants
2) Life is what happens to you whilst you’re busy making other plans

 

[doberman]

"I dont want to owen the world i just want to live in it."

 

[jiggly]

1) The richest people of all are those with the fewest wants
2) Life is what happens to you whilst you’re busy making other plans

This thread is exellent, the above comment rings so true, you may remember my other thread, 'how to make big money trading' .

I have been submerged in this world of trading for the past 3 years and although I am experiencing some success, I know now what i didn't when i first got started,

this is obviously a game of probablilities and you need to surrender you emotions and so forth to the market and not become obssessed, it is also somewhat true that you need to, as Mark douglas say, 'make yourself available', when you believe the market is approaching a window of opportunity for you to make a trade.

it is this, coupled with not taking those trades that present themselves that ultimately screw with your results, it is a game of probabilities and if you dont take all trades as they present themselves you are ruining a system which may otherwise have a positive expectancy.

i am slowly coming to the conclusion that i have indeed sacrificed a lot to get to where i have, i look back at the friends i have not spent as much time with, those which have somewhat vanished and the nights out when they were partying, that i did not have the money to join them and there are many other things i could mention, which i wil not go into for personal reasons.

it is indeed a very tough life learning and being a trader and everyone entering this game should take stock of the knowledge which is being posted by the more knowledgable heads and realise what they are embarking on.

you do start to change, your outlook on life begins to shift, you do to a certain degree become disillusioned and you are none the wiser until you get to a point when you say, life is slowly starting to pass me by. I may be wrong but this all does depend upon your success and what you got into this business for.

but there is no point being a dragon sitting on a pile of money, dangerous but extinct.

regards

 

[rollsafe]

1) To TD and everyone else. "Whatever is true is true for you" this means YOU and you only, nobody else.

2) Some people say you can have both....Family and Trading

3) A successful trader said the some people come into this profession to evoke certain feelings they are trying to avoid.
The feelings you are trying to avoid (i.e. fear, sadness, anger, death, etc) keep coming back and get stronger until you pay attention. That is why money or anything else becomes irrelevant....you are giving yourself a message and the message wants to get thru....
The perfect venue to evoke all Feelings (especially the ones you are trying to avoid) is Trading

Feelings are an important part of your system...ignore the feelings and they might grow stronger until you listen to what they are telling you....

Read what Ed Seykota says about feelings: Ed Seykota - Wikiquote



4) For those worried about what you have done or what will happen in the nonexistent future read The Power of Now - Wikipedia, the free encyclopedia


Thanks

 

[jiggly]

1) To TD and everyone else. "Whatever is true is true for you" this means YOU and you only, nobody else.

2) Some people say you can have both....Family and Trading

3) A successful trader said the some people come into this profession to evoke certain feelings they are trying to avoid.
The feelings you are trying to avoid (i.e. fear, sadness, anger, death, etc) keep coming back and get stronger until you pay attention. That is why money or anything else becomes irrelevant....you are giving yourself a message and the message wants to get thru....
The perfect venue to evoke all Feelings (especially the ones you are trying to avoid) is Trading

Feelings are an important part of your system...ignore the feelings and they might grow stronger until you listen to what they are telling you....

Read what Ed Seykota says about feelings: Ed Seykota - Wikiquote



4) For those worried about what you have done or what will happen in the nonexistent future read The Power of Now - Wikipedia, the free encyclopedia


Thanks

I have read 'the power of now' for personal development purposes, it is very philosophical and may not be understood first time round, a second read is recommended, some may find it boring or just not get what the guy is on about, I think it will be better recieved by those who are at an intermediate to advanced level.

 

[jiggly]

Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.

* Source: Covel, Trend Following, page 55


that is F*cking gold, thanks to trader dante who helped open my eyes to my own trading flaws, this is where the shizzle is........a la carte livermore.......this is where the big money is in trading, pyramiding

 

[trader_dante]

this is where the big money is in trading, pyramiding

Very true but few do it well.

 

[jiggly]

Anyone got anything further to add to this? Maybe something like "we should all be doing what Grey1 is doing". Apparently this is the solution, so I keep reading...so there you have it TD. No more posts needed. Close this thread and let's get on with our lives and trading.

I got into this to 'make big money' one of the first books i read, which could possibly be as much a hindrance than it was a help is that of reminisenses of of a stock operator (livermore).

I got into this because I want to make muchos deniros, big money, F*cking masses and masses and masses of wipe my backside style with 50's, MONEY.....

but as the years go by and your learning and experiences evolve to a point where, you come to realise that the likelyhood that you will get there, let alone making better than the average wage, over the long term, are slim.

this is not about self doubt, but removing yourself from the disillusions and obssessions of trying to get there and the purpose of it all if you have to sacrifice a hell of a lot of other more meaningful stuff which life has to offer in order to get there.......

there is a big price to pay to realise consistent success, and more money than imaginable, and I think you have to feel like that has been taken from you to be in a position to earn it.