LOL.. Thanks Greg.. Actually, When I say that today is too volatile for daytrading it does seem like a contradiction however, As a shrewd trader, I want the odds stacked on my side. I don't want to trade when the market has no direction like today.. I guess in retrospect, You could say that today was easy.. Buy the hope that Greeny doesnt raise rates and sell the news.. But let me ask you this.. Would you have wanted to be long with todays outcome? Would you want to be short if he said lower rates and switch to neutral bias? Days like today can turn you inside out as a trader cause there is a catalyst to make the markets move quickly and we don't know which way.. Its rolling the dice. You might be right, you might be wrong. I don't want to trade that way. Its not gambling.
As far as do I like my life as a trader. In a word. Yes.... and no. As far as your job goes, Its nice to be in charge. You can set your schedule (to some degree) and you get rewarded for putting a little extra into it. You are the one who reaps the benefits of your hard work. If I get a J. O. B., what am I going to do? Go back into the IT world I've been out of for two years.. I'd basically have no chance. Id work 40 to 60 hours a week with no hope of ever seeing an extra dime regardless of how hard I work. Most likely a graveyard shift for some pinhead who would take all the credit (again), and could care less about me.. I am only 29 years old but I've had a job since I was 14.. All I ever managed to do is just scrape by. When I started trading two years ago, I had a total of 3500 dollars in a savings account and a house that needed furniture.. All I ever wanted was to be free of the week to week hell that is real life. I just didn't know how to do it. Trading is how I intend to do it. I made 160K from April 99' to March 00' All was mine. I worked 60+ hours a week and I studied what I could. To me, trading is a job. I refer to it as my own business. I'm the boss, I set my schedule and I get the rewards. I get to play with my 2 year old whenever I want and his mom gets to stay home with us. Being here for him makes any amount of market BS worth it. But most importantly, I get to use my head.. Its a chess match, no two days are the same and If I don't feel like working, I don't have to. I get up when I want and I wear what I want.
And yes, sometimes it does really suck... But so does real life so I get used to it.
You are considered a trusted friend and your opinion is always welcome..
M |
