Irby,
You and I have talked previously about this. There is great financial reward and gratification that comes from personal trading. You have had the "professional" experience on Wall Street and so you have 'been there done that'. Many haven't. Many simply know Wall Street from their IE3.0 Browser or CNBC. I am not saying that as a bad thing since my exposure, being located off-wall street, is not all that much more. I am saying that some traders might have what it takes (not necessarily skill, but the mentality) to be more successful doing something else. (maybe I should not have used the word more, but else).
Your list of benefits of personal trading comes pretty close to the gray line where some might call it hedonism. (lol). The most successful nonprofressional traders I know, either clients or associates or individuals from this thread, would agree that discipline is critical. Most traders approach their trading as they would any job with certain limits and stops and specific guidelines that they follow and from which they do not breach. They have schedules they follow in when they wake up, read the paper, scour the internet, rev up their quote service, etc.
Irby, you, if anyone on this thread, has that kind of discipline because I see it in your postings, message, approach etc.
This is what makes you a professional and sets you apart. This is the case in any profession, whether it be one that is run from home or from the floor of the NYSE.
<<To think and act without restriction>> Sounds like trouble waiting to happen regardless of where you work, your living room or a trading floor.
<<Compliance>> we all face compliance. SEC rules apply to all of us. Some of us face more than others.
As for deadlines, location of trading, etc. you are dead on the money. Look, I am totally entrepenuerial minded. Maybe it is just me. I personally would rather manage 3,4, 40 million and make xx% of the profits, using this great revenue and principal to employ the latest and greatest technologies, to develop a name on wall street and to do well for others as well.
<<Fascinating>> The most successful traders as well as business people in non-financial industry always succeed because their focus is other than the bottom line. They just are enthralled by the opportunities and look to capitalize on them. The financial rewards comes in time.
Best wishes.
steve@yamner.com |
