NexusFi: Find Your Edge


Home Menu

 





Why do we trade?


Discussion in Psychology and Money Management

Updated
      Top Posters
    1. looks_one Patrick S with 7 posts (5 thanks)
    2. looks_two FB2012 with 4 posts (13 thanks)
    3. looks_3 GaryD with 3 posts (8 thanks)
    4. looks_4 DarkPoolTrading with 2 posts (23 thanks)
      Best Posters
    1. looks_one DarkPoolTrading with 11.5 thanks per post
    2. looks_two FB2012 with 3.3 thanks per post
    3. looks_3 GaryD with 2.7 thanks per post
    4. looks_4 Patrick S with 0.7 thanks per post
    1. trending_up 6,879 views
    2. thumb_up 65 thanks given
    3. group 14 followers
    1. forum 26 posts
    2. attach_file 2 attachments




 
Search this Thread
  #11 (permalink)
 
Patrick S's Avatar
 Patrick S 
Raleigh NC
 
Experience: Beginner
Platform: Ninja
Broker: Mirus/ZenFire
Trading: Oil
Posts: 628 since May 2012
Thanks Given: 394
Thanks Received: 518


DionysusToast View Post
Two reasons for me....

1 - Pensions aren't viable any more and 'independent' financial advisers will push you towards whichever fund pays them the most.

2 - Jobs are no more reliable than starting your own business, they just pay less.

There is no guarantee that any person or group will grow your money any faster than you can.

Trading is no less stable than a job (once you know how) and there's always jobs if you decide it's not for you.

I'm 43, worked as an independent consultant for many years and made lots of money doing so. My perspective is not one of somebody needing to make it but of one annoyed at seeing other people lose large chunks of my cash.

Some 20 year old with $5k scraped together will rightly have a completely different outlook. In fact, I think to some extent, trading is an old mans game. The only reason props take on teeny-boppers is that anyone older would not be able to join on their terms.


If the sale of my HVAC Biz goes well, I will be in the same shoes.
I currently think the same thoughts as you in regards to investing my own cash and understanding that nobody is going to care more about my money than ME.

I realize that trading is much different than running my own Business. The reason I asked this question is I wanted to know if this one aspect of my profitable company would translate to trading.

My company is 13 years old. About 5 or 6 years ago I had an epiphaney and restructured my thought process of how we were going to make money.

Instead of penny pinching and cracking the whip I decided that relationships were more important than the dollar.
Bottom line is yes we made more money and life was much easier. The take away from that life lesson for me was be a warrior about making money but do it to serve a purpose bigger than my self.
Suddenly it was more fun.
I worked a hell of alot harder to build raport with my employees which translated to my customers which translated to more money, Which translated to me giving more money away.

The question is Can I somehow transition that into my trading career? (Maybe one day I can teach if I ever start to make consistant money)

In the end I don't think that trading can be about the money. I think it is a natural by product of what ever journey you on.
Discovering Yourself.

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Brendt Skorupinsky
Trading Reviews and Vendors
MC PL editor upgrade
MultiCharts
Has anyone taken trading from Agnieska Wood - Ahead Coach?
Psychology and Money Management
How reliable is ninjatrader 8?
NinjaTrader
Radarscreen
TradeStation
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
ApexTraderFunding.com experience and review
114 thanks
1 Minute Man
95 thanks
In futures why does price turn so hard against you
42 thanks
GFIs1 1 DAX trade per day journal
30 thanks
Joes Trading Garage
19 thanks
  #12 (permalink)
dryg
France
 
Posts: 38 since May 2012
Thanks Given: 5
Thanks Received: 19

People trade because trading is the oldest activity for profiting. Some win and some lose. There is no need to be esoteric and try to discover yourself to trade well. Just try to understand the other players, have a good system that is not curve-fitted and risk the smallest possible amount for making the largest possible gain. When you make a lot of money you will have time to discover yourself.

Reply With Quote
Thanked by:
  #13 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,341 since May 2013
Thanks Given: 255
Thanks Received: 4,217


For the challenge.

Too many people are telling me it canít be done. No one is telling me why it canít be done. The attitude is that the failure rate is so high that you shouldnít even try.

If 5% manage to succeed then I want to find out what they are doing different than the rest.

Reply With Quote
Thanked by:
  #14 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,327

I worked in the corporate world in IT for 8 years. I always knew I was unhappy in my career but could never find a way out. Although im a friendly enough person, im not an extroverted people person. Some people thrive on human interaction. Not me. I thrive on research, statistics, burying my head in a task. More than anything, I thrive on tasks that I do because I see the value in them and because they impact me directly, not because a company tells me that they need to be done. To say I hated working in the corporate world would be an understatement. I never felt a connection to the goals of the companies I worked for. Some people get motivated when management talks about company goals and objectives while working together for the greater good. I couldn't care less about any of that.

Trading allows me to be true to my personality and strengths. It gives me the freedom (and solitude) required to learn more about myself and how I view the world. It allows me to take my career in which ever direction I want.

I have found myself being a better husband and person in general because I am happier since leaving the corporate world. I now have time to read books on motivation, psychology and history and am finding my view of the world maturing as a result. This is something that never would have happened spending 50hours plus in a job I hated every week.

Trading for me is not about getting rich. Trading allows me to live a life more suited to who I am. The more I do this, the more I see how important it is for people to do what they're passionate about in life. Whatever that happens to be. You spend more time working every week than anything else. So why spend the majority of your life doing something you hate.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
  #15 (permalink)
 
Auric's Avatar
 Auric 
Raleigh, NC
 
Experience: Beginner
Platform: NinjaTrader
Trading: Index and Commodity Futures
Posts: 28 since Jan 2013
Thanks Given: 123
Thanks Received: 50


DarkPoolTrading View Post
I worked in the corporate world in IT for 8 years. I always knew I was unhappy in my career but could never find a way out. Although im a friendly enough person, im not an extroverted people person. Some people thrive on human interaction. Not me. I thrive on research, statistics, burying my head in a task. More than anything, I thrive on tasks that I do because I see the value in them and because they impact me directly, not because a company tells me that they need to be done. To say I hated working in the corporate world would be an understatement. I never felt a connection to the goals of the companies I worked for. Some people get motivated when management talks about company goals and objectives while working together for the greater good. I couldn't care less about any of that.

Great post. I wonder how many ex-IT guys who border on the introverted side become traders? Must be a dominant demographic. I feel the same way about my company and its goals. They're laudable, but I don't feel a connection to them. I often envy those I work with who have a passion for coming into work.

But now I have found something to work on that I am passionate about, and I intend to become successful at it. Good luck to all of my co-workers here!

Reply With Quote
  #16 (permalink)
fxfollower
Muntinlupa + Phillipines
 
Posts: 13 since Jan 2013
Thanks Given: 1
Thanks Received: 3

I trade to get further liquidity....but mine is more following, as I cannot call myself a trader yet/.....not that I have not tried.but...not my cup of tea...

Reply With Quote
  #17 (permalink)
 
Patrick S's Avatar
 Patrick S 
Raleigh NC
 
Experience: Beginner
Platform: Ninja
Broker: Mirus/ZenFire
Trading: Oil
Posts: 628 since May 2012
Thanks Given: 394
Thanks Received: 518


DarkPoolTrading View Post
I worked in the corporate world in IT for 8 years. I always knew I was unhappy in my career but could never find a way out. Although im a friendly enough person, im not an extroverted people person. Some people thrive on human interaction. Not me. I thrive on research, statistics, burying my head in a task. More than anything, I thrive on tasks that I do because I see the value in them and because they impact me directly, not because a company tells me that they need to be done. To say I hated working in the corporate world would be an understatement. I never felt a connection to the goals of the companies I worked for. Some people get motivated when management talks about company goals and objectives while working together for the greater good. I couldn't care less about any of that.

Trading allows me to be true to my personality and strengths. It gives me the freedom (and solitude) required to learn more about myself and how I view the world. It allows me to take my career in which ever direction I want.

I have found myself being a better husband and person in general because I am happier since leaving the corporate world. I now have time to read books on motivation, psychology and history and am finding my view of the world maturing as a result. This is something that never would have happened spending 50hours plus in a job I hated every week.

Trading for me is not about getting rich. Trading allows me to live a life more suited to who I am. The more I do this, the more I see how important it is for people to do what they're passionate about in life. Whatever that happens to be. You spend more time working every week than anything else. So why spend the majority of your life doing something you hate.

Right On brother!! Winner Winner Chicken Dinner!

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #18 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

At first, I felt I had no other choice. I had to make some serious money.

Then I felt I had another choice, but no longer wanted it. Trading provided something intangible, but magnetic.

Now I feel there is no other choice. It is becoming what I feel the most comfortable about doing for money. It requires no employees, or office rental, no advertising, no customers or sales. It is the same feeling I had when I was financially independent once before. Free.

Reply With Quote
  #19 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


DarkPoolTrading View Post

1) Although im a friendly enough person, im not an extroverted people person. Some people thrive on human interaction. Not me.

2)I thrive on research, statistics, burying my head in a task. More than anything, I thrive on tasks that I do because I see the value in them and because they impact me directly.

3) Trading allows me to be true to my personality and strengths. It gives me the freedom (and solitude) required to learn more about myself and how I view the world. It allows me to take my career in which ever direction I want.

4) I have found myself being a better husband and person in general. I now have time to read books on motivation, psychology and history and am finding my view of the world maturing as a result.

5) Trading for me is not about getting rich. Trading allows me to live a life more suited to who I am. The more I do this, the more I see how important it is for people to do what they're passionate about in life.


I liked yours better, so I edited it to fit me.

Reply With Quote
  #20 (permalink)
 
Patrick S's Avatar
 Patrick S 
Raleigh NC
 
Experience: Beginner
Platform: Ninja
Broker: Mirus/ZenFire
Trading: Oil
Posts: 628 since May 2012
Thanks Given: 394
Thanks Received: 518


I am not sure if I can bring a post over from someones Journal so I will just tell you where to go find it.
Go to the Panda Warrior Chronicles and Read post #1710 it is on page 171

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:




Last Updated on July 12, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts