Is Trading What You Expected?

[Xiao si 10]

Replacing a full-time job was my first motive why I've entered this endeavor.

 

But trading offers me many other things which I have summarized in the very first part of my business plan, under "Motivation". I've divided it into 2 sections, motivation towards things and motivation away from things. It is in part repetitive, but I've kept some items on both sides as they are so important to me.

 

Motivation towards:

 

- Being able to fulfill my potential/Doing what fits my personality best

- Personal and financial independence (making a living), being able to control my life

- Seeing the family on a weekly basis

- Being able to build and keep a social network (I had no time for this in my former job...)

 

Motivation away from:

 

- Being controlled by others

- Stress (rushing from meeting to meeting, lots of traveling)

- Getting out of shape (bad eating habits, less/no sports)

- Letting others stand in my way (relates to fulfilling my potential)

 

And I'm getting all of the positive things above from trading and avoid the negative things. So, I'm quite happy about it. But keep in mind that these points refer to MY life situation as I had it before I've started with trading. Hence, it is very individual and relative.

 

Of course, trading is stressful like someone mentioned, sometimes VERY stressful. But you can not have everything at once in life. You have to pay a price for everything...

 

But I don't like the discussion of what's more stressful... it depends very much on each individual situation. Trading stress for me is a different kind of stress than what I have experienced in the corporate world. But I would say that my overall stress level decreased enormously as the major stress came from not being able to see friends and family on a regular basis.

 

Great Post mate....much the same motivations as myself too.

 

One thing you don't hear enough of from experienced and successful traders is why you CAN do this, and how it is possible. Many seem to only want to tell you how impossible it is, how you can't do it.

 

I personally believe that as human beings we can do anything we really put our minds to. We are only restricted by ourselves, by our beliefs. Believe you can do it, and you will.

 

One of the first discussions i had with my trading coach was about how possible this was...not how impossible it was. To him, it wasn't a question of IF i would be successful, only how and when. Now of course that is his living too, helping other traders become successful through understanding and changing their psychology, but we all need to hear that...to hear that it IS possible.

 

Those that are successful need to be more forthcoming with this revelation, yeah its possible. You can do it. Its hard bloody work, but you can do it.

 

 

 

XS

[gosu 10]

Great Post mate....much the same motivations as myself too.

 

One thing you don't hear enough of from experienced and successful traders is why you CAN do this, and how it is possible. Many seem to only want to tell you how impossible it is, how you can't do it.

 

I personally believe that as human beings we can do anything we really put our minds to. We are only restricted by ourselves, by our beliefs. Believe you can do it, and you will.

 

One of the first discussions i had with my trading coach was about how possible this was...not how impossible it was. To him, it wasn't a question of IF i would be successful, only how and when. Now of course that is his living too, helping other traders become successful through understanding and changing their psychology, but we all need to hear that...to hear that it IS possible.

 

Those that are successful need to be more forthcoming with this revelation, yeah its possible. You can do it. Its hard bloody work, but you can do it.

 

 

 

XS

 

Hmm.... Two words came to my mind when I read your post: cannon fodder.

 

People who talk constantly about how possible it is are usually in the same boat with people who have convinced themselves it is impossible.

 

Instead of talking with others about how possible it is, you're much better off keeping silent and just doing it. The corollary is that if you need to hear that it is possible, you're not in much shape to do it.

 

Moreover, beliefs are overrated. Either a person can or cannot. If he can, he doesn't stop to think whether he believes or not. If you he can't, then maybe he wants to believe he can, but that doesn't change the fact that he can't.

Edited March 26, 2012 by gosu

[Xiao si 10]

Hmm.... Two words came to my mind when I read your post: cannon fodder.

 

People who talk constantly about how possible it is are usually in the same boat with people who have convinced themselves it is impossible.

 

Instead of talking with others about how possible it is, you're much better off keeping silent and just doing it. The corollary is that if you need to hear that it is possible, you're not in much shape to do it.

 

Moreover, beliefs are overrated. Either a person can or cannot. If he can, he doesn't stop to think whether he believes or not. If you he can't, then maybe he want's to believe he can, but that doesn't change the fact that he can't.

 

 

Oh yeah, I knew my post would attract some response....thanks for posting...

 

So far i haven't been surprised by the post(s). Lets see what other advice we get.

 

XS

[Xiao si 10]

Moreover, beliefs are overrated.

 

This is YOUR belief mate.....don't pretend everyone agrees with you.

 

Ahh the forum crowd...

 

XS

[gosu 10]

Oh yeah, I knew my post would attract some response....thanks for posting...

 

So far i haven't been surprised by the post(s). Lets see what other advice we get.

 

XS

 

Just want to clarify that I'm not advising you or anyone else of anything.

 

There may be some direct and indirect suggestions in my post but that's all they are.

[gosu 10]

This is YOUR belief mate.....don't pretend everyone agrees with you.

 

Ahh the forum crowd...

 

XS

 

No, mate, what I expressed was an OPINION. Just like your "belief" that it's possible for you to trade is YOUR opinion, or more accurately, your HOPE until you do it.

 

If you're still confused, go ask your coach.

[Xiao si 10]

No, mate, what I expressed was an OPINION. Just like your "belief" that it's possible for you to trade is YOUR opinion, or more accurately, your HOPE until you do it.

 

If you're still confused, go ask your coach.

 

Just another helpful trader....

 

I'm getting what i was sooo expecting...no surprises here.:crap:

 

XS

[gosu 10]

Just another helpful trader....

 

I'm getting what i was sooo expecting...no surprises here.:crap:

 

XS

 

Yeah but you're enjoying yourself, right?

[Xiao si 10]

Yeah but you're enjoying yourself, right?

 

Pretty much yeah lol!

 

No better way to fill in a morning in between optimization runs than by harassing would be trading experts about why they don't be more positive when encouraging young wanna be's'

 

Cheers!

 

XS

[gosu 10]

Pretty much yeah lol!

 

Well then, you've reached the limit of what you can get out of this place. Expect more and you're liable to be disappointed. Again just my OPINION. :evil tongue:

 

Cheers to you as well.

[karoshiman 10]

 

One thing you don't hear enough of from experienced and successful traders is why you CAN do this, and how it is possible. Many seem to only want to tell you how impossible it is, how you can't do it.

 

I personally believe that as human beings we can do anything we really put our minds to. We are only restricted by ourselves, by our beliefs. Believe you can do it, and you will.

 

XS

 

It certainly is possible. And I personally don't like it too if someone who is supposedly successfull is trying to talk others out of this endeavor. Without knowing someone personally and being able to assess their personal situations adequately you cannot say whether he or she is able to succeed in this or not. Although, I agree that the majority of people will not succeed in this. Just as like the majority of people will not be able to get managing positions in a larger company. If someone did not have any success in his or her life up to now then it is very probable that this person will not succeed in trading either. In my view the recipe for success no matter in what field is always the same...

 

Belief is for me the first step. If you don't believe... well then you don't do it in the first place. I mean you actually don't even try it. That's what I've witnessed very early in my life that most people think success is only for the others but not for them (I'm from Europe though... might be different in the US). Hence, they didn't even try to become more... That seemed strange to me... and not very logical.

 

But still, I think Gosu has a valid point, that belief is overrated as belief alone will not lead you to anything... maybe to frustration.

 

Like you said Xiao si, you need a lot of hard work to make it happen or even obsession.

 

But I would add also the ability to think independently. Without this you can never step out of the crowd.

 

Finally, if you want to become world class in any field you need innate skill or talent.

 

Having said this, I think if someone is willing to work hard and is able to think straight he or she can become a profitable trader. Can he or she become a millionaire by doing this? That's possible, but depends on the innate skills this person has. And you cannot do anything about the latter.

 

 

 

PS: By the way Xiao si, I was in Suzhou in 2010. My former company has a factory there

[Xiao si 10]

It certainly is possible. And I personally don't like it too if someone who is supposedly successfull is trying to talk others out of this endeavor. Without knowing someone personally and being able to assess their personal situations adequately you cannot say whether he or she is able to succeed in this or not. Although, I agree that the majority of people will not succeed in this. Just as like the majority of people will not be able to get managing positions in a larger company. If someone did not have any success in his or her life up to now then it is very probable that this person will not succeed in trading either. In my view the recipe for success no matter in what field is always the same...

 

Belief is for me the first step. If you don't believe... well then you don't do it in the first place. I mean you actually don't even try it. That's what I've witnessed very early in my life that most people think success is only for the others but not for them (I'm from Europe though... might be different in the US). Hence, they didn't even try to become more... That seemed strange to me... and not very logical.

 

But still, I think Gosu has a valid point, that belief is overrated as belief alone will not lead you to anything... maybe to frustration.

 

Like you said Xiao si, you need a lot of hard work to make it happen or even obsession.

 

But I would add also the ability to think independently. Without this you can never step out of the crowd.

 

Finally, if you want to become world class in any field you need innate skill or talent.

 

Having said this, I think if someone is willing to work hard and is able to think straight he or she can become a profitable trader. Can he or she become a millionaire by doing this? That's possible, but depends on the innate skills this person has. And you cannot do anything about the latter.

 

 

 

PS: By the way Xiao si, I was in Suzhou in 2010. My former company has a factory there

 

I think we are on the same page Karo.

 

Thats quite a coincidence about you working in Suzhou...small world it is. I have several ex-pat friends and even in-laws that work in factories around this area. Suzhou is a great little city and the weather is finally warming up so its the best time of years too.

 

Many of the big players are here, Bosch, Caterpillar, Samsung...to name a diverse few.

 

Cheers,

 

 

XS

[karoshiman 10]

Hi Xiao si,

 

I wasn't there for the whole year, just for a day, visiting the factory

 

Sorry, my post was misleading...

 

Yes, Suzhou is a very popular area but also expensive compared to other parts of China (labor) due to the demand.

 

But I guess we are going off-topic here...

 

Cheers,

k

[Xiao si 10]

Yes, Suzhou is a very popular area but also expensive compared to other parts of China (labor) due to the demand.

 

But I guess we are going off-topic here...

 

Cheers,

k

 

Yes, perhaps we are...send me a PM if you like. I'm interested as to your previous role and the factory that you visited and your impressions of China....

 

Cheers,

 

 

XS

[SIUYA 11]

One thing you don't hear enough of from experienced and successful traders is why you CAN do this, and how it is possible. Many seem to only want to tell you how impossible it is, how you can't do it.

 

I personally believe that as human beings we can do anything we really put our minds to. We are only restricted by ourselves, by our beliefs. Believe you can do it, and you will.

 

I think most traders who tell you how hard it is are not doing so to discourage you. They are doing so to temper your expectations and make you realise that just because you believe something is possible does not mean that it is possible and certainly does not mean that its possible for you. The fact that you think/know they are experienced and successful is all the proof you need to know that it can be done and it is possible.

 

Yes, all the positive affirmations are a good thing......but there is a lot more to it than that....that BS about "the secret" is all you need to do is believe is rubbish. It may be the first step of a 1000 mile journey but that is just the start.

I think you will find the opposite --- that all the sales traders are the ones who tell you that anyone can do this.

[MightyMouse 12]

Trading is tremendously different from what I expected.

 

1. Initially, I was fooled by luck and eventually humbled by the same.

 

2. I was unaware of the capital requirements and how they change with changing market conditions.

[karoshiman 10]

One other thing came to my mind that I did expect from trading (but which is not included in my business plan ):

 

- Being able to work in my pajamas, in torn jeans or shorts and flip-flops (as I do right now)

 

Okay, it's not the most important thing, I admit it...

 

 

(I guess it's a subitem to the point 'Independence')

[Xiao si 10]

One other thing came to my mind that I did expect from trading (but which is not included in my business plan ):

 

- Being able to work in my pajamas, in torn jeans or shorts and flip-flops (as I do right now)

 

Okay, it's not the most important thing, I admit it...

 

 

(I guess it's a subitem to the point 'Independence')

 

Yeah, i agree. Not having to rush in the morning to get showered and into the work gear is nice. Having the time to exercise, then come back, enjoy a couple of mugs of fine coffee before a nice long hot shower.

 

I like working 12-14 hours a day because i like the work, it stimulates me. I don't have anyone to blame except myself when something doesn't go right.

 

And no pesky performance reviews to do either!

 

Oh, and no poor raw material to blame everything on!

 

Cheers,

 

 

XS

[karoshiman 10]

 

...

 

I like working 12-14 hours a day because i like the work, it stimulates me.

 

...

 

 

 

That's an important point. I've realized for me that it was not the amount of too much work which led me to quit my job. In fact, it was quite the opposite. It was the frustration that many managers on my level or even some of my bosses did not share my passion for work. I had to push THEM so that we can reach our goals, which was really not my task or what I was paid for to do.

 

When you are your own boss you can really move forward with the speed that fits you best. And as you do not even have any employees or customers in trading, it's all in your hands...

[JackWell 10]

Trading is tremendously different from what I expected.

 

1. Initially, I was fooled by luck and eventually humbled by the same.

 

2. I was unaware of the capital requirements and how they change with changing market conditions.

 

I think that the problem with most of the traders is that they think forex tradin is easy and will be the answer for their financial future. However, this is far from the truth and you got to treat it like any business- invest in it, learn how to get better and hope to the returns after at least one year. Any other expectations will lead to disappointment.

[Mysticforex 13]

I think that the problem with most of the traders is that they think forex tradin is easy and will be the answer for their financial future. However, this is far from the truth and you got to treat it like any business- invest in it, learn how to get better and hope to the returns after at least one year. Any other expectations will lead to disappointment.

 

Very true. At least in Forex, many of the participants entering the market expect to turn their home PCs into a personal ATM.

[Xiao si 10]

That's an important point. I've realized for me that it was not the amount of too much work which led me to quit my job. In fact, it was quite the opposite. It was the frustration that many managers on my level or even some of my bosses did not share my passion for work. I had to push THEM so that we can reach our goals, which was really not my task or what I was paid for to do.

 

When you are your own boss you can really move forward with the speed that fits you best. And as you do not even have any employees or customers in trading, it's all in your hands...

 

 

This really resonates with me...They just didn't all share the passion for the job...

 

XS