nac Calling JOBBERS/SCALPERS
- Thread starter nac
- Start date
Dear Dan,
Much delighted to see your reply on something which had put me at crossroads in my life earlier and I think would also have impacted all us traders.
While I can go a couple of steps back and start discussion on : Why do we trade? What is a personality of a trader? Did we undertake trading profession just because we are not asked questions, no one supervises us, no one gives us instructions, deadlines, targets and there is no appraisal etc. or more realistically are we incompetent at other professions?
But I will leave it for everybody to ponder over the above.
Coming to the point of making trading as a full time profession, I pose a simple question:
What do we need for a living, I mean, a good living?... MONEY !!! But is money everything which can get us all what we need in life?
While initially a decade ago I thought so, but then I realized that it isnt the only thing. All traders want to make money, more money and even more money but what about the life you are leading. I have met many traders in my life a few of them very successful. They have tons of money but I fear what kind of social life they lead for themselves their society and do they have a sense of satisfaction of having done or helped someone or their community. If they indulge in parties or donations to show off their wealth, it is all short lived. People around them do not understand their profession and are not interested in knowing it either and most disturbing is that these successful full time traders do not find any thing in common to discuss at social gatherings, marriages or even during morning jogs. They are all aloof for the rest of the world and their world is either 10x10 office or a tiny room of their big houses.
Some of you may not agree with what I have written because the immediate thought that would come is all the above is absurd and we all can lead a good social life as we will have lots of money and more and more free time to devote to our families and society. But just imagine what happens after 6 months, 1 year, 5 years, 10 years would you still feel the same.
Man is a SOCIAL ANIMAL, and we all need people to talk, listen, love and confide. Trading is one profession which does not involve anybody else than you. You live with yourself. You are your best friend, the worst enemy, it is you and only you. The people around you give you a skip and you dont understand them as you have mentality of a trader which they dont have so there is no compatibility. You cant teach them trading too as your strategies and methods will not work for them, even if someone does trades as per your advise, he will still lose in the long run as your personality and risk taking ability is different to theirs. So you are all alone again.
Thanks to technological advancement, most of the full time traders will find virtual friends, enemies on such forums, some will become virtual mentors. Their lives will be confined to a monitor for trading during the day and seeking peace by surfing the net during the night. A few may write books, newsletters which will contain nothing different than thousands of trading books available today. - A point to ponder again!!!
The problem with most of the part time traders (who are also doing jobs) is that they WANT TO LEAVE their jobs and do full time trading but are still hooked on the job (for whatever reasons) due to this conflict in their minds they fail in trading and at job too. I being one of them a few years ago, when redefined my objective (by incorporating the initials discussion above) of NOT wanting to leave my job and doing only part time trading, I could see U turn, both at trading and at work.
I find it worthwhile to lead a neutral life, make money by trading part time and still feel complete by being just another man going out to work every day morning.
Regards,
p.s. Again sharing my thoughts basis my experience, no offence meant to senior and respected full time traders on this forum.
Much delighted to see your reply on something which had put me at crossroads in my life earlier and I think would also have impacted all us traders.
While I can go a couple of steps back and start discussion on : Why do we trade? What is a personality of a trader? Did we undertake trading profession just because we are not asked questions, no one supervises us, no one gives us instructions, deadlines, targets and there is no appraisal etc. or more realistically are we incompetent at other professions?
But I will leave it for everybody to ponder over the above.
Coming to the point of making trading as a full time profession, I pose a simple question:
What do we need for a living, I mean, a good living?... MONEY !!! But is money everything which can get us all what we need in life?
While initially a decade ago I thought so, but then I realized that it isnt the only thing. All traders want to make money, more money and even more money but what about the life you are leading. I have met many traders in my life a few of them very successful. They have tons of money but I fear what kind of social life they lead for themselves their society and do they have a sense of satisfaction of having done or helped someone or their community. If they indulge in parties or donations to show off their wealth, it is all short lived. People around them do not understand their profession and are not interested in knowing it either and most disturbing is that these successful full time traders do not find any thing in common to discuss at social gatherings, marriages or even during morning jogs. They are all aloof for the rest of the world and their world is either 10x10 office or a tiny room of their big houses.
Some of you may not agree with what I have written because the immediate thought that would come is all the above is absurd and we all can lead a good social life as we will have lots of money and more and more free time to devote to our families and society. But just imagine what happens after 6 months, 1 year, 5 years, 10 years would you still feel the same.
Man is a SOCIAL ANIMAL, and we all need people to talk, listen, love and confide. Trading is one profession which does not involve anybody else than you. You live with yourself. You are your best friend, the worst enemy, it is you and only you. The people around you give you a skip and you dont understand them as you have mentality of a trader which they dont have so there is no compatibility. You cant teach them trading too as your strategies and methods will not work for them, even if someone does trades as per your advise, he will still lose in the long run as your personality and risk taking ability is different to theirs. So you are all alone again.
Thanks to technological advancement, most of the full time traders will find virtual friends, enemies on such forums, some will become virtual mentors. Their lives will be confined to a monitor for trading during the day and seeking peace by surfing the net during the night. A few may write books, newsletters which will contain nothing different than thousands of trading books available today. - A point to ponder again!!!
The problem with most of the part time traders (who are also doing jobs) is that they WANT TO LEAVE their jobs and do full time trading but are still hooked on the job (for whatever reasons) due to this conflict in their minds they fail in trading and at job too. I being one of them a few years ago, when redefined my objective (by incorporating the initials discussion above) of NOT wanting to leave my job and doing only part time trading, I could see U turn, both at trading and at work.
I find it worthwhile to lead a neutral life, make money by trading part time and still feel complete by being just another man going out to work every day morning.
Regards,
p.s. Again sharing my thoughts basis my experience, no offence meant to senior and respected full time traders on this forum.
Last edited:
Hi tnsn2345
As I was reading some of your post, I was sure, that there are more thoughts behind your written words.
I was hopping, my thoughts have come through my post by writing it the way I did.
As I see now, you did not take it as an offense ( I nearly wrote : a fence:lol: ) and so it was meant.
Thanks for your open words and have a really nice weekend.
DanPickUp
As I was reading some of your post, I was sure, that there are more thoughts behind your written words.
I was hopping, my thoughts have come through my post by writing it the way I did.
As I see now, you did not take it as an offense ( I nearly wrote : a fence:lol: ) and so it was meant.
Thanks for your open words and have a really nice weekend.
DanPickUp
Tnsn sir, I sometimes personally feel so happy when I see such wonderfull postings from such wonderfull fellows here. I sometimes feelings that some of my best friends are not in my real life but here only. Some masters, like you, Dan sir, AW10 sir, Aaditya sir and students like me we all make a family here only.
But you has correctly said that we should not be with computer monitors and we has to do more to the socity and our family so we can have a happy life in real terms. This is a great thought which we all should think of beign happy in doing what we are doing and also sharing and becoming part of fellows around us in our life.
Thank you
But you has correctly said that we should not be with computer monitors and we has to do more to the socity and our family so we can have a happy life in real terms. This is a great thought which we all should think of beign happy in doing what we are doing and also sharing and becoming part of fellows around us in our life.
Thank you
Hi!!!
Hope you all doing good. I was busy with my house renovation work. I am back. I will be start trading by monday. I will start from the place where I left. Hope I will find the curve this month.
Hey dan and tnsn,
Your post on full-time traders was fantabulous. :thumb:
I was smiling when I read these as if it was pin pointing me.
"most active members have gone into hibernation"
"most of the full time traders will find virtual friends, enemies on such forums"
I am leaving now... I will be back soon.
Hope you all doing good. I was busy with my house renovation work. I am back. I will be start trading by monday. I will start from the place where I left. Hope I will find the curve this month.
Hey dan and tnsn,
Your post on full-time traders was fantabulous. :thumb:
I was smiling when I read these as if it was pin pointing me.
"most active members have gone into hibernation"
"most of the full time traders will find virtual friends, enemies on such forums"
I am leaving now... I will be back soon.
Hi!!!
Hope you all doing good. I was busy with my house renovation work. I am back. I will be start trading by monday. I will start from the place where I left. Hope I will find the curve this month.
Hey dan and tnsn,
Your post on full-time traders was fantabulous. :thumb:
I was smiling when I read these as if it was pin pointing me.
"most active members have gone into hibernation"
"most of the full time traders will find ‘virtual’ friends, enemies on such forums"
I am leaving now... I will be back soon.
Hope you all doing good. I was busy with my house renovation work. I am back. I will be start trading by monday. I will start from the place where I left. Hope I will find the curve this month.
Hey dan and tnsn,
Your post on full-time traders was fantabulous. :thumb:
I was smiling when I read these as if it was pin pointing me.
"most active members have gone into hibernation"
"most of the full time traders will find ‘virtual’ friends, enemies on such forums"
I am leaving now... I will be back soon.
I was hoping you didnt blow your account. Nowadays there are so many low range/sluggish days due to anticipated news-today it was the Inflation numbers,last week it was the GDP nos. Volumes in some securities shift so unless you enter by 10:30 entries are usually difficult.
One needs to actively scan the market for profitable entries nifty,or intraday in nifty constituents,Stock futures etc . Selecting the right security either equity or futures is the key part.
Also tnsn was accurate in that we trade better when we have other things to do so that we do not go overboard .We may tend to indulge after market paralysis of analysis of excess information.
Hello Nac, Alroyraj,
Nice to see Nac, Alroyraj sir, here again. I has just started tradingin Options also, and has done well I think, as my first two trades were in profit. I just sold, Call and Put options both together and earned some money on time decaying on both the trades. I am learing options slowly hope I do it good also like RIL shares trading.
Thank you.
Nice to see Nac, Alroyraj sir, here again. I has just started tradingin Options also, and has done well I think, as my first two trades were in profit. I just sold, Call and Put options both together and earned some money on time decaying on both the trades. I am learing options slowly hope I do it good also like RIL shares trading.
Thank you.
Hi ranger123
Do not forget to mention all the other ones, which help to improve the knowledge of options in traderji.
Each one of us has his own ideas and we have different ways of learning behind us.
We also have different ideas of giving away some of our knowledges and we also have different ways of teaching.
Look at it as a whole team.
Take care
DanPickUp
Do not forget to mention all the other ones, which help to improve the knowledge of options in traderji.
Each one of us has his own ideas and we have different ways of learning behind us.
We also have different ideas of giving away some of our knowledges and we also have different ways of teaching.
Look at it as a whole team.
Take care
DanPickUp
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