March 31, 2017 at 6:52 am
jay-h - Friday, March 31, 2017 6:21 AMdrew.allen - Thursday, March 30, 2017 2:18 PMEric M Russell - Thursday, March 30, 2017 1:46 PMI don't remember the exact statistics, but about 89% of people who try day trading lose most of the money invested, another 6% break even or make a small profit, and only about 5% can make a living off of it. I've switched to swing trading, because I can do it in my spare time and it's less risky, especially with the current method I'm using. It's also much slower, and I couldn't make a living off of it.
Drew
With day trading you're competing with automated systems working in millisecond time frames (which is why the 'leap second' is a big issue to them.) Hard to compete in that area.
I'd rather be the guy who makes his million by selling day trading software and training courses. The folks who sit at home in their pajamas assuming all the risk; they seem like they're being used as a patsy. The same goes for flipping property; the real-estate agents are the smart guys, because they get their 3 - 6% commission off the top regardless of whether the property is sold by the owner for a profit or loss.
"Do not seek to follow in the footsteps of the wise. Instead, seek what they sought." - Matsuo Basho
March 31, 2017 at 6:55 am
Lynn Pettis - Thursday, March 30, 2017 3:50 PMdrew.allen - Thursday, March 30, 2017 2:18 PMI don't remember the exact statistics, but about 89% of people who try day trading lose most of the money invested, another 6% break even or make a small profit, and only about 5% can make a living off of it. I've switched to swing trading, because I can do it in my spare time and it's less risky, especially with the current method I'm using. It's also much slower, and I couldn't make a living off of it.Drew
Never heard of swing trading. May need to look at.
Is "swing trading" the same thing as "swing swapping"?
(Warning: NSFW) :Whistling:
"Do not seek to follow in the footsteps of the wise. Instead, seek what they sought." - Matsuo Basho
December 10, 2021 at 5:59 am
This was removed by the editor as SPAM
December 10, 2021 at 3:59 pm
I used to define myself by my work. Full-on, 100% of the time. I became known for some of the tools I created, and for some of the things I did. I was a regular at the big conferences (MMS, TechEd, OpsWorld, etc) and I used to get a kick out of people (who I didn't know and had never met) greeting me by name and thanking me for things I'd done that had helped them. Worked for a startup and ran a personal lab in my home that would put a lot of mid-sized companies to shame, and often had colleagues leave the office and come to my house to get real work done. It was intense, it was FUN, and I thrived on it!
But that was years and years ago...
Now, having seen too many friends and loved ones get sick or die, and having gone through too many corporate "re-orgs", working too many nights, at too many toxic companies, treading water in one bottomless ocean of mindless corporate processes after another - I realize that at some point along the way I've done a full reversal.
Work is now "just work", if even that. It's nothing more than a stop in my day. No emotional attachment to it at all. When I'm not at work, I don't even think about it anymore. It's totally autonomic.
I'm still a "full on, 100% of the time" kind of person, and having a ton of fun. Just not at work anymore.
My passion in life has changed from "work focused" to something more like "experience focused", and I rather suspect that I'm not alone in this regard. I'm just as happy today as I was back then (and I *am* nationally known again for something totally outside of work, so that kick still exists for me).
What changes a person from being "work focused" into something else...? I think burnout is the biggest part of it. A contributing factor may be when a person reaches the point of financial independence, and comes to the realization that they simply don't have to be anywhere they don't want to be. Age - or perhaps call it "life experience" - may be a part of it as well, as I'm now a decade older than my own father was when he retired, and I'm still "working".
December 12, 2021 at 3:55 pm
I used to define myself by my work. Full-on, 100% of the time. I became known for some of the tools I created, and for some of the things I did. I was a regular at the big conferences (MMS, TechEd, OpsWorld, etc) and I used to get a kick out of people (who I didn't know and had never met) greeting me by name and thanking me for things I'd done that had helped them. Worked for a startup and ran a personal lab in my home that would put a lot of mid-sized companies to shame, and often had colleagues leave the office and come to my house to get real work done. It was intense, it was FUN, and I thrived on it!
But that was years and years ago...
Now, having seen too many friends and loved ones get sick or die, and having gone through too many corporate "re-orgs", working too many nights, at too many toxic companies, treading water in one bottomless ocean of mindless corporate processes after another - I realize that at some point along the way I've done a full reversal.
Work is now "just work", if even that. It's nothing more than a stop in my day. No emotional attachment to it at all. When I'm not at work, I don't even think about it anymore. It's totally autonomic.
I'm still a "full on, 100% of the time" kind of person, and having a ton of fun. Just not at work anymore.
My passion in life has changed from "work focused" to something more like "experience focused", and I rather suspect that I'm not alone in this regard. I'm just as happy today as I was back then (and I *am* nationally known again for something totally outside of work, so that kick still exists for me).
What changes a person from being "work focused" into something else...? I think burnout is the biggest part of it. A contributing factor may be when a person reaches the point of financial independence, and comes to the realization that they simply don't have to be anywhere they don't want to be. Age - or perhaps call it "life experience" - may be a part of it as well, as I'm now a decade older than my own father was when he retired, and I'm still "working".
I like what you're written here. I haven't the name recognition you have enjoyed. I've gone to fewer conferences. And none of my colleagues have ever been to my home. But, I can still relate, at least to some of what you said.
Kindest Regards, Rod Connect with me on LinkedIn.
Viewing 5 posts - 46 through 49 (of 49 total)
You must be logged in to reply to this topic. Login to reply