I feel that my work are getting in the way of my real passion in like i.e. financial markets, economics and trading. I get more and more agitated when I sit through long meetings constantly wondering what is happening in the market. I wake up in the morning and the first thing I do is switch on the TV and jump between CNBC, Bloomberg and Summit to get up to date with the latest news. This is also the last thing I do before I go to bed. I juggle my work between research, analysis and trades. I generally find that most conversations I have ended up with something about the economy, business or money. When I'm in a trade I'm generally on a high. When I'm out of the market, I grave getting back in again. Fortunately I have enough discipline to stick to my entry and exit's which has resulted in a pretty good % gain this year. Alan Knott Craig says in his book - "If you don't like what you see in the future, then create one you like". My definition of financial freedom would now also constitute being able to earn more from trading annually then my salary. Good trading too you all.
gambling is one of the most powerful psychological addictions there is, so make sure that your addiction is not a gambling one (not that I am saying that it is!!) If for one can say that this was one of my biggest fears - not entries or exits, but that I would develop an addiction. People worry about the damage that casinos can do to a person, but I put it to you that it pales completely in comparison to what online share trading can do. Their aint no gamblers anonymous in the online share trading industry - all we have is the support we can get out of forums such as this one.
I agree. I have certainly felt addicted to the market at many times so I know the symptoms. I was ignoring other aspects of my life. The goal part of trading/investing is awesome, but the addiction part is to be realised and actively combated, IMHO. I think 80/20 principle can take you far and leave you time for spending on other projects/people/interests. It's real money so must be taken seriously, but the addiction part is just juicing an unconscious part of us and it hurts us more than it helps.
keep ur job bru...otherwise u become an island holed up day in day out in front of screens incapable of talking about anything without adding an economic slant. When times r good, u morph into Santa Claus and when bad u make Hitler look like a puppy. Most of all you lose touch with the real action in the real world. I'm 38 and have been doing this full time for almost 7 years now. The worst thing is that you don't value money anymore as you don't touch/feel/smell it...they just become buy/sell orders; and when that sets in your persona your risk appetite goes exponential and u could see ur a$$. With my impending move to Cape Town I actually want a new start and to actually see people everyday, hence looking to get back into the corporate world...but guess what...it ain't so easy when you've been off the planet away from action for so long....so trust me, keep the job. adios!
A sobering post,Dinen.I reckon addiction here is a bigger problem than anyone wants to admit,but this is just my feeling.Finances can be wrecked here and I think a lot of people leave penniless.Fortunately about 2% probably make a living off it and Standard Bank OST does very well,(thank you all for your contributions).Hope springs eternal in the (addicted)human breast.
it wasn't so much the system, rather the time frame and number of counters I traded .. to be lazy I extended time frame for less trades per year (reduced trade numbers by about 95%) and reduce number of counters by 80% ..