I think it’s very important to understand why we behave the way we do. When we understand how something works we not only do that thing better, but we also enjoy it as well. Ask a pro trader why he continues day trading after 10am when he has already made enough money for the month. It’s because pro traders enjoy the challenge, they like to be in the market to find different expected outcomes and different ways of looking at things.
I’m sure the extra Starbucks cash isn’t that bad either
Before you start day trading it’s very important to be able to understand your definition of success. Do you want to drive around in a Ferrari and show off to your friends and acquaintances, be honest with yourself, you might look good Ferrari. Just do yourself a favor and buy it red, Ferrari’s is a car best served red.
Are you dying to have your wife work only because she wants to? Not because she has to? I bet some of you are trying to find away to pay your kids through college, all three of them. They have something called protection now a days you now.
My definition of success? FREEDOM
I don’t want money, I don’t fame, I don’t want fortune. All I want is my freedom, to have the ability to pay off my mom’s mortgage for bringing to the United States when we had nothing. To travel as I please and not have to worry about money. To have the freedom to pay for my little brother’s and sister’s college so they don’t have to stay in a third world country with no opportunity.
If you want to be rich that’s completely okay. You can make a lot of money day trading, more than you ever dreamed of. The importance of finding what drives you is to keep you motivated to get you to that next step. Learning how to Day Trade isn’t easy, most day traders give up after a few months or after a few years when day trading companies have drained them of all they have.
The E-Trade Baby.. Who doesn’t love the E-trade baby?
If you find what drives you there will be nothing that stops you. It took me over 4 years to be profitable but I never stopped and you know what I am doing now? I am traveling around the world and actually making money off of it. I have been invited by the government of Israel for a free press trip and even worked out partnerships with the tourism partners of Zambia.
- When you find your definition of your success you will find your drive.
- When you find your drive there is nothing that will stop you from achieving your dreams.
What’s your definition of success?
Freedom is also my definition of success, as someone who is currently working 7 days a week while also doing a bachelors degree I feel trapped in a monotonous weekly cycle and I see trading as my ladder out of the well and that what drives me..
While on vacation recently I tasted this elusive freedom and you know what.. it was great, but what felt even greater, the fact that I knew this didn’t have to be this way, it didn’t have to be 2 weeks out of 52 of freedom, there is light at the end of the tunnel and I’m fully committed to getting there whatever way needs be.
Thats awesome to hear Craig… to get your hopes down I actually was working roughly 90 hours a week to get to where I am now.. there is definitely a light at the end!
Just followed this thread….as a financial professional I can certainly share that success has a lot to do with making more than you are spending, compound that over time and the surplus provides an opportunity to transfer value to those that have what you may want (airfare to Kenya or Bali…great dinner down the street or what I like, hanging out in KEP Cambodia for a week…. )…. but… the 90 hours is part of what is the statistically tested 10,000 hours required to get good at something..and over 35 years in the financial industry…it seems that number is close to right…for pilots, law, CPAs and any profession that requires skill and “screentime”. That is the biggest fraud in the marketing by all the education houses in the trading biz (I spent over $30k)….they forget that 10,000 hour factor….but let me share with you … its real..plus or minus. Do not ignore the 10,000 rule..its real..and its conservative.