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  • #21
  • Oct 21, 2019 3:03pm Oct 21, 2019 3:03pm
Quoting detector
{quote} ST, an honest post, anyone who tries their hand at trading, researching, demo, strengthening their knowledge has to be respected, winning or not, the fact they take a step needs credibility, we know it's not easy but persistence can pay off, I think the response to you post has been unfair, RT, were all here trying so that cannot be forgotten, it's easy when you how (in general) so I think encouragement/help is more fitting on a site where people come for that very thing, not having a go but your post is a little insulting, I think your...
Sorry for that , i was a bit aggressive only due to his statement "We are here because we are not succesfull in this game" ,when the correct formulation was "We are here because we want to be succesfull in this game" or "I am here because i am not succesfull in this game"... i gave him a possible solution on why he is not successful ... ST made affirmations regarding an entire community ,ST should resume his affirmations only regarding own case...people join forums to exchange information, is what i think they are designed for...i used plural only because he used plural,but i can only speak for myself... i understand his frustration and nothing can guarantee success in trading, ST should use money he can afford to loose...
  • #22
  • Oct 21, 2019 3:13pm Oct 21, 2019 3:13pm
Quoting RobyTurboSS
{quote} Sorry for that , i was a bit aggressive only because he stated "We are here because we are not succesfull in this game" ,when the correct formulation was "I am here because i am not succesfull in this game"... i gave him a possible solution on why he is not successful ... ST made affirmations regarding an entire community ,ST should resume his affirmations only regarding own case...people join forums to exchange information, is what i think they are designed for...i used plural only because he used plural,but i can only speak for myself......
Apologies to Auricforecas, looking to get this back on track, thanks RT, I liked as it was a half way one, ST gave an honest view so credit where credit due, but who would openly admit is surely worthy of some guidance, not that I'm fighting any battles but hey, if we're going to move in circles why not together, we may make the wrong statement from time to time but think we have an understanding, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #23
  • Edited 5:29pm Oct 21, 2019 3:32pm | Edited 5:29pm
Quoting ForestX
I've been waiting for someone to put big balls in this kinda thread. Me myself been having problems with inner-self. How small ballsy I am at trading even when I get a really good forecasting while just looking at anything with any indicators because I put my own ego aside but when I need to decide whether to click Buy/Sell button. My ego starts dumping pure BS on me because of how overconfident I am and get into things too early. Might as well trade with someone else by my side while bragging how shit my TA is for him but at least get some of the...
Great man

BTW... glad this thread started rolling a little Appreciated... Yeah, I think you are a a good trader, at least potentially.. knowing your weaknesses... and recognising potential strengths... That was the purpose for my TP20SL20 and SINGLE STRIKE threads... To make something glorious together... Also I was talking about this... breaking trading to components and analyse strength/weaknesses... The idea is that we should group our strong points together... As I was already explaining.... I do suggest to people to break-down trades to components, like price prediction, risk management, "would price hit if wider SL" etc etc... So maybe some of you are sitting on the goldmine or oil rig and are not even aware of it! I was using same price prediction model, improved it much.. but until I adjusted other parameters... would appear I suck... but when I adjusted... everything aligned, at least some of the time.

So the main components that we should look for are: price prediction, risk management, emotional control/stability... and also some fundamentals/technicals + some technical/IT edge does help (much) sometimes we need fundamentalists/technicals - if for not other thing.. to double-check maybe and to avoid entering the trade at wrong time.. (yeah we might not know what the "right" time is... or we wouldn't be watching this very thread atm.... right meaning.. almost perfect... SL close to 0PIP... but we sure know when there is wrong (high-risk time to enter...), for example.. just before certain news with rather unknown consequences.. or even at some technical (patterns, rebounds... etc). So if i would self-analyse.. I would say price prediction, trends... would be my strong point if anything.. also in smaller timeframes.. but since it is not perfect and we want to make big money.. with leverage... TP/SL/LEV have to be set good also.. I use rather simplified variable method for this... but I am still looking if someone would show me better, more profitable way to harvest my "predictions"... I have no problem with executing the trades... I also semi-automate the ones that I can.. I am bad at watching markets all the time... do not have nerves for this... I prefer set and (temp) forget... check later.. I hope we can group ourselves to PRICE FORECASTS (breakdown to fundamentals, technicals, pattern recognition, X) and to HARVESTERS.... meaning that there would be people that would see/propose optimal HARVEST strategy... considering the predictions, market conditions, and past combinatorics, from past... at different TP/SL/LEV parameters.. BTW I under-harvested MUCH, specially in the early days... Could have pulled crazy returns... (for certain amount of time)... before I pulled out... BTW had help there... someone suggested it's time to PULL-OUT certain high-risk streak.. and I am happy I did.. it went to shit 2trades after that So we need each other... Should you people be interested, we could group like this and make INSANE profits, together... No ego man...

To others also... If you want MONEY... WELCOME.. Only one thing counts here! If you want to MAKE IT or had at least a good chance!
BTW quotes/clips below are for INSPIRATION or in other words... to get you INTO THE ZONE... After you done trading, you can ZONE yourself out and believe/preach whatever.. but it sure does help to get you into MONEY HUNGRY TERMINATOR In one of the links before (million dollar traders) people were thinking all sorts of things while trading... you should know the result....

BTW this thing seems retarded.. but many FAIL at this.. at least sometimes or eventually.. I mean just check... how many people that bring CRAZY value.. got ignored.. bits my ass... I mean I would trade by worst enemies signals.. the person I would hate as a mofo... as long as I can make money out of his forecasts, signals... but many do not understand this, do not want to... have bigger issues to deal with that are superseding wish for money.. or are just ego-tripping, trolling

Here are some epic money quotes... to INSPIRE you.. WHY are we trading...

Other People's Money (1991)
GARFIELD: I love money. I love money more than I love the things it can buy. Does that surprise you? Money, it don't care whether I'm good or not. It don't care whether I snore or not. It don't care which god I pray to. There are only three things in this world with that kind of unconditional acceptance: Dogs, doughnuts, and money. Only money is better. You know why? Because it don't make you fat, and it don't poop all over the living room floor. There's only one thing I like better: Other people's money. http://www.greatbooksandfilm.com/otherpeoples.htm
(direct linke to exact time: t=25s)
Inserted Video


Wolf of Wall Street (2013)
Wanna be a better person, save spotted owl ? Get money!
Inserted Video


Wall Street: Money Never Sleeps (2010)
Gekko says... it is not about the MONEY.. it is about THE GAME (yeah, funny, since he played in that one also
Inserted Video


The Departed (2006)
Can't get enough.. it's not about the NEED (only)... cracks me up
"I haven't needed the money since I took Archie's milk money in the 3rd grade, tell you the truth, I don't need the pussy anymore either. But I like it." (Jack Nicholson as Frank Costello)
(direct link to exact time: t=50s)
Inserted Video


I Think I Love My Wife (2007)
A little controversial maybe, for some, but hey.. maybe it might help with some dilemma
I THINK (at least) some of us paid a good price getting that lesson
Mr. Landis: You can lose lots of money chasing women, but you will NEVER lose women chasing money.
Inserted Video
Can you afford to take that chance?
  • #24
  • Edited 3:46pm Oct 21, 2019 3:35pm | Edited 3:46pm
Quoting detector
{quote} Apologies to Auricforecas, looking to get this back on track, thanks RT, I liked as it was a half way one, ST gave an honest view so credit where credit due, but who would openly admit is surely worthy of some guidance, not that I'm fighting any battles but hey, if we're going to move in circles why not together, we may make the wrong statement from time to time but think we have an understanding, D
Hey man, this THREAD is FREE .. as long one doesn't spam too much (with totally unrelated things - which I do not see atm) of course... I have very high bar limit for that... Any debate is good, to keep our emotions going... brainstorming.. specially if we remember now and then that... we are here for THE MONEY - that's it (the ones that aren't will ignore/block/lie/ego-trip but will most probably lose, even if they will have forecast - true story)... It is very simple, easy... but one can get lost easily... Some people (in other threads for example) start doing all other things besides thinking how could we get the money (together) and then each can do whatever the hell he wants for it

And remember.. The moment I see another thread like this.. I do not care to join this... I care 0 f... for being thread OP or whatever... I started threads due to the NEED.. because many threads were lost (in my opinion), OP starter was LOST in ego-trip, dictatorship, followers.. and forgot what the the hall is all about... MONEY... at least what is suppose to, while trading, I believe... Once we get it.. we might CHANGE the world.. but till then.. I think we should get the MONEY first.. if not for other thing... for FU position... BTW this is where I do not necessary agree with some "no PLAN B"... I prefer "FU position and then you do not NEED plan B, you have safetynet or at least a good buffer so you do not have to focus with "what if"...) BTW this FU position can be rather low.. specially if one has LOW fix costs.. VAR can be whatever... since it should be based on var profits... FIX on "fix income or buffer"... I mean like... 100k USD can give you rather good BASIC FU position... not high-life standards.. but at least... you wouldn't need to sell the ass for basics.. for quite some time.. even if you relocate for the time.. I mean trading is rather cheap... free wi-fis everywhere... and a comp.. well you get the idea Of course ideally would be to have some GOOD FU position, with good standard included
yeah... few mios but till then... I would rather have 20+ years of FU position even with BASIC life.. than to 2-5years of HIGH-LIFE... But VAR (over that) can be TO THE TILT...

FU position (money motivation:
Inserted Video
Can you afford to take that chance?
  • #25
  • Oct 21, 2019 4:13pm Oct 21, 2019 4:13pm
Quoting RobyTurboSS
{quote} Sorry for that , i was a bit aggressive only due to his statement "We are here because we are not succesfull in this game" ,when the correct formulation was "We are here because we want to be succesfull in this game" or "I am here because i am not succesfull in this game"... i gave him a possible solution on why he is not successful ... ST made affirmations regarding an entire community ,ST should resume his affirmations only regarding own case...people join forums to exchange information, is what i think they are designed for...i used plural...
I made affirmations regarding the vast majority of a community, but i will change my statement
"We are here because we are not succesfull in this game, except for RobyTurboSS"
Sorry i forgot about you in my first statement.
If anybody else feels so offended has Roby please say something i will correct my statement again.
  • #26
  • Oct 21, 2019 4:25pm Oct 21, 2019 4:25pm
Quoting STrading
{quote} I made affirmations regarding the vast majority of a community, but i will change my statement "We are here because we are not succesfull in this game, except for RobyTurboSS" Sorry i forgot about you in my first statement. If anybody else feels so offended has Roby please say something i will correct my statement again.
LOL, I both hope you see the funny side and make up, hope your by my side in the apocalypse,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #27
  • Oct 21, 2019 4:56pm Oct 21, 2019 4:56pm
Quoting detector
{quote} LOL, I both hope you see the funny side and make up, hope your by my side in the apocalypse,D
Heh, nothing wrong with emotions, hope we can use one component out of emotion (energy in motion) which is "energy" into making money also In fact, I must clarify... (almost) nothing that I said in this thread or elsewhere.. is "a problem" IF also we do not forget why are we here (money) This is what money sounds like... but they do make (at lest trying) crazy money/profits while doing this.. In fact, one of the best traders are cocky af... but they do not forget why they are there.. they might work with worst enemy/competitor if they could both get money out of it... This is something that some gurus do not understand.. since they ignore/ban due to ego... and all might lose because of it, this is the bad thing... All the rest can be pretty much exiting, funny, "let me get my popcorn" sort of thing.... AS long as we also do not forget what is the main purpose of trading (as I believe)... - MONEY

So keep it coming, hope we will also make some money while doing it
Can you afford to take that chance?
  • #28
  • Oct 21, 2019 5:33pm Oct 21, 2019 5:33pm
We can WIN, together, like this... Think about it! ONE INCH! Powerful speech AF! We might convert it to PIP... ONE PIP! Life is a game of PIPs
Maybe we could synchronise/deepfake so it would fit exactly to trading, but you get the point In fact... can do as text... fitted/replaced it to TRADING Not much adaptation needed

"You find out that life is just a game of PIPs. So is TRADING. Because in either game life or TRADING the margin for error is so small. I mean one half PIP too late or to early you don't quite make it. One half second too slow or too fast and you don't quite catch it. The PIPS we need are everywhere around us. They are in ever break of the game every minute, every second."

Inserted Video
Can you afford to take that chance?
  • #29
  • Oct 22, 2019 4:46am Oct 22, 2019 4:46am
Quoting STrading
{quote} You came here placing yourself as an above average joe and then complained that traders are lazy, place lines on the chart... And then you say average joe is always complaining. Guess we all know now what type of joe you fit in, and it isnt the average.
ST i apologize to you , i misunderstood your initial statement...Peace.I am average just like the rest of us ...The above average move the market and this is not our case.
  • #30
  • Oct 22, 2019 6:39am Oct 22, 2019 6:39am
Yesterday I was thinking about if there is a way to actually put emotions to work in Forex. For example: If you feel devastated with the trade you made and feel like out of position or fear of getting stomped by MM out of blue with a spike. So the real question came in my mind....

Can you hedge yourself with reversal trade just to have at least small portion's of profit?

People say we can't completely take off our emotions. But what if we can look at our losing strategy and just start doing everything in reverse/hedge...?

I remember someone being doing trading against herd in r/wallstreetbets. Kept watching people's DD's and just keep doing reversal trades and been taking some huge profits .Going against not yourself but against others.(Sounds cruel but it worked for him because how much BS people put out without strong opinion on their own position while calling it out 100%, even tho nothing is 100% )
I make perfect trades. But terribly manage it
  • #31
  • Oct 22, 2019 12:13pm Oct 22, 2019 12:13pm
Quoting ForestX
Yesterday I was thinking about if there is a way to actually put emotions to work in Forex. For example: If you feel devastated with the trade you made and feel like out of position or fear of getting stomped by MM out of blue with a spike. So the real question came in my mind.... Can you hedge yourself with reversal trade just to have at least small portion's of profit? People say we can't completely take off our emotions. But what if we can look at our losing strategy and just start doing everything in reverse/hedge...? I remember someone being...
Absolutely man... better believe it... Some (negative) emotions can (also) be turned into something creative... Just see certain kids from certain families... Some get destroyed by bad experience... aka under-compensate it.. but others overcompensate it and become "success" in the views of the society... This does somewhat cure them maybe... most probably still have unresolved issues but at least they used it as a drive for something BIG, maybe

About the hedge... Absolutely man, you can hedge anything This is what I am telling to people, if they believe "they" have been tracking them, just hedge it...
But yes, since there are so many losing traders (Statistically), it seems obvious one would have better chance of being profitable by hedging some random trader
You also have some gurus.. that if you track them and do the opposite, you might be driving new benz by the end of the year
Can you afford to take that chance?
  • #32
  • Oct 22, 2019 12:20pm Oct 22, 2019 12:20pm
Quoting RobyTurboSS
{quote} ST i apologize to you , i misunderstood your initial statement...Peace.I am average just like the rest of us ...The above average move the market and this is not our case.
Inserted Video



Let's make the money together... We can insult, cock-meassure, compete, whatever, along the way In fact, that would seem encouraging.. I would be worried when people become too good of a friends (in trading), to nice, KIND... You see where KIND traders end... "kindness" might be associated with losing.. in trading world... Only one thing count in this racket, MONEY...

Also about the black swans... The idea is to PULL-OUT before the SWAN... All experience traders know this... have the number at which they would QUIT.. The one that doesn't.. will pay HOUSE WINS lesson the hard way

The issue is when people put EGO before MONEY/PROFIT.. as you can see at some... you know where But AS LONG as MONEY/PROFIT is main objective.. meaning you are open to anyone that can increase your chances... You are on a good track or at least POTENTIAL TRACK... The ones that ignore/ban, are offended.. specially with some crazy mofos with WTF trading signals/history... are CERTAINLY gonna FAIL... if they didn't already.. and just keep on switching/ditching accounts... and give DOUBLE-meaning signals.. because it is almost ONLY UP or DOWN.. no bullshit But people give 10 double-meaning paramters in some "signal" and they say... "well yea, told you"

RobyTurboSS, just used your post to tell this, not realy intended to quote you, specially not in a bad way but for MOTIVATION, if anything
Can you afford to take that chance?
  • #33
  • Oct 22, 2019 12:30pm Oct 22, 2019 12:30pm
Quoting auricforecas
The Departed (2006) Can't get enough.. it's not about the NEED (only)... cracks me up "I haven't needed the money since I took Archie's milk money in the 3rd grade, tell you the truth, I don't need the pussy anymore either. But I like it." (Jack Nicholson as Frank Costello)
Forgot that scene. . Always can take a little more.....money!
If in doubt, paddle out!
  • #34
  • Oct 22, 2019 12:34pm Oct 22, 2019 12:34pm
Quoting SurfsUp
{quote} Forgot that scene. . Always can take a little more.....money!
Maybe you didn't actually forgot it, but you SAW it now.. since you are more attuned, wiser

"The movie never changes but everytime you see it, it is different, because you are different, you see different things"... CLICK
Can you afford to take that chance?
  • #35
  • Edited 3:03pm Oct 22, 2019 12:38pm | Edited 3:03pm
BTW this guy has some good points...

  1. Life is a journey? CHECK his answer
  2. Don't think money can buy happiness? CHECK his answer

"If you don't think money can buy happiness, you don't know where to shop!"

BTW this thread, at least my part in it.. is not to MOTIVATE you like your MOM... but to DE-MOTIVATE you positively Put fire under your ass, so you wake-up, maybe

Seems people love being humiliated (by some players.. it motives them ) That might be a good thing...

What I see as BAD, at least for trading.. is when people are following losing guru, are blinded to his failing predictions and trades.. although it is dead obvious... Or to his double-meaning or DUAL (buy/sell - "win win") predictions, if lucky... AND (if) they forget what they came for... MONEY... If they would leave all the same but keep the money as still being the main objective, they might realise what brings them money and what doesn't... at least much sooner, not after 10-20years of life wasted... I think that the ones that do forget might just be looking for daddy/leader and forgot why they (supposedly) came for... So in the end they just ego-trip, ass kiss the leader (join his fight against others that might not agree to everything!).. and they are all piss-poor at the end of the day... At least the followers..

Can you afford to take that chance?
  • #36
  • Edited 3:01pm Oct 22, 2019 2:13pm | Edited 3:01pm
ppl, and also.. KNOW YOURSELF! If you have a problem you might have 2 options.. spent 15years of your life "FIXING" yourself.. or COMPENSATE/OUTSOURCE IT...
for example... Some here, I believe are EXCELENT MONEY MANAGERS (or good analysts-traders).. When you give them BUCKS.. you know they will KEEP IT, store it, manage it... but they are so RISK AVERSE that if they would make 10EUR bet, they would LITERALLY shit themselves or faint.. And that is a good thing!

Also there you have RISK TAKERS, NUTCASES.. that are ALWAYS in DEBT.. no matter how much they earn...

And that is good, we need MONEYMAKERS and PLUMBERS... In most cases, they admire eachother.. because RAINMAKERs ussualy do not know how to or do not bother with PIPES... And PLUMBERS have no clue how to make it rain, but sure does know how to make WATER pipes (manage water)... Together they are AWESOME... And if we add TRADING/market.. It is THE DESERT! PLUMBER might DIE... his plumbing skills wold be worthless... And rainmaker might die too because it is hard to DRINK from RAIN directly... unless one would be very hardcore rainmaker but at that point... wouldn't need water anymore anyway So you got the idea... MONEY/RAINMAKER, MONEY/WATER MANAGER (plumber)... and the DESERT (markets)...

So.. what I would suggest.. IF you are GOOD at price prediction but can't execute yourself.. due to whatever reasons... BE ANALYST... SHOW/SELL your signals to someone or HIRE/COOPERATE with someone that would MANAGE the actual trades for you, by yours instructions (Before the trades) and you could instruct him not to listen to you while the trade is in motion... You got the idea...

IF you are a CRAZY trader.. that makes a lot but THROW it back to the market (losing) or just SPEND (what's in your pocket - even if millions)... get yourself some money manager, make BANK arrangement to LOCK you out of some profit, to preserve it.. or what might work very good too... GET yourself "UGLY" loyal wife that will take care of business but will still be feminine enough for you not to become... Ok you got the idea.. BTW some of the wealthiest people... said that the sweet spot for a wife/keeper is a 7/10 that thinks she's a 6/10. Sweet spot

Yeah, I believe, some of us are NUTS for BLONDE bimbos... but... if you are of RISKY personality.. this can destroy you Old recipe... 3 leading things that can destroy any man... booze, women, gambling... Specially combined.. So some get themselves "a keeper" that takes care of home, preserve at least some of the money...

There are some options, much less so (since recession 10+ years ago)... in the bank.. with immediate annuities (with inflation protection)... They still offer it, but removed some options, specially inflation adjusting part So you get the idea... Either find SOMEONE or SOMETHING to PRESERVE at least some of the money.. UNLESS you are a WIZARD that can make it rain anytime, anywhere... they of course, you could drop all the rules... like a BILLIONAIREs If you don't know or can't execute (due to emotions), find someone that can...

BTW, if you wondered why some super successful, famous people have hideous wives... They have a good value... Also I am sure you know a lot of successful men that wen't to shit due to some bad women choices Yeah, they say the sweet spot is, if you can pull it off (risky af, but holy grail, some say to have stable frugal ("uglier") wife at home... for stability/love (if you are not the stable one.. buy have beauty (bimbo) for passion/excitement, on the side that loves to spend the money - credit cards but she doesn't give you shit or ask questions Best of all worlds hehe, some believe...

Ok, here is some good MONEY advice about CREDIT CARDS + (some?) WOMEN
Inserted Video


And why do we (might) need money? Besides the FU position? TEST IN LIFE....
Can you afford to take that chance?
  • #37
  • Oct 22, 2019 3:11pm Oct 22, 2019 3:11pm
Quoting auricforecas
ppl, and also.. KNOW YOURSELF! If you have a problem you might have 2 options.. spent 15years of your life "FIXING" yourself.. or COMPENSATE/OUTSOURCE IT... for example... Some here, I believe are EXCELENT MONEY MANAGERS (or good analysts-traders).. When you give them BUCKS.. you know they will KEEP IT, store it, manage it... but they are so RISK AVERSE that if they would make 10EUR bet, they would LITERALLY shit themselves or faint.. And that is a good thing! Also there you have RISK TAKERS, NUTCASES.. that are ALWAYS in DEBT.. no matter how much...
That's why hedge funds have portfolio managers, psychologist (Those who support trader's mental health), traders and etc combined as a team to trade in the markets. They survive because they have all the components that stands in a role. Retail trader as a whole has to take all roles. Take care of yourself , your Risk management, Money management , P/L, position management . It's a cluster of f*ck for one person to watch everything to be in place. You can be disciplined but sometimes you get exhausted and u need to take breaks for weeks,months to at least get your shit right off the bat to make good trades instead of bad ones.
I make perfect trades. But terribly manage it
  • #38
  • Oct 22, 2019 3:17pm Oct 22, 2019 3:17pm
Quoting ForestX
{quote} That's why hedge funds have portfolio managers, psychologist (Those who support trader's mental health), traders and etc combined as a team to trade in the markets. They survive because they have all the components that stands in a role. Retail trader as a whole has to take all roles. Take care of yourself , your Risk management, Money management , P/L, position management . It's a cluster of f*ck for one person to watch everything to be in place. You can be disciplined but sometimes you get exhausted and u need to take breaks for weeks,months...
Exactly man.. The trading is so hard that one can get almost ALL the parameters/components right BUT misses the ONE component and have NEGATIVE at the end...
Not so few have "unworthy" feeling/complex so they somehow sabotage the trading (eventually) knowingly or unknowingly... A lot of factors, to be profitable, specially long(er)term... Some HEDGE FUNDS exploit this very nicely... Put a nice setup of people together into epic group.. BTW.. some people with (partial)autism might have a very good value but they wouldn't be able to execute one trade.. or at least not be profitable.. but if put in the right group, assign the right role... something miraculous can happen

That is why I am looking for cooperation because I do know what MAYBE my strengths are and what are the weaknesses or at least that I under-harvest much of signals/profits... That is why I also posted so many signals, charts... hoping someone can pull it better, I am sure there are more optimal ways to make profits out of my "predictions"...

BTW, some (de)motivation This is a vaccine before entering the market(s), everytime If one can not take this, he might be better be in the "back office"
It also seem to motivate some people Like "man-up" speech... Most liked comment (under the clip) is exactly that "Best motivational speech ever".
Inserted Video
Can you afford to take that chance?
  • #39
  • Oct 22, 2019 5:24pm Oct 22, 2019 5:24pm
Quoting auricforecas
FU position (money motivation: https://www.youtube.com/watch?v=xdfeXqHFmPI
That's a great video. I watched it for the first time yesterday and I've been thinking about it ever since. The "FU position" is what we're all aiming for.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #40
  • Edited 5:55pm Oct 22, 2019 5:44pm | Edited 5:55pm
Quoting Ef5
{quote} That's a great video. I watched it for the first time yesterday and I've been thinking about it ever since. The "FU position" is what we're all aiming for.
Tnx, yeah I much prefer it to "no plan B" that even Arnold promotes... But he did had a construction business and went to school WHILE doing bodybuilding, so not so sure he was totally "no plan B" guy I prefer best of both worlds (for now), maybe I am missing something because of that, can't say... Also found a clip when he said (before he made it) that he wants to be GOOD actor, not BEST. I like what he is saying, just saying that I tend to be careful with EVERY advice Specially now that we know how he vented that success/pressure.. maid etc So I prefer having FU position and then go ALL-IN in whatever you want to do.. not worrying about monthly/yearly expenses... Also I believe the key is to have FIX costs as low as possible... and do the VAR for other... Or flexible FIX.. meaning that you can downgrade rather fast... to reduce FIX, if income drops.. so that you at least preserve FU position... for example assets/(monthly fix+var costs)=number of FU months Many people, even businesses, maybe much less in US than in EU... increase FIX costs.. because it might be cheaper (but not necessarily) to take a LOAN for something then to RENT.. it might very be so... but if you count flexibility in... Ok I won't go much into it.. but many businesses in the last crisis... went down exactly because of that... too high FIX... (much due to debt also)... For example... in real estate... prices didn't drop to ZERO... so if one owned something to rent.. worst case... rents drop... but if they had the (speculative) loan on the other side... for MANY real estates... it went to shit rather fast... Ok you get the idea PS those can be very "religious" debates... because, specially in EU, specially self-thouht entrepreneurs... tend to BUY and HIRE everything/everyone for every additional % of business... but IF that drops.. specially in crisis... NEG starts to BUILD quick and then bust.. In flex biz (structure) it is much easier to reduce sizes/exposure and might survive, adapt Don't want to go into this further atm.. just stated my view

Anyway, I strongly believe in the FU position... either that you have ENOUGH money for some YEARS.. best would be 20+ and while building that... it would certainly help to reduce FIX costs or at least have "flood" compartments (like TITANIC) that are designed to prevent the "flood" spread Titanic was designed to be able to float with 4/16 flooded... Anyway, the analogy I find in the house... One can have apartment, small house.. some assets and then some FU position... as oppose to getting huge mortgage for huge house... that is designed in a way that is impossible to partly rent in case of the "flood"... I much prefer either multi-apartment house, that can be designed like this in a stealthy way... but in case you get some issues, you can rent/flood some apartments/compartments.. and preserve the FU position...

That was just one example.. Similar with cars, transportation, utility... whatever...

Well yeah, I believe the IDEAL would be to have no plan B, believe in whatever, "universe will provide" and that you don't need to store anything because you drink from the river, rain directly.. but at least I am not there yet.... so till then... I prefer in this COMBO... FU position and then "no plan B".. since you don't need it, at least for quite some time.... specially if you cancel ego in the equation and have no problem lowering the standard in order to preserve the FU... BTW know also some good cases/examples from the 70s when they compared 2 people in the raising TECHNOLOGY AREA... when computers etc.. were like almost nowhere and taking a job/career in that industry was not considered good/safe etc.. and there were two guys.. one was having 0 net worth and couldn't risk with some possible rising industry... the other had some good savings... and could take a chance... and the rest is history.... Also you have much better negotiation position and "radiate" different "energy" if you have like FU position or "like I give a fuck" position... "take it or leave it".. I mean it's very hard to say "take it or leave it"... to 5k USD for example... when you have like 0 net worth and 5k USD monthly expenses Much easier with some good savings (FU) and then say.. "You don't like it, get someone (monkey) else for peanuts money"

And this FU position, low FIX costs... and then VAR that can adapt quickly.. is SPECIALLY important in TRADING because we never know what the next day (profits) will be or if there will be any profits, next month, year, ever It is much different for other industries, medicine (MDs) for example... where you can afford to take a loan, because you know you will most probably almost climb up forever... raising salary... almost regardless of the economy etc... But in trading... we do not know
if we will be BILLIONAIRES or BUMPS in a few years At least in REAL trading... aka predicting future basically.. not IB style "trading" where they just do routine shit more or less filling order, liquidity, charge fees etc..

Ok that would be from my side on the topic.. If anyone disagrees, GREAT! If I could be of help, GREAT! Up to anyone...
Can you afford to take that chance?
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