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Trading Psych Metaphorics

  • #1
  • First Post: Aug 31, 2012 2:45am Aug 31, 2012 2:45am
Trading for a living with no back up income source, and Trading with a back up income source.
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  • #2
  • Aug 31, 2012 3:58am Aug 31, 2012 3:58am
Hey ... these are very true ... but where's the third scenario?
People who trade the money they can afford to lose. If I'm not making money in the market, well, not pleasant but no big deal.

For us, it's like being a spektator in the Colosseum, while the Gladiators fight for their lives in the arena.

We just sit and watch. The entertainment is ours, the fight is yours. Some of the fighters will make it, whether it's talent or luck, or both, does not matter. Their names will be remembered, but most ... will be forgotten, their dead bodies pulled out of the arena because the new ones are coming.
forget about tomorrow, just steal away into the night
  • #3
  • Aug 31, 2012 4:13am Aug 31, 2012 4:13am
Quoting spekitox
Hey ... these are very true ... but where's the third scenario?
People who trade the money they can afford to lose. If I'm not making money in the market, well, not pleasant but no big deal.

For us, it's like being a spektator in the Colosseum, while the Gladiators fight for their lives in the arena.

We just sit and watch. The entertainment is ours, the fight is yours. Some of the fighters will make it, whether it's talent or luck, or both, does not matter. Their names will be remembered, but most ... will be forgotten, their dead bodies...
What exactly do you mean by us?

The third scenario you are talking about is the second scenario I was talking about ; )

Diversify bitches

Another one I like to call momentum trading
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  • #4
  • Aug 31, 2012 4:53am Aug 31, 2012 4:53am
Quoting CindyXXXX
What exactly do you mean by us? The third scenario you are talking about is the second scenario I was talking about ; )
Nope, in your scenarios market income is the main income, with or without backup income. In mine, one is pretty fine off income not depending on the market, and trading profits (if any), are cherry on the cake. That's not trading for a living, and that's why it's a separate scenario, but it's still under the umbrella of your chosen topic title - unless you meant "Trading for a living Psych metaphorics".

I guess that explains "us" as well.
forget about tomorrow, just steal away into the night
  • #5
  • Aug 31, 2012 5:11am Aug 31, 2012 5:11am
Indeed, indeed. Must be the full moon, and the friday, or it's just me.
I wish I had anything to share, but since that's not the case, I guess I'm better outta here, we're not on the same bus here and today.
Have a nice day.
Quoting CindyXXXX
Ok Gotcha... If you read carefully my second scenario does not mention trading for a living.One would assume that if you were trading without any other income source then you are trading for a living... Hence the distinction in the first scenario lmao... Are you gonna be like this for the whole thread? Post some pics man, share some wisdom.
forget about tomorrow, just steal away into the night
  • #6
  • Aug 31, 2012 5:32am Aug 31, 2012 5:32am
Is this one of those intelligent threads? Where something simple turns into a huge discussion? Let me try and keep it simple then because I like simple.


Overleveraged

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Comfortably leveraged

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Nothing worth having is easy.
  • #7
  • Aug 31, 2012 5:36am Aug 31, 2012 5:36am
Quoting CindyXXXX
Trading for a living with no back up income source, and Trading with a back up income source.
Is trading for a living as your sole source of income any more risky than quitting your 9-5 to run a home business?

Small businesses go bump all the time and the owners either pick themselves up and get back on the bike or they re-enter the employed marketplace.

With trading though, if you have the ability to read the market with any degree of consistent accuracy and your risk per "business transaction" is low it can be strongly argued that your chances of running that business without annihilation are greater than many conventional businesses.

A lot obviously depends on your average returns vs your cost base.

Having a supportive partner who will cover the household costs on a bad month is the best of all world IMO
  • #8
  • Sep 9, 2013 6:15am Sep 9, 2013 6:15am
I bet you did not think of this one:

trading to create income - make a trade with a stop and every fixed time interval (week, day, hour 10 min, etc) move up stop for couple of pips. You just created income stream for yourself.

Your job s to create new ones as some will drop off quick, others will last longer, and some stick for years.
  • #9
  • Sep 9, 2013 6:24am Sep 9, 2013 6:24am
Quoting Trotty
{quote} Is trading for a living as your sole source of income any more risky than quitting your 9-5 to run a home business? Small businesses go bump all the time and the owners either pick themselves up and get back on the bike or they re-enter the employed marketplace. With trading though, if you have the ability to read the market with any degree of consistent accuracy and your risk per "business transaction" is low it can be strongly argued that your chances of running that business without annihilation are greater than many conventional businesses....
+1

What I love about trading is that there are no clients, customers, you don't have to create anything, compete for market space and do crap like keep up with Search engine algorithm updates and worry about people ripping off your ideas/website etc.

If you have consistent gains with manageable risk and a good war chest to see you through bad months (that you replenish during good months) trading can be a beautiful business.
Anything can happen.
  • #10
  • Last Post: Sep 9, 2013 7:18am Sep 9, 2013 7:18am
Quoting Trotty
{quote} Is trading for a living as your sole source of income any more risky than quitting your 9-5 to run a home business? Small businesses go bump all the time and the owners either pick themselves up and get back on the bike or they re-enter the employed marketplace. With trading though, if you have the ability to read the market with any degree of consistent accuracy and your risk per "business transaction" is low it can be strongly argued that your chances of running that business without annihilation are greater than many conventional businesses....
In my country, cost of living around $10 daily. But most wages under $100 monthly. Open a business require a minimum of $100.000, with average return between 2% - 15% profit monthly (unless you are government officials, which can abuse power and get rich through corruption). So for average person like me, i have to work till the day i die, or i can save around $1000 / year as capital for my own business. I do not see a lot of option here, save for trading, if i want better education for my future children, or supporting my parents. If i can not develop a steady, profitable system. I can imagine, when my parents grow old, or got sick, i can end up killing them, to save them out of misery, or to avoid taking debts. Starting a business is zero possibility, unless you have government officials relatives, or big tycoon. Oh, i pay taxes, but have no benefit in it, there are no unemployment claim, or medical benefit, so if i got hospitalized, better for me to commit suicide, or will burden my family with debts. Hospital VERY expensive.
Bottom line? Trading for a living is not only sole source of income, but the only way out for us, to go pass that poverty line.
Don't blame the tools. Blame the carpenter.
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