Comments on: My Own Hard Look at Trading for a Living, Part I http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/ Futures Trading, Custom Programming, and Commentary Fri, 05 Mar 2010 06:12:03 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Can You Make It As a Trader? -- Move the Markets http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-2045 Can You Make It As a Trader? -- Move the Markets Tue, 06 Feb 2007 02:39:43 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-2045 [...] I never would have written this post if it weren’t for a couple great posts by Phileo about his hard look at daytrading part I and part II [...] [...] I never would have written this post if it weren’t for a couple great posts by Phileo about his hard look at daytrading part I and part II [...]

]]> By: Phil’s Stock World » Weekend Ramblings http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-2028 Phil’s Stock World » Weekend Ramblings Mon, 05 Feb 2007 13:50:13 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-2028 [...] Also from Trader Mike (who reads more than I do!) is a great find of Phileo (no relation) who wrote and exceptional article about trading for a living that I know will be near and dear to some of our members’ hearts.  He wrote a part 1 and part 2 and, at the end he commented: "Writing this article has been exhausting mentally, because I’ve had to think quite long and hard about what I’m getting myself into."  You can certainly see why!  I hope everyone puts this much thought into what they do for a living be it trading stocks or stocking shelves, we all should be on the road to fulfilling our dreams… [...] [...] Also from Trader Mike (who reads more than I do!) is a great find of Phileo (no relation) who wrote and exceptional article about trading for a living that I know will be near and dear to some of our members’ hearts.  He wrote a part 1 and part 2 and, at the end he commented: "Writing this article has been exhausting mentally, because I’ve had to think quite long and hard about what I’m getting myself into."  You can certainly see why!  I hope everyone puts this much thought into what they do for a living be it trading stocks or stocking shelves, we all should be on the road to fulfilling our dreams… [...]

]]> By: Phileo http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-1980 Phileo Fri, 02 Feb 2007 05:46:43 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-1980 @Tyro: Being able to work from home is a great feeling, plus very practical as I am able to help out with caring for my new son. I think Part II of my article should address most of your other questions. @Eyal: I never did value job security, so I don't think it would change my overall score too much even if I lowered it down from 90 to say, 60. @JohnF: thanks. This one has been brewing in my head for a while. @Tyro: Being able to work from home is a great feeling, plus very practical as I am able to help out with caring for my new son. I think Part II of my article should address most of your other questions.

@Eyal: I never did value job security, so I don’t think it would change my overall score too much even if I lowered it down from 90 to say, 60.

@JohnF: thanks. This one has been brewing in my head for a while.

]]> By: John Forman http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-1976 John Forman Fri, 02 Feb 2007 03:17:19 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-1976 I can honestly say I've never seen anyone take such an objective look at trading for a living. Very interesting approach. Tyro, I can relate. Two things might help you. One is trading system research which will allow you to explore your quantitative side. The other thing is to break your trading down in to trades and focusing on making each trade a good one. I don't mean a winning one. That you can't control. I developing a good plan for each trade and sticking to it. That will make each trade a little project. I've found it helpful myself. I can honestly say I’ve never seen anyone take such an objective look at trading for a living. Very interesting approach.

Tyro, I can relate. Two things might help you. One is trading system research which will allow you to explore your quantitative side. The other thing is to break your trading down in to trades and focusing on making each trade a good one. I don’t mean a winning one. That you can’t control. I developing a good plan for each trade and sticking to it. That will make each trade a little project. I’ve found it helpful myself.

]]> By: Eyal http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-1975 Eyal Fri, 02 Feb 2007 03:13:48 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-1975 Nice post Phileo. I just did the exercise. I couldn't give security in trading more than 50 though. Despite being able to make money I constantly have a nagging worry that it was either a fluke or that the markets are going to change on me and cause a prolonged drawdown. Nevertheless trading reached a score of 82 vs. my day job scoring 49. My only surprise with this is that my day job actually scored more than, say 20 lol. Nice post Phileo. I just did the exercise. I couldn’t give security in trading more than 50 though. Despite being able to make money I constantly have a nagging worry that it was either a fluke or that the markets are going to change on me and cause a prolonged drawdown.

Nevertheless trading reached a score of 82 vs. my day job scoring 49. My only surprise with this is that my day job actually scored more than, say 20 lol.

]]> By: Tyro http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/comment-page-1/#comment-1973 Tyro Fri, 02 Feb 2007 02:32:52 +0000 http://www.movethemarkets.com/blog/2007/02/01/my-own-hard-look-at-trading-for-a-living-part-i/#comment-1973 Compensation is my big stumbling block right now, too. I've also found that the challenges in trading are much larger and more unified than in other disciplines. As a coder, I could break a problem down into many small pieces and feel a sense of accomplishment every few hours or days but I haven't found a means of achieving this with trading. Yet. Ultimately, I think that this problem, like others, will prove to be much less significant once I'm able to prove that I can earn money. While there is no upper limit to compensation, trading seemingly has no lower limit either. (Hopefully that's just the negativity talking.) How does the arrival of a new child influence your rankings? Do you feel a bigger pressure to bring in the money? Is the independence and ability to work at home more important, or is this more difficult? Compensation is my big stumbling block right now, too. I’ve also found that the challenges in trading are much larger and more unified than in other disciplines. As a coder, I could break a problem down into many small pieces and feel a sense of accomplishment every few hours or days but I haven’t found a means of achieving this with trading. Yet.

Ultimately, I think that this problem, like others, will prove to be much less significant once I’m able to prove that I can earn money. While there is no upper limit to compensation, trading seemingly has no lower limit either. (Hopefully that’s just the negativity talking.)

How does the arrival of a new child influence your rankings? Do you feel a bigger pressure to bring in the money? Is the independence and ability to work at home more important, or is this more difficult?

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