Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TradeRunner

If You Didn't Need the Money Would You Still Trade?

Would you still trade if you didn't need the money?  

74 members have voted

  1. 1. Would you still trade if you didn't need the money?

    • Yes
      54
    • No
      20


Recommended Posts

You have enough money to last you a life time and fund the life style that you require with enough to spare to pass on to you loved ones etc. So you just don't need to trade to make money.

 

Would you still trade?

 

It would be a no for me.

Share this post


Link to post
Share on other sites

Trading to me is never boring. It is a constant challenge and so it is addictive. I find that there is always something new and markets are adapting. The difference if(or when) I had billions, is I would chose to trade differently and to pursue the things I enjoy outside of trading without thinking twice.

Share this post


Link to post
Share on other sites

Yes - but the trading/investing style would change.

 

I would only be a part time screen jockey and focus would be more on capital preservation than growth.

 

I truly love the markets and my mind will always want to know what its doing

Share this post


Link to post
Share on other sites

Assuming the money you have made is from trading, I can think of nothing more satisfying than continuing to trade for charities and worthwhile causes. It would seem very selfish to me to stop trading simply because 'you' have made enough money!

Share this post


Link to post
Share on other sites

Absolutely! Having done few business: it is by far my fav thing to do. When I travel or on vacay: I Miss Trading and will always trade, no matter how much money I have.

Share this post


Link to post
Share on other sites

Yes, I would still trade. You only need to trade a few hours a day to make money, so it's not a huge commitment. I could travel and trade at the same time. I will find a way to use the money, even if it's way over what I need.

Share this post


Link to post
Share on other sites

This is a great question because it locates your passion for trading -- the love of the game. This is the essential intrinsic motivation for a trader to re-organize his or her psychological self to become the trader he needs to be rather than who he or she currently is.

 

Rande Howell

Share this post


Link to post
Share on other sites

I wouldn't quit trading entirely but I would make time for many other interests such as travelling, visiting historical battlefields (I am interested in WW2 and the US Civil War), reading about military history (the two wars I mentioned), taking courses to stimulate the mind, and so forth. I would trade whenever I had more than a few days of free time to keep from getting totally bored.

Share this post


Link to post
Share on other sites
This is a great question because it locates your passion for trading -- the love of the game. This is the essential intrinsic motivation for a trader to re-organize his or her psychological self to become the trader he needs to be rather than who he or she currently is.

 

Rande Howell

 

Quite so, however once someone has become the 'trader they need to be' I can't help thinking quite a few would answer differently regardless of whether they decided to continue or not. I wonder if some of the expectations will not be realised through trading and that they might actually be inhibiting what 'traders need to be'.

Share this post


Link to post
Share on other sites
Quite so, however once someone has become the 'trader they need to be' I can't help thinking quite a few would answer differently regardless of whether they decided to continue or not. I wonder if some of the expectations will not be realised through trading and that they might actually be inhibiting what 'traders need to be'.

 

People are always in the act of becoming. What we are in one moment in time is simply the door to the next stage of a personal journey. My hope is that passion would find even greater expression as that person evolved. Trading is a powerful way of discerning between a need to prove the self by an external vechile and discovering what drives the self internally. Many people find a deeper spiritualilty as they evolve as trader. As they become able to solve the mystery of themselves, they become open to becoming steward to serve a purpose greater than the self.

 

Rande Howell

Share this post


Link to post
Share on other sites

Great question,i think that exist many kinds of trader who made this for hobby(but i think that exist hobby more relaxing and funny of this ...depend to the path or journey that you wan't made in your life) but when is awareness,by the risk and had a good knowledge of the market ,can made this maybe also a funny work....what that i ever ask to myself is ...how and with more less fear i will trade if the money wouldn't be mine?surelly the fear to loss personal money is bigger than the fear to lose the others money.i think also that great trader like Jesse Livermore don't stopped to trade when he become rich maybe because he take this more like a gambling.or maybe the psychological factor are less important by now?or simple now would become more a psychological warfare.yes i think so.Maybe if one day i stop to squeeze my brain,and find a way that make me so many money to leave all and will permitted to go on a beach to meditate God all the day,yes i can stop.to trade.But if the love for it is so bigger ,maybe i wouldn't stop ,ever if some personal problem don't put me in a condition to stop me .i don't really know is a big thinking ,because is the classic question that have more facets.because once a time someone start the trading journey it's important to considerer also the psychological and spiritual side of this ,if you think only to make money like a machine and don't think never that for become a profitable trader,is important the interior and spiritual side .you don't love neither you.Another factor for me very important for being profitable in trading is the humbleness and a good quantity of luck.

Share this post


Link to post
Share on other sites
People are always in the act of becoming. What we are in one moment in time is simply the door to the next stage of a personal journey. My hope is that passion would find even greater expression as that person evolved. Trading is a powerful way of discerning between a need to prove the self by an external vechile and discovering what drives the self internally. Many people find a deeper spiritualilty as they evolve as trader. As they become able to solve the mystery of themselves, they become open to becoming steward to serve a purpose greater than the self.

 

Rande Howell

 

Hi Rande, trading is an amazing vehicle (imho). I think most who pursue it will discover all sorts of things about themselves regardless of where the journey takes them. The section I I highlighted above is something that was an impediment for me for a time. Another thing that was mentioned earlier in the thread was 'mental challenge' again looking for intellectual satisfaction for me was a possibly my biggest 'hurdle'.

 

I wonder if you ever read Eddie Toppels book Zen in the markets? His whole thesis is that wanting to satisfy the ego is responsible for most peoples issues with trading. Interesting read.

 

Another thing that was mentioned earlier was seeking excitement. Whilst It was not ever an issue personally seeking 'excitement' from trading would be something I would be cautious about. I think Might Mouse was near the mark ...if it is not rather dull and monotonous you probably aren't doing it right :) (the actual trading bit of the equation that is)

 

Sadly a bit pushed for time I'd like to respond a bit more fully., To put it shortly facing what I see as challenges can be rewarding in it's own right.

Share this post


Link to post
Share on other sites
No - I would be writing novels and spending more time with family and friends.

 

Absolutely! I can't believe that most people would still trade. Live is so short and choosing to spend it in front of a screen on such an abstract pursuit seems like a bit of a waste. Personally, if you are in this position then I think you would be happier giving it away.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.