[rxs0005]

Why Wall street will humble you into being a better person


Brings the worst out of you

If you are a warrior you will get up pick up the pieces and move on with wisdom

You can apply these lessons in real life whether its relationships work issues physical emtional etc you will know when to cut your losses and move on

it brings you close to your EGO daily and you need to defeat it in order to trade well and in the result be a better person

on the whole what has happend to me is i have eliminated stress( thanks to sell stops) and i feel more focused discplined in all facets of life


can you please share how trading on wall street has affected you other than the monetary aspect

thanks

[chaotic1]

Originally Posted by rxs0005 »

can you please share how trading on wall street has affected you other than the monetary aspect

It has taught me that I don't know as much as I would like to think. What I am learning is that I know even less.

What I like most about the markets is that it rewards us based on our skill, talent, and willingness to work hard. We can make mistakes and yet comeback from them to become a better trader. My current job rewards failure with a kick out the door. Hopefully one day I will join the ranks of successful daytraders.

The other aspect of the markets I like is the people. They are the most positive folks in the world. I know one trader where his whole world can be falling apart and he is like a rock. Concerned, but not freaking out and just dealing with whatever situation as it comes to him.

[SIUYA]

what markets (rather than just wall street) has taught me.
- you can be wrong more often than you are right and still make money.
- its a combination of work and luck..... one by them selves will not help over the long run.
- there is more than one way to skin a cat
- if you put 1000 people in a room and give them a set of rules of how to be a sucess in the markets, some will make it, most will fail, some will break the rules and still make it and ruin it for the rest of us.
- you will meet the best and worst people on a trading floor.
- brokers have the right idea, take a clip without the risk. (but where is the fun in that)

[bathrobe]

For my personal trading it has taught me to control my ego.

When I look at Wall Street firms it has taught me that failure and incompetence is rewarded heavily. John Thain, Stan O'Neill, Vikram Pandit, Chuck Prince, Jimmy Cayne, Dick Fuld. These guys are all worth hundreds of millions, two brought down huge institutions.

[SpearPointTrader]

I have learned that anyone can succeed, with the right education, and a properly funded account.

[Obsidian]

-I learned that prices are just numbers
-I learned money/risk management is crucial
-Ah and...never trade stocks!