Why do I (you) trade? - Why should you trade?
I was thinking about this recently because I am rereading the newest Market Wizards book "Unknown Market Wizards," by Jack Schwager and there is usually a question about why they got into trading and Several of the interviewees early in the book noted that they were in it for the money. Jack said that was different that what he had usually encountered with his other interviews where they said they were in it to beat the game etc. Then today I was scrolling through YouTube and decided to click on a video that I usually don't that was about "If you're thinking about quitting trading watch this" or something like that. I double speeded it and I liked what the kid had to say. Maybe it picked me up just enough from being in this fairly small draw down. I haven't really thought about quitting trading completely, because it is something that I really love and I see how it continues to make me a better person, but I have thought about going back to getting another job and trading on the side again. That's besides the point though. What I liked about what the guy said (I won't call him kid again, even though he might be half my age) was to think about what got you into trading in the first place. Why are you trading? I like this question and the way it was posed so I thought about it and will continue thinking about it. Why do I trade? It may have morphed a bit since I started. When I first got into the market, it just seemed too good to pass up (Covid Crash). I didn't have work, just out of the Master's program and Covid hit. I'd always been interested in the markets and I found a small niche and a few stocks that I thought could go. Really I did more swing trading, not that I thought about it that way yet. Success! But I was doing it for the money. I literally didn't have anything to my name but a few thousand dollars since, we (my family and I) had to flee out burning town (Paradise, CA) in late 2018 and I had just been finishing my master's thesis. I knew what kind of money could be made in the markets, but I had never considered it as a career choice. Anyway. At first I did it for the money, for a home, for financial freedom, for time with my family and I still do it for those things, since I still don't have my own home. I think like many traders, I didn't grow up with a lot of money, we were always probably lower middle class and as a kid, I could feel the tightness, though I know my parents did a great job as budgeting and making sure that my brother and I had good opportunities. But I wanted more for myself and I still do. I don't feel like there are many jobs that will pay me for my time what I am worth. I think most people or underpaid and I don't want to be one of them. Now I still trade for the first reasons above, but I also do it even more for myself and my self development. Don't get me wrong, I'm in it for the money, but I've realized that trading forces you to become a better person, and I've always been about growth and progress and learning. Well trading is quite the platform for self development and I love it! I find that when I am organized, relaxed, and patient, I am at my best. Anyway, I think I'll have to find that video, maybe link it in some post, probably not this one. I'm done for the day. Have good day or night wherever you are! Cheers!
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