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Yuki,
Your background is certainly unique, but FAR from boring. Thank you
for sharing it with us. Unfortunately, I addressed the question
wrongly, preventing some of the other folks from responding...
I'll see if I can convince my wife to let me drop my day-job and
trade me full-time. Just kidding... :-)
Jitu
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi jtelang,
>
> Tuesday, October 28, 2003, 9:11:12 AM, you wrote:
>
> j> Yuki (and other guru's),
>
> Not this girl. No guru here at all. Just somebody who has survived
> long enough to become experienced.
>
> j> I'm sure some of you folks initially had a different primary
career
> j> and then transformed yourselves into successful pro traders.
It'd be
> j> very interesting to hear from you about the experiences. For
example -
> j> what were the hurdles? How long were you trading on the side
before
> j> going fulltime? What was it that finally convinced you to go
> j> fulltime? etc. etc...
>
> j> If you guys find it interesting and willing to comment, I think
many
> j> would be interested to hear about it.
>
> My story is kind of boring, actually. I had a great advantage: an
> employed spouse who brought in the daily bread. All I had to do was
> take care of the savings fund, and it turned out I was not so bad at
> it, and seemed to (well, definitely did, actually) get better over
> time. So I come from a situation that a lot of guys might not be
able
> to relate to, unless your wives can and will support you while you
> trade. The payback for my husband was early retirement, however, so
> maybe you can pitch your wives on that. ^_-
>
> I truly believe that just about anyone can do this, however. But
> like many things, it takes lots of practice and lots of patience.
> There are few things that people do in life that they don't get
> better at, the more they do them. The trick here is to stay alive
> (have equity) long enough to get the experience. So, concentrate on
> defense first, and don't try to force things. This will become a
> habit, hopefully, and you will learn over time when to take on some
> additional risk.
>
> IMHO, you cannot quit a day job and do this full time without being
> adequately capitalized. That means you need enough capital that you
> can generate your salary off of it *without* needing to take
> excessive risk. If you need to double your capital each year to pay
> your salary, you probably aren't starting with enough capital to do
> this full time. ^^_^^ If I were starting today without any other
> income stream, I'd want a trading account equal to *at least* three
> years of (comfortable) living expenses. That would be the absolute
> minimum for me, and I would be very nervous until the ratio was
> higher. I *know* others will come in and say that this is
> unrealistic, but I will disagree strongly. Sadly perhaps, the fact
> is that doing this full time in lieu of a salaried job is not going
> to be an option for many, and for even fewer young people. Once you
> get your account up to about twice that bare minimum level, you
> should be home free, as long as you keep the focus on defense first.
>
> I don't hit many home runs, but I avoid errors at all cost and have
a
> great pitching staff. And unlike the former manager of the Boston
> Red Sox, I yank my starter, even my ace, at the first sign of a
> breakdown. And if my reliever comes in and throws two consecutive
> balls on the first two pitches, I probably yank him, too. I'd
> probably need a 75-man roster with 40 pitchers to manage a baseball
> team. ^_-
>
> (For you baseball fans -- an extremely popular sport in Japan of
> course -- the "Chicago Cubs of Japan", a.k.a. the Hanshin Tigers
> [from the Osaka region], made it to the Japan Series this year,
> unlike the real Chicago Cubs, who somehow managed to self destruct
as
> usual. But in true "lovable loser" fashion, Hanshin lost the big
> series to the Fukuoka Daiei Hawks. Some things never change.)
>
> Yuki
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