|
PureBytes Links
Trading Reference Links
|
Good advice Vitaly.
Ian
----- Original Message -----
From: Vitaly Larichev <vitaly-all@xxxxxxxxx>
To: Metastock List <metastock@xxxxxxxxxxxxx>
Sent: Sunday, September 24, 2000 4:10 AM
Subject: RE: Living as a trader - How to start?
> My 2 cents ...
>
> Any change of life one undertakes is always a leap into unknown. So, you
never know.
> Another insignificant wisdom I want to share (sorry <g>) is that life is
stressful.
> But trading is exceedingly stressful profession. Moreover, to succeed you
have to have
> not just an ability to sustain the stress, but also to operate efficiently
under the
> stress. Actually every day, and in many cases it means not an ability to
act fast (like
> firemen, paramedics), but rather to act slow, i.e. to have enormous
patience. The
> problem is that MOST OF US KNOW LITTLE ABOUT OURSELVES IN THIS
> RESPECT UNTIL WE GET INTO THIS. Underestimating this part is why, IMHO,
> so many people fail in trading. Not because they are not too smart or know
little
> about markets, modeling and/or programming.
>
> Well .. seems I am about to offer an almost silly advice - see first if
you can swim
> before jumping into it.
>
> By the way, I wouldn't count on profits from trading for a couple of
years, at least,
> even if things go well. To wise up one has to go through great
disappointments, it
> applies to trading, too. I wish you all failures one can imagine fall on
your first
> trades, hopefully moderate bets. I was myself lucky enough to have a huge
monetary
> loss with my first trades - it sobered me quite a bit and its lessons
served me well
> later.
>
> Cheers, Vitaly
>
|