@chimexpresh Thank you and I wish you all the best in your journey.
In terms of arrogance, it is not per se a negative trait: check the arrogant tone of successful trader and founder of ThinkOrSwim, Tom Sosnoff, in this interview:
He is a super-successful trader and entrepreneur, and yet the way he says that only trading options is worthwhile is a bit arrogant - he is saying that no other way is worth a sh*t, basically. Now, is he a failure, a non-learner? Not at all: the very get-up-and-go attitude he has is the very thing that gave him the personal success that makes him sound arrogant in that interview.
So Peter Honey’s quote is not universally applicable if you consider people like Sosnoff…
Sorry Lisa, I am trying to make a wider point, and kind of trying to reflect on when a bit of arrogance is healthy (as opposed to destructive)…
Also it is important to note that what some people deem arrogance is actually confidence. If you are Tom Sosnoff, who has been an options trader for decades and sold a trading software (ThinkorSwim) for over 600 million dollars, you are probably quite confident and knowledgeable.
He is wrong that options are the only profitable way to trade, but he is correct that they are one of the most profitable ways to trade.
@krugman25 Sosnoff did indeed sell ThinkOrSwim for $606M… He is a trading legend.
I am no apologist for bullying or demeaning behaviour, but of course we as a society seem to tolerate some of this more from outwardly successful people because it is part of the package…Of course you can be nice and approachable even as a successful person: look at the Dalai Lama! So there is a fine balance between being pushy to further one’s goals but also being graceous with people generally (even those who oppose you)…That is the hardest thing of all, getting that balance right.
And I have to say, I’m pleasantly surprised that you came back and replied. Your thread here blew up and I think someone already pointed it out - usually when someone asks a question like this, they don’t even respond back to their own thread. So this is already pretty good that you’re still here. Hopefully we see you stick around in the coming days.
Congratulations to all involved… hero’s one and all… another first time poster that added content to a thread actually relevant to the OP’s question, lambasted, belittled and chased out of town.
Even when the mods ban the terminally toxic… there’s always others to ascend to the throne…
The negativity in these forums can be absolutely astounding…
@Trendswithbenefits I think @LisaTrades will be doing okay with or without BabyPips…she has a good mentor and that is worth more than any of us may be able to offer. Having said that, I hope that this will not be the last we hear from her.
Anyway, peace… Enjoy the rest of the weekend, everyone.
No offense but I think I would rather watch paint dry. Depending on the type of person you are, this could completely demotivate you to trade in the market. The reason I say this is because depending on how you value money, what does $30 mean to you? now take that, battle the spread, trade at low pip value (probably somewhere in the .10/pip range. A 10 pip move would only be $1 minus spread. This brings me back to when I would grind micro poker stakes online( .01-.02). IT made me want to poke my eyes out for $2.00…
On a side note, what is your time worth to you? If you spend 4 hrs studying charts the night before, put your orders in, then watching it roll through 4-6 hours of volatility, thats 8-10 hours for $4-$6 if your lucky… Say you nailed it, and hit a 60 pip runner for 5 days straight( very unlikely) thats $30 total on the week with roughly 45 hrs worth of effort. Not even $1/hr. IMO live bare necessity for a month while trading on a demo account and learning your OWN system that works. Save a months worth of splurging and extra curricular activity money then deposit that and go from there. It will be way more fulfilling for you on multiple approaches
