For those of you that are not yet aware, in these past few months i have acclimatised myself to the life of being a day-trader, sitting in front of the com between 4 to 6 hours a day, earning a tiny, but growing income.
I am sure many of you have heard of infamous story of the wolf of the trading world, characterized by movies such as Wall Street, Ponzi schemer’ Bernard Madoff, and many other hedge fund managers earning billions every year. And to tell you the truth, when you get down to it, you realize how they were able to achieve such a feat, often without any of their own money to start with. Literally, creating money out of thin air.
There is a lot of upside of doing a day-trading when you are at my age. You can afford to take the losses for one, knowing that you still have the life ahead of you if the market take a turn for the worse. The income is pretty decent, easily blowing those part-time restaurant jobs or a volunteer intern with little or no pay, provided of course you do your research and do it well.
As with most things in life, there is almost always two-sides of the same coin. Being in this business intensively for the past 6 months, you can see that in essence traders are simply said, bastard. Smart, but heartless. And indeed, being heartless is probably the best thing you can have to succeed in this line of work. Let me illustrate my point, If there was a natural disaster, such as the recent Queensland flood, I can guarantee you that the traders will capitalize on the rebuilding project, while selling off companies that are taking a beating like insurance. Although, they can make excuses and say, we are contributing and funding the recovery effort, everyone knows that the only benefit they want is the enlarged wallet. People get jailed 10 years for looting in a disaster of this scale, and the value of the loot is simply said negligible.
Many other things that traders do can be considered a crime, if the offence were visible, but we have the easiest of excuses, that we are simply playing within the rules. Its no wonder, the financial engineer of Wall Street and the like have an enviable position. The combined power of the money that we trader have, is enough to make or break countries, we are able to make money when things are going bad, and when things are going good. If people all over are losing money, we still make money, if people make money, we make money. The real loss you have if you enter this line of work, is selling your soul, and i’m not sure if i am able to do that.