Why Do I Trade? Why Do You?
- Posted by chicagosean
- on July 21st, 2012
No really… Whyyyyyyyyyy?
If one were to examine my body of work, crafted over 14 years of ups and downs, a reasonably sane person might conclude that I trade because I hate myself. How else to describe a quest that has yielded me neither riches nor lasting happiness, only consistent frustration?
Summertime is often a great time for me to re-read the trading classics. Currently I just finished New Market Wizards, and now I’m getting started again on Market Wizards (both by Jack Schwager). Reading these books always reminds me that knowing Why I trade is just as important – perhaps more important – than knowing How to trade, When to trade, What Not to Trade, etc.
So its very important to examine what my expectations are for the career path I’ve chosen.
The troubling thing is that after 14 years, I’m not sure I have a solid answer to the question of why. I tell myself I trade because I like the independence of it. The scorekeeping of it. The knowing where I stand at all times. The Black-and-Whiteness of it all. But is that really the truth? Or are these just a small sliver in a long series of believable lies we tell ourselves to justify our actions?
You’ll notice I’m using a lot of questions marks. It seems the longer I’m at this, the balance of questions I have is consistently growing while the answers I have are frequently diminishing. I suppose the silver lining of this is I’m constantly mentally stimulated?
This blog piece by Joe Fahmy arrived on the StockTwits Network at a good time for me. It was a nice reminder about Confidence. Give it a read and begin asking yourself questions about Why you trade. I’ll be doing the same.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Sean McLaughlin - Editorial, Curation, & Investor Relations Solutions at StockTwits. Also, former Member of the Chicago Board of Trade who trades his own account in Boulder, Colorado. More »
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