Why only traders? There are accomplished people in every field we could envy. Trading for some reason beginners think it is very easy to become rich quick. But it is as difficult a field as any other. So no need to envy. They are skilled at it. We are all skilled at something, hopefully.
Hmm.....strange reaction.
My point is successful investors/traders are as rare as neuro surgeons. If they became successful it is because of lot is skill, either they are born with it or lots of hard work+skill. Not everyone can do and it is okay to be an average investor. There are many ways to make it. Some people will make it using high salary income some people using trading income or some just work in their own business and do well.
I believe it is a lot easier to be successful investor than a trader.
I believe it is a lot easier to be successful investor than a trader.
And since we are participating in "Money Mind", my post directed towards this field.
sidenote: Envy those born in diamond spoon as well
https://www.cnbc.com/2022/12/10/bil...iven-by-envy-not-greed.html?&qsearchterm=envy
This part I really agree.one thing i observed/read from my decade of active investing/trading that to be successful in trading, we need to unlearn the trait of being efficient. From young, in school and values taught to us etc, we are accustomed to do things fast and efficiently. We are bred to be impatient and emotional. The big boys and their team of traders exploit this flaw in retail traders. They test your patience and emotions by ranging the price for an ungodly amount of time to infuriate you. The attributes needed to succeed in corporate job or entrepreneur is like opposite for an investor/trader
If an investor is aiming for a ROI of 8% pa and risk free rates are 4% pa, then for such an investor with 50/50 allocation the other 50% has to earn around 12% pa (or avg 1% per month).option sellers work with peanut premiums. they don't call us picking pennies in front of steam rollers for nothing.
if big money is what you are after, then should take directional option bets. but if consistent income is what you are gunning for, then better stick with camping the short put at the expected move. I am not a big fan of CSP cos they are capital inefficient. If you have access to spreads, better to add a long leg to curb collateral requirement.
depending on your competence level, there are actually additional trades you can take to boost the peanut premiums safely & align it to your outlook - short term bearish and long term neutral.
- put ratio
- put broken wing
- Iron condor
- long put condor
but if you have not traded any of the above, best just to stick with CSP.
Is it? I thought many YouTube popping up and machiam talk show more and more. Keep hearing webull/ tiger and the crypto BS. They talk about skin in the game but in the end, always manage to siam with minimal losses. Those who follow hong gan in the end….
Wow, you wrote this in Dec 2021 and this is exactly how it played out!
Wow, you wrote this in Dec 2021 and this is exactly how it played out!
20/21 tutorial mode finish liao. 22/23 start is normal going to hard mode. Haven't reach the boss stage many ganna wiped out already.
Its not no reason. You look over the weekend the number of articles that emerged on how China cities are not prepared for such a sudden reopening and that the number of covid cases are silently increasing while medical supplies are rapidly decreasing. The China market has moved on from the initial euphoria from reopening and now trying to absorb the reality of businesses and industries being disrupted from the high covid cases.
