Day Trading For A Living – The Power of Becoming an Independent Trader.

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Financial independence.

It is statistically shown that in our society most of us are gutless, feared and socially conditioned.  We tend to desire to become society-compatible by socializing with the wrong ambitionless, laid back people and getting a 9 to 5 fixed income ‘secure’ job just because we feel that we need to maintain our social conditioning.

I have lived through this myself only to find out that the so called ‘secure’ fixed income jobs are far from secure and hide many nasty surprises. In fact, if I may refer to Murphy’s law theory, (If something can go wrong, it will, and it will go wrong at the worst possible time) It applies perfectly to seemingly secure 9 to  5 jobs and I have experienced it.

With the exception of very few, highly specialized and in high demand fixed income jobs anything else is considered to be a waste of our time and true mind power. The best road to true motivational work and financial prosperity is through taking daring and ‘risky’ initiatives to run and establish your own business and financial trading is one of them.

Motivation and achievement.

Trading is exciting! When you trade you look forward to Monday and you can feel bored over the weekend, unlike most jobs, trading is one of those business where you are self employed, and in control of your actions. I personally like trading because it has allowed me to live in different countries and places like very few freelance jobs can.

From an achievement point of view financial trading is just like any other trade business. For example, I have seen people in the import-export, import-distribution and real estate business industry. They have the same personality traits, successful stock traders have.

More specifically they have the same eye for detail, strict money management ideas and the mindset of the deep, knowledgeable opportunity seeker, adhering to the concept of

‘A pessimist sees the problem in every opportunity; an optimist sees the opportunity in every problem’.

Trading is no exception, actually in my own view, trading is much like a real estate investment business which only has much more flexibility, lower start up costs and higher frequency of transactions. The risks and rewards are very similar, as long as someone is willing to work hard, trading can be enormously profitable and I mean life changing.

Financial markets affect everyone.

Contrary to the minds of the laid back, socially conditioned people mentioned earlier, stock markets affect the life of everyone of us, whether it’s currency exchange rates, bonds or stocks they have a direct or less direct but still profound influence on living costs, jobs growth, and the overall way global capital works. Sure the ignorant laid back people don’t care about where Dow Jones stands today or how EURO –USD is doing but they are unknowingly or unwillingly accepting the final losing part of a subtle trade through buying gas at the pump or paying for foreign exchange holiday money or paying their hard earned money into a pension fund whose destiny and performance directly depends on some key stocks. Traders live in the real world and understand how it works!

Paul Murphy is a passionate and successful trader.  Always in search of the best trading systems, and researching ways to help you be the best trader you can possibly be.  Discover how to improve your trading performance with articles and interviews at his blog: www dot trading powerhouse dot com

This entry was posted on January 7, 2010 at January 7, 2010 and is filed under Day Trading. You can follow any responses to this entry through the RSS 2.0 feed.