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Tuesday, November 17, 2009

Freedom from being "Institutionalized" (VIDEO)

"While we are free to choose our actions, we are not free to choose the consequences of our actions." - Stephen R. Covey

Haven't had a video in a while eh?

Well, let me make up for it, with a rather long one here.

From time to time? I have "trader thoughts" topics, in which I discuss ideas central to the concept of the markets, trading, the economy, and how it affects all of us. And with the unemployment rate at 20% + real, and reported 10.2%, there are many people that want to 'trade for a living'. They want freedom.

But freedom from the corporate workplace, comes with a cost. The cost of freedom? Is freedom itself. Because that in our lives? We may become "institutionalized" . . .

... but like Red? That doesn't mean that we cannot have hope . And if we're going to continue the "Shawshank" analogy, then for pities sake ... have the patience of Andy Dufrane when trying to break into this industry ...

Others do not want to trade for a living. I discuss each viewpoint in the following "traders thoughts" entry ...

(Video Included. If you're seeing this entry elsewhere and cannot see the Video? Click here to view the entry ...)

Here is the link to the article by "Shoot an Apple of my Head" or "Shoot" as we call him, at Trading Apples ...

Again, here is the one quote that I found that was just priceless ..

"Trading has called many, but chosen few. And I believe this is, in part, for the following reason. In most cases, trading is going from a setting where you are told exactly what to do to make money to a setting where no one tells you a single thing about how to make money. From a situation where you have almost no control over your day to day activities to a situation where you have total control of your day to day activities. The contrast is often murderous. Many who begin trading think they are moving into a profession in which their objective is to trade the market and derive some sort of income from these activities. Many pay very little to zero attention to their biggest hurdle, which is that they first have to learn the art of complete control after having almost none for their entire workplace experience. This is where properly managing individual trader psychology fits into it's most important and original place. It is the common lineage of all great traders."

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have over 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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