When I was introduced to trading 5 years ago I never, at that moment, imagined that I would be at the point where I am today. I was still working about 80+ hours per week, having started off as an ‘on call garbage collector’ if you will. By no means am I saying that I am now successful, or that I have “made it”.
Back in 2012 forex seemed to still be a relatively new concept amongst the general public. Fund managers were held at high regard, and the generic lifestyle was later sold off through movies such as ‘Wolf of Wall Street’. Just to side track; everybody missed the point of that movie – you all literally fell for the one concept that the movie tried to safeguard you from.
So in 2012 it still seemed secretive, and only your imagination was left to wonder off at what a trader’s lifestyle could be. There were few mentors around, if any, and even fewer trading schools. The way that you learnt to trade, as a regular Joe, was to open a demo account through a horrible broker, read their introductory material if you weren’t lazy (I was), and start trading. Looking back on those years trading still seemed a bit elitist, but that’s exactly what drove me towards the industry. I’ve always had a curious nature, especially for things considered taboo or not “mainstream”. Trading gave me the opportunity to explore what seemed to be a deep, dark rabbit hole that not many people took the time to look into.
The idea of being regarded as a “trader” made someone feel like a true individual, someone special. I guess this was driven by the elitist view that society held of the industry. I could have been proud to call myself a trader.
Unfortunately my nature didn’t allow for that. Instead I fell in love with the process and the “chase” of knowledge. I had already cracked the simplicity of the money making machine, but I had not told anyone about it. Instead I still kept my 80 hour work week whilst trading after hours and driving myself to the ground in search for more information on the concept.
I do think that my nature, one that would probably indicate self-sabotage, led me to become a day trader. I can’t say that I got a rush when trading but I did enjoy trying to decode the numbers and the patterns, whilst under intraday pressure. Swing trading, whilst more probable to lead to success in my opinion, has never brought that feeling out in me.
Trading is an art form. That’s not debatable.
That’s why the present day industry disappoints me. It’s like a Basquiat being painted over for a fresh perspective – it’s just wrong. That’s why I cannot proudly call myself a trader, I have to remain secretive – 5 years down the line.
It seems that as with all good things, opportunists have exploited the grey areas for their own benefit. The general public thinks that they have some sort of concept of trading, but it seems to be a fallacy. One that feeds off of the modern day marketer.
It seems that every “trader” is some sort of guru. This should not be a self-given title, as it has often become, but rather one that is earned with the respect of followers. I would also like to clarify the title “trader”. If you can open an MT4 platform, analyse technicals and place a trade; you’re not a trader in my eyes. I know that it is not a popular opinion and all the “gurus” will deny me, showing off their million dollar demo account.. If I ask you a simple economic/ corporate finance question, would you be able to answer it? Can you explain to me how a monetary policy affects several asset classes and how these correlate? If yes, then we’re getting started. For the general “guru” or “expert” these types of questions would make their little brains explode.
Secondly, when did motivational speaking and trading correlate? The biggest liars in the world decided that the forex industry was the easiest to con! WOW. The saddest part is that people believe them. Not just any people though – their target market: low income earners that are praying for any chance at a better life.
What a revelation.
I genuinely resent the social media “gurus” and “experts” that have ruined the industry that I fell in love with. I used to look forward to hearing about trading, but now I try stray from social media as the next idiot telling you that he will make you rich is constantly lurking in your news feed.
Like with all things, this too shall pass, and only the passionate will survive. Like a hyperbolic stock the industry will come crashing down, taking the blood sucking leeches to the next one. I’ll be waiting here, watching, and shorting all the fakes out the market.