How much do you (and should you) enjoy trading?

[stueytrader]

A little question I've been considering - I would hazard a guess that many people who want to become traders, are presuming they will enjoy trading more than other forms of daily 'work'.

This question may vary somewhat depending on your specific circumstance, how serious you are as a trader, your employment situation, whether you're full time trading etc...

Some suggest trading should not be 'enjoyable' as that implies emotion. But, are we really committing our lives to something we don't enjoy, in that case...? Is it wrong if you connect in a positive way to the experience of trading (i.e. enjoy it)?

Please feel free to add any thoughts.

[megarain]

After u have invested the screen time, to become proficient .. in what are largely pattern recognition problems, u sort of akin it, to doing a crossword puzzle (which I am poor at).

If u like puzzles, then, u will pretty much always like puzzles, so, its engaging.

If the pass-time, pays for other stuff, then, thats just a bonus.

I dont know what other work is like (now) .. so, cant really comment, but, I used to hate the politics involved at corporates .. there is little of that, just trying to solve a problem.

[LeTiss]

You need to enjoy this, otherwise those negative emotions will reflect in your trading performance

I lost that enjoyment a couple of years back, and as a result I was starting to make casual errors due to the boredom and a lack of focus - my trading results were affected

However, when I started looking for a normal job, I quickly regained that focus - finding a job with the same money, and same levels of freedom was impossible.

[iambic_pentameter]

I'm fortunate in that I work for myself (sole trader) and can learn to trade the horse racing markets around my business.

As a fresh-faced trader, it's all new to me and I certainly enjoy that. I'm also committed to learning because I know that in the long-term, there is huge potential.

A big motivator for me, is that it's obvious that 99% of my family and friends think it's a pipe dream - this spurs me to own to become proficient at it.

Also, because I don't need to earn money from trading at this stage, I'm not putting myself under too much pressure to trade with a bigger bank and, because I'm older (41!) I accept that making mistakes is part of that process.

Onwards and upwards, I say!

[marko236]

Trading isn't easy and to make it to a full time trader i would say you need to love doing it, at the start of my trading journey i thought trading was boring untill i realised all the amazing ways you can trade to try and make a profit, it's just like a game or a puzzle, you have to enjoy it i would say.

[spreadbetting]

Some suggest trading should not be 'enjoyable' as that implies emotion. But, are we really committing our lives to something we don't enjoy, in that case...? Is it wrong if you connect in a positive way to the experience of trading (i.e. enjoy it)?

Please feel free to add any thoughts.

I don't think people are suggesting you shouldn't enjoy trading for a living more the fact you shouldn't be using trading to get your 'kicks' whether that's from wins or losses. The trouble is those adrenaline rushes from wins and losses can get addictive and cloud your judgement when trading, there are plenty of more enjoyable hobbies to do rather than trading.

[stueytrader]

Some really good points in those answers, thanks.

The point about getting 'kicks' brings a specific point of interest. I think there is likely to be a very thin line between what we'd call getting a kick, and simply enjoying the activity. Very easy to suddenly realise you are actually looking for an adrenaline rush, rather than simply getting satisfaction IMO.

A flipside to this question that I think could well be related, is the experience of the gamut of negative emotions when things are going badly. I believe that having too much of the 'kick' as suggested above will also reflect in heavier, stronger negative emotions - so definitely something to avoid.

[stueytrader]

Personally, I'm trying to study (and maybe cultivate) the idea of the happy medium in terms of my emotions towards trading.

Don't ever get too happy or too sad about the events of the trading day. But, equally I don't want to lose my engagement with this pursuit, my desire to open up the new market each day. I have found at times, that can get old pretty quickly some days. As Le Tiss mentioned earlier, boredom is not a good state to be in when trading.

[CLOWNSHOES]

I get a massive kick when trading, there is literally no better feeling than laying a horse then seeing other people unable to lay it fast enough. Youre sitting there with a green which is probably higher than what alot of people with actual live bets will win IF the horse wins.

I do get annoyed when things go wrong and i remeber reading Le Tiss say he also got a bit more invested than most and this made me feel better about it. There is ALWAYS tomorrow. When things arent going your way simply turn the computer off take a break then watch some Peter Webb videos, even if you have seen them before there will be stuff you didnt notice, just watching and seeing the various things he does will always leave you feeling refreshed and give you a few new ideas to get excited about for the following day.

But i suppose this goes back to your original question about enjoyment ... maybe im like this because i enjoy trading .... there are probably people who would get mad watching Peter after having a loss but they are haters .

[stueytrader]

Feeling 'refreshed' for each day is certainly a good start to balancing the emotions correctly I agree. Again, there's a thin line between being engaged and refreshed, and wanting to find some sort of 'buzz' from the trading activity. Finding the right balance the key for my thinking currently.

I'd also add that this question might relate to different points in the trading day - early doors can be quite different from hunting for a 'positive' trading experience in the last couple of races at Wolves around 9.00pm!

[Bluesky]

I think balance is the key (not easy to achieve I know). If you end up hating trading then that's not a good place to be, but equally I don't think as others have said you should look to trading to get your kicks as it were.

As I am sure many of you have done, I am currently reading Adam Heathcotes blog. Its a very interesting and informative piece of work. I noticed at one point he got addicted to making more and more money and pushing himself harder and harder.

Did you also notice at that time he was often getting periods of sickness. I think he was in danger of pushing himself too hard and getting seriously ill or burning himself out completely and perhaps loosing lots of the money he had made.

Fortunately he got himself a life coach and I think managed to get this more in perspective. I found just as interesting as his trading, was how Adam grew as a person during his trading journey.

[scesc]

I think balance is the key

It's cliched, but it's 100% true.

I'm almost certainly much older than most in these forums (late 50's) and my corporate career maybe has 5 years left to go (if I'm lucky). For most of my life I've been searching for sidelines that (a) I enjoy, (b) that could make some money, and (c) that involved a tiny element of risk. All of this had to fit around family life, and not affect my career of an unbroken 40+ years of employment in IT.

I started buying and selling on ebay UK around 1999, and turned a hobby into a very successful sideline. Eventually after about 3 years the parcel packaging just got to me (as did dealing with the odd moronic buyer), so I gave it up.

I moved onto online poker just prior to the poker boom, and studied, really really hard. After a slightly rocky start with a small bankroll, I went on to enjoy 8 years of very successful mostly low stakes grinding, with the occasional foray into qualifying for bigger tournaments, and played against some of the big names of the time. I loved it and it helped me develop strong bankroll management. Eventually though, players all started to reach a similar standard and the pickings were getting too slim.

Matched betting came next but was short lived due to being quickly barred from various bookies, and offers drying up. But if I'm honest, after only a month or so, it just didn't have the spark that I needed. That may sound strange when it's guaranteed money, and I can see there's a danger sign amongst that, but it's one I'm aware of and believe I have under control.

Now, as I approach my elder years I have found trading. I'm hoping that my previous wheeling and dealing exploits have taught me a lot and although I'm only 4 months into it, I'm determined to make it pay its way even if it's only a couple of quid each day/week/month.

After a manic first month or so trying out everything, I have quickly become very selective in my trades and I love it. I've no idea how long it could last, and I know I've probably missed the boat in respect of the easier pickings, but as others have said, it's a puzzle that most times can be solved, it's just that the puzzle is getting a bit harder.

Right now I could probably make much more money by having a 2nd job flipping burgers, but I have to enjoy the way I try and make my money, and I unashamedly really do enjoy trading.

[shakespeare]

I totally relate to what you're saying scesc. I think I'm on a similar journey and started at about the same time as you did. Here's good luck to both of us!

[stueytrader]

Great posts both above guys.

I wonder how much our 'other lives' away from trading make a difference. Something I think that's implied in the above posts - especially the issue of any other (or previous) careers and employment we may have.

I'm currently employed, but can find enough free time within that to trade. It's not always a bright thing to do though - sometimes I've traded (or tried) after working intensively in my other work for several hours. The trading was not fun or profitable often in that case....

[JollyGreen]

My 2 pennies

Enjoying something is the key to success and I feel it applies to many things in life. You must also think about how you judge success. I have a good friend who works almost 24/7 for a big company. He earns good money, has a nice house and car, a wife and children. Some would call that a success but actually he is not happy at all. He hates his job, he is overweight, he limps badly and despite being 3 years younger than me he looks 70. He puts a brave face on in public where he likes everyone to know how much money he has but if he makes 60 before a serious illness finishes him off I would be surprised. We talk about it a lot but he feels he has to keep up this image which is very upsetting and sad.

When I meet up with Peter for a curry, breakfast or just a beer, we are like a couple of kids in a sweet shop with money no object! We enjoy trading, we can always discuss new ideas and strange occurrences in the market and this never changes.

When I teach people about trading, the first thing I tell them is they must enjoy it or else they will find it very hard to succeed. If you enjoy something, you will relax and this will allow your brain to function correctly. As Le Tiss said, once you lose enjoyment, you will fret about things and negativity will take hold.

So my advice is to do your best to relax and enjoy it. If you are relaxed you are also less likely to get over excited with a win or depressed with a loss as has been mentioned by others.

Good luck and enjoy

JG