You’re not all gonna be rich. If you’re rich, you’ll never make it to mega-rich, wealthy enough to own your own jet/yacht/island.
Just because you “work hard” doesn’t entitle you to success. Sometimes idiots toil in the wind and get burned. That’s just a wind burn pal, not hard work. Hard work isn’t fun. It’s inherently uncomfortable.
Your $12,000 account can never get to $3 million, no matter how many times you tell me it’s possible. Every hundred years a Babe Ruth is born. Having said that, there is only one Babe Ruth every hundred years.
You will never get rich quick. Moreover, why do you feel that you are the guy, out of millions, who will win the lottery? It borders on the delusional.
Also, stay within your realm of expertise. For example: if you happen to be a really great wine retailer/taster, odds are that’s your calling, not a web entrepreneur/Anthony Robbins wannabe. If by chance you are talented at multiple tasks, consider yourself a Babe Ruth.
Nothing lasts forever. Stock market rallies, marriages, friendships, and most importantly the ability to be great. Babe Ruth once played for the Boston Braves.
Throughout my life, I’ve managed to lower my expectations for just about everything; therefore, I am never disappointed. I don’t expect things to go swimmingly for the rest of my life. As a matter of fact, I envision turmoil and hardship, even though there’s nothing in my life that can possibly indicate that occurrence. I am fueled by a refusal to fail, on all levels. When I do fail, I do not pout or crawl into a hole and I certainly do not grab the proverbial sword and thrust into battle like a half-witted jackass.
I do not mean to burst your bubble. We all have whimsical dreams and expectations. Do you remember your first night in that one bedroom apartment? Or how about the first time you drove a care or took a sip of beer or kissed a girl? I bet you felt invisible, with a spry boldness bordering on audacious–until you were taken down a few notches and learned the hard way how unusually cruel life could be sometimes.
The stock market is the ultimate humbling mechanism. On occasion, we all swing for the fences, in a haphazard attempt to accomplish great things, the stuff that’s penned in books and displayed on the teevee. Inspiration. The smart investor understands when the pitcher is too hard to hit, it’s better to choke up on the bat and aim for a single or a double down the right field line–instead of striking out and letting his team down due to vanity.
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Good post, if not a little depressing. Still though, while in most aspects of my life what you said makes perfect sense, there are a few in which I will totally refuse to lower my expectations. I have done great things in bad conditions before and will do them again because I know what it takes. So in some ways you can count me as delusional.
Why do you feel it’s depressing? There’s nothing in there that’s glum. It’s nothing but harsh realities that everyone should understand, else end up in ruins due to taking unneeded risk.
Yeah, I do understand that. The universe is indifferent about all of our existence and it’s just fact. I get you.
Tell me what great things you’ve done in harsh conditions? I do not mean to call you out, just curious.
To be honest with you, it has nothing to do with trading. However I designed and built a system while working and taking some pretty demanding engineering courses that won a design contest at the ITU(a UN agency) and got me some great visibility.
Wasn’t your 90% return in 2008 a great thing done under harsh condition?
“You’re born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you’re up in the rarefied atmosphere and you’ve forgotten what shit even looks like. Welcome to the layer cake son.” – Eddie Temple
Nice movie reference!
Hater!
Go back to spitting wine in a helmet!
His Jet fandom is his memento mori.
All that matter is family.
(And the New York Giants.)
_______
Never say never! Sounds like the words of an old (albeit wise) man. I’ve plenty of years to prove your conjecture wrong.
I agree with you on lowered expectations, however, I do think most people have some sort of talent at which they can be great, although in my worldview, “greatness” would not be defined by what society calls greatness.
It may be greatness that only a few see or even know about, but it’s still greatness.
I think one of life’s purposes is for people to try and find out what their greatness may be and that any day you get to wake up is a day to strive for your own personal greatness.
I define greatness by being able to do something that only a select few can do.
Before you all defend your greatness, think about it.
Fly, I think that is a great definition of greatness.
Translated for the Plebeians:
El Senor Fly says to raise your cash level. **** in May and Go Away.
First we were all too old after 55 now the push for long the market and get crushed
negativity abounds
a dark place is not a healthy place
Too old is 47.5 bozo
let’s face it Fly, if it wouldn’t be for your wife, you’d be in the gutter in some 3rd rate neighborhood in NY!
Not true. Speak for yourself
I’m fascinated by how people come up with shit like this. Is it from movies or something? What indicia are there of Fly’s wife preventing him from being “in the gutter?” What compels one to type something like that? I’m not sure whether it’s a shortcoming in our educational system or what, but too many people just spout off in meaningless platitudes that come from TV, match.com slogans, or other bullshit.
To make 1 million from 12k you’d need to pyramid every dollar, use intense leverage, and be incredibly consistent. You’d really need to be cool as a cucumber to pull that one off.
Oh, and be really patient at the start.
Haha not true at all. I am living proof that you can do this in under a year. All you need is resilience and confidence my friend.
I wake up every morning at 9:20am before the market opens and frontflip from my 35th floor penthouse into my valet parked 2016 Ferrari (I got conneections) and give the valet 3000$ in loose change. Push my sh*t to about 4 hundo (mph, mind you) and I get to the office in no time. All the secretaries usually get wet, and fire drills ensue but this is all normal to me. I am also usually showered with high fives from the guys as I enter the office as well. Put a massive swing position on whatever position my huge bicep vein is pointing to while I’m typing on the keyboard and head the fu*k out. At this point, its 9:31am and I just did more in 11 minutes than you peasants will ever do in your life (mind you the 3mill profit I generally make from that 1 trade).
I am cooler than a cucumber “noodleboy, I’m a fu*king ice cold greek god.
Awesome
….the great = stoned o(^_^)o
I liked the bicep part
This site is a great example. I have seen it grow from the Broker A, B days. While this is not even Fly’s primary source of income, he provides more valuable content than any blogger out there, IMO. What is fascinating is when he allows bloggers an opportunity on this platform, they piss the opportunity away. Besides Ragin, Chess and a few others, look how many have come and gone. It does require hard work, but also the smarts to entertain, provide insight, etc. which makes fly one of the greats. Most people cannot become successful as they suck ass in their core competency and everything else required to become successful.
Chess and RC are rare breeds. Most cannot deal with adversity and fold after being told there isn’t any pot of gold waiting for them.
I am generous with opportunity, not so much with coin.
great article fly!
This post should be addressed to the gov employee(pension is good?) or the kid pushing 100k in student loans. The free lunch pukes of the world. The Ibankcoin community is on top of it Senor. We have been taught well.
In other news… Rumours of the 5000 dollar watermelon has godzilla sputtering. Not to worry. The housewives of the rising sun are frantically busy lubing and primering and all such matters to fix the trivial.
But I did win the Lottery
I thought everyone could be great? That’s what they told me. The people that comment here are so stupid– I guess that includes me? Whatever, I’ll see you in Tahiti at some point and our kids can have the time of their lives. Vision is something you can’t teach, thanks for teaching me that.
You can’t pick your Passion..it picks you. It could be wine, acting or collecting string..once you find it, work in it is never hard…just pure bliss. BTW, China Flash PMI’s suck tonight.
Who is buying the piigs debt? It must be godzilla. How is this not going to blow the fuck up?
You are correct. The big bets are now being placed…
via Bloomberg (the original article is no longer available)
“Derivatives Bludgeoned by Debt Crisis Making Return: Euro Credit. Investors are reviving credit derivatives trades they used to boost returns before the financial crisis as unprecedented central bank liquidity drives down yields and default rates. Investors accumulated 47 contracts insuring a net $461.6 million of debt on so-called tranches of the current series of the Markit iTraxx Europe Index of credit-default swaps since trading started April 3, according to the Depository Trust & Clearing Corp. Tranche trading allows investors to make concentrated bets on a pool of companies with varying risks and returns. The strategy was widely used by investors before the U.S. housing crash and contributed to a $6.2 billion loss at JPMorgan Chase & Co. after wrong-way wagers by dealers including Bruno Iksil, nicknamed the London Whale. Trades are now being buoyed by the European Central Bank’s pledge last year to protect debt markets. “The ECB backstop along with high liquidity provided by central banks globally should promote risk taking and entice market participants to search for yield through standardized tranche products,”said Ioannis Angelakis, a credit derivatives strategist at Bank of America Merrill Lynch in London. “It’s encouraging seeing traction from the very first couple of weeks.”
Looks like the news anchor thing is not going to be happening for this person-
http://nymag.com/daily/intelligencer/2013/04/anchors-first-on-air-words-some-of-the-saltiest.html?mid=389394&rid=422577535
There’s a bull market in violins.
Great post.Congrats!!!!!!!!!
You want tips? HOT HOT HOT tips? I have HOT tips and I want you to bet el rancho on them.
12k at 10% return per year will be one million dollars in 44 years