some excerpts.. and
http://www.sanglucci.com/lifestyle/the-life-of-a-day-trader-part-2-quality-of-life/
When you’re on a bad streak in your trading, your quality of life seems to slump as well doesn’t it? – See more at: http://www.sanglucci.com/lifestyle/the-life-of-a-day-trader-part-2-quality-of-life/#sthash.9znkcVDW.dpuf
The point I’m trying to make in this article is that quality of life is actually more important than any of you currently realize. – See more at: http://www.sanglucci.com/lifestyle/the-life-of-a-day-trader-part-2-quality-of-life/#sthash.9znkcVDW.dpuf — i think that he has a good point here.. but at the same point you need to make sure that your quality of life is sustainable through brutal periods.
The motivation to do anything meaningful for my life, no matter how minuscule the task, can not be found anywhere despite my half-assed efforts. – See more at: http://www.sanglucci.com/lifestyle/the-life-of-a-day-trader-part-2-quality-of-life/#sthash.9znkcVDW.dpuf
One of the most commonplace behavioral pattern I see in humans today is our tendency to push off timely and necessary changes in the way we think or act because we derive no discernible benefit from it at this very moment. – See more at: http://www.sanglucci.com/lifestyle/sang-lucci-embrace-the-time-you-have-left/#sthash.M4lKHV2O.dpuf haha—yes!
Why we are so caught up in the moment has now become a concept that I’ve been struggling to understand. Take trading for example, most of us can not peel ourselves away from the markets to enjoy what lives we have left. – See more at: http://www.sanglucci.com/lifestyle/sang-lucci-embrace-the-time-you-have-left/#sthash.M4lKHV2O.dpuf — also define trading as “job” or “career” — anything that you do because you feel you “have to” in order to “get somewhere” … you need balance… you need to prioritize effectively and honestly.
If you don’t start now and by your own accord, there’s no amount of self-loathing that will help you. You can spend your whole life putting off the changes you need to make and eventually they will end up destroying you. This is the law of the land and of human behavior. You can choose to accept it or do something about it. It is simply… a choice. – See more at: http://www.sanglucci.com/lifestyle/sang-lucci-embrace-the-time-you-have-left/#sthash.M4lKHV2O.dpuf
You are presumed innocent until proven guilty, but that isn’t necessarily the case in the court of public opinion. – See more at: http://www.sanglucci.com/lifestyle/cowboy-trader-bull-part-1/#sthash.Fxgea0js.dpuf
Hypocrisy is everywhere, and in everyone. It feeds off our own fears, insecurities and need to be part of the whole. – See more at: http://www.sanglucci.com/lifestyle/cowboy-trader-bull-part-1/#sthash.Fxgea0js.dpuf
http://www.sanglucci.com/lifestyle/the-cowboy-trader-confidence/
“Where you heading?”
I reply, “to make money.”
Being up big means you have to get out somehow. — not sure i agree… it depends.. and all things are relative.. the trick is to constantly be driving throughput.. but say you have 5 really good employees that make you $100,000 per year each… should you fire them? no… but in the case of trading, say you can put them together into a business and sell that business… yes there is some valuation where you should be willing to sell that business that makes $500,000 per year.. i would say that the factors at play in terms of determing the multiple of the valuation that you are willing to sell the business for directly relate to sustainability and pricing power assuming that you are not integral in overseeing the employees.. obviously, larger businesses command larger multiples for this reason and smaller businesses that only justify the wages of the owner are difficult to sell at multiples over 3x. based on what i hear… $250M is where multiples begin to expand by roughly 60-80% in the market. operating leverage and future growth potential are key as well… also how much everyone believes you and how capital intensive the business is.
http://www.sanglucci.com/lifestyle/liquid-snake-working-hard-or-working-smart/
Mentally grasping and accepting the differences between hard and smart work is a must. – See more at: http://www.sanglucci.com/lifestyle/liquid-snake-working-hard-or-working-smart/#sthash.9JN4yaZX.dpuf
Hard work gets you to a level where you can compete. Smart work gets you to a level where you can win. – See more at: http://www.sanglucci.com/lifestyle/liquid-snake-working-hard-or-working-smart/#sthash.9JN4yaZX.dpuf
In a world governed by philosophies like ¨hard work pays off¨, it’s good to remind ourselves that ¨smart work¨ pays more. – See more at: http://www.sanglucci.com/lifestyle/liquid-snake-working-hard-or-working-smart/#sthash.9JN4yaZX.dpuf