Twilight on the Beach as I Ponder Why I Teach
My wife, Dale Ann, and I are sitting high on our deck, watching the most beautiful sunset over Lake Erie, sipping some of the finest fruit of the vine. Down the way on the sparkling sandy beach, the sounds of kids kicking a ball, with their music playing faintly in the background, are augmented by the smell of someone’s smoky, sweet barbecue. Dale Ann tells me just to enjoy it; we’ve earned it. The kids are grown and on their own, we have a wonderful family, some dear friends and plenty of food in the fridge… good cars, all the toys and even a few dollars in the bank… we have never been so blessed. Life is grand.
I still trade, but not as often as I used to. Sometimes this bothers people when they ask, but my answer is clear.
As we grow in our careers and accomplish certain milestones, we move the goal post and aim higher. Someone earning $30,000 a year would be thrilled to increase it to $50,000, except that when they get there, they rejig their target to make $80,000, and so on. It’s all relative. I recall a story about a young investment banker who was genuinely angry — livid, in fact — because he only made $50 million one year and his co-worker made slightly more. He stormed into his boss’s office to demand a raise.
Bernie Madoff, for example, is well known for his crime and is the most notorious financial criminal of all time. He masterminded a Ponzi scheme estimated to be worth around $65 billion. But did you know he also built a highly profitable securities firm with an average daily volume of $740 million traded through his Bernard L. Madoff Investment Securities? That was about 9% of the New York exchange’s volume. He was an excellent, highly respected market maker, all legitimate. A huge success, he was earning $25-50 million a year, according to a former staffer.
Madoff had it all. But I have something he never had: enough.
I still love to trade, and I do. But I am at a point where I do not have to risk hard-earned money to make money I don’t have or need. It just makes no sense to risk something important for something that is unimportant. I am very happy with my life. I’m guessing that my partner, Jon Johnson, is also feeling the same. We both have… enough.
It is true, we don’t need to teach; we can just trade. The short answer to that is “don’t ask why, just be thankful we do!”
The long answer is that we thoroughly enjoy the fruits of our labor when people respond with their incredible results. We see them daily in the Trading Room and in unsolicited comments. Beyond making money ourselves, our excitement comes from hearing the many success stories, where traders can enjoy their lives, doing the things they have always wanted to do. For me, I also value the stress-free moments where I no longer have to worry about overnight positions or wonder where the market will go tomorrow when someone says something or an inflation report is issued. Jon and I can make money, not a problem. Envisioning the glow on the faces of those crying out “made 207%”, “my biggest win ever… a whopping 138%!!!” or “had 40 contracts of the 567 calls… profit of $26,320!!!”… THAT is what keeps us going, day after day.
If you are not a member of the Trading Room, perhaps it is now time to join. Need I say more?
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Our Pick of the Day is an early morning trade from the opening bell. And you won’t go wrong with the Inner Circle, all excellent programs to get you up to speed with day trading options on the SPDR S&P 500 ETF Trust (SPY).
If nothing else, join us Sunday night at 8 p.m., ET, for our Intro to Trading/Week in Review. It’s informative, engaging and entertaining… and costs you nothing.
It’s not just about making money trading; it’s about lifestyle. When you have enough, you can enjoy it all. As Jon says, “Success is being able to do what you want, when you want.”
Create great trades!
Hugh
