Many of you know about Norman Hallett from TheDisciplinedTrader.com, and if you don't you should! Today I've asked Norman to bring us some of his wisdom and insight when it comes to being a full time trader. Norman's been a full time trader, then managed a room of full time traders, so he knows what it takes to be one...and be a successful one! Please enjoy his article today and visit TheDisciplinedTrader.com for a special free copy of his book "Taming Risk", enjoy the article.
People fantasize about what it must be like to be a full-time trader. The picture is of a relaxed person sitting in a lounge chair on the foredeck of an expensive yacht docked in Newport Beach or somewhere in the Mediterranean. Armed with a laptop, a cell phone and a large pitcher of rum and chilled grapefruit, the trader (who looks remarkably like a buffed version of you) scans a graph that pops up on the screen. The trader then activates the cell phone and places an order. The cell phone is snapped shut followed by the laptop. The trader stands up, stretches and dives off the side of the yacht into clear warm water. Come to think of it, the yacht is in anchored in a beautiful inlet off Tortola. The water is warmer there.
The implications are clear: easy money, independence and unlimited wealth.