(this isn't ranting)
The media reported on the results of the FX challenge. The winning team, earning $1.5million, made the following comment:
Which is much like life, if you think about it. If you want to make it big, you've got to risk sinking real deep. It's all about putting it all on the line, and hedging those risks if you can afford to. (But you don't usually have that luxury) Which is why having a decent paying job working for someone else usually doesn't get you filthy rich. Am I willing to risk it all? Would I mortgage my apartment, sell the car, remortgage the apartment just to fund a start-up that I can only hope will make money eventually? Would I speculate on currencies with uncovered positions in real-life just like what I did during the FX Challenge (if regulations allowed for it)? Hell no. But that's alright. Afterall, I'm not dying to be filthy rich.
Cos this is my material wish list (assuming I don't uproot). I don't NEED to have them all. I'd just be pretty satisfied if I did:
So, you see, I'm reasonable. I don't need to be filthy rich to be happy.
The media reported on the results of the FX challenge. The winning team, earning $1.5million, made the following comment:
"'Our strategy was to take a long-term view on each respective country... We... traded almost at our limits. We took very aggressive positions in our long-term views"While I don't dare deny the brilliance of their strategy, it just shows that much of a trader's success is owed to luck. You don't make $1.5 million in an hour by just following the market. You don't lose $1.1million doing the same (that's me). The only way you make/lose over a million is if you speculate - when you expect something to occur and start building toward it, hoping that it eventually happens. And.. for us, it didn't happen. Bleh.
Which is much like life, if you think about it. If you want to make it big, you've got to risk sinking real deep. It's all about putting it all on the line, and hedging those risks if you can afford to. (But you don't usually have that luxury) Which is why having a decent paying job working for someone else usually doesn't get you filthy rich. Am I willing to risk it all? Would I mortgage my apartment, sell the car, remortgage the apartment just to fund a start-up that I can only hope will make money eventually? Would I speculate on currencies with uncovered positions in real-life just like what I did during the FX Challenge (if regulations allowed for it)? Hell no. But that's alright. Afterall, I'm not dying to be filthy rich.
Cos this is my material wish list (assuming I don't uproot). I don't NEED to have them all. I'd just be pretty satisfied if I did:
- A 3-room unit at The Nexus ($1.6m)
- BMW 650 ($338k) - by day
- Audi R8 ($495k) - by night
- Korg Triton Studio ($4k)
- Boston Upright ($10k)
- Bloomberg Terminal ($1.5k/mnth)
- ACSOBA membership ($500)
- Misc nightclub memberships ($1000/year)
So, you see, I'm reasonable. I don't need to be filthy rich to be happy.
