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I came accross an interview which I wanted to share with readers. Chicagosean - a trader interviews Everett Bogue, the author of the fantastic website/blog Far Beyond the Stars. Everett is not a trader. Everett has developed his lifestyle to live with less and work from anywhere in the world. Here are gems of wisdom from that interview:
Location independence really has been made possible by the radical expansion of the Internet over the last few years. Working from your laptop is pretty much what everyone in the information or trading business does these days, so why do it from one desk when you can do it from anywhere in the world?
Yeah, well... do you really need to trade all day? As I said previously, I don't know anything about Trading, but take a moment and imagine this: What if you were to find a way to identify the hours of the day when you do your best trading? Maybe it's after your first cup of coffee and before breakfast?
You might find that spending 30 minutes a day trading, with a specific plan of action, or by trusting your instincts can lead to a much more profitable business than spending 8 hours a day trying to make sense out of a lot of numbers that are going up and down.
A lot of people can benefit from pulling the plug on information overload, trusting that their decisions are right, measuring results, and then replicating successes. Spending all day a computer, in my experience, doesn't accomplish that as well.
"A hunter spots opportunities and greets them...this, above all else is the winning strategy for working less." AND "Once you start to spot opportunities outside of everyone else's assumed reality, you'll begin to notice them everywhere."
ChicagoSean, the trader says: In fact, a little while back I wrote a blog post discussing my attempts at slowing down in a trading world that is constantly speeding up. Humans can't possibly compete with computers on speed. So the trick is to learn to play a different game that relies on your intuition and the big picture.
Sometimes Traders get into the rut of trying to be perfect. As you've written before, "Perfect is overcoming the final 1%, and most people can't do that". I've always repeated the mantra: "Perfect" is the mortal enemy of "good enough."