Top Tweets for #Purewisdom

I've noticed a lot of ego among traders lately. Who's the best, who has what, who did this... who cares? In my early trading years, my ego almost ruined me and my career. At 30 years old, with a million-dollar account and multiple seats at CME, I could have eased off full-time trading, invested most, and kept a small day trading account looking at semi-retirement in my 30s. Instead, I tried to keep up with the Joneses, owning three houses, multiple cars, and aggressively trading for more. It wasn't enough for me; I wanted to be the best. After a small drawdown and quiet markets, I found myself in a bad situation even though I wasn't losing money, I was making far less. I had rent at CBOT, clerks, a Bloomberg terminal, and an expensive lifestyle. Now with really slow markets, panic set in, forcing trades and I started to lose more. My seats and homes lost value, leaving me worth much less. I had lost sight of why I started trading. I wanted financial freedom, but instead, I created a financial disaster. Narrowly recovering, I sold seats, sold two homes, and had a heart attack at 36 due to recklessness. This moment was a blessing, as it forced me to slow things down. Telling me to enjoy the process, cherish success, and be content with others' success. There's always someone better than you. There's always someone with more money than you. In the end, you trade for yourself, and how you match up against anyone else means nothing. To my fellow newer traders: slow down, stay humble, quietly build wealth, respect others and this business. A better future awaits for you and your family. Cheers, DELI