Recent posts have mentioned what the difficulties are in becoming a sports trader and also the pros and cons of actually making it to full time trading. One thing not fully flagged up was; What are the reasons for becoming a trader? If you are currently striving, learning and endeavouring to reach a level where you can live comfortably from sports trading profits, what are your reasons for doing so?
You might say, I want to be my own boss, maybe you're doing it to have more time, perhaps you just want to earn more money than you do now.
So, lets say you've made it. You are your own boss, you have more time and you earn twice as much as what you did when you were employed. Now what are you going to do?
I won't lie, it's bloody great just having the above, though that novelty will not last. What will you do with the extra time, the extra money, the extra freedom?
Coming from a corporate background, my habit is to set goals to achieve and I do this every year. For 2011 they were to finish our home re-furb - I've been carrying a bit of timber so I wanted to get a lot fitter - lastly, there was a financial target that I wanted to hit. (We three are to become four in the New Year and I wanted to be sure the additional expenditure could be covered).
Work is being finished on Lambretta Towers as I type, much of it has been done by me. I haven't been in such good shape since my late teens and confidence is high that by Xmas Eve, the financial target will be hit.
None of the above could've been done were I still in gainful employment, certainly not in the same time frame.
Next year's goals are already being finalised and will be on my office wall, as this year's were, before January 1st.
If you won the lottery, after you've bought the houses, the cars, the gadgets, had the holidays and dabbled in philanthropy, what would you do after that? It's that kind of thinking except with a much greater sense of achievement.
Not even bothering to look at the in-play coupon today.
Whatever you trade, stay green.