The Closure of GETC
I went back to meet up my local friends last evening at GETC. It was sad to see them pack and go like that at 7 pm when Nikkei closed. Some of them had been trading there for years day-in day-out and of course they would have developed sentimental feelings towards the people and place there. Of course, most of them denied it.
Trading as Local has fewer and fewer advantages over retail customers as most of the freebies had been removed from SGX and rebates on commission by brokeage firms were either reduced or ceased totally.
Some of the Locals plan to or have changed their trading style from scalping to even position trading as they have no speed advantage when they trade from home or from their broker's trading arcade which are believed to be slower than SGX's lease line.
Sigh... it's sad but just like in any business, we have to accept changes when changes embrace us. I still believe to be a full-time trader, one must have real passion for trading and must treat it as a business, and not deem it as another job. It's never a Job!!
No employee will wake up early in the morning with a smiling face and say: "I can't wait to go to work!" I know of a Local who was so angry with himself when he was 5 min late for the Nikkie opening. Because he was late, he missed opportunities for 'yum' trades. That's the different mentality and attitude between a salaried employee and a business owner.
Passion - quoted from Steve Job: " If today were my last day of my life, would I be doing what I am about to do today?"
Ask yourself this question from the bottom of your heart.
Trading as Local has fewer and fewer advantages over retail customers as most of the freebies had been removed from SGX and rebates on commission by brokeage firms were either reduced or ceased totally.
Some of the Locals plan to or have changed their trading style from scalping to even position trading as they have no speed advantage when they trade from home or from their broker's trading arcade which are believed to be slower than SGX's lease line.
Sigh... it's sad but just like in any business, we have to accept changes when changes embrace us. I still believe to be a full-time trader, one must have real passion for trading and must treat it as a business, and not deem it as another job. It's never a Job!!
No employee will wake up early in the morning with a smiling face and say: "I can't wait to go to work!" I know of a Local who was so angry with himself when he was 5 min late for the Nikkie opening. Because he was late, he missed opportunities for 'yum' trades. That's the different mentality and attitude between a salaried employee and a business owner.
Passion - quoted from Steve Job: " If today were my last day of my life, would I be doing what I am about to do today?"
Ask yourself this question from the bottom of your heart.