Daily Speculations
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James Sogi
Philosopher, Juris Doctor, surfer, trader, investor, musician, black belt, sailor, semi-centenarian. He lives on the mountain in Kona, Hawaii, with his family. |
6/18/05
Fatherly Advice, by
Jim Sogi
On Father's Day I think back to some of the things my father told me. My father was a lawyer on Wall Street and Park Avenue for 40 years. When I first started my career he told me something I've never forgotten: "Don't worry about the money. Work hard. Do your best. The money will come on its own."
He's right. Money is not the goal of a profession or a job. It's a byproduct of hard work, character and integrity. In trading, profits are the byproduct of hard work, enthusiasm, development of personal character and integrity. Doing the right thing in the market is not making the most money; it is doing what is appropriate for the market. Seeking more money can lead to loss or frustration.
Another thing he told me: "Work hard on the small cases at the beginning of your career. The issues are the same and just as important. The only difference between the smaller matters and the big cases is the number of zeros." In trading, the trade of a handful of contracts is the same as one of hundreds. The only difference is the number of zeroes.
c
Jim Sogi, May 2005
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