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Was thinking about this again recently over the holidays.
The question is: "Do you admit to being a trader?". What I mean is that when you introduce yourself to someone and they ask what you do, what do you tell them? I have found that when …
I share Big Mikes sentiments on this subject. I love this game and there is a certain sense of pride knowing that Ive been through the grinder and come out the other side still determined to join that elite 1% group. Believe me when I say there were many times that I wanted to give up. I was suicidal at one point no jokes. Life at the time was stomping my head in and then to throw petrol on the already raging fire – I turned to trading! Its almost comical now when I think about it. Nowadays I don’t consider anything other than my success as a trader. I am in the deep end without a life jacket.... 100% committed. Bring it.
But to try and share that with someone that doesn’t understand? I dont do it anymore. Its such a deep meaningful subject to me that I don’t care to share my opinion with people that are mostly flippant and dismissive about it.
Besides, I can talk the hind leg off a donkey on the subject of engineering or even IT if I have to
Had this exact same conversation multiple times at a wedding last weekend. Most of the other side of family couldn't believe it when I told them I trade commodities for a living. I knew in advance that most were farmers who grew corn and beans and would probably be giving me a look or something of a hard time. Told one that I work in an different kind of air conditioned cab, don't have to put up with John Deere software, weather, the governments prices, 'interest rates, fuel prices, etc. One asked me if I traded corn. Told him no, the grains are all screwed up right now, there are other markets much easier to make money with. Another asked what kind of crystal ball did I have....
My side doesn't really get what I do. They do know that we aren't hurting financially....
Really like the part of watching the faces of people when you tell them what you do. If don't want to deal with it, I just tell them I deal with financial risk and money management.
Im glad you asked
Anglerfish because it is the perfect trading metaphor for me.
They are fearsome looking predators using a luminescent lure to catch prey....and sharp pointy teeth. To me the anglerfish represents institutional money.
The seductive lure of making easy money is very tempting. Many are mesmerised by this dreamy ideal but fail to identify the danger attached to the fantasy. Most dont make it.
What do you tell other people, including friends and family, when they ask you, "What do you do for a living?"
What do you say to people that want to discuss how you earn money?
In your experience, is it better to not discuss it at all? Or do you be open about what you do and how you do it down to even showing them all setting and indicators if they ask?
I kind of feel like if I develop my own trading strategy I wouldn't want to give away my secrets and methodology.
But how do you introduce yourself to people when they bring up the topic of occupation? Do you tell them you are a futures trader, or an investor, or a speculator, etc.?
Has anyone run into problems with telling people "too much" about what you do? Do people ask you to teach them/show them? What do you do? What is the best way to respond?
Those of you who have been around the block, what are your experiences on this?
They don't really want to know, they are just being polite and making conversation so they can tell you what they do.
If they ask, I tell them I'm in the Iron and Steel business.
If they want to know more I tell them:
"My wife takes in ironing and I steal."
LOL But really, if you tell them too much, they want you to trade for them.
So I usually just tell them I am retired and just surf the net a lot and do what ever I want.
They translate that into "He's a bum and watches porn all day"
It is no one's business but mine, what I do.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
I'm of the opinion that you should never have embarrassment on who you are or what drives you. In fact, if you are making money in a business where 80% lose you're a brilliant person and you have a talent many don't have. I explain that I basically make money from tiny little price differences in for example oil.
Can you trade my money? No. Even if I wanted to tax rules apply.
So you're just a lazy person? Try it yourself.
Must be easy... well how would you feel if at the end of the day your boss decides whether to give you money or take money from you based on your performance on only that day?
Can you teach me? Sure, wire me a 100k and I'll explain some of the basics to you.