Hey Guy's Sorry for the off topic question but for the past while now every time i try to explain what i do (Trading) i get such a negative responce, its crazy. For example-Was at a large family gathering, topic came to careers and such. I explained my intentions, no one could believe i wanted to be a trader of some sort (except for a few people). They all said no one makes money, and you end up losing everything. I asked them all, if they know anything about it, and of course the general response was "Well no, but i know people who lost all there money" I even got one response you all might get a kick out of. One of my family members said he has a brilliant idea regarding a perfect investment. Here it is...Get ready "I think the best investment to make right now is to invest in my utility company. Because, i pay my bills each month for hydro and such, so since i pay the company already, why not invest in them the same ammount, so its basically like i dont even pay for utilities." I could not believe it But does anyone else get very negative responses regarding your career choice? I dunno, maybe it's because im young
it is VERY common. There was another thread that kept popping back up about what people tell others about their profession. Some of the posts were hilarious. Perhaps someone will dig it up and post the link. I really don't care what Joe Shmoe thinks, but it is ashame that many HR people will hold it against an applicant.
unfortunately everybody thinks they are investors during the market bubble and lost money if you want to make your profession look better since they think they know what you do since they in their own mind are investors as well! You need to back it up with a benz and some $$$$ Or else you are just another fade of their past investing bubble experience "hahah day trader? yeaaah ok, I use to make $5k in daytrading but I lost it all " Everybodys an investor, seperate yourself from the retards with $$$$
LoL, yea i read that post a while back, pretty funny. I wonder if trading as a career will ever be noticed positively....When someone say's "I am going to start my own business" it gets a much better response than "I want to become a trader" But the odd's i am sure are much greater. They should create a trading designation like a CFP or CA...HAHAHA Call it, CTP (Certified trading professional) By the way i am kidding
I think people give such a negative response, is because the wide range of people that call themselves "traders." Anyone with a computer and an internet connection can trade, no licsening or any work. They are working at their dead end job, and suddenly it hits them: "hey I could work from home in my boxers for like an hour a day, and be much happier, and the best part is I will probably get rich doing it." If you were a trader at an exchange, bank, hedge fund, or a reputible prop house the reaction would probably be better. 5yr
Most people tend to habor negative feelings towards the market. Primarily because they suck at investing and know a lot of other people who also suck at investing. Think about it: they never made any money off the gold bubble in the earlier 80s, never made any money off the equities bubble in the 80s, the equities bubble in the 90s, the real estate bubble of late 90s-now, commodities bull market from 2001-now. Basically over their lifetime given the opportunitity to make millions, they made shit. So they look at ever pro investor or trader as a gambler/speculator. Do not feel bad, if you are a sucessful investor/trader then you owe your wealth to them, they are useful idiots. I'm not there yet but I can't wait to take their money every year.
Exactly. My opinion of this issue is that I generally don't really care what others think of me, but if you're a successful trader (my version of success meaning that you're self-employed and able to meet your living needs without too much stress), who cares what anyone thinks of your chosen career? Better than being chained down to someone else's desk for the rest of your life in a 9-5 job...
I absolutely hated when the daytrading fad took off. I got tired of running into people who had, "just started trading themselves." I usually shut them up by saying that I had been doing it for ten year. Before the that the most common response was something like, "you F****** greedy SOB." My response to that was something I remembered from a WSJ editorial in 1988 by Victor what's-his-name. He was writing about the scene in Bonfire of the Vanities where the Tom Hanks character could not explain to his daughter what he did for a living and why it was important. Victor said a speculator was a hero because we took risks in order to provide a good or service to the public. In my case, the cumulative effect of all us treasury traders was a lower cost of capital and, hence, lower mortgage rates. Come to think of it, I am not too proud of that at the moment.
... additional ET'er-experienced misconceptions and responses... http://www.elitetrader.com/vb/showthread.php?s=&threadid=20033
I have learned something from a friend of mine who is very successful with his Amwaybusiness. He had the same problem I have when people asked him what he was doing. The negative reaction came out of that people always thought that he was contacting them to get them in his business but in reality he was just responding to there question what he does. Anyway, he has changed the answer when people asked what he does. He now reply with the standard answer: I work for a large multinational. O, yeah? which one? his answer: Mine! No more negative responses. If people now ask what I do for a living I say: I'm an investment banker for a very large private bank. O, yeah? which one? Mine! No more negative responses, either.