Discussing trading with friends

Discussion in 'Psychology' started by trading1, Jun 11, 2009.

  1. How well does trading fit in with emotional experiences elsewhere, with friends or everyday domestic life? Do you find it can be really difficult to discuss at times or can dwarf other issues?
     
  2. My friends and family know I trade. But they also know that I dont trade full time, so they probably think its just a "phase", and dont really ever bring it up.
     
  3. buylo

    buylo

    Well, I find that my trading sets my mood overall. If i am having a bad run, then you can bet I stick my head in the sand alot and avoid contact with other people. In my domestic life, this is easier to get away with since I am single, and trading defines much of myself. After 10 years it has gotten easier. I have seen alot and know what to expect. It is hard to keep your emotions in check with other emotional experiences. Especially being a daytrader because your mood will be altered every day! Just don't let the lowest lows outweigh your highest highs, emotionally.

    My brother traded with me (us) for a little while and it was harder for him to put the wraps on it. He is married with 2 kids and the kids need a father, whether or not he made or lost money. The first question walking in the door from his wife was always about the $$, so that never helped things. He was very emotional and wore it continually outside of work. Ultimatley he ended up leaving. It still consumes him, but the heat was on from the beginning. Moved to Chicago with a wife / kid and started cold turkey. Went for his dream.

    With the markets being a dominant issue for all, it is difficult to NOT discuss it. Every damn day I get a question about the markets. Especially the, "....where do you think it's going. / What stocks are good (I trade 80% 10 year futures)? I have given up the bullshit and just tell people my positions or that I have no f*cking clue. Especially with guys from work, the converstaion rarely turns from things other than trading related.

    Wouldn't want it any other way, baby! During these turbulent times I think back to the days of parking cars and selling shoes. No thanks.
     
  4. I find theres a bit of unwelcome attention being sort treated like an honourary expert sometimes, when really that doesn't suit somehow. Then theres the times when you wish to mention success but it'd come of as bragging, times when things go bad but would seem like a disaster compared to the everyday events going on.

    I don't mind the ups and downs, they don't effect me personally that much, they are not so much emotional, more a satisfaction/fustration thing. But it can be difficult being 'in tandem' with other peoples views, when you may have 'something on your mind' when you don't want to go into a lot of lenghty detail about it with others when you haven't worked it out yourself.

    Sure, these are no big deal, just issues, same as any other occupation.
     
  5. Best to not talk about your job (trading) unless someone specifically ask you how's trading going or what do you do for a living.

    It doesn't matter if it's a stranger, relative or friend.

    Yet, if you need to vent...find a drinking pal that's cool whenever you two hang out and vent over a few beers or wine

    Mark
     
  6. From my experience, normal people that are not too familiar with the financial markets always assume that traders make lots of money.

    They think all traders are profitable overall.

    They also ask funny things like "How could you lose money if its a bull market?" or "How are you making money in a bear market."

    They also think that if A happens, then B will happen too. It's complicated to explain the markets to them and the effect of psychology.

    It's bes to say I work with the stock market or futures and end it there.
     
  7. Occasionally it interferes a bit e.g. if I have some work to do and my friends want to go out, or if the markets are going apeshit like last autumn.

    It's "difficult" to discuss because most people have no clue about it. It doesn't dwarf other issues.
     
  8. monty09

    monty09

    All my family knows I am a trader and have no clue what that means. Only that I work a lot and sleep when I am not working. They also know not to ask me about it. I have been saying its "SHIT" for 5 years now.

    My inlaws know I am a trader and think I am a crook but a decent one since I got their baby girl (my wife) a nice house and a BMW, so guess it's okay then.

    My friends have no clue and think I am a stock broker for ML or something. I dont mind since it saves me from trying to explain to them.

    Overall, I am the happiest cat around
     
  9. I gave up on giving people specifics, I just tell them I follow the stock market (actually trade fx futures). Gives them something they can quickly understand, sterotype me and be comfortable in my presence.
     
  10. lol. Try telling them your unemployed and see how well that goes over with'em. Hell in these times, they'll probably give you sympathy.
    :cool:
     
    #10     Jun 24, 2009