Do you keep your profits a secret?

Discussion in 'Psychology' started by morreo, Oct 6, 2008.

  1. morreo


    I'm not sure how many of you people have this problem, but do you keep your profits a secret from those who you know (family, friends, peers)?

    I'm an extreme extrovert and just recently have been making ridiculous amounts of money, but I don't want to tell anyone. Yet, at the same time, I want to tell everyone I know.

    I usually don't stress about anything at all. In fact, I feel that is a huge reason why I can trade well, but this is extremely stressful. If you do keep it secret, how do you do it? Do you even tell people you trade for a living?
  2. Keep your trap shut. Few will relish in your success.. most will at least subconsciously resent.
  3. I agree. Being profitable and having a good day have to be satisfying on their own merit for you. No one likes a bragger.

    I got funny looks from some friends when I had a good day and the market was down. I did a little bragging and here's how it went:

    "Damn I made a bunch of money in the market today."
    "How'd you do that? The DOW was down 200 points."
    "I was short all day!"
    "Oh, you're one of THEM."
  4. of course, keep it secret.

    if you just landed a new job that paid $300k per year with 50k signing bonus, are you gonna run around and tell your friends and family how much you're making?

    a lot of people are losing money in these markets , or worse, losing their jobs. keep your success to yourself.
  5. gimp570


    as soon as i start bragging...

    thats when my trading goes to hell
  6. Never tell.
  7. Handle123


    Keep it to yourself.

    Especially if you made profits when the markets are going down,
    cause anyone who has retirement accounts in stocks are taking a beating.

    Most people resent others who are not in the same boat as they are.
    beginner66 likes this.
  8. candles


  9. x3 :D

    At the CBOT talking about market winnings was considered bad form. So you'd hear a lot of conversations like this:

    Hey Bob, hows it goin?

    "Like shit. Did you see that fucked up shit after the Fed minutes. I dropped a half mil. This place sux."

    A while later you run into Bob's best friend.

    Hey Chuck, I was talking to Bob and he told me about his blow up after the Fed announcement.

    "Yea he got clipped a bit. What he didn't tell you is he's still up 600k for the month." :eek:
  10. I don't tell people I just meet or acquaintances what I do. It was only a year and a half ago that I was bringing in only a little over $45k a year as a teacher.
    Which is a ridiculous salary now that I think about it but lots of people survive on that.

    I discuss profits with those living under the same roof (my wife) or my parents. Close friends have a good idea but I have always had an open door policy with them. I offer to teach them anytime and only one has shown interest so far but not taken me up on it.
    #10     Oct 6, 2008