Family has negative perception about trading

Discussion in 'Psychology' started by a529612, Jul 24, 2006.

    #31     Jul 24, 2006
  2. syrre


    What does she do for a living that is so much more respectable?

    Good post by optioncoach.
    #32     Jul 24, 2006
  3. I recommend getting into the business of clubbing baby seals to death and then selling their hides on Ebay.

    After a few months, get back into trading and see if she finds it more acceptable.

    Or go into gay porn. But then you may never get back into trading :p
    #33     Jul 24, 2006
  4. romik


    LOL, that would receive a warm welcome from family members - Ma, u're right, day trading IS for losers, I wanna be a gay porn star instead, is that OK with u?...
    #34     Jul 24, 2006
  5. It is all about one's world view. I see the world broken down to two groups. There is the group that when the going gets tough look to kiss ass. And then there's the group that when the going gets tough look to kick ass. Successful traders are of the second group, they are fugitives from an ass kissing world. If you trade you will either take some money out of the market or get mugged, you cannot run in place very long. I came from a family of ass kickers who thought it was neat to be able to enter the market every day and take some money. You are looking to finesse this issue rather than confront it. You cannot take a defensive kiss ass position with your family any more than you can make money trading by playing defense. You have to be pscyhologically constructed to confront your family just as you have to be pscyhologically constructed to confront the market. If you are not strong enough to confront your family, then you are not strong enough to successfully confront the market on a daily basis. If you like to finesse, negotiate, and compromise those things which you find uncomfortable, maybe you have the skills to be a shyster, a bureaucrat, or a politician.
    #35     Jul 24, 2006
  6. You can always get your license and go prop... tell them you're a licensed broker. :D I'd bet they even offer to pony up a grubstake to be your client; a nice cover to ride YOUR (newly perceived) coat-tails.
    #36     Jul 24, 2006
  7. fh2000



    Hope you don't mind me asking. Are you a full time trader at home, or do you keep a day job also?
    #37     Jul 24, 2006
  8. You could just tell people that you're a private money manager. After all that's what trading management.

    I respect those of you that are married and are still able to trade, but I think the best situation is to be single...a hermit, isolated from society since they dont like us, and dont want us around anyway.

    #38     Jul 24, 2006
  9. There are direct corollaries to issues I have experienced with my family over quitting a lucrative career to become a professional gambler.

    1. Some people aren't wired to believe you can play/trade with an edge. Don't bother to argue with them. They will always just think you were lucky rather than smart.

    2. They will eventually leave you alone when they realize you are happy at it and making a comfortable living. My sister is a physician and I have made more $$ than her just about every year. Parents left me alone after that.

    3. Treating it like a business will give it more legitimacy. Pay taxes, contribute to a 401k or SEP, buy your own health insurance, etc.

    4. It is nice to have the approval of your family but ultimately it doesn't really matter. People who need that kind of support are not really cut out for the solitary life of trading/gambling. You have to be 100% reliant on yourself.
    #39     Jul 24, 2006
    #40     Jul 24, 2006