Although there is nothing wrong with full-time trading, full-time traders still get some funny looks when they reveal they trade for a living. Some reasons can be; - this person is still so young. Why doesn't he get a proper job? Socially useless activity making money from the buying and selling of others. (Not trolling, but this is true) This usually come from strangers or distant acquaintance. - can you make it? Don't come borrowing money from me. This can come from friends. - are you sure you can make it? I am worried for you. This come from well-meaning family and close friends. It is socially embarrassing to reveal that one is trading for a living. How do elite traders here cope with this?
Right. It's kind of like revealing, "I'm in real estate". (Average person with a RE sales license makes like $6K/yr.) If you've made $Millions as a market trader, you shouldn't need to reveal anything... nor should you. (Recall a recent Jeopardy show... where the defending champion, a "writer", had won $120,000 over the last 5 days...good on him for that. Alex Trebek asked him if that was "more money than he'd made in his entire career as a writer"? The guy responded, "yes, waaayyyy more". Who would want to reveal THAT to the world?)
It's only embarrassing if you say you're a trader, but don't make money Other than that, I see no reason to feel ashamed to say you trade for a living -- infact, it's the opposite...I'd be more boastful...u are virtually doing nothing...while they slave away at a 'real' job. You are basically a magician, or God~, to them...if you can successfully extract money from the market. (Not many people can make that claim.)
The ego is the source of all drama, who cares what someone else thinks. If you are losing money, you probably feel like a piece of crap and what your doing isn't justified. If you are making money, you should have no shame. Every time I get a haircut the lady asks what I do for a living and I just tell it like it is. Most don't even know what the hell commodity or currency trading is so I just explain it in the simplest form possible. I make money off of the price movements in the products I trade. If they ask if there is good money in it i just reply that "it pays the bills". I might have made 10k that day or I might have lost an equal amount , but I don't want to come off as an asshole or gambler so I just say "it pays the bills" Never really ran into any problems with that approach. If you are still losing and in the learning phase, just state that you are focusing your time and attention on learning the business. No shame in that.
PIP Phone caller ( we get 3 per day, every damn day in the UK, even freak a local number to get you to answer, madness! )
I never feel awkward about it. In fact, I kind of enjoy making them feel awkward about it. I've noticed I look them in the eye when I tell them and then I always look away briefly. When I then look back at them I read their eyes to find signals of intrigue. No signal... it ends. If intrigue...I wait for that first question. Most of the time the signal is confusion and they don't ask...I'm fine with that. If I talk about it I keep it vague, and if I do make them feel awkward it's because I feel sorry for the 9 to 5 people and the 80 hour a week high income professional!
9 to 5, kill me, haven't done that in nearly 20years I think, self employed Hitman, full time wage very few hours! The 80 hour would be okay, IF your pretty sure to walk away setup for life then chilling on a beach somewhere, just having fun!