If you quote some of Alan Greenspan's economic outlook speeches, you will for sure lose them very quickly.
Once when I was 18, I found this book on day trading in the investment section at books-a-million. Not knowing what trading was, I sat down with the book, and it just took me all in. I was hooked, so I brought the book home to show to my parents about my new found meaning in life. Needless to say they weren't too pleased, and said I was going to "Gamble away my money". That was 5 years ago, and I'm still here. kon
"I know you believe you understand what you think I said, but I am not sure you realize that what you heard is not what I meant" â Alan Greenspan "If I have made myself clear then you have misunderstood me" â Alan Greenspan
Well I'm asking this because my main problem is they keep raining questions on me. and it really pisses me off when they say 'i should do this'. Civilians all think that trading = buy a stock that is popular, like apple,google, etc cross your fingers and hope it goes up. its almost an insult to just jump to the conclusion of 'i should do this'.. Now, when I'm asked 'what do you do', I say 'I buy equities, bonds, t-bills, and exchange traded funds.' That gives them a perplexed look like 'wtf did he just say', and to try and appear like they are not stupid they dont ask 'what is that'. convo done. my advice, never mention the word 'stocks'
I love your use of the term "civilians." People want to be told what to do, basically. And they don't want to plan for contingencies. It is just all the ills of our lazy, overly optimistic, somebody-else-will fix-it society, writ large. As for Greenspan speeches, you have reminded me of something wonderful. If you have not read David Denby's "American Sucker," which is a great summer beach or poolside read, at the very least check out the description in that book of Greenspan's speeches. Something about his big words clanging into each other like boxcars, and many other amusing adjectives. It is truly one of the most hilarious paragraphs I have ever read.
We should be honest. If someone asks me I would tell the truth. If he/she wants to learn I would share what I know. I have been sharing my knowledge with people for years. When someone cares to learn that person will in turn shares the knowledge he/she acquired. I learn more when I teach someone. Last week, I spent almost 6 hours straight teaching a young man trading stocks. I take it very seriously when I teach someone. We can't just give tips. Each individual is unique. I need to know his/her profile very well before I put a plan together to help this individual.
Regardless how much you make, tell them they should be satisfied they have an income that predictably accumulates. All they need to do is show up at work and they get paid. At first glance of a trader sitting at home clicking buttons, most people would see it as an easy job and the person as a lazy. But they forget it's not a job. A job won't take your money away, and it's a hell of alot easier to show up at some peon job halfassing around and getting paid, rather than being a successful trader.