New here...I've been lurking and trying to learn trading again now that I'll have time. I think my regular business will slow down due to taxes? and fear of the new administration, hopefully won't be that bad tho. Just a quick question for anyone who can help me. My wife is 47, beautiful and smart. But we fight all the time about trading - I just can't convince her that it is worthwhile. She thinks there is too much risk. Any advice?
If you are fighting over it now imagine how it will get when you take some heavy losses which is likely when you learning. Better to be on the same team or just divorce her
Choose now. Your trading or your wife. *** Edit: If she's starting in already, you most likely can't have both. If your relationship is important to you, keep trading a light hobby and pursue more "stable" types of making a living, while the trading is just something that you do on the side (like golf, or classic cars, LOL). If the relationship isn't that important to you (not the impression I get, btw) tell her she needs to stop her bitching and start supporting her man. P.S. I'm sorry that you're pussy whipped.
You can always buy a new wife with all the money you'll have from trading. Just look at it as an upgrade.
What do you understand about money management and it's role in a trader's survival? What is expectancy? What gives you the confidence that your expectancy is +ive? Has your strategy proven itself to you in simulated mode? What prevents you from trading using a simulator first? What prevents you from trading part-time first? Trading need not automatically mean intraday trading. Also, read the addicted/divorced/suicide posts on ET first. May your brain be with you while you take this decision.
its quite simple actually. Set aside some money that you and your wife can agree on that wont hurt your lives if lost. Trade with small size untill you learn a style that works...or better yet, paper trade untill you're confident enough to trade real money.
Easy. Learn MMA takedowns and submissions as fighting wives need to know who is boss. I am quite accomplished now and can get mine silenced and agreeable inside 30 seconds, although sometimes I have to wait for her to come round if it's the old rear naked choke. Another one that works great alongside that is, paper trade and show her the paper profits to seduce her. Be nice and do it over a nice wine to chill her out. Tell her how sensible it is to be cautious so what does she think about risking $1000 to prove it? If she knows it's a risk but agrees the amount, then big boy it's over to you. If you screw up you're not in another fight because it was risk capital, and if you do well she will be won over little by little. Take my advice - the rear naked choke is better than an arm or leg lock. When they are on a stick and the neighbours ask what happened I get funny looks.
If you want to be successful at trading, you really can't give a fuck about what other people think. Having said that, don't talk to her smart side, talk to her female side, it's the only side that will listen. Instead of risk, talk to her of being a modern day gladiator fighting in a colloseum, instead of strategy talk to her of being a general crafting massive war plans. Tell her how it makes you feel, create amazing descriptive stories about them where you are the hero, and then bang her brains out. NOT kidding. At this point open a small account without asking with YOUR money and trade small, like tiny small for a year or until you're consistent. Don't expect to make money. Don't quit your day job. Don't try to hide it. When her 'smarts' discover what you did, remind her why (see above). Women are easy, your real problem will be the market. Good luck.