The Daytrader Stigma

Discussion in 'Psychology' started by Corso482, Oct 21, 2002.

  1. From what I hear, trading is all about psychology. Given that, how do you guys deal with being in a profession that most assume guarantees your failure by its very nature. I'd say 99% of academia, the media, and the general public think it's impossible to make money as a daytrader, and all who try will eventually go broke. How do you deal with that look people must give you when you say you're a daytrader? How do you deal with your parents thinking you've entered into a career akin to jumping off a cliff? How do you get through a drawdown period when everyone around you thinks that the inevitable is happening-- you're going broke like they always knew you would. How do you deal with the daytrader stigma?
    lawrence-lugar likes this.
  2. Well I do not read or listen to any media dealing with the financial markets...

    I only keep ignorant and un-educated people around me...

    When asked how I make a living I tell them I sell Sanford & Sons memorabilia (thnx Dark)...

    Seriously though, at the end of the day it is just me and my P&L and there is no better "psychological boost" then a consistently rising equity curve...
    marketsurfer likes this.
  3. Reality is where you find it. The trader's esoteric reality is the perception of others introspection. The autistic observer's reality is firmly believing in what they know the least about and trying to convince you of the same.
  4. trader solipsism?
  5. That I "design and implement derivative and equity systems." He was very impressed and told me how interesting he thought that sounded. He wondered how I got started. I told him that I got interested in the markets during the "daytrading era." He proceeded to make fun of daytraders never realizing that the two descriptions amounted to the same thing.....

    It's all a question of perception.
  6. I let my hair and beard grow out real long to where I look like a cross between Willie Nelson, Carrot top, and that John Walker Lynd fellow that was over yonder playing cave army games.
    People don't ask me much anymore :p :D :cool:
  7. What is it... 9 out of 10 small businesses fail within their first year? I told my dad that, and he's had his own business for 20+ years now. I asked him what he thought about that statistic. He said that people don't put enough effort, and that is why most fail.

    I'm in the military right now, and I've told this to some other guy's that's been in the military 20+ years. Their response were, "See, it's too risky to go on your own," "It's like gambling," "You can't do that," etc.

    I guess it's all about perception. Such as, Is the cup half full or half empty?

    KaizenTrader likes this.
  8. :D
  9. Easy, just prove all the naysayers wrong.
  10. unfortunately, the media has malaigned "day trader" as a legitimate profession in most of the public. the e- brokerage houses ( fill in blank) have not helped in this perception via their marketing/advertising. trading was once thought as a noble profession . i personally don't care what people think, but its always fun to say, when someone asks what you do-----


    #10     Oct 22, 2002
    KaizenTrader likes this.