The Stigma of Daytrading Lives

Discussion in 'Psychology' started by Arthur Deco, Mar 13, 2010.

  1. southall

    southall

    You cant just say 'day trader' because 95% of day traders are losers.

    If your success is not obvious from your lifestyle or possessions, (you just bought a shiny new expensive car, or went on a expensive holiday).

    Therefore you have to say something like 'day trader and making a good living' (assuming you are profitable).

    Then people will ask just how profitable you are. It is best to answer by comparing to your last full time job.

    'Lets just say i make at least as much as i did when i was a xxxxx'.

    However your lifestyle does need reflect your success to some degree otherwise no one will believe you are in the top 1% who make big money (unless you show them your account statements).

    when people ask about what contribution you make to society as a day trader tell them how much taxes you pay. I got a 100K tax bill that needs to be paid later this year :(
     
    #21     Mar 17, 2010
  2. Should it really matter what other people think? Trading for your own account is one of the few occupations that allow you to prosper irrespective of the goodwill of others. That's not a small thing. It can also occasionally identify who your friends are.
     
    #22     Mar 17, 2010
  3. Dr. Deco, your prose is inspired. Keep up the good work.
     
    #23     Mar 17, 2010
  4. recently when asked what I do, I have responded that I am a "speculator"
     
    #24     Mar 17, 2010
  5. zdreg

    zdreg

    you sound young. you are a gambler.

    “When I was young, people called me a gambler. As the scale of my operations increased I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.” .
     
    #25     Mar 17, 2010
  6. You can call yourself an investment specialist, I tell people I work in market intelligence. When they ask me more info I tell them it is classified.
     
    #26     Mar 17, 2010
    zdreg likes this.
  7. The more grandiose the title, the more suspect the performance. :p
     
    #27     Mar 17, 2010
  8. Just say you are a Quantitative Financial Engineer/Analyst. Unless you trade on luck alone or by strategies you purchased, you did technical work to be successful as a trader.
     
    #28     Mar 17, 2010
  9. lindq

    lindq

    Likewise, my reply is that "I work on my investments."

    The fact that most of my investments last for a few hours is no business of theirs.
     
    #29     Mar 17, 2010
  10. Statistical Arbitrage Strategist...
     
    #30     Mar 17, 2010