So I said to myself, "self....". I call myself a stock trader. When they ask if I have a license to do that I tell them "hell no, it's basically unregulated, even the communists would not dare wade in where there was that much money washing around every day". Then when they give me a hot tip I tell them "I never act on nor give out tips, I only invest after due diligence, and it is a lot of work" then I go trade the hot tip and never tell them, otherwise they will want a piece of the profits. Then when they ask me if it isn't unfair that I can make a living without producing anything I say to them "I tried producing things, it was really hard, you have to produce really good things that people want and you have to get it right or they get pissed off at you. Then they expect you to just make a living at it and never get rich to boot." Then when they ask me how do I sleep at night I tell them "I trade the Forex, you should try it, we need the liquidity". Image is everything. Max
I just started doing that myself. You're absolutely right Ditch. It cuts out lots of the stupid questions.
To most people I talk to, I don't tell them anything. I try my best to keep my trading life a secret. As far as I'm concerned, it's not anybody's business what I do. If I slip-up and talk about the market, I might simply say that I trade stock, and try to change the subject as soon as possible. The majority of the people that work daily jobs don't have the money or the time to trade, and to start talking about buying and selling stock only makes you look like you're bragging. I think you can lose friends that way so, I don't do it.
Gambler... hrrmmm... Subjectively, it's not really gambling... it's a business... you trade (well, if you're good) based on sound edge or plan... Objectively, yes you're taking risk for money.... I'm 1/2 and 1/2 with calling "traders" = Gamblers.
I agree with you WD. Only, IMHO trading is not gambling at all. It is simply investing on a shorter time frame. If you take the same amount of money and buy real estate and then flip it, nobody would even consider calling you a gambler. In either case you can lose money or you can make money. Thus, it is simply investing. If you trade well, you will manage your risk as any good investor would do; but throwing your money at something without having a clue and hoping to get lucky is no more than rolling the dice.
It seems to me that you just described what professional blackjack players do. OTOH, those ain't gamblers either. OK, how about market punter instead of gambler?
Although I know where you're coming from, all of you quibbling about this term "gambler" should maybe don't take this all too literally. Perhaps you missed where Phantom Trader's post was coming from and it's always good to at least occasionally to be able to step outside of and act outside of the usual conventions that people operate under and the way they frame their universe and expand their minds a bit. Or just make it work for them and for you by addressing them where they're coming from. P.S. As an aside, I'm not sure where Phantom Trader is coming from. Seems to slip in and out of the physical plane we call reality.
Yeah, I know what you mean. Public's view of "traders" are just like gamblers. They think you're just a adrenaline driven capitalist who "lives on the fast lane". Security is one of human's desires and the public image is just against it. Generarally, it's hard to find a "name" that fits your own view and public view for any kind of business. If you're a Karate Teacher, most people look at you as a violent person or someone promoting violence, not looking at the art and discipline of it. If you're a doctor, people look at you as a nice and rich person who helps people, that public view kills their personality by "have to be" nice, successful and "happy". Come to think of it, I think 95% of public's perspective is usually wrong.