When someone asks me ANY question that isn't welcome, I always say "I'll get back to you" For example when my sister got divorced there were a lot of crockodile tears from losers. Whenever they asked about her you know what I said. Its a semi-polite way to tell them to get lost. Day traders have a bad name because of guys like Mark Barton who went postal and killed people. I was at a social gathering and a dentist loudly asked me if I was a daytrader, (he knew I was) I just said "I'll get back to you on that". His tail then went between his legs and I gave condonlences to his wife for being married to a loser. If I do want to answer the question I say I'm an equities trader.
That is very true as well about the guy who went off the deep end and started killing people. Does not help the publics image of day traders.
When my hair was convincingly short, I used to say Minuteman launch control officer. Folks got real, real quiet.
I always say I'm a Financial Proctologist. I inform them that my job is to wait for them to put money in the market and then I shove my hand up their butt.
yeah, I think that has a lot to do with it. But I remember before Barton went on a kill spree , "daytrader" wasn't such a bad term. But after that event, its currency went down signficantly. And people associated that with gambling addiction, people losing their life savings as well as their minds and lives. It's unfortunate that he has to be a "daytrader". If he was "investor" and did that then maybe daytraders wouldn't have such a bad rep. hehe. PLUS, the BIGGEST misconception the public has is that trading is gambling. They think it's the same. It's NOT! And they think it's all "luck" that one wins. They know nothing about odds, having an "edge" , discipline, cutting losses, letting winners run, psychology. There's a WHOLE LOT that goes into trading. But in the end, who gives a fuck? You should do what you are HAPPY with not what OTHER people are happy. But sadly enough, most people are social creatures and like to conform. Look at fashion trends.
I have a friend who says he is a fund manager (ahem, a very small fund) I tell people the truth, I'm a doorman. Then if they find out I also trade, they figure I'm trying to improve myself. Daytrading is not the bottom rung by a long shot. I like daliddleguys idea of saying: "I'll get back to you." Depending on the IQ it could take between 5 and 50 seconds for them to figure out that you just told them to F.O.
I have asked traders, "If someone asked you what you do for a living, what do you tell them." Most of the responses are different, they really do not know what title they should give it. I would tell people I am an equity trader. I now tell friends I am a futures trader.
this is too funny...I remember this same exact topic about 2 months ago because so many people had negative reactions when they told others they were traders...Either people looked at them with complete skepticism or simply asked questions like "how can you possibly make money in a down market?" or "that is so risky, why don't you look for something else to do?" or "I knew a guy who did such and such...."... I suggested at that time, the best thing to tell others, and I really believe this is to either say you sell insurance, or that you are a computer consultant...Both of these are so cut and dry that it will shut people up and stop the skepticism and the feeling that either you really piss them off because they have the impression that you make "easy money" and do not "work for a living" or, at the other extreme, that you are a complete liar because THEY think they KNOW that no one can make money in a down market... I seriously avoid the trader thing...Not ashamed of trading by any means, but the fact that many, many people just do not get it is not worth the effort and the defensiveness required to explain the intricacies of speculating for a living...
Yeah heres one I have used.... I was asked what I do by a friends 'fundamentalist' dad...who is an I banker.....anyways I told him Im a prop. day trader....and he went on about how its bullshit and blah blah blah to the rest of the dinner table at a rather nice restaurant were eatinf dinner at. So, knowing that he had lost a shitload on paper from certain tech IPO his firm launched, I asked him in front of everyone how that loss was going for him. I then informed all how much I made on it.....he got flustered and went on about shorting stocks, and the uptick....and generally babbled while he got pissed off...in front of the entire dinner table too! So I explained to everyone (generally uneducated with trading) what a bullet was and how shorting works...... and then I ordered him this bottle of 1988 Grof, and told the table that I hope he felt better that he was getting something for the money I had taken from him on that particular stock. And Id do it again....