Anyone ever try to explain their trading career choice to family?

dagobaz · Nov 11, 2005

it was the toast of the Marquis of Montrose: "He either fears his fate too much; else his deserts are small; who will not put it to the touch; to win or lose it all"

the essence of trading is risk. if you will not dream big ...

what hope is there for you to succeed ?

murray t turtle · Nov 12, 2005

Quote from fatrat:

I'm basically a software engineer who left Silicon Valley to trade. I've recovered most of my losses, and I'm on track to becoming profitable. The income isn't quite there yet, but it's enough that I don't bother with part-time jobs anymore. I live on savings, and I expect trading to cover 1/3 to 2/3s of my expenses by around February/March, given current performance.

However, everytime I explain my progress to family, they keep pushing for me to go back to real jobs. No conversation happens where some reference to getting a real job with a salary doesn't take place.

Anyone else ever encounter this fierce resistance to career choice? What gives? Do I just dimiss family and tell them off, or what? It is not easy to explain that losses are a part of this game, that losing is part of the equation, and that it takes losses to learn and test new strategies.

Should I just give up hope trying to convince these people that it is a good career path, and just trudge onwards?

Surely, I am not the only one?

===============

First of all 80% 0f businesses fail, trading maybe more . maybe less than that;
I am talking about swing /position trading, managing money....

Day trading maybe 5% or less make it;
bear markets are tougher , but a bit more fun when short.

Last but not least like that elite trader said would want parental blessing.

But since I am over 21

, fortunately even though my Dad was actually some what negative on my own business for years;
BUT TOLD ME HE RESPECTED MY DECISION.

Bless dad/mom; Dad later admitted he as banker, loved banking , but wished he had his own business, like me!!!!!!!

Especially since I am not cut out to work for someone else;
ran home office business for 30 years plus now.Trading since JNPR was north of $200.00

I Am head of my home;
family doesnt run my life.

, most dont ''just drop by ''without appointment'', nor do I put up with negative garbage.

Wisdom is profitable to direct.

lojze · Nov 13, 2005

Quote from Banjo:

Re: the mkts. The mkts are in a very real sense gambling. The art of the game is to make it controlled gambling, if you are successful remove funds and aquire hard assets, income real estate, genuine hard assets. To people just starting I would say avoid the myth of compounding to zillions.

Banjo,

Do you really think that removing profits and investing into hard assets is the right thing?
Does anybody agree with it?

I allways thought, that the positive things at trading are so much more important, that compounding $'s is indeed the best and also quite possible thing.

ElectricSavant · Nov 13, 2005

I got an extra $400.00 on my hands...Wifey said put it in your Forex account...I am so thankful for that. If Wifey did not support me then that would matter.

When you start making money, some friends and relatives will still tell you to get a real Job. It is in their mentality. It's according to your circle and their net worth....

Most people that know me, know that I am at my best when I can do what I want. I have always been a creative left hander. Over the years most folks have just learned to leave me alone. It gets lonely.

Michael B.

coolweb · Nov 13, 2005

hi electricsavant

glad to see you back, i actually missed you and your rants

ElectricSavant · Nov 13, 2005

coolbaby...

Your still at it, I see

...good trading to you...(I mean that)

Quote from coolweb:

hi electricsavant

glad to see you back, i actually missed you and your rants

dvshucks · Nov 13, 2005

I think only certain types of people can trade, while I have too much fun trading to consider doing anything else, I couldn't recommend trading to anyone else. Its just something you have to want for yourself. For that reason, its hard to explain to some people because they'll never understand.

Before I was making money I'd be more vague about what I was doing (proprietary equities short-term personal financial engineer), now I tell people I daytrade because I'm actually confident enough in what I do that I don't care if they are going to look down on it. It took a while to get to that point.

As for my parents, my mom is never going to understand (my dad is just happy I've never asked to move back in). She would cut out newspaper clippings on how to get a corporate job and interviewing skills for quite a while. I just always tell her that I love going to work (in the spare bedroom) everyday and that I make enough to live on (regardless of how high or low that week is going). She's coming around, she no longer sends me the clippings

jficquette · Nov 13, 2005

Quote from fatrat:

I'm basically a software engineer who left Silicon Valley to trade. I've recovered most of my losses, and I'm on track to becoming profitable. The income isn't quite there yet, but it's enough that I don't bother with part-time jobs anymore. I live on savings, and I expect trading to cover 1/3 to 2/3s of my expenses by around February/March, given current performance.

However, everytime I explain my progress to family, they keep pushing for me to go back to real jobs. No conversation happens where some reference to getting a real job with a salary doesn't take place.

Anyone else ever encounter this fierce resistance to career choice? What gives? Do I just dimiss family and tell them off, or what? It is not easy to explain that losses are a part of this game, that losing is part of the equation, and that it takes losses to learn and test new strategies.

Should I just give up hope trying to convince these people that it is a good career path, and just trudge onwards?

Surely, I am not the only one?

If I am the only one, ... then damn.

You have to decide what is more important, your family or your self indulgence.

Dispute over money and differences on how it is handled is the number one cause of for divorce.

You either figure out how to reconcille your personal goals with your wife's idea of stabilty or you more than likely lose her.

John

fatrat · Nov 13, 2005

Quote from jficquette:

You have to decide what is more important, your family or your self indulgence.

Dispute over money and differences on how it is handled is the number one cause of for divorce.

You either figure out how to reconcille your personal goals with your wife's idea of stabilty or you more than likely lose her.

John

Fortunately, I don't have a wife. :-)

I know better than that. 50% odds of success, and you can't cut your losses necessarily.

I just had to deal with mom and dad. Who, btw, aren't talking to me in hopes that I'll fail and snap back to my senses.

;-) I'll win.

ElectricSavant · Nov 13, 2005

no you won't. Your heart lies where your treasure is...

Quote from fatrat:

Fortunately, I don't have a wife. I know better than that. 50% odds of success, and you can't cut your losses necessarily.

I just had to deal with mom and dad. Who, btw, aren't talking to me in hopes that I'll fail and snap back to my senses.

;-) I'll win.