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

fatrat,

You will win, use what emotional dislike your parents have of your dreams and funnel it as motivation to make yourself the #1 trader you can be. <b>Nobody holds back the man</b>.

Theres nothing you can not do when you put your mind to it. Everybody else , no matter for you or against you, will just motivate you even more to impress from success.

You will win.
 
Quote from eusdaiki:

Well...
This really sounds like my scenario... and reading this thread has really made me feel a whole lot better


Now seriously. I didn't get much support from my family when I decided to go into trading... not even from my uncle who happens to be a rich lawyer/real state investor... his thinking was 'how can you quit a job where you have a warrantied income for something that may or may not get you more money?'

I still dont get much support. Even though I have been profitable, whenever i hit a slump I know I got pressure coming my way... the bad part is that the harder i feel the pressure the harder it gets to beat the slump.

Good thing is... since Im trading at a firm, they assume losses.. bad thing is they also take most profits... but hey I aint got any money so if I was trading on my capital my profits would be = 0. So I'm getting much heat at my place when after being profitable one month [my sixth month, took in a 500$ check... 10% of 5000$] I go in a slump and I cant pay y tuition... not good though i really dont care, I'll go back to school...

I need the kind of job that they can't teach in college. I need to do something that I love doing. I need to trade.

I somehow knew that years before I got the chance to trade... when I switched out of computer engenieering I wanted to work with stock market, on very short timeframes... I didnt even know what it was called but I wanted to daytrade so I took a mayor in economics and a second mayor in finances to put myself on the right path... and well when I saw the chance to work for a prop firm [the first prop firm ever to open in costa rica] I jumped on it, I started the same day the company did... we didn't even had chairs the first couple of days... I covered my expenses for the next six months and told the guys at the book to shove the job up their...

So my family was quite doubfull about this job where I wasnt making any money, I couldn't say that anyone else was making money [ I was the advance class]... and I couldn't guarranty that I'll make any money in the near future. I only knew that I was going to be a part of that 5 percent that make it.

Why? cause I belive that if you do something everyday 7 1/2 hours a day... eventually you become very good at it, and I also believe that my life isn't a simple coincidence.
I'm a man of faith, and I belive that every event in my life serves a pourpose, because there's someone behind those events an arquitect, God [aka Jesus]. Do I belive that God is going to make me a great trader, not likely. Do i belive that God has given me what it takes to excell at what I do, yes. Do I belive that it was God that put me in this path years before I had the chance to trade for the first time, yes. So I believe that Im going to be around this bussiness for a while, no matter how unlikely that may seem today.
More...
=====================

EUSda-trader;

Good post & frankly enjoyed reading it.

And while I like to see people study/trade;
1] Remember Mr. M Marcus/Schwager invested in real estate/trades.
2] Remember Mr. Mark Cook has farm land/trades options

3]Without getting too heavy handed, starting to see a pattern here of diversified income!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

4-more]My elder brother , who has always had a mean streak,
SCREAMED AT ME ONE DAY WHEN I WAS A YOUTH/YOUNGER ,
GET MOVING FASTER YOU !##%%! TURTLE !!!!!!!!!!

5]Hated that nickname ''turtle''until I studied Jack Schwager;
laugh last/laughs best. Will stop a woods walk to simply observe a BOX turtle move .What a creative creation.
:D

5.8]Especialy if a wife, Dad, Mom, wants to have some diversified income;
may want to reread point #[1].Good Pattern

5.88]Besides , would consider anything less than about 12 hours a day, 72 hours a week part time.[part time work=part time income]
.Of course fishing& hunting for gamebirds would be considered work to me also,;
fun work.

Wisdom is profitable to direct.:cool:
 
Quote from murray t turtle:

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

EUSda-trader;

Good post & frankly enjoyed reading it.

And while I like to see people study/trade;
1] Remember Mr. M Marcus/Schwager invested in real estate/trades.
2] Remember Mark Cook has farm land/trades options

3]Without getting too heavy handed, starting to see a pattern here of diversified income!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

4-more]My elder brother , who has always had a mean streak,
SCREAMED AT ME ONE DAY WHEN I WAS A YOUTH/YOUNGER ,
GET MOVING FASTER YOU !##%%! TURTLE !!!!!!!!!!

5]Hated that nickname ''turtle''until I stiuied Jack Schwager;
laugh last/laughs best.


:D

5.8]Especialy if a wife, Dad, Mom, wants to have some diversified income, may want to reread point #[1].Good Pattern

5.88]Besides , would consider anything less than 12 hous a day, 72 hours a week part time
.Of course fishing& hunting for gamebirds would be considered work to me also,;
fun work.

Wisdom is profitable to direct.:cool:
More...
Thnx for the advice.

I don't think I've ever worked a 72 hour week... should give it a try at some point...
diversified income... sounds interesting... I'll give it a try soon enough.

EUSda-trader? that gave me a couple of laughs... good one.
 
dad always said "dont quit you day job". I have to say he was right. I did quit my day job to start a healthcare recruiting firm...mistake. I now have a day job...Bond trader at an IDB, and it allows me to also stay in front of a $1400/month bloomberg which i dont have to pay for...and enter swing positions ...only takes a second. I can program the stop losses and do the math at night or before work.

It is the ultimate hedge. If i am wrong....and i lose it all...i still have money, bills paid, a family that doesnt think i am crazy (actually they now think i am very responsible and my dad had to talk me into taking his money...i didnt want to).

Think about what is the worst thing that can happen in any given scenario... If you arent one of the 15% who can make a living at doing it (note the odds are against you) day in and day out, you dont have a resume gap, and you can pay bills.

not that i want to be in your business...but dont forget to hedge life...have a plan b.
 
Update, I talk to my uncle again on saturday... he now thinks of trading as an expensive hobby and he suggested I get a real job to pay the bills... kind of the same hedging your life idea.
 
i have question, my family especially my dad has always been very supportive. He was so supportive he wanted me to start trading in college, he said it would be the best education i ever had. He was right on the money.

So what makes the difference in who is supportive and who is not?

My parents are self employed and have taken huge risks and my dad even got smacked with a million dollar loss from a cattle fraud deal that a guy screwed him in. He has invested and started several businesses. Obviously you would assume from those facts that he would be supportive.

My wives family was always a dual income family and lived in an average sized house in an average sized town. They never really had a whole lot as far as finances even though they both had good jobs, (never could figure that out). They to were always very supportive, to my face at least :-)

So both sides are supportive for me even though you would think that the ladder would not be. But i guess what can they say, their daughter has never worked since she said i do.

So what makes the difference?

Pierson
 
Well, you damn sure ain't an English major. You are very lucky to have all that positive energy around you, most people run on fear. Fear is imposed, learned and becomes habitual. I am a product of enormous multi level fear and had to work my way out of it.
It is sometimes very difficult for a parent to recognize that a child not only has developed to know more than the parent does but is also closer to the pulse of the moment of the real word. The parent's own dissappointments and failures are imposed on judgements re: the child. I have a friend who is 60, he was my fathers's friend and I've known him for 40 yrs, he was a stratagist with Rand and is my mentor for world macro views. His wife died of cancer several yrs ago, his parents are in their 80's and both very sharp. He is marrying again, a wonderful 60 yr old woman, bright , energentic, who lost her husband to cancer, that I introduced him to. I'm having a glass of wine in the kitchen with his parents and they say to me, " does he know what he's doing, is she right for him? I reassured them and went outside and lmao. It never ends.
 
Your always the kid to your parents...no matter how old you get...

Thats why I wrote you will never win....

banjo thanks for the story :)

but coolweb, thinks you want to be proving to your parents for the rest of your life that you can win. don't trap yourself...just give up and then you will really win...
 
I break people into two categories, with/without vision. If you have vision you might as well learn to shut up and do what you are going to do because the people that don't have it will do nothing but detract from your efforts. I have always been amazed by the obvious windfalls about to happen and how nobody responds. I lived in an area that had great weather, a tough police force, friendly place really, lots and lots of beautiful land for building, all it needed was for the freeway to go through, it was obvious to me. The housing prices did not budge until AFTER the ribbon cutting, and then it was MONTHS after the ribbon cutting despite all the news updates about the freeway and how it was on schedule and the obvious fact that you could go look at the construction and see how it was going for yourself.
 
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