Do Traders have a high alcoholic Rate?

Quote from oil_trader:

when I lived in Chicago and talked to locals the word was
the CBOT ethnic mix was mainly
Irish
Jews
Italians

so was their addiction to substances defined based on cultural/ethnic lines.
Jews seldom get drunk but LOVED coke, pot etc
Irish drink like fish
and the Italians did BOTH and more :)
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i grew up in jewish neighboorhood, jews hardly do any drugs at all in comparison to the general population, thats BS, i live in chicago, and party here all the time.

also, who the fuck does coke and DOSENT drink...
 
Quote from Mike805:

Ummm.. firstly, stress comes in all forms and from all aspects of life. I would think a divorce or a family problem is much more difficult to cope with in terms of stress than a monetary loss - well, maybe not if the family problems are a result of trading losses, is it possible that the trading profession sees this type of familial scenario more often than other professions?

Secondly, I don't equate trading with stress, I would think it is more akin to anxiety. Stress is physiological and can actually bolster performance in many cases. Anxiety is what I feel when in a loser, cut the loser and the problem is solved.

With the above in mind, stress and/or anxiety doesn't necessarily lead to alcoholism. While I'll venture to say that alcoholism may cause greater stress because it is a proven depressant (a hangover is a chemical imbalance of seratonin thus causing a mild form of depression), I think some people just plain enjoy drinking a good beer if not several - I sure do.

In general, I think this topic is trite. People from all walks of life have been consuming alcohol for thousands of years. A better statistic would involve simple lifestyle choices - smoking, eating, excersize and the prevelance of heart disease (the #1 cause of death in the US). Alcohol is one small piece of the picture. Do traders have lesser health and a higher statistic of stress related diseases would be an interesting study.
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whether or not a family problem is more stressful that a monetary problem is highly subjective, and depends almost TOTALY on the individual, thats an over generalized blanket statement.
 
Quote from plutocrat:

whether or not a family problem is more stressful that a monetary problem is highly subjective, and depends almost TOTALY on the individual, thats an over generalized blanket statement.
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You're right. My first sentence is that stress comes from all aspects of life.

I offered an opinion based on my personal experiences with family issues. For me, the types of stress in trading do not compare to what problems friends/family have hit me with.

I am biased becuase I am somewhat of an introvert and tend to believe that most interpersonal relationships are usually too messy and dramatic to deal with.

Mike
 
I would like to ask about the percent of highly successful
traders or people in general who somehow try ruin their lives
by smoking packs a day of cigs or smoking pot
or doing worse stuff ( drugs ) , besides drinking.

also the rate of divorcees for "traders" vs non trading population
or vs people in their income
bracket

:eek:
 
JS,

Just out of curiosity, what bar near the CBOT where you at? I'm currently clerking in the bond options pits and our traders usually go to the Cactus and Alcock's. Heard back in the day there used to be another place called Exelisir or something. The bars near the CBOT used to be a lot more packed when the bond futures pits where still alive (they're drying out now because of the screen). Back in the heyday, at 2:00pm, there'd be like over 1500+ traders/brokers/staff come out from the financial side (the 10 and 30yrs held like 500-600 guys each).

It's been my experience that I see more brokers/traders from the financials than from the grains....though we do get out a little later. The financials traders seem to be a bit more intense and generally younger and wealthier than the grains guys, so that might be why they're more willing drop phat bank on booz.

I wonder how some of the guys you mention start drinking by 9-10AM. Do they step off the floor to have a drink? I haven't seen it; grains don't start til 9:30, but I guess most of the those guys are there before. If if the bonds guys have a good day, the earliest they probably leave is around noonish.

Just my 2 bits...
 
There are tons of prop trading groups in the CBOT upstairs that trade the schatz/bobl/bund which are traded only on the screen on Eurex. Some of these guys are drinking in Ceres (bottom floor of CBOT) very early some days when the grain guys are having breakfast (because they have bankers hours and don't start until 930am).
 
Quote from mcurto:

There are tons of prop trading groups in the CBOT upstairs that trade the schatz/bobl/bund which are traded only on the screen on Eurex. Some of these guys are drinking in Ceres (bottom floor of CBOT) very early some days when the grain guys are having breakfast (because they have bankers hours and don't start until 930am).
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MCurto,

Very true. I usually come in from the CBOE where my firm's offices are, and as such, don't walk past Ceres all too often, which is closer to jackson, but you can see the outdoor patio from under the bridge. But I have seen crowds there early in the morning, which I figured were the guys trading upstairs. I'm actually trying to get off the floor and move to the screen; maybe I such hang out at Ceres a little more and start chatting it up with those guys.

BTW, is there any money to be made in trading that German stuff?
 
Do Traders have a high alcoholic Rate?
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I know I do. (*hic*) No seriously, traders don't have a high rate, it's just that I skew the bell curve for all of us.

And how are you supposed to get inside information if you're not down at the trader's bar socializing with your buddies?
 
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