Do you tell people you're a trader?

[Everest]

Quote from ozzy:

Tell that to my mom. She thinks its gambling. Personally my defintion of gambling does not include trading (except maybe the one time I had 500 call contracts on a stock ) This is an occupation nothing more nothing less.

ozzy

then you need to educate her. or ignore her anyway

 

[domi93]

The failure rate for a restaurant owner is 90% in 4 years
the same 4 any business...

in this business (trading) at least we have a better rate..
still dangerous, but society love those Myth (that's why socialists still alive today)
trading is like any other business.. you have to work
hard, dicipline and long hours, but at least
you dont have to mess with employers, inventories
marketing etc etc etc.. i started to make big money once I discover what HEDGE really means.. took me 9 years and a lot pain, but Im very happy today.

 

[flat5]

Quote from omcate:

Yes. Most of my friends and family think that

TRADER == GAMBLER

That's because trading IS gambling, silly.

 

[flat5]

Quote from ozzy:

Tell that to my mom. She thinks its gambling. Personally my defintion of gambling does not include trading (except maybe the one time I had 500 call contracts on a stock ) This is an occupation nothing more nothing less.

ozzy

And professional gambling is not an occupation?

This board is hilarious. Folks, trading is gambling. The level of denial you folks show over this absolutely irrefutable fact is alarming.

 

[jaronimo]

Quote from domi93:

The failure rate for a restaurant owner is 90% in 4 years
the same 4 any business...




Thats an excellent point. But people still say most traders lose. I dont remember ever hearing someone say "don't start a restaurant, they have a 90% failure rate". I usually hear "really, what kind of food will you serve".

 

[flat5]

Quote from ozzy:

This is an interesting question and the "what do you do" question does come up quite often. Yes, people do look down on trading (I'm not sure why?).

Because it isn't productive. It's a way to take money from somebody else's pocket and put it in yours, but accomplish nothing in the process, much like shuffling cards around on a table in a poker game.

People have more respect for people who earn their money by producing something in an exchange that is not zero sum.

I think that's the root of it, and it's not particularly irrational.

 

[Thunderdog]

Quote from flat5:

Folks, trading is gambling.

You can draw a parallel between gambling and virtually any form of business activity where you have invested money and the outcome is uncertain. Retail, wholesale, manufacturing, service...take your pick. You can then choose to call it business risk or gambling. How well prepared you are for your chosen undertaking may help you decide where you fall on the business risk/gambling continuum.

 

[flat5]

Quote from Thunderdog:

You can draw a parallel between gambling and virtually any form of business activity where you have invested money and the outcome is uncertain. Retail, wholesale, manufacturing, service...take your pick. You can then choose to call it business risk or gambling. How well prepared you are for your chosen undertaking may help you decide where you fall on the business risk/gambling continuum.

Agree.

However, I don't think you can reasonably call trading a "business" because there is no product or service being rendered.

 

[SWScapital]

Quote from flat5:

Agree.

However, I don't think you can reasonably call trading a "business" because there is no product or service being rendered.

Your right. Trading is most certainly gambling.
Your wrong. If I trade managed accounts the service my trading renders is a superior return to an index fund. Hopefully anyway.

 

[Thunderdog]

Quote from flat5:

...I don't think you can reasonably call trading a "business" because there is no product or service being rendered.

I do not agree. However, that is a matter of opinion, and beyond the scope of my initial observation to your post.