Have you ever introduced yourself as an speculaor?

[Pa(b)st Prime]

Quote from nokomisjeff:

Some of the biggest older grain traders I know live in lower middle class neighborhoods, and drive 10 year old F-150's. They use coupons at the grocery store, and are very tight with a buck. However, they will still swing a line of 10 million bushels at a crack, and are probably worth a few hundred million bucks....in cash. When asked why they live so cheaply, a universal reply is that nobody outside the markets knows that they're rich, and nobody bothers them for money. Plus, they have nobody to impress, as they don't really give a damn about anything but the markets and family.

Really, who gives a damn about what you do as long as it's honest work.

Funny and true observations Jeff. My biggest trading friend fits your description to a tee. He trades wheat spreads a million bushels at a clip, drives a late 90's Accord, lives in a modest SFH on the South Side, dresses like a friggin' slob and has a net worth of at least 5-7mil.

When we all bug him about buying a more expensive car he always chimes about "lack of value".

Being frugal is a time honored CBOT tradition. Rich Dennis was worth 8 figures and still lived with his parents on the SW side out by Midway.

 

[sunggong]

Quote from eagle:

Wrong! Won the battle in the market, but lost the war in life. Trading must have two goals, winning the game and better lifestyle. Respect yourself and please compensate yourself for the good work you have done, the same way as the good employer compensate his good employees. It isn't about showing off but compensation and acknowledging when somebody had done a good job.

What are you, a little kid?

How is that guy losing the war in life by living the way he does?

Perhaps he's perfectly happy with his lifestyle.

Who cares if he doesn't give a crap about what modern, materialistic society thinks? Why should he buy things that he doesn't really care for? To show off? Yup, if you care about what other people think...then I guess...

For a lot of people, buying things that they can afford may be the way to enjoy life, but not everyone does that.

Keep an open mind.

 

[eagle]

His brain was washed out by the market philosophy into only buying something when its value will go up while car price will always lose its value. After all, he's right for not buying the depreciated assets.

Quote from Pa(b)st Prime:

When we all bug him about buying a more expensive car he always chimes about "lack of value".

 

[eagle]

Show off and care about what other people think are wrong, but just compensate what he has done, not until an extravagant lifestyle that make him embarrassed. You're right to say that perhaps he's perfectly happy with his lifestyle, but what about his dependants wife, kids... Do they all have the same point of view as him?

Quote from sunggong:

What are you, a little kid?

How is that guy losing the war in life by living the way he does?

Perhaps he's perfectly happy with his lifestyle.

Who cares if he doesn't give a crap about what modern, materialistic society thinks? Why should he buy things that he doesn't really care for? To show off? Yup, if you care about what other people think...then I guess...

For a lot of people, buying things that they can afford may be the way to enjoy life, but not everyone does that.

Keep an open mind.

 

[jnbadger]

Quote from sunggong:

What are you, a little kid?

How is that guy losing the war in life by living the way he does?

Perhaps he's perfectly happy with his lifestyle.

Who cares if he doesn't give a crap about what modern, materialistic society thinks? Why should he buy things that he doesn't really care for? To show off? Yup, if you care about what other people think...then I guess...

For a lot of people, buying things that they can afford may be the way to enjoy life, but not everyone does that.

Keep an open mind.

Agree 100%.

Sometimes not having to worry about money is all you need.

To each his own.

BTW, I just say I'm a trader. They usually ask "daytrader?"

I'll say "usually".

Sometimes the convo stops right there, other times I'll make the effort to explain how I use different strategies over different time frames.

 

[eagle]

Not worry about money is bliss. But the question here is about not to worry about the old car that can eventually go down on the road then block traffic . Well, he doesn't need a Ferrari but just a regular new car that does not pollute much to the environment.

Quote from jnbadger:

Agree 100%.

Sometimes not having to worry about money is all you need.

 

[newbunch]

I normally say I am a "speculator." With a confused look on their faces, I then get asked what I speculate in. "Financial futures." At that point, they normally faint or run away.

Among finance people, I say I am a "quant" or "quantitative analyst."

And when people say "you mean a trader?" I have to argue with them. My computer does the trading and I do long term speculation. Not much trading involved.

 

[ElCubano]

i trade half days ( sometime full days ) and play poker 5 times a week the other half of the day; but when i really feel like taking some risks i go outside and landscape with me crazy Cuban neighbor....now thats risky business...that mo-fo can be lit up like a roman candle drinking a newcastle at 8 am.....he is an old school runner living off of the hey days; catch me drift...

so in short when asked, I say I play semi pro rugby...peace

 

[50_Bip]

I usually say i am retired.. That gets alot of "say whaas" since I am under 40, but hey its the truth - I AM RETIRED from working for someone else, and I will be OK if I never earn another penny in my life.

 

[Port1385]

Just say that you are currently unemployed and just sit on the computer all day back at your residence. Thats what I tell everyone.