Have you ever introduced yourself as an speculaor?

When I get the "isn't that gambling" response I just say everything in life is a bet unless it has a known outcome.

its funny because I had a encounter just a couple of weeks ago with a guy at a party.

I told him his marriage is a bet you have certain expectations about its outcome but you cant know the outcome that is a bet.

Now the Payoffs and penalties can be different sometimes we pay with time lost stress and a whole host of other ways not just money.

Quote from timscott:

I invariably get the "isn't that gambling" response.

I live in the Hamptons and immediately reply with:

"How many of those ocean front homes are owned by people involved with the stock markets?"

"How many of those homes are owned by people who got lucky at Foxwoods?"

The other thing that invariably comes up is societal implications. I trade for one reason only : to make money. It brings me no satisfaction, I'd rather be fishing. I have a very rich life outside of trading where I work with others. I do not base my self worth on what I own or drive ... so who cares what I do to pay the bills?
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I used to trade Treasuries. Every once in a while when I would tell someone I was a bond trader I would get people who thought I was a bounty hunter like Dog. That always gave me a laugh.

I stopped telling people I was involved with the markets when I got tired of people trying to "give" me money to invest. Or ask me investment advice.

I'm in imports and exports. I import shoe laces and export toilet paper.


As for flash:

I know a guy who made a killing in the hey day of the CBOT. He lives well but does not like the attention of serious flash. But like the great trader he is, if he gets pushed too far he knows how to shut someone up. Try to squeeze him and you will get run over.
 
When you tried to avoid the subject, they still wanted to push a bit far. The best thing was to shut them up by making them feel that it wasn't appropriate for them to speak or behave like that.

Quote from kefsurfer:

if he gets pushed too far he knows how to shut someone up.
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I overheard a fellow mention he was a speculator. He wasn't wearing hedge fund shoes, so I slapped myself for eavesdropping.
 
Quote from Pa(b)st Prime:

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.
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Very true.......what people don't realize is that for the guys that truly enjoy working in this business, its not about the money. The money doesn't even really matter, its just a way of keeping score and most traders like competition so the more money they have the more points they are ahead in the game.

I drive an 88 oldsmobile with usually 3 constant leaking tires, no working windows (the ac doesn't work either) and no muffler. However I am 18 years old and make more money than a lot of my friends parents but is that going to make me go out and by a new mercedes? Hell no!
 
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