How to deflect friends interest in your money/trading

[cmaxb]

what do you tell people close to you who might make less money and,

1) want a few of your profitable trade signals for free or a split of the profits
2) give you some of their money to get a better return for them

spent years studying the markets and from their standpoint it seems rude to not to throw a "few crumbs" (when it's essentially zero cost to share signals) their way or help them out financially

am i being rude ?

it's not that i dont want to help out in other ways (eg charity), but why should i dedicate years of my life to discovering the location of a gold treasure, and then have friends at the last minute offer to lift it out

is it like lottery winner's friends who believe they deserve a cut for being a friend ?

 

[ElCubano]

Any of my close friends win the lotto they will pony up a nice sized bounty for me or else.

 

[nooby_mcnoob]

what do you tell people close to you who might make less money and,

1) want a few of your profitable trade signals for free or a split of the profits
2) give you some of their money to get a better return for them

spent years studying the markets and from their standpoint it seems rude to not to throw a "few crumbs" (when it's essentially zero cost to share signals) their way or help them out financially

am i being rude ?

it's not that i dont want to help out in other ways (eg charity), but why should i dedicate years of my life to discovering the location of a gold treasure, and then have friends at the last minute offer to lift it out

is it like lottery winner's friends who believe they deserve a cut for being a friend ?

Are these close friends? If so, can you sit them down and tell them that you don't want any part of your relationship to be related to money? If not, give them only losing trades with a disclaimer and move on.

Pretty often, once you are somewhat successful in life, you need to find new friends who are at or above your level.

 

[dozu888]

what do you tell people close to you who might make less money and,

1) want a few of your profitable trade signals for free or a split of the profits
2) give you some of their money to get a better return for them

spent years studying the markets and from their standpoint it seems rude to not to throw a "few crumbs" (when it's essentially zero cost to share signals) their way or help them out financially

am i being rude ?

it's not that i dont want to help out in other ways (eg charity), but why should i dedicate years of my life to discovering the location of a gold treasure, and then have friends at the last minute offer to lift it out

is it like lottery winner's friends who believe they deserve a cut for being a friend ?

I will give a more philosophical answer...

when you open your hands to give, god will put more gift in your hands.

be generous and give as much as you can.... this changes your relationship with money and will help tremendously to investment/trading psychie.

why is this even such a big deal, unless you trade micro caps there is plenty to go around.

help out whoever need help.. good karma usually comes around.

 

[RedDuke]

...

Pretty often, once you are somewhat successful in life, you need to find new friends who are at or above your level.

BS True friends do not care, if one is fortunate to have them. They will there there for you no matter what just like you would. Money makes no difference.

 

[Specterx]

In my dozen years of trading this kind of thing has never come up once - other than meaningless banter over beers about "what stocks are hot these days".

If you have a friend(s) who are pestering you to let them piggyback your signals or to manage their money, I'd suggest you find better friends and/or examine how your own boasting or flaunting of success and wealth, to the extent you have it, may be inviting this behavior.

 

[nooby_mcnoob]

BS True friends do not care, if one is fortunate to have them. They will there there for you no matter what just like you would. Money makes no difference.

If you are lucky enough to have true friends. I have two who I would say are somewhat true friends, and I can only share my financial status with one, the other one would definitely get jealous.

 

[nooby_mcnoob]

I will give a more philosophical answer...

when you open your hands to give, god will put more gift in your hands.

be generous and give as much as you can.... this changes your relationship with money and will help tremendously to investment/trading psychie.

why is this even such a big deal, unless you trade micro caps there is plenty to go around.

help out whoever need help.. good karma usually comes around.

Very cool perspective. You're right.

 

[Trader Curt]

I think it's wise to not tell anyone you're an investor. But there's nothing wrong with buying the people that think you work at wal mart a nice round of drinks

 

[MarkBrown]

i don't have many friends cause i always ask to borrow money -