Reporting results to family/partner

Z

zentrader

How often do you report your trading results to your family/partner?

I am quite detached from the daily ups and downs of my trading, but have found family members can be a negative influence if they are too involved, so I keep them to a monthly update.
 
The last thing you need is to have to explain to your wife why you lost money that day...Best to just give them a generic answer.
 
You're going to have up days and down days. If your family members don't understand this and get distressed on your down days... I'd agree that infrequent updates are a good idea.
 
My wife by her own admission has no clue what I do or how I trade. She has at least grasped the concept that it is possible to make money when the market/stock price goes down.

I usually tell her about either big winning days and big losing days. Otherwise as long as I keep paying the bills she is happy.

DS
 
Quote from dougcs:

I usually tell her about either big winning days and big losing days. Otherwise as long as I keep paying the bills she is happy.

DS
More...

Same here ... as long as the bills get paid, dinner out now and then, etc. she doesn't complain.
 
While I was a trainee with SwiftTrade, I made the mistake of telling my family how I did for the first week. Then after, they expected a daily report as something to talk about. Since they didn't understand the nature of the business, they got distressed when I told them I had a big losing day. They remember the losing days and discount the winners. So overall it was a pretty negative experience for me.

Now that I trade at Bright, I give them a generic "it's going good" answer and they seem to be satisfied with it. I also try to make sure that I don't bring the negative or positive emotions from the office back home. Although it's difficult to not be 100% detached from my net P/L each day, I try my best to filter it and show a consistent level of emotion to everyone else.

DNAJ65000
 
When I put some trades on for my wife I found that, when the trades went against me, that instead of cutting my losses I started to rationalise that the price would turn around in my favour again and so I just sat on my hands.

It did turn around eventually, though not until after I had suffered some considerable pain.

The strange thing is that if they had been my personal trades my losses would have been cut real quick.

(For me) it means that trading for oneself is one thing but trading for others brings in additional pressures.

freealways
 
Monthly is fine, the fewer the better. People simply cannot comprehend the emotional up and downs, sacrifices and risks of a career trader.
 
It was long time ago, there was no emini and SP was at $500 a point ...

With beginners' luck (not really a beginner, traded other stuff before trying SP) trading the SP during those days ...
Straight winning days after days.

The very first week I talked about my results, I started to lose money. Stressful indeed. Questions did pop up day after day too.

Learned my lessons since.

Now, I only describe how the days went- as expected or was surprised :)
 
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