Reporting results to family/partner
- Thread starter zentrader
- Start date
Very true. One of the most important elemetns of a successful marriage is having similar ideas about money. I think a lot of traders have feelings about money that would be distressing to the average woman. Generally, we are obsessed with it on one level, since this is a bottom line business. Most women seem to like to feel that money just grows on trees, and regard it as distasteful to be too preoccupied with it.
At the same time, you have to have a somewhat cavalier attitude about losing money to trade. I don't mean you piss it away, but you understand a businessman's risk and the concept of probability. What makes it worse is that most traders are capital limited, so we hate to tie up money or waste it on stuff that doesn't promise a return. Stuff like clothes, jewelry, cars, vacations, etc. So your wife/girlfriend sees a guy who is seemingly obsessed with money, won't spend any of it on her, yet seems to lose large chunks of it without much concern.
Good luck with that relationship.
Best not to say anything, EVER, to family members. 30 years ago...that's right, 30 years...I recommended Cox cable to my parents, because it was the hot new technology, I was in the TV production business, and I had made a nice profit. Well my father waited and naturally bought at the high, then sold lower. Typical investor. And to this day, I am reminded at every family gathering that I give terrible investment advice.
Recommending stocks is deadly. They will always buy at the highs, then hold it because "it's a good company and my brother in law recommended it and he's on Wall Street." It's good to carry around a mental list of very safe slow movers for people who demand rec's. Some people will get annoyed if you won't rec something. They know you're just being a jerk and keeping all the good ones for yourself. C, FNM and ONE used to be good for this type of thing but they're more controversial now. Maybe APOL. LOL.