Reporting results to family/partner

I send out a monthly performance report. My partners seem quite content with that. Maybe that is because so far I am having a great year?

I get a few instant messages and emails if they have questions, but generally, what they see is what it is. The fund has not had a down month yet. When that happens, this may all change....(ughh).

When people ask how the fund is doing, I just give general answers. I don't like to really discuss the day to day action. It really is not indicative of how things are going.

I do talk with my father and a few other traders about my daily p/l and I usually round it to the nearest thousand. Unless it is a major day, usually it is just in passing.

"Hey dad, how are you. I made 5 today" That sort of thing. My gf and close friends never really can tell how I am doing by my mood. That is important. You can't bring your work home.
 
Once i step out of my office, i don't talk about or think about the passed trading day.

I don't have attachements.. so.. i wouldn't know how it feels to have to support a family, but from what i see, it must be tough.
 
Quote from 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.
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If they start bitching, we cash 'em out. Fuck 'em.
 
As PoundTheRock says : "If they start bitching, we cash 'em out. Fuck 'em."

So Cathy, what do you do when Bob starts bitching about the decisions you made ? (or vice versa ?). :)

Can there be peace and acceptance of the outcome of one's decisions between two partners ?

freealways
 
Quote from freealways:

As PoundTheRock says : "If they start bitching, we cash 'em out. Fuck 'em."

So Cathy, what do you do when Bob starts bitching about the decisions you made ? (or vice versa ?). :)

Can there be peace and acceptance of the outcome of one's decisions between two partners ?

freealways
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Yes.

We never argue about money. Never did, not going to start now.:)

We work on the same chart, with 2 different aspects. I doggedly stick to the charts, he reads the tape. The decision is mutual pretty much, with me having the last say since I am operating the computer.....:p
 
My wife will ask me: should I pay off the entire balance on the bills... or the minimum payments? She can read between the lines. Both of us came from rather modest and conservative backgrounds, and know how to pinch pennies during drawdown periods. My parents equate trading to gambling, and no amount of education will change their minds otherwise (they actually think you can make a living at a casino), so I don't go there.

I don't like to compare P&L with other traders.

Paying off or paying down debt has been one of the most beneficial things I can do to help my trading. Psychological nirvana.
 
Quote from praetorian2:

I send out a monthly performance report. My partners seem quite content with that. Maybe that is because so far I am having a great year?
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I send out a monthly newsletter. I find educating my business partners is very beneficial, in the newsletter I write quotes from Warren Buffet etc, always try to find the quotes that specify long term nature of investments :)

I find a newsletter an indispensable tool to set right expectations. I even start sending out the newsletter to potential friends/relatives who show interest.

Regarding wife/partner, I feel if you don't have a supportive wife/partner, it will have a measurable effect on your trading. I for one can't see myself succeeding in this difficult business of trading if I didn't have a supportive wife. Also if you have a partner who is not fiscally conservative, its very hard to make the money grow. As Ed always says its hard to inflate a balloon with a hole in the side.
 
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