There are plenty of great traders around here making a few hundred % a year.
The Daytrader Stigma
- Thread starter Corso482
- Start date
It only became stigmatized because the term became widely used for the first time during the bubble and widely advertised through Etrade commercials and the like with snotty kids or neurotic stay at home types as the main characters.
It's interesting that we do pretty much the same as proprietary trading desks and equity hedge fund traders but without the business card and salary (not based on performance). "Professional Trader" is a good way to describe full-time traders.
It's interesting that we do pretty much the same as proprietary trading desks and equity hedge fund traders but without the business card and salary (not based on performance). "Professional Trader" is a good way to describe full-time traders.
I think this is a very valid point...In fact, there was another thread about this same subject about 6 months ago...Lets be honest, its a heck of alot easier to avoid the subject with people who either: a) have been perpetual losers in the game or b) regard the occupation as another form of gambling or c) have the misperception that this is not work, but some form of luck.
The real question is: why does anyone feel the need or desire to either educate people who are skeptical or defend something, that in most critics eyes, is simply indefensible...Hence, either avoid the subject or figure out Plan B when asked about your occupation...
The real question is: why does anyone feel the need or desire to either educate people who are skeptical or defend something, that in most critics eyes, is simply indefensible...Hence, either avoid the subject or figure out Plan B when asked about your occupation...
Rogue, this time you went too far for me...I don't think a daytrader stigma is any different than the unemployed stigma (couldn't be much worse). Since I lost my job, my family and friends don't return calls. So how can it be much worse? If it works out, at least I'll know who not to help!
Right now I tell people I am starting a Hedge Fund..... It sound alot more lucrative than daytrading... Alot of people I know are sweating their asses of at work with overtime because of the money they lost in their "longterm investments".... Some family members tell me to grow up and get out of trading... I just all laugh at them and drive to 1 of 2 of my country clubs in my new BMW.
i prefer "work for a hedge fund".. usually as soon as people hear it's a "job" it's more easily accepted as "normal".. (i usually say it as, "i work for what's called a 'hedge fund'.. it's to do with financial markets"...)
i have told a couple of close friends what i'm doing, and they seem to realise that it's serious and not just some game i'm playing.. (what they say behind my back is another matter)..
haven't told anyone in family (except couple of cousins who are I-bankers), never tell any girl i'm going out with, very rarely discuss stockmarket with anyone (who isn't a trader)... can't see any point in adding extra pressure...
Been interested in markets since a very young age. Read many books, papers, etc. Bought first stock (Orion Pictures) on a "tip", lost it all ($600.00) during their chap 11 filing.
Eventually went on to get a BA in finance, with intention of going into IB M&A, etc. Junior/senior year of college tech analysis really got my interest. Began small position swing trading from there. Did fairly well at first. Got ahead of myself, overleveraged on margin. Took the wrong trade and blew out my humble account. Next several years spent replenishing, educating, and so forth. Started looking at options and had limited success. Done little active trading of late, due to fee/compliance structure at our firm, and current market environment.
Looking to get back into action when time is right. And presently looking for a prop firm.
Trade well all.
Gordo