The Daytrader Stigma

Originally posted by cpo


Dark:

I think that you came out with that whole new meaning yourself.
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I was keying off the context provided by the sentence that followed:

"The autistic observer's reality is firmly believing in what they know the least about and trying to convince you of the same."


Of course I could easily be wrong. But even if so, I'm not sure how much trading is really about deep introspection of others. When I see portfolio managers taking up dogs like HI and AOL and KLAC just to juice their sorry records before fiscal year end, it doesn't give me insight into their deep hopes and fears. It just shows me they are window dressing beta rippers who could care less about their clients. Trading is an interplay of nuanced psychology and uncomplicated action and observation, with neither claiming dominance. imho.
 
Originally posted by darkhorse
Of course I could easily be wrong. But even if so, I'm not sure how much trading is really about deep introspection of others.

Trading is an interplay of nuanced psychology and uncomplicated action and observation, with neither claiming dominance. imho.
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Anyway it sounds like you know a lot about others' introspection. Is this knowledge derived from trading, or is that a byproduct of deep self introspection?

I like the last line: "...uncomplicated action and observation, with neither claiming dominance." Trade or not to trade: that's the question. :)

cpo
 
you dont give a damn about them. they say we'll go broke because they dont understand the profession. you learn it as you learn to become a teacher for instance. novice wiill probably lose a bunch before becoming profitable. in the other worlld it's called tuition
 
I never refer to myself as a "daytrader". And I don't even like that term myself. As you say it does have a very negative connotation to the average person due to the media coverage and also incidents like the guy (what was his name? - the guy in Atlanta wasn't it?) that flipped out and killed people at his firm. I generally tell people that what I do for a living is that I'm a "professional securities trader". This seems to be admired by most people who somehow feel I think it's a job where you really don't need to do any type of real work and you make lots of money with no real effort. If they only knew. Ha. It would be interesting to hear what people actually think when I tell them that.

Also I definitely don't bring up even this description, "professional securities trader", when I'm dealing with any financial institutions like banks, or credit card companies, etc. They see this profession as way too risky to deal with you so I just tell them I'm a retired painting and decorating contractor which I did do for a while.
I also might bring up, depending on the situation, that I was a straight A average student in my major, philosophy, at one of the University of California campuses. Depends on the situation as I say.

I especially like the comments of darkhorse who said,
"I think he's saying that when someone criticizes you as a trader (and/or idolizes you as a trader), it is because they are dealing with jealousy or fear or weakness in their own lives, and to see or hear of maverick success in a tough endeavor usually highlights that feeling of personal inadequacy, thus leading to a response of either base subservience or lashing out, depending on the person's emotional defense strategy."

The reality is that in some sense it doesn't matter so much what others think of you, but in another sense it does. We live with all sorts of people and the way they treat you is based on their perception of you. If they have respect for you they'll treat you better and your interactions with them will go better. And also how you feel about yourself is conveyed to other people and they'll treat you accordingly. People generally have little respect for people that don't respect themselves.

At least our profession is more highly regarded by most than being a prostitute or a bank robber. But then again not by everyone. :)
 
Here's a good story in regard to worrying about what other people think of you. It's from a great little book, "Zen Flesh, Zen Bones".

Is That So?

The Zen master Hakuin was praised by his neighbors as one living a pure life. A beautiful Japanese girl whose parents owned a food store lived near him. Suddenly, without any warning her parents discovered she was pregnant.

This made her parents very angry. She would not confess who the man was, but after much harassment at last named Hakuin. In great anger the parents went to the master.

"Is that so?" was all he would say.

When the child was born, the parents brought it to the Hakuin, who now was viewed as a pariah by the whole village. They demanded that he take care of the child since it was his responsibility.

"Is that so?" Hakuin said calmly as he accepted the child.

He took very good care of the child. He obtained milk from his neighbors and everything else the little child needed. A year later the girl-mother could stand it no longer. She told her parents the truth - that the real father of the child was a young man who worked in the fish market.

The mother and father of the girl at once went to Hakuin to ask forgiveness, to apologize, and to get the child back again.

"Is that so?" Hakuin said as he handed them the child.
 
I also liked the phrase of Lightningsmurf - I "design and implement derivative and equity systems." Sounds great to me. Shouldn't you have a website with that as the subtitle under the main business heading?
Lightningsmurf Works, Inc.
We Design and Implement Derivative and Equity Systems
:)
 
Joe Girard is probably one of the greatest salesman of our time. He's written a few books. In one of them he's mentioned about being embarrassed about your profession.

Let's say you're a doctor, and when someone asked what you do for a living, and your response indicated that you're embarrassed... what kind of doctor will they think you are? Joe says that you have to be proud of what you do no matter what others think, because in order to be the best salesman you must be able to sell yourself.

IS THAT SO??? lol, good story. Could those three words be ommitted with... "Suck My Ba**s" instead?
 
Originally posted by Trader5287
Daytrading stigma ain't jack. Try being a lawyer for 20 years.
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At least lawyers are thought to be rich, which is just as false as thinking all daytraders are broke.
 
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