Quote from danielc1:
Telling a good friend you have always traded the option market... He gets the idea and start reasing funds from his friends and familys and tells them how he will make a 100% return for them with my help, without first checking with me... Guess how that ended... Yes, he spended every last penny of it...
How about sharing your thoughts and trading ideas with another friend, spending hours, day's for free to let them get a clue how it works. Then he thinks he has found something new in the market and ask you want to buy it from him... (That even did not work for him, he is still working for a boss)
No sir, I have learned my lesson. Or did I?
Nope,
Let's do it again. A guy who made two million dollars in the market before the crash of 2000. Comes for advise to me. I tell him somethings and give him a bigger picture to learn from. Six years later of my time and devotion he is still nowhere because of a lack of commitment to follow some simple orders... I ended that relationship with telling him it wil cost a fortune now if he want to ask yet another question about trading.
Did I now learn my lesson? Yes, it sinking in. Keep your mouth shut...
So on family and friends diners, I do not talk about my profession. I do talk about my car, that I love(Ferrari), or the things I buy or want to buy. I talk about my other businesses, but I do not talk about my trading. Period.
It is hard. Not only for me but also for my wife. They know I do not bunch anymore, but now they try to convince my wife that I must share the 'system' to make money. And believe me, if you are succesfull long enough everyone you know will ask for it... Maybe not now, maybe not tommorow, but when they are in a financial crisis, they will come and ask you. The people really think that there is nothing to it. It is just pressing some buttons on a computer, right? They don't see the years you have spend working on your self to get it right. Your mind set, your emotional being, your computerskills and then spending years to get a head...
My advise, suck it up. See it as growing up and becoming a great trader when you stop talking about your results...
Great post. It's funny how people seem to take for granted all the hard work that lies behind a successful trader. If I were to ask a musician to teach me to play his/hers instrument in a day, I would be met with disbelief. But somehow I am supposed to teach how I "play" my instruments in a few minutes....
