why do people laugh when I mention day trading?
- Thread starter chipmunk
- Start date
Keep in mind, this thread is about presenting yourself as a daytrader to people who dont know you...its not about the merits behind daytrading. Id like us to keep on topic.
First off, could people not quote morons. Many of us use the ignore feature a lot and would rather not see their posts..
The spin has to be such that it doesn't engender a conversation if you don't want a conversation about what you do...
I say that "I manage my retirement account" with a laugh, it sort of says what I do and it sort of says I'm not very busy all day, and I'm comfortable with what I do...
When people that know nothing, or worse yet are all stopped up with conventional wisdom about trading, want to discuss trading I make sure to show no enthusiasm at all, I'd rather get on a bus full of illegals all giving me the dirty looks than spend time listening to the conversation that might ensue...
The spin has to be such that it doesn't engender a conversation if you don't want a conversation about what you do...
I say that "I manage my retirement account" with a laugh, it sort of says what I do and it sort of says I'm not very busy all day, and I'm comfortable with what I do...
When people that know nothing, or worse yet are all stopped up with conventional wisdom about trading, want to discuss trading I make sure to show no enthusiasm at all, I'd rather get on a bus full of illegals all giving me the dirty looks than spend time listening to the conversation that might ensue...
great topic as My wife is somewhat embarrased to say what I do and doesn't want to raise peopls suspicions/or the "oh, trader what does that mean" IF only she knew how much I brought in this year so far 
)
Post above, he hit the nail on the head, short and with some answers. I like syaing business mangin short term investments" sounds good, give them and answer,,,,business, work from home, manages investments funds" I also tell them I consult for a web based business in finance.
It's true, I feel like saying... I actively manage my retirement, because technically that is what I am doing.
I wish I could be teaching FT, because the self rewarding feeling of accomplishing something is better than sitting in front of a monitor all day watching charts and getting migraines from CNBC. However, tradings allows the kids to be home more and hours are flexible to doing whatever I want. Plus I am making quite a bit at it and llows me to donate more money and soon I hope to involved in more local charitable events. Secondly, I'm probably paying off my mortgae within a year, so not too many people can say that.
Sadly, a friend down the street (lived here for 3 years) who we hung out with because our kids are the same age...Well I heard from people that she teaches with (because I taught on a PT basis) she was bitching and complaining "Oh that KEvin neighbor of mine..he sits at home on his ass all day in front of a computer traidng stock or god knows while his wife works all the time and doesn;t even get a teaching job..meanwhile people like him are to blame for my 401K sinking to half it's worth" Well because of that and something else we don't reallly hang out.
My point about that, people do think daytraders cause their funds to drop. If only they knew my daily trades are only a drop in the ocean of trading.
I babbled enough)
) Post above, he hit the nail on the head, short and with some answers. I like syaing business mangin short term investments" sounds good, give them and answer,,,,business, work from home, manages investments funds" I also tell them I consult for a web based business in finance.
It's true, I feel like saying... I actively manage my retirement, because technically that is what I am doing.
I wish I could be teaching FT, because the self rewarding feeling of accomplishing something is better than sitting in front of a monitor all day watching charts and getting migraines from CNBC. However, tradings allows the kids to be home more and hours are flexible to doing whatever I want. Plus I am making quite a bit at it and llows me to donate more money and soon I hope to involved in more local charitable events. Secondly, I'm probably paying off my mortgae within a year, so not too many people can say that.
Sadly, a friend down the street (lived here for 3 years) who we hung out with because our kids are the same age...Well I heard from people that she teaches with (because I taught on a PT basis) she was bitching and complaining "Oh that KEvin neighbor of mine..he sits at home on his ass all day in front of a computer traidng stock or god knows while his wife works all the time and doesn;t even get a teaching job..meanwhile people like him are to blame for my 401K sinking to half it's worth" Well because of that and something else we don't reallly hang out.
My point about that, people do think daytraders cause their funds to drop. If only they knew my daily trades are only a drop in the ocean of trading.
I babbled enough
)exaltedangel09
Guest
Quote from slapshot:
.....
Whether or not 252 days are really tradeable is open for debate.
Technically the market may be open, but at least 80 of those days are pre-holiday, Fed, low volume, random, tight-range, no breakout, witching or just plain crappy trading days that should be avoided or traded very small, IMO. Unless a person likes to lose money.
Between that fact and taking time off for a life, that is why I used the 170 figure.
.....
LOL, WTF?
You can't trade because it's LOW VOLUME.
WTF.
.....
Whether or not 252 days are really tradeable is open for debate.
Technically the market may be open, but at least 80 of those days are pre-holiday, Fed, low volume, random, tight-range, no breakout, witching or just plain crappy trading days that should be avoided or traded very small, IMO. Unless a person likes to lose money.
Between that fact and taking time off for a life, that is why I used the 170 figure.
.....
LOL, WTF?
You can't trade because it's LOW VOLUME.
WTF.
Pizza is Fridays
I have to admit, it was hard telling ppl around me that I was a daytrader a few yrs ago. My neighbors and relatives(my sister & her husband(hes a renowned neurologist) for example, are dbl and triple majors from U.VA) a very hard crowd to impress.
Then when I got my series 3 license last spring of 2009 and and started with 2 clients, they realized Im no ordinary "daytrader" but a professional commodities trader/advisor" as I know refer to myself as. I now manage just just over 500k of their personal nest egg and over $150k of their children's college fund.
The point is this,
To most ppl out there, if you dont trade other ppl's money, then you are generally seen as the Etrade crowd just "maybe" making a few bucks from time to time.
Aside from that though, even when I was an unlicensed daytrader before, i didnt give a shit that ppl around me were rolling their eyes and laughing a lil at me(especially the flack I took from my brainiac older sister).
You gotta have tough skin in this business, thats for damn sure.
Then when I got my series 3 license last spring of 2009 and and started with 2 clients, they realized Im no ordinary "daytrader" but a professional commodities trader/advisor" as I know refer to myself as. I now manage just just over 500k of their personal nest egg and over $150k of their children's college fund.
The point is this,
To most ppl out there, if you dont trade other ppl's money, then you are generally seen as the Etrade crowd just "maybe" making a few bucks from time to time.
Aside from that though, even when I was an unlicensed daytrader before, i didnt give a shit that ppl around me were rolling their eyes and laughing a lil at me(especially the flack I took from my brainiac older sister).
You gotta have tough skin in this business, thats for damn sure.
Like the kid said from the movie Boiler room " The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot." Nobody wants to work for it anymore. There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid. So I went the white boy way of slinging crack-rock: I became a stock broker "