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My family says trading isn't work.

  #43 (permalink)

Legendary Market Wizard
Chicago Illinois USA
 
Trading Experience: Advanced
Broker/Data: IB, ToS
Favorite Futures: /ES, US Equities/Options
 
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Posts: 2,625 since Aug 2011
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Okay Batman...

Say, I understand grandpa. Can you tell me what it is about that activity or about me personally that you do not believe in? Ask him to share his experiences with you so that you can understand his perspective. Listen to what he says.

If he is rational and knows anything about either subject see if you can discover what conditions or what scenario would need to be true for him to have a different opinion. Consider those things.

Explain to him, not why you think he is wrong, rather what steps you are willing to take to make it. Describe your business plan and what specific actions you are committed to and at what point you would consider altering your path. Be specific with goals and place a time frame on their attainment. Ask for his blessing to follow your dream.

Remove yourself from any type of dependence (financial or otherwise) on the family and follow your plan. Can you do that? If you are committed, you still might never make it. MANY smart and disciplined people don't make it in trading. If you decide to move forward keep in mind that staying in the game may be looking at the market on your break from another job. It may mean working at something else all day long and struggling to get one or two trades in while everyone in your time zone is sleeping or out with friends. Be on the look out and jump like a madman at any opportunity or break you might get. Be relentless in pursuit of your dream. Welcome detractors, love that they care, be patient in affliction (most of the time) and be humble in victory.

I have two pairs of shoes in my closet that are not mine. My grandpa's shoes have holes in the soles...ones that he patched with cardboard and duct tape. Though he died with just under a million bucks, those shoes are testimony to an ethic. Make due, use it up, find a way or go without. The other shoes are the slippers my dad had on when he died. I keep those as a reminder to stay humble...that no matter what I do, it is in large part due to the people that taught me and motivated me. Some shoes are too big to ever be filled.

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