Support from wife/kids/loved ones in your trading - Psychology and Money Management | futures io social day trading
futures io futures trading


Support from wife/kids/loved ones in your trading
Updated: Views / Replies:26,351 / 191
Created: by Big Mike Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 3  
 
Thread Tools Search this Thread
 

Support from wife/kids/loved ones in your trading

  #81 (permalink)
Elite Member
San Jose, CA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: IB/IQFeed
Favorite Futures: Futures
 
Posts: 110 since Jan 2011
Thanks: 54 given, 89 received


liquidcci View Post
Trading with distraction will lead to losing long term. One way you might overcome that is developing and AT system. Also the tighter the time frame day vs longer term will punish you more for distraction. Shorter time frame demands less distraction to be successful.

I am definitely a longer time frame trader, so I figure I can't totally avoid distractions. This kind of thing happens to me several times a year and is actually part of my system. I can't say with certainty that I would have done better totally without distraction. I was actually thinking of it more from the point of view of being able to operate under stress and it made me smile as I thought about how to handle pigtails better next time.

Reply With Quote
The following user says Thank You to Jolew for this post:
 
  #82 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Jolew View Post
I am definitely a longer time frame trader, so I figure I can't totally avoid distractions. This kind of thing happens to me several times a year and is actually part of my system. I can't say with certainty that I would have done better totally without distraction. I was actually thinking of it more from the point of view of being able to operate under stress and it made me smile as I thought about how to handle pigtails better next time.

@Jolew

Hermione, "Im going to bed before you two get us killed... or worse ..... expelled!"

Ron Weasley to Harry Potter, "She really should sort out her priorities"

The markets will always be there .... daughters asking you to braid their hair... not so much

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following 4 users say Thank You to ThatManFromTexas for this post:
 
  #83 (permalink)
Elite Member
San Jose, CA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: IB/IQFeed
Favorite Futures: Futures
 
Posts: 110 since Jan 2011
Thanks: 54 given, 89 received



ThatManFromTexas View Post
@Jolew


The markets will always be there .... daughters asking you to braid their hair... not so much

Couldn't agree more. That's why the remedial action will be more hairstyling practice!

Reply With Quote
 
  #84 (permalink)
Curtis
Hershey PA
 
Futures Experience: Intermediate
Platform: E signal
Broker/Data: AMP CQG
Favorite Futures: YM
 
CRM5096's Avatar
 
Posts: 116 since Jun 2011
Thanks: 55 given, 36 received

I plan on coming back to this thread read the title page of thread , I got here from another thread of Mikes , this thread hits home for me
it is very difficult to express what Trading is , It really messed me up mentally when close friend's condemned me for Trading. My wife does support me also have a close friend who is also a counselor support me . I also talked to a pastor at Church who supports me. The snag is I still remember the negative comments more than the positive.
My wife encourages me to not even talk about what i do , people would not understand anyhow all they care to know is how much money you are making or loosing and or how you did it

Nothing so Impressive as Simplicity
D.G. Watts
Reply With Quote
 
  #85 (permalink)
Elite Member
san francisco
 
Futures Experience: Beginner
Platform: Interactive Brokers
Favorite Futures: stocks & options
 
Maisie's Avatar
 
Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

overall, i'd say hubby's been very patient while i take up this new skill. i've lost about half my stake between "education", "alerts" and plain old losses, and for him to still support me at all is really testament to his faith in me. which is not unfounded - learning to trade reminds me of when i was in college and had to fill a science requirement. i went from having a D average to ending the class with a B+ and that was back in the day, before grade inflation. i went to every tutorial, help session, and got help from friends - i was like, B or bust. i've also learned how to do other things i wasn't particularly good at to start with, out of interest in the subject. i know if you work hard and are determined, you can succeed. and after 23 yrs dh knows me well enough to know once i get into that taurus bull-determined state, just step aside. it's gonna take longer than i anticipated, though. that's ok, i have a good 20 yrs of trading ahead of me - i don't need to make it happen ASAP.

this has been good for my husband, too, as now he has total responsibility for the kids while i trade. this happens to be in the early AM - otherwise we could never do it as has to leave for work around 10. at first, he literally could not make their sandwiches for school lunch and was always forgetting to check their backpacks for homework, etc. now i hear him really in charge, making sure they have all their stuff, combing their hair, making sure they get to school on time.

at first nobody understood trading takes *total focus* and would ask me questions while i was concentrating on my position. i just kept repeating, i can't talk to you right now. they get the picture now, all of them.

my older boy is the one i can most easily talk to about trading. he understands the charts, he can just *see* it. he in fact gives me good advice. hubby is starting to catch on but he gets a faraway look still when i go into details about time decay, strike price...but he does make an effort and is catching on.

so basically, so far, so good.

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Reply With Quote
 
  #86 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received

They keep trying to take my computer away from me. You fall asleep in the middle of a couple of trades and people start freaking out... sheesh...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #87 (permalink)
Elite Member
san francisco
 
Futures Experience: Beginner
Platform: Interactive Brokers
Favorite Futures: stocks & options
 
Maisie's Avatar
 
Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

i see you are highly experienced. nice to think eventually, it gets boring enough you can fall asleep. sleep is good...speakng of which, it's midnight! time to crash!

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Reply With Quote
 
  #88 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,304 received

As traders we all read a lot of trading books, both technically and psychologically oriented. Personally I think it would be extremely valuable to have a book aimed specifically at wives/husbands who do not trade. No need for a 500 page epic, just a few chapters bringing the partner into the picture of what's involved.

"Married to a trader - by DarkPool" The book would have the following chapters:
- Trading basics
- The psychological battle
- Losses: They're part of the business
- Trading: It's a business
- The journey: The process your significant other must go through to be become successful

hmmm, i've always wanted to be an writer/author...

Reply With Quote
 
  #89 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


DarkPoolTrading View Post
As traders we all read a lot of trading books, both technically and psychologically oriented. Personally I think it would be extremely valuable to have a book aimed specifically at wives/husbands who do not trade. No need for a 500 page epic, just a few chapters bringing the partner into the picture of what's involved.

"Married to a trader - by DarkPool" The book would have the following chapters:
- Trading basics
- The psychological battle
- Losses: They're part of the business
- Trading: It's a business
- The journey: The process your significant other must go through to be become successful

hmmm, i've always wanted to be an writer/author...

Just like some people want each spouse to have their own separate checking account and their "own" money, some do not want to share details of trading. Especially since it will involve a lot of personal mistakes that aren't easy for most people to own up to.

But I think that if you are the kind of person that shares with your spouse, then I believe you could gain a lot of support by involving your spouse with your trading. Not just telling them what happened each day, but trying to get them to experience it for themselves, by making their own trades.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #90 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,304 received



Big Mike View Post
Just like some people want each spouse to have their own separate checking account and their "own" money, some do not want to share details of trading. Especially since it will involve a lot of personal mistakes that aren't easy for most people to own up to.

But I think that if you are the kind of person that shares with your spouse, then I believe you could gain a lot of support by involving your spouse with your trading. Not just telling them what happened each day, but trying to get them to experience it for themselves, by making their own trades.

Mike

Agreed. For me personally, I want my wife to know as much about my trading as is reasonably possible. We are both very open with each other about finances and because of that we seldom fight about money. I dont expect my wife to know the finer details of trading (because quite frankly she's in marketing and has no interest in it), but she does I feel need a good overview of what it involves.

My thinking is that when things are going well, your spouse will support your trading. But when things are not going well and you're on a losing streak, only then will you find out if your spouse really supports you or not. And it is at that point, that if your wife understands what you do, she will be more likely to continue supporting you through the hard times.

Reply With Quote

Reply



futures io > > > Support from wife/kids/loved ones in your trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading Chair with Lumbar Support? vk79 Off-Topic 102 July 14th, 2017 11:41 AM
Trading Support and Resistance shodson The Elite Circle 21 December 7th, 2011 10:13 AM
Anne Sinclair, Former IMF Chief's Wife, Stands By Her Man Quick Summary News and Current Events 0 May 21st, 2011 02:20 PM
Pros and Cons of Giving Your Kids Financial Independence Quick Summary News and Current Events 1 February 13th, 2011 07:37 PM


All times are GMT -4. The time now is 11:27 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.09 seconds with 19 queries on phoenix via your IP 54.227.51.103