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Blue Collar or White Collar, which describes you?
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Blue Collar or White Collar, which describes you?

  #11 (permalink)
Market Wizard
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I worked for several years as a computer programmer, working from home, usually in a T-shirt....

So: T-shirt collar.

Or, no collar.

Bob.

Edit: Thinking about it, it's quite possible that thinking that I could always get the right answer, which was my job as a programmer, held me back as a trader.... a variation on @Big Mike's idea.

So, are people who are used to making decisions going to be worse traders? Counter-intuitive, but possible.


Last edited by bobwest; June 13th, 2014 at 11:41 AM.
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  #12 (permalink)
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Big Mike View Post
I'm interested in this discussion because I think there is a correlation between 'blue collar' and 'white collar' workers, prior to their trading careers, and the results they experience as traders.

Put simply, blue collar workers are better at following instruction, while white collar workers usually don't handle being wrong very well.

Thus blue collar workers make better traders than white collar workers.

That is a gross simplification, but my general feeling. Look forward to a discussion.

Mike

So when the majority answer blue collar, is your hypothesis incorrect?

I'd wager that when you account for the sampling and selection bias you come out even.

"If I agreed with you, we'd both be wrong."
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  #13 (permalink)
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addchild View Post
So when the majority answer blue collar, is your hypothesis incorrect?

I'd wager that when you account for the sampling and selection bias you come out even.

I don't know. We'll have to wait and see, but so far majority is white collar.

Mike

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  #14 (permalink)
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my guess is if a blue collar worker can earn enough to actually trade with then he's probably exceptional at what he does compared to a white collar worker who'd make just as much without much effort. So I believe there is difference in skill level contrary to the thought that white collar workers are in someway smarter when they're probably just more privileged from the start. I think that's probably part of what you're seeing.


Last edited by Itchymoku; June 13th, 2014 at 02:09 PM.
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  #15 (permalink)
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Interesting poll............

I've been retired for quite some time now, but I used to own and manage several acres of christmas trees and blueberries which is obviously "blue collar". Also, during part of those farming years I owned and managed a realestate company, manufactured homes company and a property management company which is obviously "white collar".

More years were spent farming, so overall, I guess I'm "Blue Collar".

Rick

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  #16 (permalink)
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Was an electrician for 35 years. Never thought of trading as being blue or white collar. Considered it more like having the "independent SOB syndrome" with a knack for numbers. Its much easier for me loose on a trade then have something blow up or get screwed up. Used to do programming and interfacing for computer operated equipment. My trade plan looks like it came off one of those programs. Very simple for my grey matter to deal with.

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  #17 (permalink)
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Interesting poll, I'm blue collar or no collar for sure. I think another good poll would be formal education, because practically all finance and economic profs are efficient market, random walk guys. I had one prof that study financial chaos theory. So that does make an impression on someone that goes through college. Do I think they are right? to some extent, to me money management is key.

Some college, Bachlelor, Masters, PhD, Professional could be the categories


Last edited by blb014; June 13th, 2014 at 02:40 PM.
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  #18 (permalink)
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The highly technical guys like the computer programmers and the engineers do like to be right I might add, just my experience

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  #19 (permalink)
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Very interesting poll and very interesting opinions already posted...

Since I'm working as a Head of IT Department and Customer Services, I consider myself as a white collar worker who has to make a ton of decisions every single day.

I tend to agree that this personally makes trading harder for me because although I'm used to make decisions, they don't have to be that quick like in trading, rather the opposite is true...

And as already mentioned before, more often than not it's hard for me to be wrong because at my regular job I'm supposed to be right most of the time (let's say at least >90 percent), which totally is in conflict with the trading business...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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Daytrader999 View Post
Very interesting poll and very interesting opinions already posted...

Since I'm working as a Head of IT Department and Customer Services, I consider myself as a white collar worker who has to make a ton of decisions every single day.

I tend to agree that this personally makes trading harder for me because although I'm used to make decisions, they don't have to be that quick like in trading, rather the opposite is true...

And as already mentioned before, more often than not it's hard for me to be wrong because at my regular job I'm supposed to be right most of the time (let's say at least >90 percent), which totally is in conflict with the trading business...

Excellent points, and I'm starting to get more and more convinced that @Big Mike's theory might be right....

Bob.

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