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My family says trading isn't work.
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My family says trading isn't work.

  #1 (permalink)
Trading Apprentice
Tel Aviv, Israel
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Ninjatrader
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My family says trading isn't work.

They all think it's gambling and they want me to just straighten out and go work a normal 9-5 job.

Trading is work.
Its fucking work.
Its just online work.

And if thats TOO SMALL FOR YOUR PEA BRAIN TO HANDLE THEN DONT SAY A FUCKING WORD.

Seriously they make me so angry you have no idea.


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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Tel Aviv, Israel
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: CL
 
Posts: 37 since Mar 2014
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Just spilling some thoughts out


Happy Saturday everyone lol

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  #4 (permalink)
Trading Apprentice
Chicago
 
Futures Experience: Advanced
Platform: CTS , Sierra Charts
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Posts: 11 since Jul 2018
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Your family is nuts. This is one of the hardest jobs in the world. Just keep your chin up and your stops set.

Sent using the futures.io mobile app

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  #5 (permalink)
Market Wizard
North Carolina
 
Futures Experience: Beginner
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I think it is useful understand the differences in trading versus gambling because clarity of thought is very useful in speculation. Trading is actually very similar to gambling in some ways but different in others. It is similar because both involve taking risk but so does entrepreneurship. I think it is more relevant to understand the differences:

1. Most gambling games have known odds. Trades rely on a future state which is always unknown even though some traders are very good at predicting and/or using historical precedent to weight the odds. This is relevant because there is a difference in risking money on a game that is known to be biased against you versus a game that is likely biased against you but might not be at times. It is therefore more apt to call trading speculation because one is speculating about the future.

2. Trading does serve a purpose in making the market more efficient for other investors/traders whereas gamblers are pitted directly against each other. In other words, if you make money trading while you will be taking money from other traders then you will be helping another group of traders or investors. This is a big difference in my mind.

3. Most gambling games have betting limits that make it difficult. While negative bias in the form of slippage does exist, there is much less negative bias for traders at retail size. Traders can basically bet bigger when the odds are in their favor.

Anything that expends energy can be seen as work even playing games. What they actually probably question is whether it is productive. I think it can be as long as you are growing and learning. Perhaps, you might find a way to meet both immediate income and long term goals by picking up some part time work. Good luck with your trading!

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  #6 (permalink)
Elite Member
Dallas, TX USA
 
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TraderTS's Avatar
 
Posts: 69 since Jul 2014
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Trading isn't work...

OMG you should have profit already because I noticed in your profile that you are "Advanced" and trading "CL Crude Oil". So WHY are they still saying that?

I agree with you Trading is WORK. It's 24/7 minus 6 hours of sleep and 30 minutes of naps in-between.
Everyday is a groundhog day for me... Eat, Sleep, Homework, Trade!

Regardless of what they said, it depends on you. Do you still have a passion for trading? If yes, then keep on trading.

Keep smiling!


Last edited by TraderTS; July 29th, 2018 at 02:03 PM.
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  #7 (permalink)
Elite Member
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MiniP's Avatar
 
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I've been in a similar situation where at first I tried to explain this to someone and they couldn't understand that this isn't the exact same thing as gambling because you have an edge and exploit it. Now I'm sure some professional gamblers would say they have an edge and they exploit it... after that conversation ..multiple times. I politely told that person to go fck them selves. It boils down to I know the work I put in and Its hard!

Some people at first said I was gambling but after explaining it in at elementary level they understood and agreed it wasn't the same. I'd try explaining it a little better before you tell people off. It's your life do what makes you happy.

-P

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  #8 (permalink)
Elite Member
Evans GA/USA
 
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They are right, it isn't work.

Work is where someone goes and they pay you just enough so you don't quit and you work just enough so you don't get fired. They give you a few weeks a year off for "vacation" where you can "recover" just enough to tolerate it for another year.

In trading, you are directly rewarded for your efforts. There is no glass ceiling. There are no office politics. There are no racial or gender barriers. You are not confined to a cubicle, office or factory floor. You are free to trade whenever and where ever you want. So, in reality, trading isn't work, it is freedom.

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  #9 (permalink)
Market Wizard
San Jose, CA
 
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mzelixon View Post
They all think it's gambling and they want me to just straighten out and go work a normal 9-5 job.

Trading is work.
Its fucking work.
Its just online work.

And if thats TOO SMALL FOR YOUR PEA BRAIN TO HANDLE THEN DONT SAY A FUCKING WORD.

Seriously they make me so angry you have no idea.


Its sounds like you need a new family, JK. That's why you have FIO(BMT). We can all be family.

Family/friends can be the biggest group of haters.

Most people don't understand trading and would rather put their faith in a broker(dear God no). Or better yet, putting their money in a company they like(dear God no.)

I don't know you or your trading style, but if you have no strategy and you are losing hand over fist, that could be a situation of gambling.

Good luck!


Sent using the futures.io mobile app

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #10 (permalink)
SpeculatorSeth
Salt Lake City, Utah
 
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Favorite Futures: ZB
 
Posts: 450 since Apr 2016
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Trading is work, but it is not necessarily a living. The vast majority of people will not be consistently profitable enough to live completely off their trading. When you are just beginning that notion can actually hurt as it's hard to have a clear head when you aren't paying the rent.

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