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Do you admit to being a trader?
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Do you admit to being a trader?

  #141 (permalink)
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PeterOhlson View Post
They don't say much. Must be a side effect from the chloroform.

Anyways, one thing I have found quite fascinating is that the younger people almost exclusively react positively to me being a trader. In fact, I haven't met a single <25 year old who reacted negatively. It's always the older crowd who hate me for it. So those are usually the ones I lie to.

You sociopathic madman!

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  #142 (permalink)
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zer0 View Post
I find that 'futures trader' gets a lot more favorable response than 'daytrader', or even 'trader'. Somehow the "futures" in 'futures trader' gives the title some form of respectable context. Don't say 'commodities trader' though, unless you enjoy hearing snide remarks regarding pork bellies and the like. Silly, I know. Anyway, I don't much care for the term 'daytrader', so I always describe myself as a 'futures trader', which incidentally, is the most accurate description. Considering Chicago is arguably the futures trading capital of the world, I don't bear the brunt of much negativity; presumably because the interested party knows someone, or knows of someone that works at a local firm. I don't travel a whole lot, so I can't comment on reactions abroad.

I rarely tell people what I do. I used to tell them I were a student, but I'm getting to old for that now...

I can be tempted to tell them I am unemployed, which technically is true...

As for your example, I always found derivatives trader to be the best... Most people won't ask what it is, and those who do, quickly lose interest if you explain it right...

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  #143 (permalink)
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Lornz View Post
As for your example, I always found derivatives trader to be the best... Most people won't ask what it is, and those who do, quickly lose interest if you explain it right...

That's pretty true in my experience. If someone starts giving me crap I start talking about mathematical modelling of financial markets and statistics to shut them up. Very few people understand (or want to understand) the mathematics and application of risk management, despite being the most important thing to investing and making money in general.

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  #144 (permalink)
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Big Mike View Post
Was thinking about this again recently over the holidays.

The question is: "Do you admit to being a trader?". What I mean is that when you introduce yourself to someone and they ask what you do, what do you tell them? I have found that when I tell them I am a day trader they usually don't respond very well to that, it is apparent they do not believe it is a "real" job. I even had one guy recently respond immediately saying "you aren't one of those oil speculators are you, driving up the price for everyone?". Ugh, nice conversation starter - and you can't really "win" with these guys, I mean that you can't really make them understand/educate them. It's just casual conversation "What do you do?", the answer can't be an hour long...

So often times I don't tell people I trade, I just tell them I work from home running some computer related businesses. They seem to like that, it seems you are a success then.

What about you guys?

Mike

I Love My New Day Job! So I tell 'em I'm a trader. I mostly get a blank look and a couple of questions punctuated with a confused "Oh, okay." Sometimes I get bright eyed look with a response like, "You know, I've always wanted to do that." But too often I see envy in their faces; the look of understanding that there is more in life but it is out of their reach. I don't like to dredge up hurt and dissapointment for people. But I'm searching for those who want more for themselfes and are willing to work for it. I'm waiting for the response, "Can you show me how?" I'm so eager to say "Sure, let's get started."
-Trader Duck-

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  #145 (permalink)
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futuretrader View Post
No, I pay a dentist, and he or she earns a salary, because I unfortunately require the specific service that dentist offers. The fact that other people make money supplying both of us with goods etc doesn't change the fact that I'm not providing a social service through my trading.

I agree that it is honest work, and in many ways I find it more honest than the rhetoric surrounding working in university environment, let alone in corporations.

I also agree that the salaries some professions get seem absurdly out of proportion to their social worth, but the fact is that performers of all kinds are paid because people think it worth paying to see them.


Perhaps there are only two types of products/services?
Therefore only two types of wage earners.

1) Primary, that is, essential to life. What we need.
2) Secondary, that is, not essential to life. What we want.

Some of those in the primary group are doctors, farmers, police officers.

One of those in the secondary group are entertainers. Entertainers, even those
that make >$1,000,000 a year are not needed.

We all have a place I suppose. If there weren't any unskilled workers in
society, our society would break down overnight.
--------------------------------------------------------------------------------------------


"Why do the smoke-stacks have those things like balconies around them?" enquired Lenina.
"Phosphorus recovery," explained Henry telegraphically. "On their way up the chimney the gases go through four separate treatments. P2O5 used to go right out of circulation every time they cremated some one. Now they recover over ninety-eight per cent of it. More than a kilo and a half per adult corpse. Which makes the best part of four hundred tons of phosphorus every year from England alone." Henry spoke with a happy pride, rejoicing whole-heartedly in the achievement, as though it had been his own. "Fine to think we can go on being socially useful even after we're dead. Making plants grow."
Lenina, meanwhile, had turned her eyes away and was looking perpendicularly downwards at the monorail station. "Fine," she agreed. "But queer that Alphas and Betas won't make any more plants grow than those nasty little Gammas and Deltas and Epsilons down there."
"All men are physico-chemically equal," said Henry sententiously. "Besides, even Epsilons perform indispensable services."


BRAVE NEW WORLD

by

Aldous Huxley

Excerpt from Chapter 5

Page 1 Chapter 1 is here:

Brave New World by Aldous Huxley : chapter one

- Stephen

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  #146 (permalink)
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Trader Duck View Post
... But too often I see envy in their faces; the look of understanding that there is more in life but it is out of their reach. I don't like to dredge up hurt and dissapointment for people. But I'm searching for those who want more for themselfes and are willing to work for it. ...

Exactly. Many people are stuck with their fixed being without thinking about reaching out for things outside their current scope. The same for travelling - I enjoy seeing the world - even though it can get expensive sometimes - the experience itself is worth everything. Talking about 'trading' and many people tell me: "Yea, one of my friends" or "the brother of my my wife used to do this but lost a lot of money in the last crisis." Oh yea, good base for telling them about my job. In the end one is put into the category of kind of small speculator, buying and selling stocks the whole day at home. Using topics like risk- and money management or even systematic trading in order to minimize financial and especially emotional exhaustion is not the best choice. A choice for me is that I am developing software in that business area ... is working

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  #147 (permalink)
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Yes, and no matter how much I have tried to explain that one do not loose everything on one trade when one use 2 to 3 % percent risk stop, they still don't get it. Predisposed fear pictures are obviously stuck pretty hard.

Laurus

“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
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  #148 (permalink)
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Lornz View Post
I rarely tell people what I do. I used to tell them I were a student, but I'm getting to old for that now...

I can be tempted to tell them I am unemployed, which technically is true...

As for your example, I always found derivatives trader to be the best... Most people won't ask what it is, and those who do, quickly lose interest if you explain it right...

lol...so true.

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  #149 (permalink)
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zer0 View Post
I find that 'futures trader' gets a lot more favorable response than 'daytrader', or even 'trader'. Somehow the "futures" in 'futures trader' gives the title some form of respectable context. Don't say 'commodities trader' though, unless you enjoy hearing snide remarks regarding pork bellies and the like. Silly, I know. Anyway, I don't much care for the term 'daytrader', so I always describe myself as a 'futures trader', which incidentally, is the most accurate description. Considering Chicago is arguably the futures trading capital of the world, I don't bear the brunt of much negativity; presumably because the interested party knows someone, or knows of someone that works at a local firm. I don't travel a whole lot, so I can't comment on reactions abroad.

I, too, say "futures trader". The response I get is usually "what"? Maybe I'll start saying I'm a stay-at-home dad.

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  #150 (permalink)
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EVIL SPECULATOR


When I tell people I am a day trader, they usually tilt their head in bewilderment. I then say, "You know, the evil speculator who drives up the price of oil." Then they usually say, "oh, so you're the reason we pay so much for gas." "That's right, I'm the one." It usually gets a laugh, but not always.

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