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

  #31 (permalink)
Elite Member
Philly, Pa
 
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tigertrader's Avatar
 
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For me being a trader is as much a part of my persona, as my being married and a father of 6. It is not only what I do, or how I earn my living, it is an intrinsic part of who I am. How could I expect to be successful at trading, if I didnít take pride in what I was doing?

Pride is a precursor to success. Along with confidence, pride is an essential ingredient in a traderís character development. Itís what gives him his drive to succeed, and it is what sustains him when things arenít going well. Itís what also allows him to be gracious and share his knowledge, and help others learn how to trade, without feeling diminished.

Pride is not about arrogance, it is all about having faith in oneself. Confidence comes from putting in the required amount of practice, acquiring knowledge and skills, and breeding it with experience. Pride and self-confidence, are both important prerequisites for self-realization, which in turn leads to the emotional fortitude that is required to become a successful trader.

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  #32 (permalink)
Market Wizard
Boca Raton
 
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Here are the responses after I say I am a future trader and broker:


1) "Do you trade Pork Bellies or Orange Juice"?
2) "What's a good stock to buy"?
3) "What is that?"
4) "It's hard, right?"
5) "Too Stressful!"
6) Uncle Morty: "once a broker called me in 1976 to buy Gold..."
7) "Do you yell like they show on TV?"
8) "I had a friend who lost all his money trading commodities"
9) "Did you hear of the Hunt brothers?"
10) "Did you learn that in school?"

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #33 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
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I agree with @tigertrader, and I do have a lot of pride. I've revealed in other posts on the forum how during the process of becoming a trader I sacrificed a lot of other things in my life, post-divorce, and it has been nothing short of awesome. I found what I really truly am good at and enjoy, I can't imagine doing anything else.

So when I posed the question it wasn't about how you feel based on someone elses reaction. The question was "why" are they reacting this way? I mean we're just talking about casual conversation stuff, getting a hair cut "what do you do?", at a bar meet some new people "what do you do?", that kind of stuff.

Mike

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

Need help?
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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)
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  #34 (permalink)
Elite Member
UK
 
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Favorite Futures: Futures - bonds, currencies, index
 
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Really depends who is asking and how much follow up questioning I think I'll get.

I rarely say day trader, since I'm quite happy that 'trader' covers day trading, and occassionally people react negatively to day trader. I say various other things - IT from home, investor, programming.

I do get rather bored though with - oh, can we have a drink and a chat about that as I'm trying to get into it. I usually just say that they'd be much better off with a book since I can't easily describe what I do.

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  #35 (permalink)
Elite Member
Buffalo NY
 
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I get mixed responses. Most of the people that I talk to dont think its a real way to make money. They are locked into their 9 to 5 mentality for 40 years putting money into their 401K. To them its the only way to invest. I tried explaining it a few times but I only get a "deer in the headlights" look or a "cow at a new gate" look. To them if you dont go to a school and get a degree your wasting your time. If there is one school I think we all have gone to is the school of trial by fire. Trading takes alot of screen time and knowing what you are doing. It took me 6 years before I became profitable on a consisant basis. It was worth the effort.

VinceB

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  #36 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
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Posts: 753 since Aug 2010
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Lets face it, most people are happy with complacency and security. They have a family and just aren't risk takers. They just aren't willing to spend their free time to venture into a business or trading. Plain and simple, their just happy where they are.

Everyone in this forum is in this business for various reasons; they lost their job and can't find another job, they're retired and looking for additional retirement funds or to still be productive in their lives, a full time employee looking to increase their retirement benefits. And then there are some of us who truly love this business and can't see themselves doing anything else for a living.

I also believe that we're in the kind of business some people just don't understand and they may look at traders as another Bernie Madoff which is still fresh in the back of their minds. There are many occupations that the average Joe despises, like politicians, lobbyist, and more common lawyers, hell even most doctors are disliked theses days because of a few bad ones.

I have to agree with tigertrader and be proud of what you do for a living, I know that I am.

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  #37 (permalink)
Just starting out...
TAIWAN HSINCHU CHUPEI CITY
 
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Favorite Futures: FUTURES
 
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MWinfrey View Post
The funny thing about people who have a negative view of trading in general
- may have a retirement account
- depend on a broker to make the selection on how to "invest" their money
- depend on traders to increase the net worth of their retirement account

AND yet they look negatively on us doing all that for ourselves.

I ONLY BELIEVE THAT, ONLY SELF CAN HELP SELF TO MAKING MONEY FROM THIS FULL OF RISK AND INTEREST OF
MARKET.


JOSHUA CHEN
FROM TAIWAN

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  #38 (permalink)
Site Administrator
Manta, Ecuador
 
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JOSHUA CHEN View Post
I ONLY BELIEVE THAT, ONLY SELF CAN HELP SELF TO MAKING MONEY FROM THIS FULL OF RISK AND INTEREST OF
MARKET.


JOSHUA CHEN
FROM TAIWAN

Hi,



Please do not post in all CAPS, it is considered YELLING and rude.

Thx,
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.

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The following user says Thank You to Big Mike for this post:
 
  #39 (permalink)
Just starting out...
TAIWAN HSINCHU CHUPEI CITY
 
Futures Experience: Beginner
Platform: TRADESTATION
Favorite Futures: FUTURES
 
Posts: 5 since Dec 2010
Thanks: 1 given, 5 received


MetalTrade View Post
I tried several times, but nobody gave me a negative reaction. They only kept silence. I guess they were to polite to say something negative ?

AS USUALLY U JUST SHOWING UR TRADE LIST OF DAY TRAD,AND THEN LOT OF PEOPLE WILL GIVE TO U LOT OF REPLY. AT LEAST IT IS WORKING IN TAIWAN!


JOSHUA CHEN
FROM TAIWAN

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  #40 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
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vinceb View Post
I get mixed responses. Most of the people that I talk to dont think its a real way to make money. They are locked into their 9 to 5 mentality for 40 years putting money into their 401K. To them its the only way to invest. I tried explaining it a few times but I only get a "deer in the headlights" look or a "cow at a new gate" look. To them if you dont go to a school and get a degree your wasting your time. If there is one school I think we all have gone to is the school of trial by fire. Trading takes alot of screen time and knowing what you are doing. It took me 6 years before I became profitable on a consisant basis. It was worth the effort.

VinceB

6 years is an interesting number because many claim it took them 5-6 years before they became profitable . 10,000 screen hours is another one I see thrown around and I believe both because any business venture potentailly will take tremendous time focus and experience before you produce an income . I was in retail for 15 years while my children were very young and it was a "good" job like we should all have according to "everyone" . During those 15 years I saw 3 companies change hands and many managers / supervisors and above store level folks that commited much of their lives to these companies face major demotions and terminations in the changeover . Point is nothing is guaranteed even a "good" or "secure" job and finally I left and went to work for myself and aligned myself with other self thinkers and do OK for myself and accept that is my total responsibility to take care of me and my own .

So for me trading is additional income and although at first my goal was to trade for a primary source of income Ive come to realize that I enjoy what I do and who I am and trading is a segment of all those things .

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