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

  #51 (permalink)
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Xeno View Post
On a more serious note, we pay to play because the rewards are potentially so great. People who also sink 50k into starting a business are paying to play too. Don't we also say that people who can't afford to lose the money shouldn't trade.

Yup, you are exactly right.

Mike

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  #52 (permalink)
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I got tired of the negative responses I got when I said I trade for a living, so now I just say I run porn sites and people treat me much better.

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

My daddy always said, "Every day above ground is a good day!"
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  #53 (permalink)
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ThatManFromTexas View Post
I got tired of the negative responses I got when I said I trade for a living, so now I just say I run porn sites and people treat me much better.

... but the sad thing is, it's funny because there's a grain of truth in it. Maybe I should just tell people I'm a male prostitute so they stop judging me.

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  #54 (permalink)
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Great and some funny responses so far. Thks.
I say I do probability studies, and if there's a further question re in what... insurance? medical? etc. I say it's for a small private fund. I want to leave the door open for the remote possibility the other person has a genuine interest, and I first need to get a sense of where they're coming from. Otherwise, I only talk with close friends or other traders. Learned long ago not to use the word 'futures' or 'trading'. Too often brought an emotional fear or greed response.

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  #55 (permalink)
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Since my full-time job is writing software for businesses/enterprises I just say I'm a software engineer, and on the side I write programs that trade for me. Most people think that's pretty cool, especially other programmer friends. If they ask for more details and I explain more about how I trade, half of them want to write me a check to trade for them, especially if I show them cherry-picked backtested equity curve

If I wanted to be snooty I could say I'm a "statistical arbitrageur" and then if they want more details I can quote something from Taleb to impress them. That goes over well down at the country club.

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  #56 (permalink)
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hmmmm

ive been lucky so far, i own my own company so i just tell people that,and i add that i trade on the side but it seems like most of them think oh he's rich and has a hobby trading,but thats fine with me i never tell them i make as much if not more trading then my small company make's but this year i will sell my company and just trade so i need some new excuses to explain to people what i do,maybe ill just say im retiered, i dont know yet lol, great thread...sharky

KILLING THE MARKETS DAILY
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  #57 (permalink)
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shodson View Post
Since my full-time job is writing software for businesses/enterprises I just say I'm a software engineer, and on the side I write programs that trade for me. Most people think that's pretty cool, especially other programmer friends. If they ask for more details and I explain more about how I trade, half of them want to write me a check to trade for them, especially if I show them cherry-picked backtested equity curve

If I wanted to be snooty I could say I'm a "statistical arbitrageur" and then if they want more details I can quote something from Taleb to impress them. That goes over well down at the country club.

On a side note, I recently had a prospect call me to help them convert an Excel-based process to an app that they use with their clients to properly price and hedge mortgage loans. They've had a hard time trying to find a programmer that can understand what they want. They started talking about hedging and I said, "Yeah, so if you're a lender you would hedge your loan by shorting an MBS (mortgage backed security), or some other fixed income asset, right?" and they were blown away that I even understood what shorting was, let alone hedging MBSs.

Knowledge of trading enhances other parts of my life


Last edited by shodson; January 3rd, 2011 at 05:53 PM.
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  #58 (permalink)
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When people ask me what I do, I just tell them "as little as possible". That shuts up most of them...the ones that really care will probe more and then I tell them I trade oil for a small hedge fund. (that would be me). They dont need to know there is no real fund nor that I am the only client, investor, trader. If they probe even more, then I tell them the fund has a non disclosure policy. That's usually the end of it. Some get real curious after that and if I know them well, I might tell them more but I really try to keep it as quiet as possible to avoid the odd looks and negative comments.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #59 (permalink)
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  #60 (permalink)
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I used to shout out loud when I got annoyed : "I MOVE WHITE MOUNTAINS"

That kept them quiet for a while...

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