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I try to avoid the question as much as possible. I find it's just too difficult (and vast) to explain in a casual conversation. If im pushed for an answer ill tell them and then prepare for the inevitable:
"Wow that's really risky hey! You should be careful"
"I have a friend who did that and lost everything"
"But you could lose everything"
"So like, do you buy facebook shares hey?"
etc...
I invariably use that time to think of ways to change the subject as fast as possible.
Maybe some people get a kick out of telling people they trade for a living. Cool, no problem with that. For me I just cant be bothered to explain and defend the inevitable criticisms.
However on the other hand if someone genuinely shows an interest and is willing to be open to what real trading is actually about, then great! However that doesn't happen very often.
The answer lies mostly on the country you live in.
In traditional banking countries the level of acceptance to "deal" with money even as a private person
is much higher than in "non-"banking countries.
As an example of where I live everyone who gets a salary has a private pension account where stocks are
hold. So after the year ends everyone wants to know how the pension fund made gains and what plus the
new statement shows. There is of course a big relation between the economic growth and the gains
in the funds. As many people privately do own stocks they are always connected with the markets.
A good measure instrument is the media like tv, radio and newspaper in a country: Have a look at
how many times media is talking in normal channels about economic development as well as forex
changes. Count the pages of a normal daily newspaper to see the money-connection.
Yes I have learned to keep my mouth shut when it comes to telling people what I do. If its someone under 25 then they often have a bit more cop on and usually might want to learn but the older people mostly just sneer and scoff at you while thinking your now a total loon and desperate.
If asked by people you regularly meet the best way is to reply with something along the lines of retired, I do as little as possible, etc etc then they will leave you alone. If away from the roost then you can tell em whatever takes your fancy...... depending on how good looking she is...LOLLL
It's nice, people asking what do you do for a living and you saying - I'm unemployed. People tend to look at you with a sad face and saying - that's tough - and I'm saying - yes it is but I'm looking at it as a major life opportunity. They tend to say - I wish all the best to you - and I say - thank you!
Also, it's a nice way for you to get rid of those painfully salesmen that try to sell credit cards and all the crap they sell nowadays over the phone and shopping centers.
If I become half a percent smarter each year, I'll be a genius by the time I die
I heard Peter Schiff comment on trading as a profession Friday. Thought it was interesting and fun.
He approved of trading as long as it wasn't gov't funded (lol, when I heard that).
"I manage my own money" is all I have to say and say it with confidence. If need be, I explain as "trading/investing". People usually interpret that as though I have good sum of money worthy of "being managed", but so be it. If one day I become very successful with lifestyle to support it then I will not hesitate to simply say "I am an independent trader" instead of trying to find fancy terms to mask what I truly do.
However, I think the more profound question is can we honestly answer our own question with true pride for what we do.
I will admit that I can not call my "profession" as honorable as I would doctors, teachers or firefighters. I have thought about this from time to time --- where is my pride from? Yes I can argue that I provide a minute piece of liquidity for the market place, and because of people like me there is an industry existing and many others' employments rely upon our existence. I am not sure this thought would create enought pride in me. However in the end, I do find peace and take pride in what I do for the aspect that I am unemployed (which also means another person can have my job) and yet I never line up in government welfare office to apply for handouts, and I pay taxes if I make profits. How many Americans live on some form of government handouts? Well you know the number. I take pride in that I take care of myself and not being a burden to society. I take pride in that if I make good profits if I wish I can write a nice check to charities.
