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Using the term Day Trader is always perceived negatively. I just tell people I manage a small private hedge fund. At least people accept it as a real job, but you still get people that hate Wall St and blame traders for their losses in the market, 401k, etc. Not much you can do about that.
I am a full time trader from India and people here dont see Trading as a respectable career. The main reason being that they have hardly seen anyone making respectable living from trading. Its a well known fact that 95% traders fail so this perception is legitimate.
The only way to earn respect and recognition from general people is to earn handsomely from trading. When they see someone earning loads of money, they tend to respect and envy their profession be it trading or something else. Its a normal human psychology.
Well, I'm not there yet, but when I am...I'll just say I'm in the business similar to ebay, I buy and sell. Besides every time I bring up a subject of trading for living people immediately think of Gorden Gecko, of the movie Wall Street; and the infamous Madoff. Most people with the "watch the clock" work mentality will never understand what traders do or go through...it would be pointless to try and explain let alone convince.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
I agree with Mike, about the negative attitude of people to trade in financial markets and traders. Very few people call the work on the stock exchange work and no play. But I always say that I'm trading in the currency markets and intend to go only to this work. Convince people that what your occupation is not worse than another pointless waste of time. Therefore, the easiest way to making her favorite thing to ignore the stupidity and malice facing you because you are a trader
I never really thought about how people respond to me when I say I am a daytrader, but my neice had to write a paper on what someone in her family (other than her parents) did for a living. After spending an hour and a half trying to explain to her what I do, she came up with this statement.
My uncle is a Currency Specialist. He studies, and benefits from, the inefficiencies of the world currencies.
Probably not the best answer, but I thought it was pretty good for a 14 year old. I liked the Currency Specialist title. It made me laugh. I will have to use this title and explanation the next time someone asks me what I do.
Before I start I have to say I have very nice friends most of whom would help me at the drop of a hat BUT
1)Some think that trading is not an occupation but a bit of luck and that a dummy like me should always share my tips with them so they can profit too. What Tips!?!, I think. So I keep quiet.
2)Some see me as a fat banker tying grandmothers to railway tracks. My hippie friends. So I keep quiet.
3)Some panic and I get a tirade of gasping warnings about being addicted to gambling. So I keep quiet.
4)Some say teach me and I'll give you all afternoon. Boy do I keep quiet.
Suspicion, jealousy, fear of losing me to the devil, and, oops, I almost forgot, you're not actually working when you're in front of the screen so it's let's talk/grab a drink/move my house, etc. It's pretty well never good. I was a photographer for 30 years and the response was the exact opposite. Enthusiasm, interest even respect, I never had to hide my career one little bit but now I lie like a dog. Me a trader, Hah! Not in this lifetime Buddy.
This is the function of Big Mike. So Big Dave here can be himself.
I owned a photography studio for 30 years. When I told folks I was a professional photographer, I got no respect at all; even though I put two kids through college and took my wife on 15 cruises, among other things.
I have only been trading for about 8 months and have kept quiet about it to most. Just last week, I was asked what I did and I replied that I traded futures. The guy actually laughed.
I think I will just say I sold my business and do as little as I can get away with.
You too? You're 100% right about the respect. We used to call ourselves the house clown & the poison taster when we were out on the job chasing the wedding cars down the road and apologizing to every second person we met. I love trading and a fair bit of it is that I'm very unlikely to meet anyone dressed in all white and dying to discuss her gorgeous bouquet when I trade.
No, the respect part in photography came from my friends who thought that I spent all day greasing down the models and cracking jokes with celebrities. I was earning a living having fun from their point of view plus being creative instead of the daily grind. Well, aside from you and my suffering buddies in the wedding & Bar-Mitzvah business who understands? We know that trading is bliss by comparison. I just find that people think I've betrayed my artistic vision, sold out etc etc. I thought that the fact that I was doing backflips instead of weeping on their shoulders might show them how I felt about my career change but no.
I smile to myself.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
Follow the leader up the ladder pole.