I might need help

[That One Guy 10]

Hey, Doc. I may have a problem. I have a problem, where I have a father who has all the trading problems I have learned to disagree with. He is 50 years old and I am 21, why is it that, I often talk down on his trades. I, tell him him he should take profits and should do this and that. He often gets angry and discouraged with my comments. My, mother will often come to me and tell me to stay out of it. What should I do here, I feel like he has become the herd and just reacts like most others, so I tell him no don't do this. However, with life in general, it seems most people are the herd and theres no hope. Is there anything I can do to just slow this thought process down or just forget about it?

One thing is, my dad doesn't make a living off trading, it's just hard to see someone, that got you into the idea fail so hard. Any info will help, Also being drunk this week, I seem to get very one sided and caused a problem. I know alcohol seems to blame, but my father has been trading the same way for 20 years. I dunno, merry Christmas and a happy new years to all, but this stuff just throws me off. If anyone can help me out I'd appreciated it. :crap:

[Sparrow 10]

Hi J, maybe you could give him Justin Mamis', When to sell as a christmas present. It might not be that up to date being written in the 70s, but one of the first chapters is called the neurotic investor.

It describes perfectly how the herd is trading. The book is about investing though, not day trading.

 

Losing traders should paper trade until they think they have an edge without deluding themselves, everything else is gambling.

 

Hope it helps a little.

[Soultrader 12]

Hi Jwhite,

 

I had to go through a similar incident myself. My folks are terrible investors without the slightest clue. I have had plenty of battles with them on the topic of money and career. My folks do not approve of my career as a trader but prefer the stability of a monthly paycheck. They do not understand that I consider a monthly paycheck to be the most risky compared to one who can generate his/her own money.

 

Unfortunately my folks are as stubborn as I am and I have not dealt with this problem positively. In fact, I dont think they will ever understanding my view of life and money. So from my situation, the only advice I can give you is to keep on with what YOU do regardless of all that may pull you down. Family is #1 but from experience, even family can drag you under at times. Just know that you are different from your folks and live your life.... not theirs.

[MrPaul 10]

Actions speak louder than words. Take your time, become a success in your trading/investing endeavors, and he will see that you can generate profits while he struggles to.

 

The Teacher appears when the student is ready...

 

Happy Holidays!

[smwinc 20]

The Teacher appears when the student is ready...

 

Completely agreed. You will drive yourself spare trying to help those who don't want to be helped.

 

SMW

[That One Guy 10]

Thanks for the advice everyone. Trading hasn't really ever stressed me out, all that much. However, when trying to set my father in the right direction, this has caused stress. I'm just going to prove it to him with own success overtime.

Thanks everyone and have a great Holiday and a Happy new year.

[SunTrader 10]

I'm sorry but although you might know a lot for a 21yrs old and your father at 50yrs old may be naive about the markets - you are not the one to tell him how to trade/invest. He has earned the right to do as he wishes. Continue on your trader path if you are successful but keep it seperate from what you dad does. Money can destroy relationships if you let it and that would be tragic.

[That One Guy 10]

Yeah you hit the nail on the head man. I'll will just attend to what I do and nothing else. I'll use him to learn what not to do, since he does the stuff that ruins people. He actual might have been one of the best tools for training me. It's one thing to read about people blowing out there accounts, buts it a whole other deal to experience or see it first hand.