Discourse with Fellow Traders, Not Co-workers.

[marktheshark 10]

I've spent a lot of time and plain hard work developing an options trading strategy that actually performs. It is very gratifying to finally reach a point where I am confident I can make money trading options. Maybe someday I'll be able to quit the 9-5 routine and live off of passive income.

 

Until recently, I have been sharing my trading travails with co-workers - people who know nothing about trading, let alone options. I have received some positive feedback, mainly in the form of philosophical analogies or simple supportive phrases such "very cool".

 

Overall, however, there is a lack of true appreciation by non-traders of the struggles involved in starting a trading system. Often there is cynicism regarding the markets in general. Don't get me wrong - these are great people I work with. They just don't trade. Come to think of it, it is a little unfair of me to expect anything more.

 

This is my first post in TL. It is simply an attempt to open lines of communication with fellow traders, rather than non-trading co-workers.

 

Perhaps others have had a similar experience with non-trading co-workers and friends when trying to get a trading system off the ground?

[bakrob99 11]

When you talk to non traders they can't relate to the possibility of making a living without the guaranteed paycheck at the end of the week. And if you come across as 'I'm going to give up this 9-5 job and gain my freedom and wealth' ... well, they have no way to accept that without having to admit their own condition is not what they want.

 

Having said that, option strategies can be the most complicated subject requiring some sort of math degree just to figure out.

 

You're better off keeping your trading to yourself and other traders. Don't rub in your success onto those who would not have it.

 

Good luck with your trading and welcome to this forum.

[jpennybags 11]

Yea... better off not trying to talk shop with folks not in the business... eyes will glaze over... you've lost them inside of 30 seconds (they're just being polite after that... or worse, they're quoting trading axioms that they've heard in the past... like they understand). Just smile and say: "it's going great"...

 

Welcome to the forum.

[marktheshark 10]

Thank you both for your advice.

 

I won't initiate trading discussions with non-traders. If asked, I'll simply say something generic like "It's going fine".

 

Overall, I'm appreciating more and more that trading is a uniquely individual experience.

[illcrx 10]

I go through the same things, I am the only one I know that is even remotely interested in the markets. It is tough trying to quantify theories only in your head without outside reflection and opinion. But the "glaze" is all too real unfortunately, I think because most think that what we do is a crap shoot at best and they do not really understand the capital markets as a whole let alone do they understand that with hard work, understanding and a lot of luck you can actually make it. Its the entrepreneurial spirit vs. the working Joe, Joe likes it safe and you talking about your gambling addiction is against his/her religion.

[Splint 10]

People can be categorized into one of two groups, those who understand or are in the learning phase of trading and those who are not.

 

It amazes me how many people cannot understand the concept of getting out of a loosing position at a small loss to try and get your cash into a gaining position, the standard response is "Can't you just hold on until it gets back to break even?".

 

The next stumbling block is convincing people that you can be loosing money when the market is rising and making a profit when the market is falling, people just tend to nod and smile when I try and explain that one.

 

Although I tend to be fairly reserved and elusive in telling people if I'm making or loosing money at any given point, they seem to have trouble grasping the concept of draw downs being statistically inevitable, and that I'm not going too well if I'm not constantly turning a profit. People also don't understand that trading results of less than say, a two year period are not overly representative of the systems performance or traders ability as even the best systems can have bad years.

 

I think that to understand trading, you actually have to open an account and actually do some trading, and when discussing trading win non-traders you just need to keep that in mind and give appropriate responses to questions.

 

In the near future I'll be making my first attempt at creating a trading system. Currently using some commercially available systems through a system assist broker and also using a system running in Multicharts with IB.

 

Welcome to the forum marktheshark.

 

Cheers

Splint

[tenfold 10]

I work as a dealer and some colleagues wouldnt even put their money at risk, or even put their money where their mouths are.

 

I can totally understand how you feel.

[kevin78 10]

HI,

I am new in this forum and have about 8 months experience of trading options.

So, I am willing to learn and go on learning... it's a great but risky field and I like it.

 

But, from my experience with people and friends, most of them are afraid to deal with two things:

1. money.

2. free time

 

I, in the other hand like dealing with both, so here I am...

hoping to learn and trade more.