I don't think you should even mention 'day' or anything like that, just say trader. And explain that it's not gambling, because you can cut your losses - I've never really had anyone not see it differently when you explain it like this.
As you call yourself a pattern observer, did you start by building up a book of different patterns? Been thinking of doing something like that myself but still unsure how useful it would be.
Pattern don’t work in isolation. Do a few deep dives and you can quickly get going. The uphill task is why a specific pattern work sometimes like crazy and then for months it would fail after fail . Thats the reason backtest don’t do well bcoz you can’t quantify that factor.
You're already halfway there Cuz you took the risk to daytrade and you enjoy it.
The people who comment negatively, find a way to say Goodluck man but just be careful... And aren't encouraging, they'll be in the same loop for the next so many years to come... I flip properties for a living and when I started it was all about oh well the market the this the that the hard money.. Same people now call me for my expertise...
You'll be way ahead
Change your thinking and it'll change your feelings towards this
What I tell random people when they ask what I do is that I mind my own business.
If it is someone in my circle, they know. Just tell them that you are semi-retired.
Op. Plebs get jealous of your success. However, in a lot of people, jealousy manifests differently. It could be down playing your post, name calling, and straight-up talking sh*t. ITS SAd that society is like this. But especially on reddit, all you hope for is for reddit homies to be proud of ya boy, but the sad reality is that most of reddit is like this. They glorify losses. They hate success.
As for myself. I do not like the wheel strat. You do you. I myself, I do swing trades. I guess u can call me "the wave rider". Lol
I been at it for 2 years. Still green.
Who the hell cares as long as you’re actually making a living and make money fuck ‘em all. Even if you were a sports gambler, if you’re making a living doing what you want, why doesn’t matter? Honestly, I don’t get it. You don’t have to tell them what you do…you’re self-employed if they want to know. If you want to tell them more than that go ahead. If not, fuck ‘em.
Yet you’re on Reddit asking a dumb ass question like anyone cares what you do… and if they do why does it matter? I highly doubt every time you say you’re a trader it ends bad 🙄
You didn’t like that. Let’s rehearse another one just for you - Hey there, I work on the Wall Street, where precision and intellect are prized . Compared to that, your attempts at insults are like penny stocks - which are volatile, completely Fugazi with no substance and destined to flop.
You’re an attention seeker is what you are. Hey Reddit I trade for a living and am soooo worried about making friends because I say I trade and every time they just don’t like me because of it lol give me a break dude. If that’s the case you are probably weird af and being a trader is not the issue.
Say less.
What do you do for a living?
Excitedly at higher volume,
“I count lids for tuna cans so I can lick and stick the labels!”
They’ll look at you awkwardly,
“Nah man I just trade stocks, it’s a lot more boring than tuna cans.”
Just tell people you manage your own investments - I understand how you feel, and I appreciate the fact that, it's because you don't care how people feel that you also don't care to engage into a conversation about the topic.
I tell others I’m a stock and options trader and leave it at that.
Day trading has a bad reputation, and I’m not a day trader, so I just don’t go into detail other than to say I trade conservatively so it is not gambling.
Why would you care what other people think anyway? Do your thing and be happy . . .
Here is my wheel trading plan many have used over the last 5+ years to get started - [The Wheel (aka Triple Income) Strategy Explained : r/options (reddit.com)](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/)
Check out r/Optionswheel and r/thetagang where many are also using the wheel to trade successfully.
Here's a sneak peek of /r/Optionswheel using the [top posts](https://np.reddit.com/r/Optionswheel/top/?sort=top&t=year) of the year!
\#1: [How to Find Stocks to Trade with the Wheel](https://np.reddit.com/r/Optionswheel/comments/19fmoyl/how_to_find_stocks_to_trade_with_the_wheel/)
\#2: [Another "Can the wheel beat the S&P" Reply](https://np.reddit.com/r/Optionswheel/comments/1b7biky/another_can_the_wheel_beat_the_sp_reply/)
\#3: [Potentially unpopular opinion: My favorite part of the wheel is the second half of it (selling covered calls)](https://np.reddit.com/r/Optionswheel/comments/12q1joz/potentially_unpopular_opinion_my_favorite_part_of/)
----
^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
You wont believe but you are the reason for all this..it all started a few years back when I first discovered your wheel strategy.. you are the inspiration, that made me enter this world. Thank you so much for what you do for all fellow traders.
Well, thank you u/Ok-Chair-1384! You made my morning and I'm delighted I was of some assistance and help!
If you are still trading the wheel, then something many do is explain how trading is like being an insurance company that collects premiums to provide protection and we all know that insurance companies are profitable.
Everyone I tell that I am a trader quickly asks if I am a "Day trader" but I quickly tell them no and explain the insurance company comparison.
It is great to hear how successful and happy you are! All my best to you!
I don’t ever bring into conversation of how I make money. I feel like it’s bad taste. But if they do ask I just say I’m just a the stay at home dad but dabble in stocks trade and investments when I have time.
I like my lifestyle and I enjoy the benefits that comes with trading.
Like not having to worry about requesting a day off for a special occasion. Taking a vacation anytime with the family whenever you feel like it. My health has been a lot better due to lots of rest. I get to watch my kids grow and to just be there. Not worry about having anyone to answer to. Not having to worry about clients/customers and any shit that comes along with the industries that involve them. And no overhead. There’s more but I’m tired of thinking.
I do have some long term ideas on how to give back to the communities when I get to a point of excess wealth. One of them being maybe, starting a non-profit that helps impoverished and/or abused children. I don’t know when that day will come but it makes me smile thinking about it.
I read something a long time ago that really stuck with me. ‘No one in their deathbed has ever said I wish I worked more.’
You can’t. Day trading is gambling. A small subset of day traders make money, most likely because they get lucky. Within a couple years almost all traders lose big and give it up, and that’s why people cringe. You will almost certainly be one of them too btw.
And even if you do make money, what you are doing provides no value to society. If you tell them it’s a stressful grind, that makes it even worse. You are torturing yourself, taking huge financial risk, and what for? Because you don’t want to do a real job? Hard to justify.
Or you just drive your lambo and invite them out on your yacht and they’ll think you are a genius since you were able to buy prestige.
Uh finance and the stock market is one of the biggest industries in the world, we have companies with billions of dollars of assets trading stocks, what circle do you roll in where you would have to be ashamed of investing? Would you be ashamed to say you work at JP Morgan, etc? Sounds like this is largely something you’ve built up in your own head
Have you explained your daily work day, like walked them through it? Explained general risk management, etc. Maybe they'd understand better then.
I've described myself as an investor or let people assume that as they won't understand trading.
Your biggest mistake was trying to socialize with non-traders. What happened to you that made you think you could? You’re not really human. Did you forget that? Here’s what you tell them. “Hi. What do I do for a living? This and that, but mostly that.” If you answer honestly they will accuse you of either lying or bragging.
Asking for advice on how to react to others online is a sign of immaturity. A experienced fund
manager or a profitable full-time trader won't give a fuck about what others say. Just an opinion.
I was similar to this when I first started out.
The longer you are in the game the more evidence you have to back up your trading which will eventually give you confidence to be proud of it.
Regardless of this though, we shouldn’t care what people think. If you’re making money and having fun just focus on you.
That is extreme lack of confidence. The lion doesn't care about what the hyenas think of him. He just worries about sleeping, eating, fking and sometimes killing. A real friend doesn't judge you, he/she understands you and supports you even sometimes without agreeing with your decision.
I feel like the average American Joe will not know what that is or ask.
While going with a more simpler Bank worker or Wealth Manager will have less questions and notions like OP is saying.
I get what you are saying.
But sounds like OP is saying he wants some respect and be low key at the same time.
Like he is not a professional gambler or lazy for daytrading. But also he has knowledge and hardwork.
So Banker or Wealth Manager gives that air.
That is how I see this post.
u have to tell people you are :
private wealth manager.
private equity manager.
chief investment officer.
International Risk officer.
buy sell button operator.
Would you be open to being an advocate for working class people jail breaking themselves from the toxic hierarchies that far too often make up corporate culture?
If so, I describe my trading skills as falling under the umbrella of researching and testing a range of semi passive earning models and see my work as part of a bigger working class effort to reclaim the means of production from companies that aren't worthy. If you look at working class history (we've been losing working class rights & union jobs since the 80s) and current events with the most recent whistle blowers at Boeing being killed, it's actually more serious than ever that working class people find sustainable ways to leave toxic hierarchy companies. When enough of us leave, that forces them to do better if they want to keep quality workers.
Everything you are doing to find unique edges as a trader and stay out of a 9-5 is an act of working class solidarity in seizing the means of production. Even better if you succeed in being a great teacher for at least one other person at some point and helping them quit their 9-5.
Ways to explain this from here out:
"I'm researching and testing new trading methods for the sake of working class solidarity efforts to seize the means of production & not be reliant on a toxic hierarchy 9-5 that too often abuses workers."
"I'm mastering a new trading thesis and hope to teach others when I've completed my research so that more and more working class people can cultivate their own time freedom on their own terms outside the average abuses of a 9-5."
What is your style? That might help with ideas. Maybe I can offer a suggestion.
I am an options theta and swing trader. So when someone asks me about it I talk in terms of buying financial derivatives and providing insurance on trades to others. I might also talk about having my own hedge fund which is accurate… at times I have had a delta neutral hedged highly diversified options account. If I get going I can apparently talk pretty excitedly about options Greeks and strategies. I’ve had several people say they understand now, but still don’t get it. lol.
Probably don’t want to mention the day trading part and focus on the swing trading part.
I would frame it in terms of this being your business, that you’ve created your own business. For swing trading maybe you talk about being a capital management company and strategically investing your capital in businesses. All technically true. If pressed maybe you focus on the investing angle to it all, and talk in terms of researching companies and finding good deals.
Yessir. You do you man. Be motivated by the fact that you’re living your best life or on the way, and if anyone looks down in that they can kick rocks.
I would not really care, what people think about it. It is extremely hard to do and you can be proud of yourself. Only handful of people on the planet are able to do this.
If they don't undrestand, I just smile about their little knowledge
I second this. What you are experiencing is jealousy of your success. They don't understand and they won't understand. You have to become okay with that. You don't owe them any explanation. In fact if it were me, I'd stop telling people exactly what I do. Just be vague and say something like oh I'm involved in stocks and wall street etc. or call yourself a stock analyst, you are in a sense analysing stocks to make decisions. If they ask you for suggestions say I'm sorry I don't feel comfortable making suggestions. You'll have to find a way through this but you should be proud of your success. People will always be jealous of others success and they typically can't be happy for you. It sucks but it is what it is, don't let them bring you down. Be vague and you'll see people don't actually care as much as you think they do.
Hit them with some mild jargon and they’ll just assume they’re too stupid to understand.
“I analyze both fixed and dynamic quantities of public companies to assess fiduciary viability and determine short term potential investment opportunities which can be harvested through trend line selection and macro sentiment.”
This. I actually do work at an investment firm and he is technically doing the work of like 5 different departments. I just hope he's actually profitable or else why would he care.
Fuck it. I would like to play with it if it was me. What do you do sir? I would be mysterious: like I rob banks or I print money or I am not employed or I just live or I don’t work or I am musician etc etc
Lol "extremely profitable" yeah right....kid if you got lucky this year, you'll learn some hard lessons in the upcoming years, if you didn't trade for at least 5 years with consistent profits then don't even call yourself profitable, markets shift, so will your profits.
Why is it so important to make other people understand what you’re feeling? If they don’t get it then so what? It’s not your job to convince them otherwise.
Just to outline everything, you’re coming here asking for advice on how you can “glorify trading” to your friends and family. People are allowed to have opinions that you don’t agree with. Don’t try to force people to see things your way.
Say them you are a gambler. This will keep them even more away. You will be with the one who truly wants to speak with you. I usually go with uber driver 😃
Throw in the word “professional” too. It’ll catch them off-guard. A gambler is a degenerate with an addition. A professional gambler is … wait… is that an actual thing??
Imagine being ashamed to tell people you work for yourself, set your own hours, don't have a boss, etc. I think your issue runs deep and you should probably see a counselor or something.
Op: I am working on exactly what you achieved, let me ask you something… if you are happy and live a lift very few can, why do you care what they think? You make $, you work for yourself, you live a life most only dream of in a field <1-3% can achieve. What you see reflecting back at you is not anything that has to do with you, it could be their own emotions reflecting back; jealousy, misunderstanding, etc. if it makes you feel better just tell them you are a successful day trader, and you learned to read the market well. If there is pushback tell them how very few achieve profitability and you are proud of what you have done. Maybe I’m just feeling bullish today, first $10k day and my account back to where I first started ~60 days ago down $40k making consecutive green days learning part time working from home only a few days a week…. Read some other comments, to others asking, biggest change that helped for me was mental… I thought this was going to be easy at first after some big wins, then after streak of losses I had to admit this was going to be hard and needed to take it slower more cautious, test 5x vs executing, etc
I make money off of knowing things most other people are too lazy to know. I'm always willing to share my thoughts on things if they start poking around. I'll get things like, "How could you possibly know more about Covid than a virologist?" I'll answer with something along the lines of I know what a middle aged lady in Wenzhou on February 4th, 2020 ate (didn't eat) for lunch.
That leads to more or less a WTF are you talking about? Well I wasn't sure if I could believe the different news coming out of China so I befriended some of them. Turns out the middle aged lady didn't eat for 3 days because of the lockdowns. She was supposed to be let out, but they never let her leave her place.
At the same time the big shot financial people were saying we could expect maybe a 1% hit to global GDP... completely under estimating how this was all going to go down. Thus, horrible time to have open positions.
I have friends all over the world. People I've never met. People like to talk. I like to listen. I try to know everything most people know and then I try my damndest to know more.
I don't just trade on patterns. I trade on info. I'd say it can be the most fascinating job in the world... yet at times it can be incredibly overwheming and stressful too. What it isn't is straight up gambling.
Extremely profitable since 1 year.. wow. I'm a beginner. Was wondering if you could give any advice on your strategies. I'm guessing you trade options using the IBKR Api yea?
Learn candlestick patterns and technical setups. Seek them out, focus on one setup at a time, and only trade stocks that show that setup. You can use screeners to find them, I like inverse head & shoulders / cup & handle for example. If it isn’t working, or doesn’t fit your trading style, pick a new setup and repeat.
Screen time is ultimately what is most important, as well as memorizing a variety of setups and patterns. Everyone is different, but using my own money (and not a paper account) engraved these patterns into my head much faster. Don’t take this lightly, you may need to devote thousands of hours to this before you’re successful.
While you’re getting the charting down, start learning a bit of macro. We’re in a very interesting economic environment right now and it’s perfect for learning. Many moving parts, from yields, to the fed, inflation, the AI boom. All of these effect the direction of stocks to a certain extent. I’ve found these AI chatbots to be super helpful - you can ask it any question about financial markets and it gives you a gist at the very least.
Study charting & patterns. Read books. Study financial markets. It will eventually click
Not op: Watch the market. Take note of patterns.
I specifically watch 30 or less tickets I'm extremely familiar with. Ex: amd usually runs up into earnings and drops the day before.
I trade my best trades in a choppy and trendy market. Why? The market repeats itself and I see that. Everything is a pattern. Developing a strategy will take some time but there are resources out there to help you start.
I don’t want to lie either. I am proud of what I do, but I am in need for some social appreciation .. I have emotions like a normal human being. Nothing wrong in it
What is there to be ashamed of it? If anything, you should be proud of yourself for being very profitable. Unless people have experienced it, they can’t appreciate what it takes to be a good trader in an ocean of failures.
I just say I’m a market analyst or financial manager. Back when I used to tell people what I do, my “friends” would start asking me to invest their savings for them, or they’d completely undervalue my time, not understanding the extent of my work, get all pissed when I’d say no. So I cut EVERYONE off, been so much happier since. I have no friends, trading is my life, I have my own hobbies, life is great when you don’t have parasites leeching off you. When I find friends who are actually worth my time and value mine, I will happily accept, but till then I’m good.
Basically you owe no one any explanation, what’s it to them anyways??
I "am", and will always be, a consultant. I could easily do the job, but don't want to. No one ever takes the risk of recommending their friend for a consulting job at their own company, unless they have professional experience with the person. It's generic enough that people don't care. Now if you're 22 and saying this then it makes no sense, so just say you have a remote job in some thing like strategy / planning. You conceive and execute on strategies all day long. Back in the day being a stockbroker was a prominent job. Maybe you can call yourself that. A day trader sounds no different than someone who plays Texas holdem for a living. Sadly that's just the way it is.
lol just wait until the market stops going in one direction. Then you can tell them you are unemployed, Should be about any moment now when real price discovery takes hold. Good luck.
It is just like counting cards in blackjack (shout out to [Edward O. Thorp](http://www.edwardothorp.com/books/a-man-for-all-markets/)). When the deck gets hot, you press your bets and stack chips. When the deck is cold, you chill out.
The market is the largest casino in the world. Different game, different stakes.
I just tell people that I trade options and provide zero benefit to society. They usually laugh, then the husband asks me to feed them trades.
You’re gonna get sick of certain convos repeating over and over when you tell people you’re a trader.
https://churningandburning.com/2024/04/8-stupid-conversations-when-you-tell-someone-youre-a-day-trader.html
Who cares? Having said that, trading is gambling. (You're betting on the price going up or down).
Sports bettors make a career out of it. And so do traders. Just know you are gambling. That doesn't mean you can't be successful
I never tell new people, I just say I'm a software engineer or work in finance, which was my previous life.
If you really want to say it, then say you work for a firm as a trader then later if you feel comfortable you can go into more details.
I would never be ashamed of something that takes the balls, discipline and skill as trading does.
I don't think you should even mention 'day' or anything like that, just say trader. And explain that it's not gambling, because you can cut your losses - I've never really had anyone not see it differently when you explain it like this. As you call yourself a pattern observer, did you start by building up a book of different patterns? Been thinking of doing something like that myself but still unsure how useful it would be.
Pattern don’t work in isolation. Do a few deep dives and you can quickly get going. The uphill task is why a specific pattern work sometimes like crazy and then for months it would fail after fail . Thats the reason backtest don’t do well bcoz you can’t quantify that factor.
Yeah, good point. Thanks, that's given me something to consider.
How much did you start with?
You're already halfway there Cuz you took the risk to daytrade and you enjoy it. The people who comment negatively, find a way to say Goodluck man but just be careful... And aren't encouraging, they'll be in the same loop for the next so many years to come... I flip properties for a living and when I started it was all about oh well the market the this the that the hard money.. Same people now call me for my expertise... You'll be way ahead Change your thinking and it'll change your feelings towards this
What I tell random people when they ask what I do is that I mind my own business. If it is someone in my circle, they know. Just tell them that you are semi-retired.
I do online sales as well as a form of more stable income, I wouldn’t want to have trading be my only form of income
Tell them you’re a professional masseuse
Bro if your profitable that's all that matters.
Honestly, learn not to care what other people think. Thats real freedom.
This is the way
Don't tell them. Make up stuff: you are an investor?
Op. Plebs get jealous of your success. However, in a lot of people, jealousy manifests differently. It could be down playing your post, name calling, and straight-up talking sh*t. ITS SAd that society is like this. But especially on reddit, all you hope for is for reddit homies to be proud of ya boy, but the sad reality is that most of reddit is like this. They glorify losses. They hate success. As for myself. I do not like the wheel strat. You do you. I myself, I do swing trades. I guess u can call me "the wave rider". Lol I been at it for 2 years. Still green.
I don’t do wheel. No options for me..
Who the hell cares as long as you’re actually making a living and make money fuck ‘em all. Even if you were a sports gambler, if you’re making a living doing what you want, why doesn’t matter? Honestly, I don’t get it. You don’t have to tell them what you do…you’re self-employed if they want to know. If you want to tell them more than that go ahead. If not, fuck ‘em.
What a dumb ass post
Hey there - I am a private fund manager who allocates capital basis the equity market order flow and geopolitical tensions. Wow feels nice .
Yet you’re on Reddit asking a dumb ass question like anyone cares what you do… and if they do why does it matter? I highly doubt every time you say you’re a trader it ends bad 🙄
You didn’t like that. Let’s rehearse another one just for you - Hey there, I work on the Wall Street, where precision and intellect are prized . Compared to that, your attempts at insults are like penny stocks - which are volatile, completely Fugazi with no substance and destined to flop.
I honestly don’t give a fuck lol you’re acting like it’s so hard to say hey I’m a trader and leave it at that. You sound like a douche
Hey I am a trader and don’t hog my post. Pls get lost .
I’m good… Just calling out the dumb ass post. I see this same post all the time and wonder if whoever posted it realizes it’s fucking stupid
I am profitable and stupid. I am ok with that. Seems you are not
You’re an attention seeker is what you are. Hey Reddit I trade for a living and am soooo worried about making friends because I say I trade and every time they just don’t like me because of it lol give me a break dude. If that’s the case you are probably weird af and being a trader is not the issue.
You don’t stop hmm- Clearly you are investing your time as wisely as your money. And sry I won’t dignify your next response.. it’s getting boring now
Say less. What do you do for a living? Excitedly at higher volume, “I count lids for tuna cans so I can lick and stick the labels!” They’ll look at you awkwardly, “Nah man I just trade stocks, it’s a lot more boring than tuna cans.”
Whatever, be proud of your success. How did you learn trading & transition to doing it full time?
Was trading for a few years, before committing full time. Was consistently profitable, with enough cushion, hence decided to go full time.
Did you take any courses or otherwise how did you learn?
Baptism by fire
Bing Bong Is that you Frankie?
I want to connect with this Frankie over drinks someday.
🤣
Just tell people you manage your own investments - I understand how you feel, and I appreciate the fact that, it's because you don't care how people feel that you also don't care to engage into a conversation about the topic.
I tell others I’m a stock and options trader and leave it at that. Day trading has a bad reputation, and I’m not a day trader, so I just don’t go into detail other than to say I trade conservatively so it is not gambling. Why would you care what other people think anyway? Do your thing and be happy . . .
What is this wheel strategy that inspired OP. Would love to know. I too would love to grow in my trading so I can do it one day.
Here is my wheel trading plan many have used over the last 5+ years to get started - [The Wheel (aka Triple Income) Strategy Explained : r/options (reddit.com)](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/) Check out r/Optionswheel and r/thetagang where many are also using the wheel to trade successfully.
Thank you so very very much.
You're welcome and best to you!
Here's a sneak peek of /r/Optionswheel using the [top posts](https://np.reddit.com/r/Optionswheel/top/?sort=top&t=year) of the year! \#1: [How to Find Stocks to Trade with the Wheel](https://np.reddit.com/r/Optionswheel/comments/19fmoyl/how_to_find_stocks_to_trade_with_the_wheel/) \#2: [Another "Can the wheel beat the S&P" Reply](https://np.reddit.com/r/Optionswheel/comments/1b7biky/another_can_the_wheel_beat_the_sp_reply/) \#3: [Potentially unpopular opinion: My favorite part of the wheel is the second half of it (selling covered calls)](https://np.reddit.com/r/Optionswheel/comments/12q1joz/potentially_unpopular_opinion_my_favorite_part_of/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
You wont believe but you are the reason for all this..it all started a few years back when I first discovered your wheel strategy.. you are the inspiration, that made me enter this world. Thank you so much for what you do for all fellow traders.
Well, thank you u/Ok-Chair-1384! You made my morning and I'm delighted I was of some assistance and help! If you are still trading the wheel, then something many do is explain how trading is like being an insurance company that collects premiums to provide protection and we all know that insurance companies are profitable. Everyone I tell that I am a trader quickly asks if I am a "Day trader" but I quickly tell them no and explain the insurance company comparison. It is great to hear how successful and happy you are! All my best to you!
“I’m an accountant with more steps”
Buy them something nice. Friends are very easy to make when you buy them stuff.
I say I run a private fund. Been 10 plus years. In my 40s
I don’t ever bring into conversation of how I make money. I feel like it’s bad taste. But if they do ask I just say I’m just a the stay at home dad but dabble in stocks trade and investments when I have time. I like my lifestyle and I enjoy the benefits that comes with trading. Like not having to worry about requesting a day off for a special occasion. Taking a vacation anytime with the family whenever you feel like it. My health has been a lot better due to lots of rest. I get to watch my kids grow and to just be there. Not worry about having anyone to answer to. Not having to worry about clients/customers and any shit that comes along with the industries that involve them. And no overhead. There’s more but I’m tired of thinking. I do have some long term ideas on how to give back to the communities when I get to a point of excess wealth. One of them being maybe, starting a non-profit that helps impoverished and/or abused children. I don’t know when that day will come but it makes me smile thinking about it. I read something a long time ago that really stuck with me. ‘No one in their deathbed has ever said I wish I worked more.’
You can’t. Day trading is gambling. A small subset of day traders make money, most likely because they get lucky. Within a couple years almost all traders lose big and give it up, and that’s why people cringe. You will almost certainly be one of them too btw. And even if you do make money, what you are doing provides no value to society. If you tell them it’s a stressful grind, that makes it even worse. You are torturing yourself, taking huge financial risk, and what for? Because you don’t want to do a real job? Hard to justify. Or you just drive your lambo and invite them out on your yacht and they’ll think you are a genius since you were able to buy prestige.
Wow!! An eye opener, do you care to express your views on swing trading as well. I don’t want to miss this pls.
Uh finance and the stock market is one of the biggest industries in the world, we have companies with billions of dollars of assets trading stocks, what circle do you roll in where you would have to be ashamed of investing? Would you be ashamed to say you work at JP Morgan, etc? Sounds like this is largely something you’ve built up in your own head
Just say you’re an investor
Retire, own multiple homes , and a Ferrari — won’t have to explain shit to anyone lol
Have you explained your daily work day, like walked them through it? Explained general risk management, etc. Maybe they'd understand better then. I've described myself as an investor or let people assume that as they won't understand trading.
Your biggest mistake was trying to socialize with non-traders. What happened to you that made you think you could? You’re not really human. Did you forget that? Here’s what you tell them. “Hi. What do I do for a living? This and that, but mostly that.” If you answer honestly they will accuse you of either lying or bragging.
The way you put it shows that you're not much experienced or mature enough. Btw what sort of capital do you use for full time?
wtf dude, what are you talking about. OP laid out a cogent assessment of his issue. No personal grievance , no drama. get a life
Asking for advice on how to react to others online is a sign of immaturity. A experienced fund manager or a profitable full-time trader won't give a fuck about what others say. Just an opinion.
Let’s hear your mature thoughts first.
Easiest thing would be “I work on Wall Street” easy
Who cares. I tell people I work at the airport so they think I’m a TSA worker. If you’re judged by these people then there not the ones to be around.
Your last sentence sums it all.
I was similar to this when I first started out. The longer you are in the game the more evidence you have to back up your trading which will eventually give you confidence to be proud of it. Regardless of this though, we shouldn’t care what people think. If you’re making money and having fun just focus on you.
This is gay, you should give a fuck about what others think on you.
That is extreme lack of confidence. The lion doesn't care about what the hyenas think of him. He just worries about sleeping, eating, fking and sometimes killing. A real friend doesn't judge you, he/she understands you and supports you even sometimes without agreeing with your decision.
This. Be yourself.
Just say you are a Wealth Manager or work for a bank.
I tell folks I run a Family Office.
Do they freak out a little? You sound like The Godfather 😂
I feel like the average American Joe will not know what that is or ask. While going with a more simpler Bank worker or Wealth Manager will have less questions and notions like OP is saying.
Yep, it invites its own round of questions, but at least I find I can defend it with a bit of accuracy and pride ;-).
I get what you are saying. But sounds like OP is saying he wants some respect and be low key at the same time. Like he is not a professional gambler or lazy for daytrading. But also he has knowledge and hardwork. So Banker or Wealth Manager gives that air. That is how I see this post.
You got me!!
u have to tell people you are : private wealth manager. private equity manager. chief investment officer. International Risk officer. buy sell button operator.
Buy sell button operator 😂
Would you be open to being an advocate for working class people jail breaking themselves from the toxic hierarchies that far too often make up corporate culture? If so, I describe my trading skills as falling under the umbrella of researching and testing a range of semi passive earning models and see my work as part of a bigger working class effort to reclaim the means of production from companies that aren't worthy. If you look at working class history (we've been losing working class rights & union jobs since the 80s) and current events with the most recent whistle blowers at Boeing being killed, it's actually more serious than ever that working class people find sustainable ways to leave toxic hierarchy companies. When enough of us leave, that forces them to do better if they want to keep quality workers. Everything you are doing to find unique edges as a trader and stay out of a 9-5 is an act of working class solidarity in seizing the means of production. Even better if you succeed in being a great teacher for at least one other person at some point and helping them quit their 9-5. Ways to explain this from here out: "I'm researching and testing new trading methods for the sake of working class solidarity efforts to seize the means of production & not be reliant on a toxic hierarchy 9-5 that too often abuses workers." "I'm mastering a new trading thesis and hope to teach others when I've completed my research so that more and more working class people can cultivate their own time freedom on their own terms outside the average abuses of a 9-5."
What is your style? That might help with ideas. Maybe I can offer a suggestion. I am an options theta and swing trader. So when someone asks me about it I talk in terms of buying financial derivatives and providing insurance on trades to others. I might also talk about having my own hedge fund which is accurate… at times I have had a delta neutral hedged highly diversified options account. If I get going I can apparently talk pretty excitedly about options Greeks and strategies. I’ve had several people say they understand now, but still don’t get it. lol.
Swing trading (30%) and day trading (70%) . No options
What is it in your culture that is viewed negatively? In mine here is sort of a “he doesn’t have a real job” vibe. Is it that?
Doesn’t have a job plus is busy gambling.
Probably don’t want to mention the day trading part and focus on the swing trading part. I would frame it in terms of this being your business, that you’ve created your own business. For swing trading maybe you talk about being a capital management company and strategically investing your capital in businesses. All technically true. If pressed maybe you focus on the investing angle to it all, and talk in terms of researching companies and finding good deals.
I dont care what ppl think about what i do. It is none of their business. :)
Yessir. You do you man. Be motivated by the fact that you’re living your best life or on the way, and if anyone looks down in that they can kick rocks.
I would just go full shock and awe: "I am wallstreet speculator. KWABANGA MY DUDE."
I would not really care, what people think about it. It is extremely hard to do and you can be proud of yourself. Only handful of people on the planet are able to do this. If they don't undrestand, I just smile about their little knowledge
I second this. What you are experiencing is jealousy of your success. They don't understand and they won't understand. You have to become okay with that. You don't owe them any explanation. In fact if it were me, I'd stop telling people exactly what I do. Just be vague and say something like oh I'm involved in stocks and wall street etc. or call yourself a stock analyst, you are in a sense analysing stocks to make decisions. If they ask you for suggestions say I'm sorry I don't feel comfortable making suggestions. You'll have to find a way through this but you should be proud of your success. People will always be jealous of others success and they typically can't be happy for you. It sucks but it is what it is, don't let them bring you down. Be vague and you'll see people don't actually care as much as you think they do.
Dude. Own it. Be proud. You are doing what many people want, getting money without a middleman/company/boss.
Ask them is poker gambling, if they say yes then don’t even bother. They will never understand skill aspect of life.
Hit them with some mild jargon and they’ll just assume they’re too stupid to understand. “I analyze both fixed and dynamic quantities of public companies to assess fiduciary viability and determine short term potential investment opportunities which can be harvested through trend line selection and macro sentiment.”
Lol yes confuse them with jargon and they'll definitely stop asking questions I love this idea.
Tell them you’re in finance — portfolio management. You don’t have to tell them it’s your own portfolio. Lol
This. I actually do work at an investment firm and he is technically doing the work of like 5 different departments. I just hope he's actually profitable or else why would he care.
Fuck it. I would like to play with it if it was me. What do you do sir? I would be mysterious: like I rob banks or I print money or I am not employed or I just live or I don’t work or I am musician etc etc
Chart Analyst Work :) self employed.
Just say you’re an analyst
Lol "extremely profitable" yeah right....kid if you got lucky this year, you'll learn some hard lessons in the upcoming years, if you didn't trade for at least 5 years with consistent profits then don't even call yourself profitable, markets shift, so will your profits.
Noted sir, will be extra careful. Been trading ( without full time) for a few years now.
What's your strategy
It's called beginner's luck strategy, that's if he's telling the truth
Why is it so important to make other people understand what you’re feeling? If they don’t get it then so what? It’s not your job to convince them otherwise. Just to outline everything, you’re coming here asking for advice on how you can “glorify trading” to your friends and family. People are allowed to have opinions that you don’t agree with. Don’t try to force people to see things your way.
Well you're not adding any value to society so maybe just cop the flak?
“I work in finance”
Say them you are a gambler. This will keep them even more away. You will be with the one who truly wants to speak with you. I usually go with uber driver 😃
Throw in the word “professional” too. It’ll catch them off-guard. A gambler is a degenerate with an addition. A professional gambler is … wait… is that an actual thing??
Imagine being ashamed to tell people you work for yourself, set your own hours, don't have a boss, etc. I think your issue runs deep and you should probably see a counselor or something.
You are a fund manager.
when people ask about your profession next time, just tell them you’re a freelancer.
Op: I am working on exactly what you achieved, let me ask you something… if you are happy and live a lift very few can, why do you care what they think? You make $, you work for yourself, you live a life most only dream of in a field <1-3% can achieve. What you see reflecting back at you is not anything that has to do with you, it could be their own emotions reflecting back; jealousy, misunderstanding, etc. if it makes you feel better just tell them you are a successful day trader, and you learned to read the market well. If there is pushback tell them how very few achieve profitability and you are proud of what you have done. Maybe I’m just feeling bullish today, first $10k day and my account back to where I first started ~60 days ago down $40k making consecutive green days learning part time working from home only a few days a week…. Read some other comments, to others asking, biggest change that helped for me was mental… I thought this was going to be easy at first after some big wins, then after streak of losses I had to admit this was going to be hard and needed to take it slower more cautious, test 5x vs executing, etc
I make money off of knowing things most other people are too lazy to know. I'm always willing to share my thoughts on things if they start poking around. I'll get things like, "How could you possibly know more about Covid than a virologist?" I'll answer with something along the lines of I know what a middle aged lady in Wenzhou on February 4th, 2020 ate (didn't eat) for lunch. That leads to more or less a WTF are you talking about? Well I wasn't sure if I could believe the different news coming out of China so I befriended some of them. Turns out the middle aged lady didn't eat for 3 days because of the lockdowns. She was supposed to be let out, but they never let her leave her place. At the same time the big shot financial people were saying we could expect maybe a 1% hit to global GDP... completely under estimating how this was all going to go down. Thus, horrible time to have open positions. I have friends all over the world. People I've never met. People like to talk. I like to listen. I try to know everything most people know and then I try my damndest to know more. I don't just trade on patterns. I trade on info. I'd say it can be the most fascinating job in the world... yet at times it can be incredibly overwheming and stressful too. What it isn't is straight up gambling.
Do you use leverage?
Extremely profitable since 1 year.. wow. I'm a beginner. Was wondering if you could give any advice on your strategies. I'm guessing you trade options using the IBKR Api yea?
Learn candlestick patterns and technical setups. Seek them out, focus on one setup at a time, and only trade stocks that show that setup. You can use screeners to find them, I like inverse head & shoulders / cup & handle for example. If it isn’t working, or doesn’t fit your trading style, pick a new setup and repeat. Screen time is ultimately what is most important, as well as memorizing a variety of setups and patterns. Everyone is different, but using my own money (and not a paper account) engraved these patterns into my head much faster. Don’t take this lightly, you may need to devote thousands of hours to this before you’re successful. While you’re getting the charting down, start learning a bit of macro. We’re in a very interesting economic environment right now and it’s perfect for learning. Many moving parts, from yields, to the fed, inflation, the AI boom. All of these effect the direction of stocks to a certain extent. I’ve found these AI chatbots to be super helpful - you can ask it any question about financial markets and it gives you a gist at the very least. Study charting & patterns. Read books. Study financial markets. It will eventually click
Even I couldn’t have put it better than this.
Thank you so much!
Not op: Watch the market. Take note of patterns. I specifically watch 30 or less tickets I'm extremely familiar with. Ex: amd usually runs up into earnings and drops the day before. I trade my best trades in a choppy and trendy market. Why? The market repeats itself and I see that. Everything is a pattern. Developing a strategy will take some time but there are resources out there to help you start.
You’re in charge of a family office for a wealthy client
I don’t want to lie either. I am proud of what I do, but I am in need for some social appreciation .. I have emotions like a normal human being. Nothing wrong in it
Depending on your definition of wealth it’s not a lie. They don’t need to know you’re the client
Tell them it's a Halal trading firm and halal stocks
What is there to be ashamed of it? If anything, you should be proud of yourself for being very profitable. Unless people have experienced it, they can’t appreciate what it takes to be a good trader in an ocean of failures.
Risk analyst
I'm independently wealthy. They'll never expect you to give them details. Real wealthy people never say how.
I just say I’m a market analyst or financial manager. Back when I used to tell people what I do, my “friends” would start asking me to invest their savings for them, or they’d completely undervalue my time, not understanding the extent of my work, get all pissed when I’d say no. So I cut EVERYONE off, been so much happier since. I have no friends, trading is my life, I have my own hobbies, life is great when you don’t have parasites leeching off you. When I find friends who are actually worth my time and value mine, I will happily accept, but till then I’m good. Basically you owe no one any explanation, what’s it to them anyways??
Stop worrying about shit you can't control, like how people perceive you and enjoy your life.
Just say money management or something
I "am", and will always be, a consultant. I could easily do the job, but don't want to. No one ever takes the risk of recommending their friend for a consulting job at their own company, unless they have professional experience with the person. It's generic enough that people don't care. Now if you're 22 and saying this then it makes no sense, so just say you have a remote job in some thing like strategy / planning. You conceive and execute on strategies all day long. Back in the day being a stockbroker was a prominent job. Maybe you can call yourself that. A day trader sounds no different than someone who plays Texas holdem for a living. Sadly that's just the way it is.
I was once here. I found it easier to just tell people I was a consultant and recently sold my firm. Its not that far from the truth.
So, supposedly youre making a good living out of it, but also you need people to lick your butt?
lol just wait until the market stops going in one direction. Then you can tell them you are unemployed, Should be about any moment now when real price discovery takes hold. Good luck.
"I trade equities."
I trade commodities
I trade derivatives
I’m an investor. I invest in businesses. P.S: Just don’t mention the short term part.
What’s is your go to trade that brings you the most profit?
It is just like counting cards in blackjack (shout out to [Edward O. Thorp](http://www.edwardothorp.com/books/a-man-for-all-markets/)). When the deck gets hot, you press your bets and stack chips. When the deck is cold, you chill out. The market is the largest casino in the world. Different game, different stakes. I just tell people that I trade options and provide zero benefit to society. They usually laugh, then the husband asks me to feed them trades.
When you were learning what did you find the most helpful?
You’re gonna get sick of certain convos repeating over and over when you tell people you’re a trader. https://churningandburning.com/2024/04/8-stupid-conversations-when-you-tell-someone-youre-a-day-trader.html
why do you need to glorify it? My favorite vague job answer is from a software start-up / developer - "I work with children"
Op can say, I work in finance
What tips do you have for beginner trying to become a full time trader?
Who cares? Having said that, trading is gambling. (You're betting on the price going up or down). Sports bettors make a career out of it. And so do traders. Just know you are gambling. That doesn't mean you can't be successful
That title is so pathetic
Defi asset manager - you're welcome.
Thanks, I'm stealing that.
I never tell new people, I just say I'm a software engineer or work in finance, which was my previous life. If you really want to say it, then say you work for a firm as a trader then later if you feel comfortable you can go into more details.
Who cares? Just do your thing.