Did anyone have this problem? How did you deal with it? I can see it is affecting my performance as I am expected to fail.
donât listen to them. You can;t listen to people that have no understanding of what youâre doing. Theyâre going to be the ones wanting you to teach them after they see you making money
This question is complicated enough.
At first, make shure you possible losses would not hurt your common funds.
Then you will fail - because itâs a reason to explain future failure.
There was a book written back entitled âTrading in the Zoneâ. The zone is a mindset, a sense of fear and greed, or better explained - fear and thought.
Fear in the market, regardless from where that fear emanates will cause reaction in a trader and reaction is a gamble, sometimes itâs correct, other times itâs a loss.
Thinking outside of fear is a different story. You eliminate fear with âmoney managementâ, with no side influences from family or from gurus, there is just you and the market - nothing else.
Get to know the market, listen to nothing else, in time it will become your friend.
Ignore them . Stay focus & always self motivate yourself . Be your biggest supporter.
You have a delightful photo Kassidy haha
well, easier said than done.
I read trading in the zone, excellent book on psychology.
but we cannot be 100% in control of our reactions. it can be improved, but toatly ignoring surroundings is not possible, people are social creatures.
you two havng a flash conversation here, almost like high frequency flash trading, one moment you see it, next its goneâŚ
You will likely need to stop talking about it to them and just prove your seriousness through your actions. Where I live nobody has ever heard of Forex so when I started talking about trading Forex the range of responses was anywhere from confused to eye rolls. I took that as my cue to not say much more about it and just do it. Remember, after all you are not doing this for them but for yourself. Although it is nice to have family support, but realize you may have to show them your seriousness first and afterwards they may begin to warm up to the idea and you may have more solid support from them. Personally it took me trading for a number of years and building up an account size into the 5 figure amount before my family saw it more seriously. Now my dad has begun trading and my oldest brother is very interested, but this all took a very long time.
Ultimately though it wouldnât matter, I would trade even if my entire family didnât support it. It is just nice to have.
Yes easier said than done.
And yes people are social creatures.
BUT - You are on a journey - A long hard - lonely journey.
There is an old saying - âCultivate prospects - CUT Suspects.â
To precis - that means âtalk to supportive people - stop talking to Negative peopleâ
Itâs hard enough to make this work - you donât need Gainsayers in your life.
Just stop trying to âget them onsideâ - You will win or lose eventually without the support of people who know nothing.
Shut up , learn, practice, trade, win - Then show them your new Mercedes and your huge house. - Maybe in 20 years time - maybe next year.
What the F*** are they going to do to help you ? - Why then do you need their approval ?
JFDI !
My apologies for your unsupportive family, but you shouldnât let that discourage you from trading, assuming its something you really want to do. You canât trade the markets with negative thoughts like expecting to fail because then you probably will. Now you have to be stronger than ever, to show your family that you are a good trader with or without their support, because itâs what you want.
So first work off your negative expectations and replace them with positive ones so you can analyze and trade with a clear mind.
Donât be too focused on what your family is saying about you. Focus on accomplishing your goals.
Evidence is the key to a convincing argument.
If someone thinks youâre an idiot but they have no evidence why they think that, then they are an idiot themselves - believing something without evidence is itself idiotic. There is no gain to you in talking with idiots, or even providing them with evidence that you are not an idiot, their opinions are worthless.
However, there are people who might doubt what youâre doing and their opinion or support matters to you personally. If they do have evidence that what youâre doing is wrong, you actually really really need that evidence - so that you can change what youâre doing so that you donât lose money.
But if they donât have evidence against what you;re doing, you might still feel you need to convince them you are not an idiot. Share with them the details of your plan and strategy, show them your programme to learn about trading, show them what youâre doing to get better at it. At this stage you donât need to show them real money or big money, but some success at demo trading would be good.
At least they will not think youâre an idiot.
Sometimes Evidence is not good enough. Evidence will not help against a belief system - what people just âknowâ !
We see much evidence for example that eating fat does Not in fact increase cholesterol levels in the body, but the medicals and dieticians have been taught that it does. The evidence is that it is sugar and Carbohydrates which lead to weight gain yet the western world (The obese world with all the worldâs heart disease & diabetes ) âknowsâ that a low fat - high carb diet is healthy and slimming !
WHY ? because thatâs what they have been taught and their âbelief systemâ will not even consider real âEvidenceâ to the contrary ! Avoiding cognitive dissonance is far more important to people psychologically than mere âProofâ !
There will always be people that think youâre âwasting your timeâ and that trading is just a lottery etc.
Itâs actually a huge motivator for me. I love when people claim itâs all stupid, while they sit earning an average wage in an office. Just turn it into a positive and prove these people wrong.
It can be difficult if your family are unsupportive but the best advice I can give is just grind out profitable results in silence. Theyâll start to listen when you produce real results.
Yes, some people wonât accept evidence.
Sigridskyler, donât waste your time and energy on people, even family, who donât accept the evidence, theyâre wasters.
Hey S, it depends. You see, you have not explained the circumstances, or given the whole story. For example, if you have told them that you could make $50000 a year on a $5000 account, welll, they are right not to be supportive. Your goal is unreachable. If you are unemployed and think trading will be your way to gainful employment, again they are right not to be supportive.
However if you say your goal is to trade well, and when they ask âwhat does that meanâ? You say 15-20%. Then there should be no reason why they should not support you. Many times when I am in a group people and they ask what I do for a living I say âAutomotive Technicianâ I mean my ASE master cert is still valid, and it seems to make life easier for me.
One other thing to take care about, you are looking for your families approval, and this alone can be detrimental to your trading. It cannot matter to you who gives you approval, support or whatever. All that matters is that you trade well, and also that once you put a trade on, no one, not your Mom, Dad, Brother or Sister or anyone else for that matter can change the outcome, and on top of that if it is a negative trade, no amount of support, love, validation, will change the loss. So there is that.
The Ever Cognitive Viper
Thatâs a bit harsh @tommor, This is his Family mate ! - Iâm sure they have his best interests at heart !
Well put ! (ever insightful Viper )
Curious to know why they are unsupportive. I think this would help frame the situation better if youâd give some sort of context as to why your family is unsupportive.
Hello @Sigridskyler! Maybe you can share with us a little background as to why they are unsupportive.