Backstory: I have a friend who got laid off from her white collar job. She ended up having to get a job at a restaurant to make ends meet. We were talking about how insanely difficult it is to have such a physically demanding job and only to earn less than minimum wage from it.
Then I thought about the traders, crypto, stocks or even forex and how they’ve been raking in $$$ within the past year just from the craziness in the markets.
Those who’ve made a good chunk of money from trading, do you ever feel guilt that you’re in such a privileged position that you can make money from just being on your comp or maybe just buying bitcoin or something? If so, how do you “balance” that out? And if you don’t feel any guilt at all, why not?
No guilt here, trading is a skill that needs to be worked at(It is not a privileged position). I have put a lot of hours in screen time and charts, learning from all the emotions that are tied into trading. The stress when trying to figure it all out, second guessing yourself cause you’ve lost 4 trades in a row. Not spending time with the wife and kids cause you’re building a skill to teach your kids so they can earn an income along with whatever career that choose.
I was a good basketball player, I never felt guilty cause I was better than someone. I put the work in to get there. Not my fault they didn’t or that maybe I had more natural talent.
Now, do I feel bad for someone and want the best for anyone, for sure. Why would a person not. The lesson she is going through now will only make her stronger once she’s out of it and on the other side. I’ve been through the trails and the battles. Part of life, makes us the people we are. Anyone can survive during the sunny days.
I’ve never been in a privileged position, and I certainly don’t make a good chunk of money from FX.
But I never whinge about it, or compare myself with others better off. What happens in my life is mostly down to me, and that will continue, thank you.
I think it less a matter of guilt and more a matter of gratitude for being able to do that and self-awareness of what privilege it is, these days, to work from home, even if one is doing something other than trading.
I believe and agree with all of this. However there is also that side of the argument that makes it extremely difficult if not impossible for anyone to do the same things we’re capable of doing. Aka, someone being born from a war torn country or maybe someone born with a debilitating disease? I’m probably just overthinking it though…
Right - same here. I just also think about the already well-off kids who have made money from this crypto boom and are now “instant” millionaires. I’m sure there are a bunch. Or maybe Robinhooders who have already started off with a financially stable background or maybe even generational wealth…
And then you have people who were let go from their blue collar jobs, struggling to make ends meet. Who’s to say they aren’t working as hard as we are on whatever their/our jobs are supposed to be?
I’ve tried to make myself clear. What happens in my life is, it is what it is. I never compare myself to anyone else whatever their status or situation.
With respect, I suggest you climb down off your righteous perch and accept it.
I’m merely stating that the way I view the world is the way I view the world. Nothing more, nothing less.
Which means the life I’m living is my life, and no-one else’s. I would hope that most people would accept that.
Best of luck with your trading - it’s been a rough few weeks for me to make any sense of market movement. Seems like there’s a spiked response to any news item. Which means entry and exit timing is critical.
I don’t feel guilt but maybe I should! But I’ve worked in lots of crappy jobs in my time, so I feel i’ve done my time… I’ve always worked hard and forex is like a hobby for me to wind-down from my day job. Also, when trading you’re putting your neck on the block - I don’t need to tell anyone here how easy it is to lose money. I prob would feel guilty if I felt I was getting something for nothing, though.
This makes sense. Although if we are to quantify the amount of “effort” maybe more on the physical side and compare to other sorts of job then maybe there it’s more evident but yeah like you said, it is way easier to lose money trading.
Oh, I agree. It is an immense priviledge to be in a position to be able to trade in the first place - warm place to work, spare cash you “can afford to lose”.