Talking About Trading with Your Family and Friends (The Truth!)

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Nicholas explains his experience of talking to people about your trading and whether this is a good or bad idea when you're learning to trade.
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TRADING TRUTHS
When you're learning to trade, you inevitably want to share the things you're learning with the people around you. However, in some situations this is not the right thing to do or should be approached in a particular way. We discuss that in this video.
Presented by Nicholas Puri
▶️Watch more about Nicholas' experiences: • MY EXPERIENCE OF MAKIN...
#trading #tradingtips
#trading #tradingtips

[@purple8348]

Telling people about your trading can add stress to your trading

[@jcrockett870]

That's why you need to talk to other traders. People who are not traders do not understand.

[@mmustap3]

Totally agree. My first year trading I finished positive and was really proud of it. I wen't on a small vacation and met some new people, and when they asked what I did I took pride in telling them that I traded forex. They were all so intrigued and respected me for it. After that vacation, I lost all of my gains and some more. Keep it to yourself.

[@NiceTrade]

problem i have.. too many people offer to give me money to trade for them.. i have never accepted, i only trade for myself & so many just dont understand it, then give the cold shoulder..

[@harmtimmerman9309]

Don't talk to people.. Buy real estate. Being successful is like peeing in your suit. You get a warm feeling but you are the only one that knows it.

[@liam-n8098]

last time i spoke about trading to my uncle he gave me all the reason in the world why i will fail lol

[@derek8149]

Definitely agree with the pressure of others watching you causing you to do poorly. I earned 385k in crypto and told my friends after which I lost 200k. Then I went to medical school and met new friends, made 365k, told my friends, then lost 300k. Now I’m working my way back up, having learned my hard lessons well.

[@enkimarduk7028]

More generally, NEVER speak about any project you have strong feelings about to anyone, it only lowers your chances of success or even of carrying it out at all. It's been proven by psychology experiments. Talking about something not yet done somehow fools your brain into believing it's already been done and all the energy required to sustain the effort gets diverted and diluted away. Do it, meet success and only then can you openly talk about it. Never before.

[@Duomoinitiative]

Your support on the more personal videos has been amazing. Thank you so much. We appreciate all the likes, comments and shares!

[@jamesmetaldrummer]

This is dead right. I wish I never told some of my colleagues about trading… it has been difficult to try and get past these preconceptions they have, especially ‘gambling’ etc comparing it to sports betting and such… could go on. Trying to explain that it’s so much more and that it’s something that needs to be worked at, studied and learnt over a long period of time is just met with unnecessary criticism and a totally different mind-set. This video is inspiring!

[@janesmith167]

Trading is a Solitary endeavor...

[@ahmadshahab566]

Huge mistake telling family there very pessimistic and unsupportive unless its go to school get a job

[@dabeatsmithsa]

When i told people nobody wanted to hear it but when i stopped they started probing. This is business, you don't tell people about your business... i learned

[@gp5]

My guy, you hit the nail in the head, I made that mistake of telling a certain amount of people “yeah I made $1,000 in like 6 minutes” then 3 days later I gave it back but I never told them that LOL

[@mikesautiere8290]

Great videos! I used to talk to people about my trading because I love it, but as you said people have pre conceived ideas about what trading is, so I have stopped talking. Now I'm like trading is work, people don't really talk about their jobs, so I shouldn't be either. If someone asks me, I'm happy but otherwise I stay quiet.

[@neilasurbo8706]

yep, every time I tell people I trade they assume I'm a gambler lol. But perhaps I found really useful to have a trading buddy, because no matter what people say, trading is a psychological game and having a buddy is really good to discuss your trades, strengths, flaws, etc.

[@deneltulloch8673]

I fall many times telling other traders about my trading after being profitable for months only for them to say..." why are you trading those small lots" I'd up the lots and mess up really bad. So I figured it'll be best to keep it to myself and it's been good ever since

[@cerebrumexcrement]

I'm glad I dodged a bullet with team trading. The guys that I was going to partner with were very unrealistic about trading and I left before I lost any money.

[@whoatemydamnkitkat5490]

If I said that I had seen every one of your videos, I'd be lying. But what I can say is, The videos I have watched, especially these personal videos, are truly incredible mate. They are very deep and you have never wanted to show off your success. You are real and connect with all of your subscribers on a personal level. I feel like you are not just a random successful trader from whom I am getting tips, but a mentor. I watch your videos and learn from each and every one of them. I am going live on Monday evening for the first time. I wish you luck for the future and please keep up these videos. They mean a lot to us. Thank you.

[@LukeItaliano]

Great advice, wish I had of seen this video months ago! It would have helped. And you nailed it. I love the part where you say to slow down, don't set unrealistic expectations. Sure one good win is a good sign, but it's not the reality. I'm happy to admit that my first trade I ever did, made 2k... The whole next month, lost 6k. Took a month for me to learn my mistakes and overcome my stress. I also noticed the stress it was putting on my wife, so I quit for a week and that when I relalised $20 a day is better than nothing, and ever since then everything just gets better and better...