Trading Psychology Podcast Ep28: When Your Family Doesn't Approve

Рет қаралды 4,883

Жыл бұрын

This one could hit really hard. Traders are not common. It's a game with a very low success rate, but the payoff is financial freedom -- but without a safety net. You're going to have a hard time getting genuine support from family members who think the mere idea of this is insane. VP and Robb break it down further, and show you how you can handle it best.
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Пікірлер: 32

@NoNonsenseForex Жыл бұрын

Almost all of us can relate here, I'm sure. Feel free to share your stories below.

@lukesemail6980 Жыл бұрын

Trading: My wife and I laugh at my mistakes and celebrate my wins together. It makes for fun conversation and I'm very blessed that she's supportive. The most frustrating lack of support I've found with money definitely comes from extended family, related to business and investing. "Do your own thing? Why not get a job and stay there for 30+ years?" -Pretty over all variations of this one. Employed or not, I'm not going to stop pursuing entrepreneurial ventures. "Manage my own account? Oh man that sounds hard. Better leave it to the experts." -Continues to invest in VTI through a manager who charges superfluous amounts of money for no extra gain. Explaining to family that it'd take 30 minutes to set up the same account, would save them thousands of dollars over thirty years, but it's self-managed though... I guess it comes across as too risky when someone else isn't managing it for them. And I can't do it for them because my name doesn't end with 'CFA' behind it. It just baffles me. Good luck to everyone catching flak on their trading/investing journey! Stick with it!

@TheBobberVlog 24 күн бұрын

"You can't do that" are the most motivating words going😉😉Have a great day!

@smallymac Жыл бұрын

This was good! I love the advice in the end. My husband supports my trading journey even though I'm still forward testing. When I showed my mom, she asked if it is gambling. However, she doesn't mention it, she just wants to see that I am financially comfortable. My other family members think I'm behind in life 😂

@Jjsaint007 Жыл бұрын

This one is really incredible and I can also relate to, am going to lean toward VP side in the believing part because it does not matter, what matter is if the parent are successful they are going to understand the process if not you are just going to look like a fooling around kid to them . And the rob part about worst case part that's me I never care about how am going to be humiliated because I have already play it on my Brain how it going to happen if things go wrong. Thanks a lot for this both of you

@elwoodpalmer7622 Жыл бұрын

very interesting podcast and very important as well

@argarcia281 Жыл бұрын

Robb’s commentary on soberly accepting and planning for the possibility and consequences of failure - ok, if I fail then I accept that and will move on by… - echoes Seneca. The latter woke up every morning CHOOSING to forget his amassed wealth and to navigate the day as if he didn’t have it. Well done, Robb. 👍🏻

@Porphyrogenitus1 Жыл бұрын

"If at first you don't succeed, Mr. Kidd" "Try try again, Mr. Windt"

@Tyraine7 Жыл бұрын

Awesome! Real Talk!

@ferrod15 Жыл бұрын

Danger is my middle name! Seriously??!! Thanks for sharing that, Rob. Had a good chuckle... 😁 All in all such a lifting episode. Loved it!

@darkostefanovski7647 Жыл бұрын

Go VP 🎉🎉🎉

@Kugann Жыл бұрын

need to watch this

@ikad89 Жыл бұрын

Thank you guys for this episode. A big portion of my decision to end a 15 year relationship was the lack of support of my wife. It was such a big load that I had to carry whenever I failed.. I was no longer to maintain both of them. It was either her or my dreams.

@NoNonsenseForex Жыл бұрын

I totally get it

@BrazyDaBossTV Жыл бұрын

Great Discussion

@elwoodpalmer7622 Жыл бұрын

When we're young we have the tendency to be extremely impatient and we spend a lot of our time to find a quick path to achieve what we have in min in term of goals and most of the time we get lost in the process, it did happen to me , on the other hand as it was said at the beginning of this podcast it depends on each personality, I was not really a cautious young guy even if I was coming from a 'very cautious' family , I do believe the quick development of internet open access to a lot of information( if use wisely ...) we did not have 25 years ago

@CryptoC4T Жыл бұрын

One thing that makes me stick to D1 timeframe is the fact its easy to keep my day job this way. I just can't have a catastrophic failure, I can just "not win".

@plantaherbalknowledge9423 Жыл бұрын

Wisdom equals time in life. Take heed to the elder's knowledge. Hopefully, they have some

@KyleBaran90 Жыл бұрын

For me, happiness is having a stable enough life where you can pursue the things you enjoy. For me, that bar is very low, even though I'm not wealthy per se. My parents encourage me, even if they don't really understand it. I'm not sure what my goals and aspirations are, though. I graduated from compsci 10 years ago, and haven't really done much with it. I always try to learn new things every day. I find I am unfocused and have many hobbies on the go, and tend to spend 2-4 weeks on a project and then move on to the next one.

@CryptoC4T Жыл бұрын

Check for ADHD, you sound quite a lot like me ;)

@NoNonsenseForex Жыл бұрын

Agree, and I can say once I broke from that and focused on completion as opposed to what was comfortable, life got better by multiples.

@frankoniko8158 Жыл бұрын

🍻 🍻 It's like talking to the smart uncle at family BBQ. Come here, Boy! Let me tell you what's what!! 😎

@LeonHyLifeHyman 2 ай бұрын

Key takeaway here from VP.... @ 32:35 ...."This lifestyle that I've worked so hard to create, it's actually REAL."

@spacecatF40 Жыл бұрын

Yeah this is one of my fears. Right now I am not near trading live but if the day comes when I quick my job and trade professionally I want to tell my parents but I am thinking they will not approve my choice. But when the day comes I will know for sure how they will react. 😅

@tramekab Жыл бұрын

I think parents more so try to protect you because they can’t really do it for themselves so they project their perspective on you out of love and their version of protection. I don’t think they necessarily don’t believe in you, more so scared for you.