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Pro Traders, What Do You Say When Asked About Your Job?

November 2, 2020 by

While things are usually relatively simple with your relatives and close friends, speaking about your Forex trading job with people you’ve just met is for the most part rather hard.

The poll below is intended for people who are already earning their living (at least partially) through Forex, but the entire post will be interesting to anyone who is getting into foreign exchange trading or financial trading in general because it is strongly connected to one’s social life and to how traders are perceived by the general public.

Forex trader explains what he does for a living
A Forex trader is misunderstood when he says what he does

The chances are if you are an experienced Forex trader, you have already answered this question countless times. Unfortunately, for some unfathomable reason, the trading profession gets some negative reputation from non-trading people. Like a fellow trader has put it, there is a lot of “judgment that comes from preconceived or stereotypical views”. Another one said that “people are generally prejudicial towards ‘day-trading‘”. And the opinion that trading has a “pretty bad connotation” was also mentioned. People might even go as far as think you are some sort of fraudster.

But even if the knowledge of your profession doesn’t sway people towards inferior opinion about you, they will likely start asking lots of questions: about current and future currency rates, which currency they should hold their money in, how much do you earn, how they should invest money, and so on. And some people can be very intrusive about it.

In addition to attracting lots of questions from normal people, being open about your trading career tends to attract wrong type of persons too. All sorts of scammers, swindlers, and panhandlers will start seeing you as their appropriate target.

Worse than that, in some countries, Forex trading is prohibited. In that case, it might be a matter of personal safety to come up with a plausible yet untruthful answer when someone gets curious about how you earn your daily bread.

At first glance the issue at hand might seem like a laughable matter that mostly concerns unsociable introverts, but in reality, it is much deeper. The roots of the problem run into the real social stigma attached to both financial trading in general and Forex in particular.

I often say either that I am online entrepreneur or that I am a programmer because I hate explaining what Forex is and that it isn’t a scam (Forex trading has this reputation where I live). If I am certain about the one who asks that he or she know what Forex trading is, then I usually just say that I am a trader.

What's your go-to answer about your job?

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Is it even a worth worrying about? Do people even care? Did you experience being looked down upon when people found out you trade currencies? Do you have some life story to share related to how non-Forex folks reacted when they first learned about your career choice? You can use the commentary form below to tell us more.

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