It’s good to talk

Sunday, 11th April 2010 16:17 - by Boredmum

Yes I know, the Blog title sounds like a bad caption from an old BT TV ad, but it is important nonetheless. A lot of people like to dabble in the stockmarket and some people do it full-time as their only source of income. When you have a mainstream job you tend to come home and talk about your day. The stockmarket can be different. It can be a highly stressful environment as you are dealing with real cash funds on a daily basis in pretty much a win-or-lose situation every time. That is why it is good to have someone to talk to. It can be hard as many people just don’t understand. I remember one of my friends asking how my trading was going. I replied that I’d stupidly lost over £2k on one day, only to make it back within 2 days. I won’t forget the alien look that I received. Most people can’t comprehend that. Then again, at a time when the markets were in dire straits it was good to be able to talk, even if it was just ‘Oh my god, Woolworths went into administration and I lost £x’. At the moment I have some good trading friends and we talk over our trades - the good, the bad, and the ugly. I also talk to my partner, not about every trade, but it’s nice to say every now again ‘I’ve made £x’. It’s also good to be able to talk when my portfolio isn’t doing so well. My trading friends are good at advice; my partner gets to understand my moods. So, make sure that you have someone to talk to as the ups and downs of the markets can be a lot for one person to shoulder. Too often I hear people say ‘Oh no, I need to tell the wife...’ That must be tough, but a little easier if the person in question has an idea in advance of what you are doing. In that respect I am okay as I only trade ‘my money’ and, although I’d hate to lose any of it, at least it is mine and separate from any ‘family funds.’ So, try not to shoulder all of the weight on your own. Make sure that you have someone to share both the good and the bad with. Good luck with your trading.