People who think they know it all!!!

Kevin21

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A tangent...

for those of you who follow the dow 2007 thread might recall that i said i was teaching my old man how to trade. Now there is something i regret.........
I've been showing him the ropes for five mins in the grand scheme of things and already he thinks he knows it all, and is constantly trying to tell me what to do and, what i'm doing wrong. He knows **** all to be blunt. I've given him the trading system that i use and all the rules with it, and he keeps on breaking all the damn rules and loosing money and tells me that my system is a load of bolloxs, and just seems to be making it up as he goes along. Last time i checked i was the one who was taking over 500pts a day and not him. He's the one seems only able to loose hundreds of pounds everyday, even tho i've given him crystal clear instructions. I didn't even want to get him invloved but got pressured into doing so because he lent me 15k to put into my IB account. I paid him off in under two weeks, and now that i've got my own healthy sized pot i'm seriously thinking about telling him to go do on and cutting him loose. He seems to forget that over the past year the tables have turned. He needs me more than i need him....

Argh!!!
 
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There are people who know it all because everything is known in advance.
 
Kev,
you are known and respected as a highly astute trader and a nice guy.
I think your Da is suffering from rabbits in headlights syndrome or else jakey on tv syndrome. maybe it's too much for him to take in comprehensively ? remember that you are one of a small minority who makes a success of this game. there is a reason that a large % fail, even if they are given the most rigid system-winning rules to follow. Maybe, genetics aside, yer Da just isn't cut out for this game ? No shame in that.
But rather than cut him off altogether, how about steering him into something useful but potentially less demanding and less high-risk ? What about buying him a few HPQ shares and getting him to write Covered Calls for instance ?
It would keep him on the peripheray, and therefore interested in your business per se, without the capacity to do too much damage; amd who knows at the end of 12 months, he might end up with a wee profit ......?

look at this way, George Best was the greatest football player ever in history, full stop, no arguments accepted. Yet his Da couldnae kick the front door open ......and his sister has had what, 4 boys ? How many junior Bests do you see in the premiership ? And as for Callum, God bless him.....nuff said. Some things you just can't force.

(I don't mean any disrespect to your da btw !! :eek: )
 
Kev.
if it's any consolation, Ashlene's account is showing better profitability/equity curve growth than her Da's, and she's only 6 months old .......
 
I guess you could show him how to develop his own trading plan and then just let him get on with it. Never know what he might come up with. Might even teach you a trick or two. He'd probably like to.

Does he have his own office?


tune
 
the thing that is annoying me is the fact the he thinks he knows best, and that he's way too stubborn to stick his hand up and admit that he doesn't know what he's on about. In the grand scheme of things i know sod all too, all i can comment on are my personal experiences with trading and pass them on as tokens of advice. He's completely different, he didn't even know what futures, technical/fundamental analysis, long/short etc etc was untill last week, and now he's telling me that i know nothing at all and what i'm showing him is a load of crap.

This is a fine example in my opinion of how success in trading has a lot to do with mentality and discipline. Two people using the same system, same rules and one person makes over 500pts a day, the other looses 200pts a day. All i can say is that i'm glad he's not trading out of my account. When i first started getting into trading i was still at uni and i blew all my student loan in, plus 1k on one of my credit cards funding my trading (yeah i know school boy error). From that i learnt a lot, but i don't think my old man will just because he's way too stubborn. It will always be the markets fault, or my fault - not his... It just pisses me off that someone can be so narrow minded. Just because you were successful at one thing doesn't mean you can turn your hand to everything and be a star ....
 
This is a fine example in my opinion of how success in trading has a lot to do with mentality and discipline. Two people using the same system, same rules and one person makes over 500pts a day, the other looses 200pts a day.

mate, you've hit the nail on the head ! If there is such a thing as a "Holy Grail", it's not a system, it's having (or not) the mental capacity to be a trader.

(which you seem to have in abundance btw)
go easy on the Old Man, he's probably more scared than you'll ever realise, and certainly more than he'd ever tell you. It's time you acted like the Man, and took his toys away from him. Like I said before, no shame in that. But maybe give him something safe to play with like a few CCs.

(again, no disrespect intended if my analogies are too sharp)
 
he just phoned me saying that he was gonna put a trade on YM, and that he just wanted to confirm that to sell was if the market was going down.... :rolleyes:
 
I should be going out around september just before i go back to uni to do my masters. I'll deffo be out there around xmas time because i'm buying some land there, and hopefully a pad in phuket :D
 
A tangent...

for those of you who follow the dow 2007 thread might recall that i said i was teaching my old man how to trade. Now there is something i regret.........
I've been showing him the ropes for five mins in the grand scheme of things and already he thinks he knows it all, and is constantly trying to tell me what to do and, what i'm doing wrong. He knows **** all to be blunt. I've given him the trading system that i use and all the rules with it, and he keeps on breaking all the damn rules and loosing money and tells me that my system is a load of bolloxs, and just seems to be making it up as he goes along. Last time i checked i was the one who was taking over 500pts a day and not him. He's the one seems only able to loose hundreds of pounds everyday, even tho i've given him crystal clear instructions. I didn't even want to get him invloved but got pressured into doing so because he lent me 15k to put into my IB account. I paid him off in under two weeks, and now that i've got my own healthy sized pot i'm seriously thinking about telling him to go do on and cutting him loose. He seems to forget that over the past year the tables have turned. He needs me more than i need him....

Argh!!!

Hi Kev

congratulations on being successful. At least your profits are off-setting his losses :LOL: :rolleyes: :eek: .
Your dad may know, and be struggling with the fact that he needs you more than you need him - in trading terms anyway!
At least he is showing an interest in your activites, even if he is struggling to be an obedient pupil at present.
Just show him your account balance from time to time, perhaps that might make him eat humble pie!
 
Hi Kev,
Might I enquire just how old your ol' man is?
MY guess is that he's of my generation (late 40's, turning 50) and, if so, I might be able to offer useful guidance in how to handle him.
;)
Tim.
 
Hi Kev,

It seems that your dad needs to develop a strategy to suit his personality/thinking processes/(you know what I mean!)..........:LOL:

Be patient with him.

Fibonelli
 
I think someone should pull my other leg. The one they are pulling now has got bells on.

Split
 
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i see where you're coming from GJ, but things are different with my old man and i. We've never exactly had the best relationship as we tend to clash a lot. Knowing what he's like with me, he pretty much lent me the 15k thinking i was going to blow it meaning that i would forever be in his pocket on the end of a string. To his surprise i made money, and now it's like he's trying to move in on my turf and take my moment away from me. It's kinda like when i got my first at uni this summer, the highest mark in the year - all he had to say was 'you only got a first because i shaped you into the person who you are, i know you, left to your own devices you would of just ****ed it up' I swear i felt like cracking him one in the face when he said that...

Then there's the whole issue with why i didn't get into cambridge, which he holds against me with a passion. What he seems to forget is that i would have got in if he didn't decided to kick me out during my last year at 6th form. As a result my 6th form said to me at the time, due to my circumstances (homeless for a year) i was probably not going to pass my A levels so they were gonna drop me out. I had to plead with them not to, and in the end they said if i got certain grades in the January exams i could stay on, which i did. When cambridge found out that i had been kicked out was homeless staying in a hostle they pretty much gave me the hard shoulder. Yet in the eyes of my old man this is all my fault, nothing to do with him being a wanker and nearly ruining everything from me. Even with all that **** he caused for me i still managed to get two A's and and a B, and got into Leeds Uni....

These are just couple of examples, but the list really does go on, 21 years of **** from him, and yet he trying to pressure me into letting him in on my success, my moment, my dream. I always said this was what i wanted to do, i always had a fascination with the stock market growing up. It always amazed me how the markets would be constantly moving and people would make vast sums of money, how fortunes were made and lost within a day. Yet all along my old man was there telling me to shut up and that i was just dreaming. Even tho it's early days, and i've still got a tremendous amount to learn (everyday i learn something new), i can happily say that right here, right now, this moment, i'm on the road to where i want to go, and at this particular moment in time, i've got a couple of quid in my pocket too. Yet my old man is trying to take that away from me. So i think i'm just gonna cut him loose. What goes around comes around as they say. It really does sadden me that someone can be so narrow minded and bitter for no good reason at all
 
i see where you're coming from GJ, but things are different with my old man and i. We've never exactly had the best relationship as we tend to clash a lot. Knowing what he's like with me, he pretty much lent me the 15k thinking i was going to blow it meaning that i would forever be in his pocket on the end of a string. To his surprise i made money, and now it's like he's trying to move in on my turf and take my moment away from me. It's kinda like when i got my first at uni this summer, the highest mark in the year - all he had to say was 'you only got a first because i shaped you into the person who you are, i know you, left to your own devices you would of just ****ed it up' I swear i felt like cracking him one in the face when he said that...

Then there's the whole issue with why i didn't get into cambridge, which he holds against me with a passion. What he seems to forget is that i would have got in if he didn't decided to kick me out during my last year at 6th form. As a result my 6th form said to me at the time, due to my circumstances (homeless for a year) i was probably not going to pass my A levels so they were gonna drop me out. I had to plead with them not to, and in the end they said if i got certain grades in the January exams i could stay on, which i did. When cambridge found out that i had been kicked out was homeless staying in a hostle they pretty much gave me the hard shoulder. Yet in the eyes of my old man this is all my fault, nothing to do with him being a wanker and nearly ruining everything from me. Even with all that **** he caused for me i still managed to get two A's and and a B, and got into Leeds Uni....

These are just couple of examples, but the list really does go on, 21 years of **** from him, and yet he trying to pressure me into letting him in on my success, my moment, my dream. I always said this was what i wanted to do, i always had a fascination with the stock market growing up. It always amazed me how the markets would be constantly moving and people would make vast sums of money, how fortunes were made and lost within a day. Yet all along my old man was there telling me to shut up and that i was just dreaming. Even tho it's early days, and i've still got a tremendous amount to learn (everyday i learn something new), i can happily say that right here, right now, this moment, i'm on the road to where i want to go, and at this particular moment in time, i've got a couple of quid in my pocket too. Yet my old man is trying to take that away from me. So i think i'm just gonna cut him loose. What goes around comes around as they say. It really does sadden me that someone can be so narrow minded and bitter for no good reason at all

Hi Kevin

as an outsider, reading about your experience with your dad sounds quite amusing, though i am sure it has really angered you, and rightly so.

All this business about getting into Oxbriidge etc. is pure nonsese because at the end of the day you went to Uni and got your degree. Does it really matter what uni you got it from? No.

Rest assured, you are not alone, most people have similar issues with parents etc.

If you are making dosh, well done, and long may it continue. And as it continues, you will gain further independence, and slowly but surely your dad will be forced to acknowledge you as a person/adult and your successes.

Many father/son relationships are similar. Perhaps there is an elment of rivalry, but perhaps more so, your dad is not going overboard in congratulating you on your successes, as he wants you to keep your feet on the ground, not get a big head, and continue to achieve. Therefore he may be acting in this way in order to p**s you off, because he knows that this will probably motivate you and make you achieve more, before you get carried away with your own successes.....:idea: .......or pwerhaps he's just a bit of a to**er :LOL: .

I have had a similar relationship with my parents, but in my case I'd say my mother has had the role similar to your dad has with you. I think they might try & call it tough love :rolleyes:.


I try and let things pass over my head, and not let them wind me up, though it can be hard coming from a parent etc.
But at the end of the day, i do not look for their approval nor do i particularly look to avoid their disapproval in what i do, although i would have been more inclined to at age 21....because at the end of the day they are ordinary people with flaws/weaknesses just like all of us......
Since my early 20's, i have also become much more aware of their obvious limits!! whereas when you're a kid, you tend to kind of trust your parents, their judgements etc. and believe them to be correct.........

When people clash, it usually involves them thinking you're wrong in some way, when you think or know that you are right, and they are wrong. This can be infuriating, especially when the person is a close family member or friend.
On the otherhand, they are probably thinking the same thing, they are right, you are so obviously wrong.
But if they would just open their mind, and see things from your perspective etc.............
Therefore when you have two conflicting opinions/mind-sets - you have a clash of personalities etc. Perhaps agreeing to disagree is best in such situations, at least it avoids big arguments etc.
 
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I wish I had an old man that gave me 15 grand when I was 21...come to think about it ..I wish I had an old man when I was 21...:confused:
 
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