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Do I need to discuss my income? – Forex for beginners from scratch

Hello, friends! Today we will talk about another psychological aspect of trading. Do I need to discuss my income with other traders, friends, acquaintances and just random people? As if there is nothing wrong with that. If you managed to make money with your mind, then why not share it with someone? Most traders think so. Indeed, this is honestly earned income, not theft, not fraud. And nothing bad should happen if you tell your trading colleagues or friends about it. But is it really so? How can the discussion of income turn out for the trader himself?

Do I need to discuss my income?

Personal success

This is how a person is arranged that in case of success, I want to share this with others. Traders are no exception. And if an ordinary person can succeed in any field of activity, then a trader is successful in the financial field. Several successful deals bring not only good profits, but also pride in their personal achievements. Often, it is on the wave of such euphoria that rash acts are made. The joy of a successful deal may not always be shared by other people. Do not forget about such human qualities as envy and ill will. Even a person who is pleasant in appearance and in communication can actually be very envious. And envy, as we know, has not yet made anyone happy.

Drawing attention to your person

By discussing our income with someone, we draw additional attention to ourselves. Perhaps someone, thus, wants to attract new clients for trust management of funds. However, in addition to potential clients, regulatory or tax authorities may be interested in the announced successes. Communication with them brings little pleasure to the object of attention. Likewise, a successful trader, announcing his achievements, can also fall into the field of vision of criminals. So, before discussing your income with anyone, you need to think about your own safety. No wonder the saying arose that money loves silence. Exposing your successes to public discussion can lead to psychological problems.

Psychological pressure

When discussing successful activities even with friends or relatives, the speculator puts himself at risk of psychological pressure. Success cannot last forever. And friends will certainly ask about their next successes. For traders with a stable psyche, such inquiries will create discomfort. After all, you need to somehow explain the reasons why there are no good deals yet. And this once again brings you back to thinking about trading. But speculators with an unstable psyche, from questioning, can fall into depression. In any case, the discussion of a trader’s profit becomes a psychological burden. This burden fetters thinking, makes you question your actions once again. So it is better to think seven times before discussing your activities and income with someone. A momentary weakness during the euphoria of successful deals can turn into additional problems. Indeed, in addition to the additional psychological stress, security issues are also raised. All the same, it is better to make money in complete silence.


Vitaly Pryadko.

March 26, 2021

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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