Wrong and dangerous. The only reason to carry a handgun should be to shoot and kill someone. It's not a deterrent and you don't fire warning shots or wave it at people to scare them away. That behavior will put you in much more danger than not having one.
This isn't a subject that I really want to expose my knowledge of on talkbass, but I am happy to suggest a few books and resources to you if you're interested in personal safety. I neither want to speak out for or against guns, but if you are thinking about carrying one, I really suggest some deeper knowledge and introspection first.
I will say that I grew up in Texas and Oklahoma and have a lot of experience handling guns. I learned as a child to be very safe with them and I'm not anti-gun exactly, but I don't chose to carry or posses them personally and I live in a decent sized city and have lived in larger, more dangerous ones in the past. I've witnessed and been around violence in Seattle and it's not made me second guess my own personal decision not to carry a firearm. I have friends who have made the opposite decision and some of them have gone through great lengths to ensure that they are properly trained and prepared, which I respect. Maybe they've made the right decision for them, I can't really say.