Are Traders Ethical

[Don Bright]

Having given thought to the original post put up by my friend, Mr. O777...brings a couple of things to mind quickly.

Floor traders are probably the most "ethical" of all traders, since their "word" (voice, hand signal, ticket, etc.) is their "bond" and their livelihood. When floor traders come across a person who "DK's" (doesn't know) their trades at the end of the day, causing out-trades and errors, they are quick to dismiss this person as a non-entity, and not trade with them...which is obviously the end of their career.

When we are changing hands with Hundreds of thousands of $$ on a minute by minute basis, then it is very important to stand behind your actions. This tends to "spill over" to the rest of a traders life, and if they say "done" to someone (a bet, a verbal agreement, etc.), there is a strong chance that the agreement will be adhered to.

There are always some bad apples, but traders, for the most part, are honorable people...doing a job they enjoy...sometimes for the money, sometimes because they can't perceive doing anything else.

My 2 cents...

Don

 

[OPTIONAL777]

Originally posted by Don Bright
Having given thought to the original post put up by my friend, Mr. O777...brings a couple of things to mind quickly.

Floor traders are probably the most "ethical" of all traders, since their "word" (voice, hand signal, ticket, etc.) is their "bond" and their livelihood. When floor traders come across a person who "DK's" (doesn't know) their trades at the end of the day, causing out-trades and errors, they are quick to dismiss this person as a non-entity, and not trade with them...which is obviously the end of their career.

When we are changing hands with Hundreds of thousands of $$ on a minute by minute basis, then it is very important to stand behind your actions. This tends to "spill over" to the rest of a traders life, and if they say "done" to someone (a bet, a verbal agreement, etc.), there is a strong chance that the agreement will be adhered to.

There are always some bad apples, but traders, for the most part, are honorable people...doing a job they enjoy...sometimes for the money, sometimes because they can't perceive doing anything else.

My 2 cents...

Don

Yes, there is honor among thieves too.....

If they could get "away" with cheating, do you think they wouldn't do it because of their deep moral and ethical convictions?

That is total bullshit, and I suspect you are making a strawman argument in some way to defend your own unethical practices in the marketing of your firm here in the forum. Traders are just playing by the rules of the game, as they know if they break the rules they don't get to play any more. Do a survey some time of floor traders, and ask them if they cheat on their taxes.

Saying that their work life "spills" over into their personal lives is about as strong an argument as saying that a priest would never sexually abuse a child because they are constantly preaching the Gospel.

 

[Don Bright]

Again, your comments are most enlightening. Sorry to hear about your childhood, let me know when it's over.

I doubt seriously that you have any experience with either floor trading or ethical conduct, or for that matter, even maintaining adult composure. Just keep in mind, your libelous comments are humorous for the most part, but can be incriminating as well.

I really wish you the best...

Don

 

[aphexcoil]

OPTIONAL777,

You have a pretty cynical view of the world.

aphie

 

[Don Bright]

Originally posted by aphexcoil
OPTIONAL777,

You have a pretty cynical view of the world.

aphie

I know, it's so weird with Mr. 777. I don't even blame people who are concerned about too much marketing or hype. But to always read sooooo much into every innocent comment is a liittle odd. He actually seems to be somewhat intelligent, and has a good sense of humor (albeit at my expense many times)...it's too bad that he cannot simply accept that the whole world is not out to get him (or anyone else for that matter).

Don

 

[exce26]

I never saw any single ethical trader!
I don't even remember how many ethical men I have ever seen in this business world....

 

[OPTIONAL777]

Originally posted by Don Bright
Again, your comments are most enlightening. Sorry to hear about your childhood, let me know when it's over.

I doubt seriously that you have any experience with either floor trading or ethical conduct, or for that matter, even maintaining adult composure. Just keep in mind, your libelous comments are humorous for the most part, but can be incriminating as well.

I really wish you the best...

Don

Libelous comments?

Try making a case in a court of law for libel against a claim of being "unethical" made on an on line forum by an anonymous poster.

I would relish the chance for a full and detailed "discovery" process, the negative publicity, and bringing in others to testify on my behalf.

You set yourself up as a public figure, claim to not be paying for the time you advertise here in the forum, make comments about people's upbringing.....


Try proving that you are "ethical" in your business practices.....try proving that you have been "damaged" by my comments and the comments of others. After all, you are not advertising here in the forum, right? In fact you have thanked me for the exposure, and labeled me your "marketing assistant" after comments that some deem as negative, thus giving me total license, right?

Libelous and incriminating comments? Fat chance.

That you need to take the time to respond to each and every criticism is the most "incriminating" evidence anyone who is evaluating your ethical, moral, marketing, and self-esteem needs.

777

 

[Don Bright]

I'm simply smiling now, 777, and "anonymity" ...you've got to be kidding yourself.

Don't worry, you're safe, that's just not my style.

Sure, I respond as a mental game, nothing more....it's slow today. I just don't like it when we leave civility behind, despite our personal feelings.

You ought to check out "Bloodwork" the new Clint Eastwood movie. There are some incredible parallels to our "rivalry' or "competiton" of sorts. Right down to the heart surgery that Clint just had in the movie. You would have the co-starring role, his neighbor on the boat next door.

Don

 

[I Missed Boat]

777 may be cynical, but throwing the word "libel" and "incriminating" is stupid. I'd react the same way. And it diminishes the seriousness of legitimate accusations of libel and criminal behavior. Don, I have yet to ever insult you. But I'll say this now, cut the crap buddy!

 

[Vtechno]

This is an interesting philosophical thread which numerous of veteran traders contributed to. Traders can make or break companies and even move currencies in the short term just by clicking some buttons (in modern days). ET can be a great resource when used appropriately.