How do you feel?

Quote from whitster:

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I hate to say but you are delusional. I'm guessing you actually believe the economic numbers & studies which have been statistically engineered beyond belief. The funny part is that you'll never seach out how full of BS they are, even though it is as easy as reading the full reports, their footnotes and methodologies.
God forbid your illusion of the "great american economy" is shattered. The ostrich syndrome at its best. I doubt you even realize how fragile this paper economy is. But the Reagan administration was very wise in investing heavily in defense spending, it's the only factor that is keeping this charade going.

Learn your economic history before you start labeling others. It's really not that different this time.
 
"I expect very few of ET to truly grasp what is going on in the world, and keep believing into this "wealth creation" nonsense being preached by the current administration"

it is not "this administration". it is a bedrock fact of economics, capital, and human invention and has been recognized as such for over a century.

even the most ardent leftists (communists, trotskyites, etc.) admit that human interaction can CREATE wealth (iow, there is not a finite amount of wealth in the world ), they just disagree on HOW to best create it and disperse it equitably.

if wealth were not created, then wealth is finite.

that is the contrary proposition. if that were the case, that would mean that there is the same amount of wealth worldwide, that there was in the DARK AGES.

that is patently absurd. innovation alone creates tremendous wealth -yield per acre, etc.

this is not an arguable fact of economics. NO rational sentient human being denies that wealth is created through human innovation, interactiion, innovation, etc.

again, if what you believe were true, then no wealth has been created since the dark ages (or any point in our past). we're all just redispersing the same amount of wealth. the cotton mill, petrochemicals, fertilizers, hydroponics, electricity, running water, the interstate, modern medicine, nuclear reactors, the internal combustion engine, the plow, the forging of metals, the telephone, etc. all helped create wealth.

EVERY single organization that keeps stats (either in the USA or worldwide) such as the World Health Org, the UN, UNICEF, etc. etc. etc. notes that there is more wealth (less poverty present) in the world NOW than there was at various times in the past.

that is an IMPOSSIBILITY without the creation of wealth.

it simply amazes me that (some) people can have such a complete and utter misunderstanding of history, economics, and the world at large.

it is more logical to believe in a flat earth, than that wealth cannot be created.

with all thy getting, get understanding

hth
 
Trading in itself is an art...

Look at it another way: In what other job is your sole purpose to produce wealth for the wellbeing of your family, friends or whatever other phylanthropic cause you decide?

I say this in comparison to making a living by selling shoes, giving tax advice, cutting lawns, etc in order to pay your bills.

In this endevoir your sole purpose is to make good for yourself. Not meet a quota of witgets you must sell, You keep 100% of what you produce and have no one to answer to. Should you decide to build a shelter for the homeless or give to the poor, if that's what makes you tingle, more power to ya.
 
The economy consist of a lot of different areas that need to function in order to be as efficient as possible. Take away an accountant and the economy wont suffer. Take away all, and you will get chaos. Take away a trader and nothing will happen.. Take away all and the economy will suffer.

The less efficient economies dont have all the areas needed. And no this has nothing to do with exploitation. That is politics on a different level. History shows that the biggest exploiters and polluters are non democratic and inefficient economies. Like communists and facist.

Trading is just a job like any other.

ORM
 
Being a trader is ONLY a part of who I am. I have many roles in life, as a parent, a son, a neighbor, citizen , consumer, etc.. I have no clue on how my trading impacts this world.
For me, it is only a way to earn money and this enables me to be, from a financial perspective, a better parent, son, etc... And, for me, this is a lot.
 
Life is what you make of it. You can have friends, go to functions and do what you want to do. It doesnt matter what you do for a living.

Are you being productive and doing a service to the community? I wouldnt really worry about that. Walk around your community and look at those people working regular jobs. I went to the bank the other day and looked around at all the employees working there. I dont believe they were doing anything that was truly productive although it appeared that they had respectable jobs.

If you have a roof over your head, food in your mouth and clothes on your back, thats all you should worry about. A lot of people in this world struggle to have just that.
 
I'll put it this way. I don't think there is anything "noble" or heroic about trading. But it is a respectable career, imo, and one that you will only succeed in if you master YOURSELF before the markets (your emotions, your prejudices, your biases, etc.). The market is humbling and a wonder to behold, and as much as I try to be machinelike and dispassionate in my execution, I do really enjoy trading.

What is noble imo is working hard to support yourself and especially your family (if you have one), whether you are a trader, a construction worker, a cop, a teacher, or whatever. puttin bread on the table.

What I love about trading is the democratic nature of it (at least when u are screen trading). The order book does not know if u are male, female, old, young, a PhD or a high school dropout, black, white, atheist, christian, jewish, etc.

you have nobody but yourself to blame if you can;'t make it as a trader . the markets aren't "rigged".

and if u can't, that's fine, but take responsibility for your trades.

I think trading is very humbling in that regards. In many areas of life - politics and certainly the "soft sciences" like political science, philosophy, literature, sociology, etc. - you can stick to your opinion and swim in cognitive dissonance no matter HOW much the world at large doesn't agree with your petty theories, prejudices, biases, ideology, etc. in trading, if you can't admit you are wrong, the market will make it VERY clear to you that you are, by grinding your account down.

the market creates perverse incentives in the short run, but in the long run, the statistics will even out and you will need positive expectancy and sound methodology.

the market is also probabilistic, not deterministic. i don't know if setup X will work. i can know it works 81% of the time, for instance, but once i make the trade, it is out of my hands. everybody's else's actions - the market - will determine the outcome.

again, this teaches a valuable lesson in humility and in the way life is - sometimes you can do everything right, and still have a negative outcome. but, ceteris paribus, do the right thing consistently and you will be rewarded

that's pretty frigging kewl
 
The way I see it. I'm a small business , and small business is the back bone of the American economy. I pay taxes and invest in tomorrow. Could the world survive without us. Damn right, but it would be a heck of a lot less interesting. Just think someone maybe even feeding the poor on the 10 grand I lost last week.
 
The Traders' Pledge: (all together now, shouting!)

We create LIQUIDITY!

We produce a JOB for ourselves!

We help the ECONOMY and the IRS!

--------------------------------

Also, trading is social darwinism at its best. If you start out in the restaurant business you might need a whole year before you go bankrupt. In trading it can be easily done in 1 month... :)

PS.: Future and option traders are insurance salesmen....
 
no.

brokers are insurance saleman.

im not selling anybody anything they don't want.

i put my offer in there, and somebody takes it.

and i bid and somebody hits it

traders are not salesmen.

we are cowboys, on a steel horse we ride :)
 
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