The thing about "day trading"

I don't know you but this is got to be one of more stupid posts. I cannot imagine anything in this world that is worthwhile? Your born with nothing and leave with nothing. So what is your point?

I personally am rotating money in and out of Currencies/Options/Equities/Futures and creating a living for tens of thousand of people in the infrastructure of trading as a meaningful industry to society.

I am giving companies money to invest with and their associated markets liquidity to fund foreign governments that are poverty stricken.

I am providing the catalyst for small companies to grow and employ people.

I am providing cash flow for our banking system to function.

Your post is naive and your self righteous attitude gets you no where with god.

Michael B.
 
The same question can be posed about the entire legalized gambling industry. What about Las Vegas? Well, they offer entertainment. Gambling is a form of entertainment, and to some people, trading is actually a form of gambling.
 
Quote from ElectricSavant:


I personally am rotating money in and out of Currencies/Options/Equities/Futures and creating a living for tens of thousand of people in the infrastructure of trading as a meaningful industry to society.

Michael B. [/B]
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Very true. The byproduct of both trading in financial markets and gambling in Las Vegas is job creation for the people who support such service-oriented businesses. In that sense, "value" is created.
 
This is true.

But the successful "day traders" consider it work, not gambling. Actually trading is just data entry and rather boring.

I once told someone who asked me what I did, that I was a button pusher. They asked what did you say? then the music started and we could not talk...lol :)

Michael B.


Quote from 1st_samurai:

The same question can be posed about the entire legalized gambling industry. What about Las Vegas? Well, they offer entertainment. Gambling is a form of entertainment, and to some people, trading is actually a form of gambling.
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if we don't trade, there will be many brokers that will go jobless :). Day traders create job for brokers. In a way whenever I call my broker and ask for any information they treat me with respect cos they know I am their big clients and without me they most likely will go jobless.

When I was working, my spending power is limited I do not have money to buy a lot of things now that my spending power increase I buy more and more. That should help the economy. Don't you think so?


Quote from Maharaja:

Don't you "day-traders" or any kind of full-time (NOT part time, or people that trade as a second job) traders feel like your not accomplishing anything? I'm not trying to offend anyone, but I've assessed the whole "becoming a day trader" path and it just seems like there is no substance behind the job. Yes, it gives you freedom, you can work naked in your bedroom, etc... but even if you are immensely profitable what have you done for society? Buying and selling of a company/currency/future/etc for a quick profit, but what is the higher end result? If you are a day trader your whole life, what have you accomplished? What will people remember you for? If your a low level engineer, at least your building things, a doctor cures people, an investor helps a company grow, a hedge fund manager makes money for people, a janitor keeps place clean, a hit man kills people (at least it is something!)... What does a day trader do for society? Does this bother any of you? Maybe it doesn't matter. Just wondering how everyone else feels...
More...
 
Quote from Maharaja:

Don't you "day-traders" or any kind of full-time (NOT part time, or people that trade as a second job) traders feel like your not accomplishing anything? I'm not trying to offend anyone, but I've assessed the whole "becoming a day trader" path and it just seems like there is no substance behind the job. Yes, it gives you freedom, you can work naked in your bedroom, etc... but even if you are immensely profitable what have you done for society? Buying and selling of a company/currency/future/etc for a quick profit, but what is the higher end result? If you are a day trader your whole life, what have you accomplished? What will people remember you for? If your a low level engineer, at least your building things, a doctor cures people, an investor helps a company grow, a hedge fund manager makes money for people, a janitor keeps place clean, a hit man kills people (at least it is something!)... What does a day trader do for society? Does this bother any of you? Maybe it doesn't matter. Just wondering how everyone else feels...
More...

I only trade so I can afford Penis enlargements for my dogs.


This is the only thing I can offer to a narrow minded **nt like you.
 
You're right I said speculation is parasitism to society

>what have you done for society?
Now one could reverse the question: what society has done for me :D
If there are so many people willing to go there it is because society has made it the only field left where monopolies and taxes haven't forbidden you to be your own entrepreneurship. Dozens of years ago the industrial enterprises were belonging 60% to the people. Now 80% belong to corporates.

I've have been businessman I have contributed to create jobs I have contributed to "society" I know what real economy and business is now I'm fed up of the bankers that create booms and burst and create unstable conditions for economy for their own profit so that as I feel I'm as intelligent as them and even more I have decided that it is my best interest to come to trading. And it is for the same interest that many come also. The difference is that I will return the money back to real economy and really distressed people. I hate to talk about donations to fundations and stuffs like that because many are just hype and tax evasion but I will do something and silently because I don't like hype ( btw don't give to the red cross there are some financial scandals there).

Now I won't advise anyone to do the thing if they are not sufficiently prepared to do so.

Quote from Maharaja:

Don't you "day-traders" or any kind of full-time (NOT part time, or people that trade as a second job) traders feel like your not accomplishing anything? I'm not trying to offend anyone, but I've assessed the whole "becoming a day trader" path and it just seems like there is no substance behind the job. Yes, it gives you freedom, you can work naked in your bedroom, etc... but even if you are immensely profitable what have you done for society? Buying and selling of a company/currency/future/etc for a quick profit, but what is the higher end result? If you are a day trader your whole life, what have you accomplished? What will people remember you for? If your a low level engineer, at least your building things, a doctor cures people, an investor helps a company grow, a hedge fund manager makes money for people, a janitor keeps place clean, a hit man kills people (at least it is something!)... What does a day trader do for society? Does this bother any of you? Maybe it doesn't matter. Just wondering how everyone else feels...
More...
 
Quote from Maharaja:

Don't you "day-traders" or any kind of full-time (NOT part time, or people that trade as a second job) traders feel like your not accomplishing anything? I'm not trying to offend anyone, but I've assessed the whole "becoming a day trader" path and it just seems like there is no substance behind the job. Yes, it gives you freedom, you can work naked in your bedroom, etc... but even if you are immensely profitable what have you done for society? Buying and selling of a company/currency/future/etc for a quick profit, but what is the higher end result? If you are a day trader your whole life, what have you accomplished? What will people remember you for? If your a low level engineer, at least your building things, a doctor cures people, an investor helps a company grow, a hedge fund manager makes money for people, a janitor keeps place clean, a hit man kills people (at least it is something!)... What does a day trader do for society? Does this bother any of you? Maybe it doesn't matter. Just wondering how everyone else feels...
More...

Similar topics have been discussed many times on this board. Please do a search.:p

http://www.elitetrader.com/vb/showthread.php?s=&postid=322743&highlight=office#post322743

http://www.elitetrader.com/vb/showt...20180&perpage=6&highlight=office&pagenumber=1

http://www.elitetrader.com/vb/showthread.php?s=&threadid=16758&highlight=office
 
The idea of self-worth is a much discussed topic in literature, psychology and philosophy. It seems to be a major human preoccupation. Here are a few quotes on self-worth:

Persons of high self-esteem are not driven to make themselves superior to others; they do not seek to prove their value by measuring themselves against a comparative standard. Their joy is being who they are, not in being better than someone else.
- Nathaniel Branden

The individual's most vital need is to prove his worth, and this usually means an insatiable hunger for action. For it is only the few who can acquire a sense of worth by developing and employing their capacities and talents. The majority prove their worth by keeping busy.
- Eric Hoffer

There are many who find the burdens, the anxiety, and the isolation of an individual existence unbearable. This is particularly true when the opportunities for self-advancement are relatively meager, and one's individual interests and prospects do not seem worth living for. Such persons sooner or later turn their backs on an individual existence and strive to acquire a sense of worth and a purpose by an identification with a holy cause, a leader, or a movement. The faith and pride they derive from such an identification serve them as substitutes for the unattainable self-confidence and self-respect.
- Eric Hoffer

The less justified a man is in claiming excellence for his own self, the more ready he is to claim all excellence for his nation, his religion, his race or his holy cause.
- Eric Hoffer

It seems that when we are oppressed by the knowledge of our worthlessness we do not see ourselves as lower than some and higher than others, but as lower than the lowest of mankind. We hate then the whole world, and we would pour our wrath upon the whole of creation.
- Eric Hoffer

Charles
 
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