What good do daytraders do to society?

[stockoptionist]

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Quote from candletrader:

By generating profits for ourselves, we are collectively enriching society through paying taxes, providing a good life for our families, and enabling us to be in a position to be charitable...
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Quote from TGregg:



Without stating any sort of moral judgement on either trading or theft, stealing from the rich also does this. In other words, this is not a justification - if that is what you seek.

Oh, and yes when one "washes" the dirty money through a business, one pays taxes.

I have to agree with TGregg on this one. Professional card-counters at casinos can make the same argument as Candletrader does, yet, as I pointed out before, we don't normally consider these people as gainfully employed or economically productive. The justification has to lie somewhere else. Thus far, from reading the posts, I conclude that the strongest justification lies in the liquidity argument and the market-making argument (i. e., without someone making the market people are probably less inclined to innovate and introduce new things of value into the economy). These two constitute the strongest reasons for the need of traders, intraday or otherwise.

stock.