The fact that a guy makes a trade does not mean he is either greedy or indifferent toward his fellow man. A trade is a trade. Who is on the other side of the trade is impossible to know. It could be a commercial interest hedging a portfolio, it could be an institution trying to establish a position quickly so that they could later do a buy or sell program with particular stocks, it could be one of your fellow traders taking a profit (unless of course you always buy the low and sell the high...I hadn't noticed you doing that). In fact, we don't even have a clue as to whether anyone is playing the market with their rent money. I mean, the minimum these days on futures is $2K as I understand it...that's one hell of a lot of rent. But what I find interesting is that you ASSUME these pitiful circumstances in order to accuse everyone of being indifferent and greedy. But of course you THINK about it. You ASSUME these pitiful traders that buy/sell from you. And yet YOU continue to trade with them. What does that say Tampa? That another load of crap Tampa. Have you ever wondered what the desire for stock ownership might be if you could not lay the risk off in some manner by hedging in the futures market? To hedge do you not need a speculative element on the other side of the trade? The fact that YOU believe that a market serves no purpose doesn't make it so Tampa. Do you think mortgage companies use treasury futures? It's called laying off risk....and in the process of laying off risk YOU are given an opportunity to profit. Why not just make the same statement about ALL the secondary markets? Why Tampa could revamp the capitalistic system singlehandedly. We could STOP the secondary markets like the NYSE because some lady from Tampa is playing MSFT with the milk money. Of course, with no secondary market (read liquidity) who exactly is going to buy the stock that enables the embryo company to raise money to develop and sell their products. It is not an unhealthy attitude to trade markets without guilt. Somehow you got that backwards. What's unhealty is to perform a daily activity that you feel guilty about. And as Daniel mentioned, perhaps this unhealthy psychological setup that you have mentioned more than once, is why you subconsicously lose money on a consistent basis. Maybe the problem you have has nothing to do with being able to identify a "short skirt". Maybe it has to do with subconsciously donating your money to a worth cause...the guy that's trading with his rent money. OldTrader
Sorry guys but this is such a senseless discussion. Not only do you not know who/why/how the "other person" who is taking the other side of your trade, the process of trading is a round turn process. If you don't understand how that makes this entire discussion moot then you shouldn't be trading. Now the second reason this whole discussion is pointless is that the vast majority of the world is based on some kind of capitalism. Survival of the fittest, etc. Communism and socialism both failed. If you even consider "feeling bad" about someone "taking the other side" of your trade, did you feel bad when you won some award or some student body office and someone else loss? Do you feel bad when you get a raise because some co-worker did not or would get a less raise? Do you feel bad if you happen to drive only 31 mph instead of 35mph and end up causing the driver behind you to run the red light and gets a ticket? If you scare a butterfly into flying from one flower to another and that causes a tsunami half-way across the world do you feel responsible? Ok, can we now put this thread out of its misery?
My Dearest Old Windbag, I am pleased to hear that you trade in order to provide a public service to the humanity. Perhaps I have give the impression that I am impressed with your long-winded folksy posts that so enthrall the newer kids on the block. Or perhaps I have given the misimpression that I desire your input on whatever "problems" you see in my trading, or my very being for that matter. In the past I have tried to be polite in responding to you. I will no longer do so. Your insistence on barging into threads with your blatant attempt to have the newer kids grovel at your feet, and drink from your troth of knowledge is becoming just a tad annoying. I would sight as an example your trashing of BrandonF's journal on Saturday. Insofar as this thread is concerned, I simply asked a question to see what the response would be. Unlike you, I do not pretend to know what is "best" for others. Nor do I attempt to dictate how others should feel, or how they should think. But I thank you ever so much for your thoughtful input, on this thread, and all the others.
Tampa are you nuts? I'm "not impressed" with the fact that you are so willing to dis someone with 35 years of experience both upstairs and downstairs, especially considering you've spent years of time and hundreds of thousands of dollars and seem hardly further along than when you started. Does this board seek to intentionally drive out the quality or what?
I don't think anyone should feel guilty about anyone else losing their money unless they have done something to cause it. Trading is a zero sum game in many aspects particularly futures, I think as investors go a little different story but if you have seen and heard the goings on in Worldcom, Tennant HealthCare etc in the US and Vivendi in France than every investor should be alert. A trader is a career, do you feel sorry for the guy who loses in a professional environment? Nope I am sure - why because he can cover the rent? If that is the answer one would have to say you shouldn't have a career as a trader if you can't cover the rent. Therefore in that situation you are a gambler - and do you feel sorry for the guy who loses at Black Jack or the horses? All in all I never feel happy when people lose and the only people I feel sorry for are the unsuspecting parties like a spouse or child of a gambler masquerading as a trader!
If I own a pizza parlor and I put out the best damn pizza and 3 guys who make their pizza with ketchup go out of business......no way would I feel guily because they stink at what they do. In retail you go grab all the business you can from each other. It is called capitalism. What a dumb ass thread.
If you would review my post, you'll find that I responded to STATEMENTS that you made, not questions. I quoted the statements that I was responding to. I disagree totally with those statements. That said, anyone interested in your statements or my response can read them. I have nothing to add...I stand by my response in it's entirety. OldTrader
Tell you what....right after you tell us about your bowling expertise and escapades, I might be persuaded on the sugar story again. OldTrader
I'm not really an expert on bowling, I just enjoy the game. I feel dreadful for having mislead you, but I surely would like to hear the sugar trade story again, as I am sure many others would as well. Thank you in advance.