Because trying to figure out the markets takes a lot of mental energy and time, and generally speaking, people are lazy. They always want the solution handed to them, without any effort.
'That would be like saying buying a Big Mac is unethical' Yes, it is unethical to kill an animal and eat its flesh, bad karma. Did Jesus kill an animal and eat its flesh anywhere in the Bible....nope. Please go back to the scriptures.......if you believe in them. Let's put it like this: Making money or earning living in trading is much much more hard than making money via doing jobs, why????..........because the natural law is not with you. ps: plants, fruits etc. have lives too but eating them is ok because they are really low in the ladder of life forms.
I suggest you reevaluate your value system. Try not to get so brainwashed by PETA. Thanks, but I'm not Christian. You argue the beliefs of PETA and a literal view of the Christian Bible? You are one confused individual. For you, perhaps. Nice invention... "Natural law". I assume this "natural law" supports whatever view you happen to have, yes? Ah, so it's okay to go after the lower class lifeforms. Please hold still while I find a knife and fork. -Raystonn
Where is the evidence to support the premise that "90% of traders end up blowing their accounts"? Perhaps it is because a job is that which is most accomodating to those who would seek mediocrity. Faith is a poor substitute for thought; it is the negation of reason. If my own experience with the people of the world is representative, then it is their deficit of thought, their collectivist learned helplessness, to which we can attribute their failure. As to the question "Is trading ethical?", it is hard for me to imagine a more ethical or more equitable form of profit-seeking. No party is ever compelled to trade with another against their will. Each party trades of their own free will with the objective of individual profit. It is the very essence of capitalist society. And as to working in the employ of another, are we to believe that willfully exchanging ones time and labor for dollars is not a also form of trade? I am afraid that you will find the "scriptures" of little use here, little lamb. The shepherds of the markets will lead you to the slaughterhouse. -segv
I think the thread starter confused ethics with morality. (The hint was a reference to the metaphysical.) Anything that's not against the law is ethical. Ethics is morality codified. Ethics is not personal of what is right and wrong. Millions of people find capitalism to be right and they have laws which govern their acceptance of it. Therefore, in this very large group, capitalism is ethical. Trading is a necessary function of capitalism. Therefore trading is ethical. And that's why there are no laws preventing it. Hence, "if it ain't against the law, it's ethical."
<i>Fact: How many millionaires we see out of trading but see quite a few out of real world brick-and-mortar type establishments. SBA fact does however say that 50% of new businesses fail in the first year, but that's still better than trading.</i> How many millionaire = billionaire drug dealers are there? Many if not most of them are never caught or killed... the vast majority of middle to upper level illicit-drug related participants succeed. What does that say about ethics and morality? I would opine that less than 50% of the <b>serious</b> attempts at learning to trade fail. Key word is <b>serious</b> aspiring traders. That does not include people who open a $2,000 account, read a book or grab some tidbits of info and expect to make money right away. Those non-business attempts do not count... they were merely recreational gambling. So, first we need to define the definition of "failed traders". ** <i>Legal</i> is quantifiable, <i>Moral</i> is subjective. I personally tithe 10% of all business income at month's end, and for whatever reason(s) my trading success exploded upon starting that practice. I also participate in the wildlife conservation, defined as the scientific management of renewable resources. All wildlife species can no longer manage themselves without human intervention, because we humans long ago screwed up the predator - prey balanced harmony. ALL monetary funds for providing wildlife habitat and studies in the U.S. come directly from hunters, trappers and fishermen. ALL public lands set aside for wildlife (and hiking, biking, boating, camping) and pure wildlife sanctuaries are purchased thru sportsman dollars via licenses, Pittman-Robertson tax dollars and donations via Ducks Unlimited, Rocky Mountain Elk foundation, etc. ZERO dollars, not one paltry dime comes from PETA, HSUS or any other such fraud organizations for the purchase of wildlife habitat anywhere, ever. The mega-million "charities" spend their money internally on lavish salaries and advertising... not one penny on public lands for wildlife or human use such as hiking, camping, boating, biking. Please check your facts. If it weren't for the scientific management = harvesting of wildlife, there wouldn't be any wildlife at all. Hunters and fishermen support wildlife habitat squarely on our shoulders. PETA, HSUS and the other frauds are 100% immoral and unethical in their donated dollars usage versus what they purport to do. That Toll Brothers housing complex or new Super Wal-Mart going in next to you kills all wildlife presently living there while exterminating their habitat forever. Who/what is causing the majority of animal deaths? People's penchant for "development" and "progress".
'Thanks, but I'm not Christian' Then what are you? Given Christian would encompass all the denominations (Catholic, Protestants etc. etc.) 'Ah, so it's okay to go after the lower class lifeforms. Please hold still while I find a knife and fork.' What is this nonsense??????????? Talk substance maaaaaan! '"Natural law". I assume this "natural law" supports whatever view you happen to have, yes?' Risk/reward set up is the reason why 90% of traders have good fun for sometime and then end blowing up the whole account. Mathematics is the natural law and when you go against math, you are against nature. Futures, Currencies, Commodities all a) frequent trading b) playing with margins is calling for very low probabilities of EVENTUL SUCCESS, HENCE THE 90% DEMISE OF THE TOP GUN WANNA BE TRADERS.
The term "Christian" encompasses all denominations of, get this, Christianity. Your list of denominations have no bearing on a non-Christian. Do you truly believe you are making any sense? It sure sounds like it. If you mean taking on too great a risk of having a drawdown beyond available funds, then I would agree with that. You may trade all of these as (in)frequently as you wish. My best strategies swing trade futures, with an average hold time between 5 and 15 days. I believe you misunderstand the meaning of "margin" as used in the futures industry. It is actually a performance bond. It is not the same thing as margin used to purchase equities.
Yes - that is the right answer. Another point, is it ethical for your employer to cancel your vacation with your family, or require you to work weekends and until 1am at night like mine does or you lose your job? Is THAT ethical? Are they not being selfish? We have to live in the real world. Everyone is selfish - the ones to fear are the ones who do not realise that and pretend they are not when they are.
That is completely the wrong answer. About a year ago I had read about 60 books on trading, marked them all up, almost every thread on this and another forum, traded every day at 1am in the morning (I was in Australia -trading US open), took notes on everything, tested everything, and kept losing. Why? I was harder working and more passionate than anyone? Why did I lose boys and girls? FEAR FEAR FEAR. Fear is the mind and wallet killer. Every time. All the time. Mark these words as truth: Fear....in all of its forms...causes a human to do the wrong things.