The thing about "day trading"

Discussion in 'Professional Trading' started by Maharaja, May 6, 2004.

  1. absolutely, uptik. thanks for the post !!

    surfer :) :) :)
    #11     May 6, 2004
  2. GSCO


    Are you serious??

    Dude don't get all rightious on us. Please.........Like you've done more good for the world than any of us.

    What do you do for a living??
    #12     May 6, 2004
  3. Ebo


    #13     May 6, 2004
  4. Mecro


    As opposed to what?

    The whole Finance industry, CEOs, CFOs, Lawyers, Real estate agents, or any other commission based job.

    Wake up man, this is a capitalist society. All that do good moral fabric is worth nothing.
    #14     May 6, 2004
  5. Banjo


    #15     May 6, 2004
  6. s0Lo


    Well, I'm not a trader of any sort... more of an aspiring one. So dont quote me on this.

    However, i think you are forgetting that if the last 100 years showed us anything, it is the failure of societies where people are forced to do things for the common good. People are motivated by one thing, and one thing only - self interest.
    So in your analysis of other professions, maybe those that have tangible outcomes out of their work, besides a paycheck, you must think about exactly why people do what they do. Do you think the football player plays because he wants people to enjoy themselves? Not in my book. He's playing because he likes to play. He also probably likes getting payed top buck. It varies with people. Same thing for an engineer. No engineer I know is thinking about the happy people on the bridge he will build when he's learning advanced calculus.
    No, the social benefits are more of a byproduct of doing something you enjoy, because when you do something that you are passionate about, the results are usually much higher than average.
    Now if we take the trading industry as a case study, we all know that it has a notoriously low survival rate. That low survival rate automatically wipes out anybody who is not passionate about what they do. Talk to any seriously profitable trader about the markets, and I'll be damned if you can shut them up.
    "That's great" you say..."But they still dont contribute anything to society except taxes" (which is enough in and of itself). Well, in their daily routine they still provide society with one important factor - labor. They keep the economic arteries flowing and alive. And the few profitable ones have it in their power to use that money for whatever good they want. Whether its buying pizza or building a museum, their money still goes back into the economy one way or another, which in turn pays the pizza boys salary, the engineers salary, and the football stars that they can keep on doing what they love doing.

    Now, of course this is a oversimplified model, but I hope you see my point.

    Just my 2c.
    #16     May 6, 2004
  7. ig0r


    they provide liquidity :D
    #17     May 6, 2004


    "What will people remember you for?"...."seems like there is no substance behind the job."

    Answer me this...How does your average secretary or waiter add any "substance" to the rest of society?

    Well they account for probably 1/4-1/3 of the working female population in the U.S., and I bet that paycheck they are earning has a great deal of "substance" to those who rely upon them (their family).
    #18     May 6, 2004
  9. they keep the shills on this board employed :)
    oh, wait that's a reason to stop daytrading
    #19     May 6, 2004

  10. Dude.. u have your head in the toilet.

    Good morals are worth a lot.

    I think a lot of the younger traders like myself dream of getting to a point where they feel they have the confidence to start managing other people's money professionaly.

    #20     May 6, 2004