Cause and Effect... isn't that, in fact, very subjective? How do you determine cause and effect? It's only your perception perceiving it to be... I don't want to get into Matrix kinda stuff but as for trading... choice is more appropriate isn't it? You choose to return something from what you earned back to society other than taxes. But why? Are you obligated? or you "feel" that you are or you should? Isn't that your personal preference? Where is the cause and effect of what you feel to me and others, considering that it is not an obligation? Is it feel? Is it instinct? Is it your moral vendetta of money being evil? Is it just natural human tendency?
OK.. you added the capitalism part. So we need speculators for capitalism... or There's speculators because of capitalism... ... As for freedom... I take it as freedom of choice, then society chose capitalism. You need to drink some coffee dude... Maybe I do...
***You choose to return something from what you earned back to society other than taxes. But why? Are you obligated? or you "feel" that you are or you should? Isn't that your personal preference? Where is the cause and effect of what you feel to me and others, considering that it is not an obligation? Is it feel? Is it instinct? Is it your moral vendetta of money being evil?*** Who says I give a penny to altruistic causes besides the millions of dollars that were forcefully looted from me by the government? As far as money being evil(???!!!)...I think a little Objectivism 101 might help you understand my philosophy: _________________________________________ "So you think that money is the root of all evil?" . "Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil? "When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honorâyour claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil? "Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motionsâand you'll learn that man's mind is the root of all the goods produced and of all the wealth that has ever existed on earth. "But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man's capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is madeâbefore it can be looted or moochedâmade by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can't consume more than he has produced.' PLEASE READ THE REST HERE: http://www.atlasshrugged.tv/speech.htm
Yes, I completely agree with Objectivism. So... asking what good is a trader in society/market is BS. Which I do agree.
Trading? It's one way to make an honest living. Non-institutional persons are allowed to buy and sell securities, etc., along with the institutional participants. The market needs participants to function well. The more the better. Such participation is encouraged. PDT's now get 4/1 margin so as to trade more shares. Trading is an investment activity and the aim is to make profit on the short-term movement of prices. It's strictly a money making activity. If you are good at it (very few are) you make a good living. You are a consumer with money to spend and you pay your taxes as every decent citizen should. If you feel that you should instead be involved with the delivery of goods and services then go there. Trading and investing is only about generating cash, cash that you need to live on. I say why go work for someone for a paycheck when I know how to make money in the stock market. If you want to participate, put up your capital and go to work.
Trading by itself is one of the last pure capitalism plays. Put down your money. If you're better than others...you win. If not...you lose. If your ego is bigger than your ability, you'll become one of the losers. I don't apologize for making lots of money from trading. I don't care if others see me as a parasite. Democrats love me because I pay a high percentage of my income to the welfare state. Republicans see me as a rugged individual. I see myself as successful in a highly competitive industry. When I see what Britney Spears makes I feel no guilt. I may lose everything tomorrow and it's all part of the game. Who cares what others think? I don't and never will.
We provide liquidity, and a place for all the "investor types" to get in and out of their various funds, etc. Isn't the NYSE Specialist the consummate "day trader" - he participates in the only trading game that is not "zero sum" ....because companies actually make money (some), which trigger price increases, pay dividends, etc. Whereas all futures and option games are zero sum (minus fees). Anyway, I don't see a moral dilemma by participating in the Capitalist structure, legally and forthright. Don
there is sooo much money lost in all the markets - day in and day out - TONS of money - so somebody HAS to come and take it - it's neither good or bad - it's a job that has to be done. if you don't want to take it (because it could be bad money - or bloody money - or whatever) - well somebody else will take it - the dudes of GS or ML or MSDW - do you think they feel guilty for taking it??
What! All this! and trading is supposed to have meaning too.... It is simply too much to grok... ramora