You are NOT a trader, the markets don't need you at all. Markets may function perfectly without you. You are an speculator, those evil creatures who jack up oil prices, and short good companies into bankruptcy. Or so the media says. If you can't handle the fact that you are an speculator, without picturing yourself as evil; you'll have a hard time making profits, since you may try to trade (or speculate) when really there are not clear chances.
I am not evil. Screw the media. Screw the ignorant. And screw the leftist fools who demonize capitalism (not that we even have it in USA) Besides, the fed/banking policy is more responsible for creating booms and busts such as the housing bubble than anything else. (and stupid investors) We'll give the banks and the wall street scumbags lots of cheap printed money! YAY!!!!! Anyone can get a house! So you work at McDonald's? Want a mansion? Sign right here!!! Got a pen in your hand? You're qualified!!!!!!!
We're all speculators IMO. Questions about morality are irrelevant. Natural selection takes care of bad speculators/traders.
The market needs you regardless if you're a Speculator, Hedger or Investor. Good things or bad things associate with either of the above categories. Thus, if you want to take the higher moral ground and use what you are to benefit others (see past threads on this topic)... A speculator, hedger or investor can do such. Mark
Does anyone come into trading thinking they just joined the peace corp? NO, we know our place and understand its not helping anyone in any real human way. But...you can use some of your gains to do good in the world or in your own community if you are feeling guilty.
as long as we contribute to the good of the world we live in it should not matter what we do if it is legal
Sure, but you speak of speculating as it's a bad thing... In the commodities arena, some counterparty has to take on the risk that farmers or producers are trying to offset. This parallel works in every market. People put a premium on risk management and transferring risk to a third party. In this case, it's speculators and we just happened to be paid handsomely for assuming that risk (some of us anyway ).
YES! Because if you're called evil and greedy means so many are jealous and consequently (as they have reasons to be jealous) means you are very successful in your profession!