How insidious is your patriotism ? | Forex Factory

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How insidious is your patriotism ?

  • #1
  • First Post: Jul 2, 2007 9:37am Jul 2, 2007 9:37am
If you are a national of a country who's currency is on the slide you can decide this is good for exports or bad for your national prestige.

If you think it is bad for your country's prestige, how easy is it for you to 'bet' against your own currency in that situation ?

Is it a just another mental discipline for a trader to perfect, or is it always there gnawing away that you would like it to go up, and every now and then it affects your trades ?

In a nutshell, does patriotism interfere with trading judgement sometimes ?
  • #2
  • Jul 2, 2007 9:40am Jul 2, 2007 9:40am
Quoting allserene
If you are a national of a country who's currency is on the slide you can decide this is good for exports or bad for your national prestige.

If you think it is bad for your country's prestige, how easy is it for you to 'bet' against your own currency in that situation ?

Is it a just another mental discipline for a trader to perfect, or is it always there gnawing away that you would like it to go up, and every now and then it affects your trades ?

In a nutshell, does patriotism interfere with trading judgement sometimes ?
I like to think of my self as patriot but I feel about as much remorse on betting against the NZD as I would flushing the toilet.
  • #3
  • Jul 2, 2007 9:43am Jul 2, 2007 9:43am
Quoting allserene
In a nutshell, does patriotism interfere with trading judgement sometimes ?
NO, not for me... it's a business
  • #4
  • Jul 2, 2007 9:51am Jul 2, 2007 9:51am
It's a bit like betting on your kid to lose the final of the 100 metres sprint on school sports day... the test of a born trader.

Both my wife and my ex wife say I am emotional detached (using alternative words) so perhaps I ought to get into trading more...
  • #5
  • Jul 2, 2007 9:53am Jul 2, 2007 9:53am
Quoting allserene
It's a bit like betting on your kid to lose the final of the 100 metres sprint on school sports day... the test of a born trader.

Both my wife and my ex wife say I am emotional detached (using alternative words) so perhaps I ought to get into trading more...
Yeah I bombed my account when I first started because every dollar was like small child to me.

Now I don't mind cutting them loose

**EDIT**

Every once in awhile
  • #6
  • Jul 2, 2007 10:02am Jul 2, 2007 10:02am
If your patriotic in this world then you haven't learned your lesson yet.
You get screwed every day and still hang on to your nation or the oppressing idea behind it?

Why should it affect my trading? Because my country is so great at destroying the planet, has better PR, because it lies better than others or because they have better weapons or because my people are just as stupid as others?
  • #7
  • Jul 2, 2007 10:45am Jul 2, 2007 10:45am
Go Deutsche Mark!!! Oh wait, you gave that up so that you can support the Albanians. Too bad!
  • #8
  • Jul 2, 2007 10:48am Jul 2, 2007 10:48am
Quoting Dopey
Go Deutsche Mark!!! Oh wait, you gave that up so that you can support the Albanians. Too bad!
  • #9
  • Jul 2, 2007 12:34pm Jul 2, 2007 12:34pm
Couldn't give a toss, as long as I am following it and making money

There's no room for sentiment as far as I am concerned.
  • #10
  • Jul 2, 2007 12:46pm Jul 2, 2007 12:46pm
i'm a modern mercenary... as long as i make money don't care too much about patriotism.

btw: some economies really need a strong/weak currency, i don't think that fed, boj, boe and others just leave theyr currency floating at the will of traders and funds. in my view they set the trend
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #11
  • Jul 11, 2007 4:02am Jul 11, 2007 4:02am
On Foregin Exchange market i know just one rule - money. No matter USD or JPY it.
  • #12
  • Jul 11, 2007 4:38am Jul 11, 2007 4:38am
Quoting allserene
If you are a national of a country who's currency is on the slide you can decide this is good for exports or bad for your national prestige.

If you think it is bad for your country's prestige, how easy is it for you to 'bet' against your own currency in that situation ?

Is it a just another mental discipline for a trader to perfect, or is it always there gnawing away that you would like it to go up, and every now and then it affects your trades ?

In a nutshell, does patriotism interfere with trading judgement sometimes ?
Patriotism does not help your nation's economy, any more than a strong currency value helps exports(quite the opposite infact). The Japanese learned this and became the world's no.1 capitalist economy, the Brits loved the Queen and had to learn the hard way.

I see only numbers.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #13
  • Jul 11, 2007 7:40am Jul 11, 2007 7:40am
I'm a Patriot. I love America and all that she stands for. That being said, if her currency is going down, I'm shorting that bitch.
So far so good.
  • #14
  • Jul 12, 2007 3:08am Jul 12, 2007 3:08am
profit from it, and use the profit to the good of our nation.

use domestic broker already help alot i guess.....
  • #15
  • Jul 12, 2007 7:43am Jul 12, 2007 7:43am
Quoting paul2
I'm a Patriot. I love America and all that she stands for. That being said, if her currency is going down, I'm shorting that bitch.

wow...but dollar is really decreasing...
  • #16
  • Jul 12, 2007 7:58am Jul 12, 2007 7:58am
Patriotism has nothing to do with it - why putting yourself in front of a speeding train? Few years ago I laughed at forecasts of tumbling dollar, but who could guess that american voters would crown Bush the Second again???

Blind mindless patriotism is exactly what's slowly destroying the good old USA... Useful patriotism is when you see what's wrong, point that out and try to make it better, not just "love everything".
"Luxury is one of the basic needs", (c), Don Corleone
  • #17
  • Jul 12, 2007 8:07am Jul 12, 2007 8:07am
Patriotism is an ethereal concept like the guy with the grey beard sitting on the clouds - you know the one..
It's a very powerful and real emotion but hard to define and nothing to do with forex I am sure

So I am with the rest of the posters here :

a dollar is a dollar and a dime is a dime
and I love my Toyota - all of the time !

I would buy a north korean car IF it was better than a Toyota

eating the corpses of the other passengers was always a practical means of ensuring the majority survives ...
  • #18
  • Jul 12, 2007 8:25am Jul 12, 2007 8:25am
Quoting Firstboss
Patriotism has nothing to do with it - why putting yourself in front of a speeding train? Few years ago I laughed at forecasts of tumbling dollar, but who could guess that american voters would crown Bush the Second again???

Blind mindless patriotism is exactly what's slowly destroying the good old USA... Useful patriotism is when you see what's wrong, point that out and try to make it better, not just "love everything".
I am with you on that - the 'love everything crowd' can be very aggressive and they do get raging about the currency thing - blaming foreigners without seeing what is causing it... I reckon the crisis will come and go and the US will bounce back with more 'original' values - it always has..

But there is some grief coming between now and then !
  • #19
  • Last Post: Jul 13, 2007 10:00am Jul 13, 2007 10:00am
“Patriotism is your conviction that this country is superior to all other countries because you were born in it.” George Bernard Shaw

When we as traders, make a trading decision, it should have no emotional basis. Traders make calculated trade decisions, gamblers make bets. You can do either one and make money, you can also do both and lose money.

Here's another good point that applies to trading and patriotism:

“You're not supposed to be so blind with patriotism that you can't face reality.” Malcolm X
Poverty: the only thing money can't buy.
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