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Are Traders bad people?

  • #41
  • Aug 21, 2011 12:16pm Aug 21, 2011 12:16pm
Quoting stulic
If you made money on someone's misery, you are a bad person imo, unless you at least donate some of your profits to the sufferers.
Lol. So if you dont donate than you are a bad person? Wtf?
Trading is a business. Its a playground for piranhas and the strongest survives. If you have any remorse for making money out of oil going up or earthquake moving stock market down than this business is NOT for you. You are not suitable to be a trader. There should be no emotions involved.

Btw, those rich people who are making donations are mostly doing it because they want to evade taxes. Not because they are such good person. There are expections offcourse but the main purpose of rich people donating is to evade taxes.
  • #42
  • Aug 21, 2011 10:12pm Aug 21, 2011 10:12pm
Quoting Forex5050
Yeah, I always hear bankers are bad people. Greedy, selfish, irresponsible and so on...

I have to admit when I first heard about Norway I was switching to my platform to look where the USD/NOK is. I made money when the Yen crashed in March (by buying USD/JPY after the crash) and I felt happy about the profit.

Am I a bad person?
I wouldn't say you or any other traders are bad people, it's just a very sad fact of life that money and material possession have somehow found it's way to be much more important than a fellow human being... that's not to say that you shouldn't be allowed to make money or have whatever job you so please, I'm just making an observation that has seemingly become a truth in the world, that there is money to be made in human suffering, and those that value money over human beings can make a lot of money.

Again, I wouldn't dare insinuate that you are a cold-blooded and heartless person.... actually just forget what I said, I don't think I'm explaining it correctly. I'll think on it and see if I can come back later and see if I can clear up what I mean...
  • #43
  • Aug 21, 2011 10:30pm Aug 21, 2011 10:30pm
If I may be so bold; You are only a bad person if you rob, plunder and kill for your money. You have the legal and justifiable right to take money from the markets if you can.
You put your financial well being at risk when you take a trade, Why feel guilty about taking a profit. It is what we do and if we don't plenty of others will.
We aren't ancient Romans so get over it and just trade.

Thank You
  • #44
  • Aug 22, 2011 2:27am Aug 22, 2011 2:27am
Hello,

http://www.brettsteenbarger.com/The%...%20Trading.doc
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #45
  • Aug 22, 2011 3:58am Aug 22, 2011 3:58am
Quoting soso
Hello,

http://www.brettsteenbarger.com/The%...%20Trading.doc
Fantastic! Thank you very much for link.
  • #46
  • Aug 22, 2011 6:38am Aug 22, 2011 6:38am
Quoting soso
Hello,

http://www.brettsteenbarger.com/The%...%20Trading.doc
Interesting article.
I have two remarks to it though:
1. Sounds a little to much like justification to me. If you are not feeling guilty about your trading career, why justify it? If you are feeling you are not producing anything and do not contribute enough to you community, society, family, world, whatever - start doing it! There are lots of ways of doing it and most of them do not contradict your trading activities in any way.
2. For anyone who, like me, remembers Ayn Rand's preposterous ramblings promoting and justifying laissez-faire capitalism, the lady should be the last person to use as a source of justification of our trading. Whatever one may think about people living off speculative markets, we are surely better that that
  • #47
  • Aug 23, 2011 4:59am Aug 23, 2011 4:59am
Quoting Giansar
2. For anyone who, like me, remembers Ayn Rand's preposterous ramblings promoting and justifying laissez-faire capitalism, the lady should be the last person to use as a source of justification of our trading. Whatever one may think about people living off speculative markets, we are surely better that that
Didn't even see your response, but I was about to post the exact thing, because I stopped reading once he brought in the Ayn Rand stuff. I have no idea why that woman is celebrated so much.
  • #48
  • Aug 23, 2011 5:14am Aug 23, 2011 5:14am
Traders are not bad people because they trade. They are just like players at a poker table: the cards are dealt, and the lucky and the skilled take money off the lesser so. Another day the tables may be turned. The house, or the broker has the most enviable position, and the gamblers, the traders, are just victims, more or less.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #49
  • Aug 24, 2011 2:13am Aug 24, 2011 2:13am
Quoting profook
Didn't even see your response, but I was about to post the exact thing, because I stopped reading once he brought in the Ayn Rand stuff. I have no idea why that woman is celebrated so much.
She is not celebrated enough. In order to understand her work and ideas you must first understand her origins and the historical context. She promoted her ideas in a period when socialism and even communism seemed to work better than the free markets and capitalism and many intellectuals thought that the latest two must be replaced by the former.
  • #50
  • Aug 24, 2011 4:29am Aug 24, 2011 4:29am
the bad traders are the currency manipulators - panda nation

my actions as a trader contributes to the cycle of wealth so if i short or long an event ..the better . . i am moving wealth around
practising coitus interruptus
  • #51
  • Aug 24, 2011 9:09am Aug 24, 2011 9:09am
Quoting Sauron
She is not celebrated enough. In order to understand her work and ideas you must first understand her origins and the historical context. She promoted her ideas in a period when socialism and even communism seemed to work better than the free markets and capitalism and many intellectuals thought that the latest two must be replaced by the former.
Oh, how I'd love to discuss the topic!
But I guess it's not the place...
  • #52
  • Aug 25, 2011 3:56am Aug 25, 2011 3:56am
Quoting Forex5050
Are Traders bad people?
I think majority of scams are in stock markets because brokers control the shares listed on a particular stock exchange in that country. Big players can manipulate the price of a particular stocks.

Forex traders do not have control over currency price change because it is determined by world events and international business.

I think stock exchange listed companies know they will have less profits or no profits in coming years but they still say "we will be profitable".

I think, now there are very few long term investors in stock markets. Majority of stock trading is daily trading or monthly trading.
Not a Single Losing Year for More Than 11 Years. Minimum 25,000 Euros
  • #53
  • Oct 13, 2011 3:29am Oct 13, 2011 3:29am
It may be naivety, but what has trading currencies got to do with being bad?

What we are entering into is a business deal, nothing more, and nothing less. If you let emotions take over your trades, then you become a loser. This goes for contributers to the moves in the market as well as your response to those particular moves.

If you are a bad person because you sell a currency when the country is doing bad, then the opposite must be true, that when you buy a currency when it is doing well, then you must be a good person...

Because you buy one currency and offset it against another one - by default, one is doing well, and the other is doing bad - regardless of the forces acting upon them, so therefor, a trader is not a bad person for trading a currency when a country has suffered. All they are doing is buying another currency becuase it is doing well against another...

If traders are bad because they are profiting off other peoples misfortune, then probably 99% of ALL professions could be viewed in the same way.

Builders
Gardeners
Retail
Medicine

The list could go on, but the above could be related directly with the issues in Japan over the last year... all of them would be profiting because they have lost something... I was going to include insurance, but they are even worse... they profit best when NOTHING bad actually happens in case it does....
  • #54
  • Oct 13, 2011 4:04am Oct 13, 2011 4:04am
Let me change the perception a little. I had this debate with my mom before.

This is what I told my mom:

Do you consider doing business evil? You take things which are much cheaper, repackage and sell it off much higher than it's actual worth. Most people will say "it is not evil" because you are providing something of value that somebody else deems worthy.

However, the truth is, the guy who is running the business is cheating your money. He is obviously overcharging you and making you feel as if it is ok. If you didn't know, the guy who sells your burger at 10$ actually only needs 3$ to break even. So is that evil to overcharge you 7$?

If you think that doing business is not evil because there is a mutual agreement, then trading is not evil because that is what we are in essence doing. A willing buyer and a willing seller.
  • #55
  • Oct 13, 2011 4:59am Oct 13, 2011 4:59am
business is bad and immoral

however I'm not a bad guy because I give around 50% of my trading profit to good causes, there you go
  • #56
  • Oct 13, 2011 5:02am Oct 13, 2011 5:02am
Quoting pippin4me
business is bad and immoral
Lol, it's not bad nor immoral.

It's gambling, if you find it bad or immoral you may consider investing your time & money in something that you find good & moral.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #57
  • Oct 13, 2011 6:13am Oct 13, 2011 6:13am
Quoting Forex5050
Yeah, I always hear bankers are bad people. Greedy, selfish, irresponsible and so on...

I have to admit when I first heard about Norway I was switching to my platform to look where the USD/NOK is. I made money when the Yen crashed in March (by buying USD/JPY after the crash) and I felt happy about the profit.

Am I a bad person?

It's simple. I'm a good person, but I don't have millions on my bank account. Banker has millions. Oh, what is the difference between us? He must be a bad person.

Regards,

Josef
  • #58
  • Oct 13, 2011 9:14am Oct 13, 2011 9:14am
There are good and bad people all over the world, doesn't matter, what they do and how they make money for living.

Give me a definition " Bad person".

Man killed two guys. - Now we think he is bad.

Man killed two guys that wanted to blow up a train. By killing them he saved 500 people. Now he is a hero.

It depends...
  • #59
  • Oct 18, 2011 8:38am Oct 18, 2011 8:38am
Quoting Jhig
It all depends on your conscience. I personally do not see you (me, or anyone for that matter) as a "bad person" for profiting off someones tragic situation.

People praise doctors and lawyers, yet those are both considered noble professions that would not be in business unless someone gets hurt in someway or another.
Yes you are right I too totally agree with you. It all depends on how honestly you do your business. If you are doing smartly without deceiving other you are not at all bad person.
  • #60
  • Oct 18, 2011 9:12am Oct 18, 2011 9:12am
I think we cannot equal earning money be means other than honest work with being a bad persons.
There a lots of professions, by which people make ridiculous amounts of money. Should we say therefore that all these people are bad?
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