Apr

18

 #1 Trading creates no greater good
- like when you buy grain futures, the price skyrockets, and you make a killing! A poor farmer plants more seeds as a consequence, third world children get affordable bread, hmm, did I say you make a living?

#2 Trading makes you selfish
- and that's why filthy rich old speculators turn to philanthropy.

#3 Staring at screens all day is not healthy
- which is true, and why slow lunch hours are perfect for physical exercise.

#4 Staring at screens all day is not good for your social skills
- which is why traders are out having fun when the market is closed. (Don't "normal" people spend evenings in front of the TV?)

#5 The market is a casino
- where scrupulous gamblers make it easier (and more important) for sane traders to make a living.

#6 Changing cycles make it hard to make consistent money
- and that's why I take months off traveling the world.

#7 Watching the market is sometimes like watching paint dry
- which is true, and why you should use slow hours to study arts and sciences (while some make #5 come true).

#8 Most traders lose money
- which makes it even more rewarding for successful ones.

#9 You won't make it without talent
- just like a talent is needed to become a piano, chess, or basketball professional. A zillion different market niches should make it possible to succeed for a variety of personality types though.

#10 Traders do not deserve all that money
- if spent on booze and babes. Do good and create exponentially more "greater good"! (ref #1)

Jim Sogi counters:

Good Reasons to Trade

1. Trading provide capital and liquidity for production of good.

2. Trading is an honorable profession.
3. Trading give time to exercise, ski, surf when markets close and you always get weekends off.
4. The gains have favorable tax treatment.
5. The competitive environment is tremendously rewarding.
6. The analysis is deep, wide ranging, complex and also very rewarding. It covers history, math, statistics, current events, politics, economics. No other field is as broad or deep for study.
7. Trading has economies of scale built in to the structure.
8. Immediate and easy credit is available.
9. The Spec List.
10. You can trade from home, be it Hawaii, Alaska, CA, NY, Bahamas, Singapore.
11. There are world wide markets, and many niches to fit many styles and temperments.


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1 Comment so far

  1. steve on April 18, 2011 4:09 pm

    “It’s a hard way to make an easy living.”

    Point 1. Speculators provide liquidity to markets. If there were no spec. who would the farmers sell into.

    Point 2. Markets don’t do anything to you. You are what you are.

    Point 3. It is healthier than working construction.

    Point 4. Is it better to develop “social skills” by discussing sports, politics, or American Idol?

    Point 5. The market is a vehicle. It can take you to where you are going if properly navigated, or it can kill you if misused or poorly maintained.

    Point 6. Markets are dynamic. Trading is a business not recreation. Nothing in life is straight line upward.

    Point 7. very true. Often the best play in no play at all. It should be part of an overall equation. Not the magical key that unlocks all entrances.

    Point 8. Poor traders lose money. Ill-equipped, under-qualified traders lose money. If it were easy, then there would be no value in it.

    Point 9. Talent is an overused cliche. Proper application is perhaps a better parameter.

    Point 10. Deserve has nothing to do with it. This is a very socialistic philosophy. I would rather cast my lot in with Ayn Rand rather than collectivism.

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