Steve,
Not intending to get anyone in a lather, but ...
How about a little comment on the "useful purpose" of the day trader?
I have enjoyed position trading with 2 to 8 week typical hold times for several years and am recently doing intraday trades. I find it very profitable, but ...
Philosophically, what is the redeaming social value of a trader? Other than adding some liquidity to the markets (some would argue amplifying volitity is the primary impact), at the end of the day, a trader has added nothing to the productivity of the community and some view it as parasitic.
Most people crave the feeling of accomplishment that only comes from creating something.
While "creating" personal wealth via trading creates instant gratification, the gratification that results from executing a business plan successfully, allowing you to expand your business and create a few new jobs, is somehow deeper and more fullfilling.
Remember, while trading seeks to take advantage of short term movements in the equities markets, we are buying and selling equities that represent money placed in trust with an organization staffed with workers that are supposed to create further value with it.
Since I am unable (lack the skills) to gain satisfaction in artistic pursuits, I personally, need to keep the day job to provide that feeling of contribution, if not a stable financial base to support the trading addiction!
No offence to those who trade full time.
Ira |
