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Originally Posted by Peterw  Why do so many poeple have it in for traders?  Jeez..
Not just here, people get quite upset about the idea of traders making good money from short term transactions. What's the difference between a forex trader, a used car trader, a real estate trader or even a recruitment agent?
They're all buying and selling stuff that they didn't make/build/develop
Even affiliate marketers - why does Google hate them so much? |
This is a good question.
I once considered the day trading thing, and in fact, did it for a brief time. But, even though I got lucky on one particular transaction (I nearly tripled the investment), I really didn't know what I was doing, and since it was more on the side, I didn't really have the time to learn.
Not that being hated for being a day trader would have mattered to me back then, but I consider it now, simply because there's nothing being produced. Like any other kind of salesman, they just seem like people who are not to be trusted, who are trying to gain, but only at someone else's loss.
I wouldn't do it now, not because of all that, but because after studying history, I'm better able to relate the big day-trading surge to the pre-depression, 1920's, when virtually everyone was getting into the stock market, thinking that it couldn't do anything but go up. Thus, and because of other things (like fiat money), I think it's all gonna come crashing down, eventually, and only the ones with all the beans are gonna be spared.