Altruistic traders - why?

[thetradingdoctor]

This is an interesting discussion as it brings up the issue of how traders are classified. There is a taxonomy of traders, much like the taxonomies in the animal kingdom. In this regard, I would like to how from each of you: what is your definition of a speculator?

Thanks

Janice

[Nick1984]

I initially joined this forum with a limited knowledge of trading derived from jumping into the stock markets. I only just started trading futures and its a different experience and I'm only keeping my head afloat at the moment while I iron out kinks in my strategy. I believe that the majority of people which join the forum and don't contribute by way of posting just use the posts here as an educational tool.

I don't have any problem with someone else wanting to learn, and by teaching someone else I believe that you not only have to be objective about your own learning but that you will learn more as well at the same time.

While there is always going to be a disparity in the levels of experience that traders here have, the one thing that binds the forum together is that everyone no matter how well they are doing wants to keep on learning.

I asked myself often: Why would James put up his videos showing his entry and exit techniques; why would he offer this forum as a learning tool to so many people?

The answer that I came up with was that, James is putting his own cards down on the table so to speak and he is holding himself accountable to thousands of people he's never even met who can critisise him for his techniques, so therefore he is receiving back not just giving.

I might not have been as technical in all of my posts as some of the other experienced traders here, but when I have posted something serious, I try to be as helpfull as possible.

As to the doc's question: I think a speculator is simply someone who takes a position in a market with no underlying interst beforehand based upon a set of supposed facts which they believe will arrive at a pre-determied outcome which they aim to profit off.

[cooter]

	Quote:	thetradingdoctor
	In this regard, I would like to how from each of you: what is your definition of a speculator?

One who speculates!

Actually, it's one who gambles or takes risk. You wouldn't be speculating if there was no downside risk involved for your future positive return on investment (ROI).

All traders are speculator, by definition, whether they choose to acknowledge the definition or otherwise.

Just my two ticks worth....

[GCB]

	Quote:	thetradingdoctor
	This is an interesting discussion as it brings up the issue of how traders are classified. There is a taxonomy of traders, much like the taxonomies in the animal kingdom. In this regard, I would like to how from each of you: what is your definition of a speculator? Thanks Janice

I have a pretty broad definition. A speculator is anyone who buys (sells) anything with the sole intention of selling (buying) it later at a profit. A speculator assumes risk to obtain the possibility of profit.


BTW, Another reason traders offer information is as a motivation to organize and be thorough about their own study. John Carter and my personal mentor both put out newsletters and both have said doing it is one way to force themselves to do their homework.

[walterw]

	Quote:	thetradingdoctor
	This is an interesting discussion as it brings up the issue of how traders are classified. There is a taxonomy of traders, much like the taxonomies in the animal kingdom. In this regard, I would like to how from each of you: what is your definition of a speculator? Thanks Janice

A speculator is a Human bean... all humans speculate... be it on trading or any other human enterprise... Risk is embeded on human existance and speculation is dealing with it...

[notouch]

The CFTC makes a very specific distinction between speculators and non-speculators (commercials). Going by that a speculator is just an entity (not necessarily a human being) without any commercial interest in the underlying instrument. The speculator's only interest is in making a profit from a favourable price movement. A hedger is the exact opposite and hopes to lock in profit regardless of the price movement. I think most people speculate at some stage in life, for example by buying a house in the hope that prices will increase. The difference is that traders speculate for a living.

[walterw]

Apart of trading I am on the construction bussiness... we build houses and sell them... its especulative and risky as trading... I think the best thing is to be diversified... cheers Walter.

[momentom]

Its a matter of concience, I believe.

Anyone who is profitable has had help along the way. Helping others is just giving something back. I don't think that the giver gets anything out of it except perhaps a good feeling. At least this is why I try and help.

[dalby]

i have been helped out by others, so i like to reciprocate. i also appreciate DIALOGUE.

certainly, i am not going to reveal individual setups. i worked too hard to develop them and would only release same to a client. i respect that many others do the same, feel the same.

that is not to say that i have not been greatly helped by free advice etc. which often is worth MUCH more than you pay for it

the signal/noise ratio is higher here than any other forum i have found on the internet, ESPECIALLY for index futures stuff.

[BlowFish]

I guess I am a terrible cynic but I think the reason anyone does anything is essentially selfish. There is nothing wrong with being selfish imo. Put another way people do things for others because it makes them feel good. Or as has been said they hope to learn something through the exchange (self interest). Or they just want to 'show off' (look at me aren't I clever). I think even when we do things for our children or loved ones it is because when they feel good we feel good (so a selfish action even if for another). Even when we do things out of a sense of responsibility or guilt it is to assuage feelings within ourselves.

btw Isn't a speculator simply someone that assumes risk for a potential reward. Not quite sure how that fits in (yet).

Personally I always wanted to be hugely succesful at trading (10's or even 100's of millions). Apart from satisfying my Ego I'd really like to make a big difference in the world (money affords that opportunity). The reason? to make me feel good. (Who wouldn't feel good about improving society?) Personally I see no conflict between altruism and selfishness.