Can successful Traders have a conscience?

[Coloradolover737]

Only in the right context. Virtually all business endeavors are based on the notion of providing value, and the profits are the exchange for that value delivered.

Gambling and trading do not create or provide value to the one putting in the money. It's a win-lose situation and winner's profits have to come from somebody's pocket. Even the Casinos express their profits in gambler's losses and trading is very analogous.

If you're okay with the competitive nature and the fact that it is clear to the prospective loser that he is risking his money on a wager, then no guilt is due.

However, if one of your core beliefs is that you wish to make the world a better place by provide value to others, then trading may present a subconscious challenge, as your subconscious knows the win-lose scenario exists here.

[feb2865]

Colorado

I think you just hit the nail in the head. I cound't agree more with your coments.

It's unbelievable but there's still some traders/investors outhere who believes that shorting a stock is totally un-american. Sometimes I watch comedy central, you know in order to entretain my self, and this guy....whats his name/ oh ok..Jim Kramer always is buy, bullish, etc. It's unelievable how many people calls that program for advice...oh boy..This is just my opinion please apologize if I offended anyone.

Regards

Raul

[feb2865]

I am so sorry

It's not comedy central...it's CNBC.

for some reason I don't understand, I mix CNBC, Comedy Central and Cartoon Network. Maybe there's some sort of subliminal message implanted in my brain, well I don't know. They're not similar rigth??

My apologies

Regards

Raul

[Kiwi]

One can inject ones views, beliefs and concerns into trading as much or as little as one wants. eg, only long on your countries stocks, only short on opposing countries stocks and futures, no purchases of suspect stocks etc etc.

No problem; only two issues. 1. Don't actively trade the beliefs just use them as a filter to remove trading opportunities. 2. Recognize that the beliefs limit some opportunities which may occasionally cause frustration followed by the satisfaction that you're sticking to your beliefs (but the opportunities are nearly infinite anyway).

[protrader]

just give me the charts, sometimes I dont even no the name of the symbol I'm trading. Just scanning for a setup.

[Soultrader]

	Quote:	feb2865
	I am so sorry It's not comedy central...it's CNBC. for some reason I don't understand, I mix CNBC, Comedy Central and Cartoon Network. Maybe there's some sort of subliminal message implanted in my brain, well I don't know. They're not similar rigth?? My apologies Regards Raul

lol.... we might as well have Dave Chapelle come on CNBC.

[torero]

CNBC is Comedy Central LOL! Freudian slip it may be but many ways similarities are uncanny. These "comedians" make us laugh with their "recommedations" one after another and they are out on the line trying to forecast and predict. Worst, the hot fund managers make their money on fees, not from their stock pick wizardry. I prefer to see floor traders whose livelihood depends on their trading. Charts tell me more quickly and honestly than some talking head tooting their own horns and their picks.

I used to avidly watched their shows that result in losses before I turned it off and turned a profit. My opinions of their performance was in some ways linked to my past performance: recommendations don't work without your own homework involved.

Sorry, back to the question at hand, the rules were set for most. Some started trade without knowing the rules but this is what free enterprise is: as long as you don't break the rules, the world is yours if you can outsmart your competitor to get customers to your door. Some chose to be ignorant and trade until ruin while others go slowly and learn all the rules then trade to become profitable. Most of us chose the ignorant way (I included) but everyone is accountable for their actions to participate or not and their way in participating. So conscience shouldn't exist because the rule applies to everyone and ignorance is no excuse (as cops like to remind infractors of this). I paid my dues.