Has anyone thought about quitting their job and day trade stocks instead?

[Miramonti]

Originally posted by: LordMorpheus
No. I will tell you why. Stock traders produce nothing for society. Nothing of value. At best, they can help companies that are on the upswing (by buying their stock, thus giving the company more $$ to work with) and at worst, the can turn a slight dip of a compnay into an all out failure. I would rather live a meaningful existance.

trading is what someone does during certain hours of the day, not who they are and nor what their contribution to society is.

and if you think banishing open markets is good for society, thats your opinion. If you think trading has nothing to do with the economy or capitalism and that these can survive and grow in a healthy manor without trading, thats your opinion too.

In addition I know many traders who have significantly invested in society beyond their trading endeavors and establishments, not just by adding their money to the economy and/or paying taxes and not just by hiring many people, but by following some very altruist passions thru many unselfish actions.

The people I respect the most in society are people who invest in the youth and people in need, for example teachers or social workers etc. Those same people tho are not highly respective by a capitalism based structure and they are underpaid and underappreciated based on the value they add to society.

Therefore if you want to debate the merits of capitalism on overall society, that might be a good discussion but probably has nothing to do with your seemingly ignorant comments regarding trading and traders.

 

[SammyBoy]

Originally posted by: JEDI
buy low, sell high

or if shorting (wouldnt recommend it in the current bull environment), buy high+ sell low

SO THAT'S HOW IT WORKS!?!?!?!? NO WONDER I LOST 1000 BUCKS TRYING TO DAYTRADE LAST YEAR! WHERE WERE YOU LAST YEAR? BUY LOW AND SELL HIGH? IT'S GENIOUS, PURE GENIOUS!


anyhow, it's a blast, I'll give you that much. 52k isnt a bad job these days though, and if your position is secure i wouldnt compromise it. I was doing some very small scale day trading last year, started iwth only a grand. I made 400 bucks in a few days, then I bought some motient, coulda sold for a little gain, instead i held onto it for like a month when my "sources" said it was still gonna take off, then they file for bankruptcy. I think i still have some warrants too, they expire in 6 months or something.

 

[Miramonti]

 

[Hector13]

Originally posted by: LordMorpheus
No. I will tell you why.

Stock traders produce nothing for society. Nothing of value. At best, they can help companies that are on the upswing (by buying their stock, thus giving the company more $$ to work with) and at worst, the can turn a slight dip of a compnay into an all out failure.

I would rather live a meaningful existance.

woah... you really don't understand the basic workings of our capital markets at all, do you?
You do realize that when most traders buy or sell stock, none of that money goes to or comes from the company, right (except for IPOs, but most day traders will never be buying those)??