Trading guilt

[clkelly]

After scouring these forums for a bit and now with my first post, i had to add my two cents.

This is something that did cross my mind, "should i feel guilty of profiting off other people"

I'm about to get back into trading after 10 years away due to some heavy loses. And to put bluntly, if you're feeling guilty then maybe trading isn't for you, find something that makes you happy and content in life.
Where i stand in life at the moment, and the instrument I'm about to trade, taking profits i won't feel one ounce of guilt. I have a family and thats my motivation and drive to succeed to provide for my family.

You all have valid points, don't get me wrong, but i believe we're all here for different reasons, whether it be to purchase that exotic car or to simply provide a better life for our loved ones.

md44, maybe dig deep inside and you'll find the reason you're here wanting to trade, and things might come together for you. All the best anyway...

 

[Gringotts Bank]

After scouring these forums for a bit and now with my first post, i had to add my two cents.

This is something that did cross my mind, "should i feel guilty of profiting off other people"

I'm about to get back into trading after 10 years away due to some heavy loses. And to put bluntly, if you're feeling guilty then maybe trading isn't for you, find something that makes you happy and content in life.
Where i stand in life at the moment, and the instrument I'm about to trade, taking profits i won't feel one ounce of guilt. I have a family and thats my motivation and drive to succeed to provide for my family.

You all have valid points, don't get me wrong, but i believe we're all here for different reasons, whether it be to purchase that exotic car or to simply provide a better life for our loved ones.

md44, maybe dig deep inside and you'll find the reason you're here wanting to trade, and things might come together for you. All the best anyway...

Makes it sound like you treat your family well, but everyone else is there for your exploitation. Or have I misinterpreted you?

 

[clkelly]

Makes it sound like you treat your family well, but everyone else is there for your exploitation. Or have I misinterpreted you?

I think you have, I'm not here to take advantage of anyone...

 

[MacDizzle]

A lot of traders think they have to take money off other people like some sort of war, I know its been described like that in some books.
Its a good topic so I thought to answer this for myself to make sure I don't have extra hidden barriers to money going forward.

To me its: how do I know the stock is not going to go up further according to their longer term indicators? how do I know its not a fundamental investor? or someone who's laundering money?, some spoiled kid who just wants to own it at any price for bragging value? or someone who's in a bad situation and just wants to cash out to save his house? ..The short answer is: I don't know and that's o.k..

If my indicators say exit I exit that's all I know right or wrong. The market is very impersonal, just a evolving group of prices on a screen. just my

 

[shg]

Congratulations md44! Most people self sabotage with old beliefs and aren't aware of it. In some psychology/eastern religions/philosophies they would call this your shadow or dark side as the beliefs lurk in the unconscious until you shine a light (awareness) onto them. If you believe in reincarnation, some philosophies indicate you can bring them from past lives! You can pick them up as a baby if you misinterpret things. Say you feel your mother isn't showing you love so you think you're unloveable or unworthy but actually she has migraines/postnatal depression/ morning sickness instead. As a child there might be an event with a parent or someone where you were in trouble and decided then that you are unworthy etc. These beliefs often show up at other times in your life if you look back. I think if you are aware of them, then it is life/your heart/soul nudging you to be the real you. Everyone is allowed to change/evolve. If you are aware of unhelpful beliefs you can change them. As they are usually attached to strong emotions, logic may not work well. Sounds like you need to work on feeling worthy, successful, appreciated by yourself. No-one is perfect, try to love and accept yourself rather than worrying about what others think, or buying the car to impress people. Buy the car for you, not how it may impress others. Be who you want to be. Believe what is true to you, not something you picked up as a kid. If you can find inner security by accepting yourself, then others shouldn't matter as much. If trading feels right for you then keep at it. I like to spend my money in local businesses, thinking I am helping keep locals in jobs. Everyone has beliefs that don't help and there will be more than one. I believe I should work hard so living off passive income at the moment is uncomfortable. Good Luck. Keep it up and hopefully you can leave them behind.

 

[Gringotts Bank]

Something occurred to me this morning - how being a trader contributes to society. I've said in the past that I don't feel like any of us is obliged to help society function - which I stand by - but good traders do contribute anyway. imo, this applies more so to those who trade with some discretionary component.

Like so:

- The market is an extremely harsh teacher. You either fall in line or you suffer. You are forced to learn fast.
- The market requires that you learn certain things about yourself and about life. You have to let go of all your crap.
- Tactics for gain which work in other jobs will not work here. You cannot work the market. If you try, it works you, and it's merciless.
- The things that you're required to learn make you a more whole person, and therein the contribution to society.

-- Patience. You have to receive what the market is willing to give up. You can't just take what you want. On certain days, the market will offer nothing, and you have to be ok with that.
-- A relaxed body and smooth, regulated breathing.
-- A mind free of fear and greed.
-- A very focussed concentration, leading to absorption and a 'zone' state.
-- A mind which is happy not to predict the future or dredge up the past to obscure the present.

Anyone who has traded for a decade or so knows you can have moments when everything is perfectly clear and profits roll in. I've had maybe 5 such times in my trading career, so I know it's possible. The training makes you into a person who is an asset to society. So it's an extremely hard process, but so long as that's understood, it can make a great PT or FT career choice.

 

[polpak]

Gringotts Bank's #46 is spot on ;-)



Find many moments when everything not so clear, to surrender or not surrender, needs more studying.

Reasonable number of times when quit to early on rising prices so reduced the rewards, still these provided reasonable returns.

Almost as many times when did NOT quit early enough on falling prices, so increased my losses.


Challenge is to question my own mind, am I surrendering to impulse, or is this decision really based on reason ?

As long as trades balance out onto the plus side, or reduces the write off of past losses be recovered, so am happy.


Not so easy trading well, while distracted by other dramas, for impulse mostly ensures losses come easier ;-(


.

 

[Wysiwyg]

Find many moments when everything not so clear, to surrender or not surrender, needs more studying.

Reasonable number of times when quit to early on rising prices so reduced the rewards, still these provided reasonable returns.

Almost as many times when did NOT quit early enough on falling prices, so increased my losses.

That is chasing one's tail trading. It is only after the exit that the future becomes evident and when the should have/could have traders pop up. Close the trade and move on to the next minus the possibly depressing or annoying should have/could have thoughts.

 

[Lemoonjuice]

Hi all,

I'm not sure if this is the right forum for this post so I apologise if it should be elsewhere.

I've been learning to trade Forex since September 2012 (I started live trading in October 2014). Ever since I have been trading live I have been overwhelmed by intense feelings of guilt. After spending quite some time trying to determine why I am feeling this way, I believe it is due to the uniqueness of this business model - specifically, the fact that I'm earning money without creating value, and the principle that if I win a trade the other market participant will lose (although of course it isn't always as simple as this).

Has anyone else ever felt this way? I'm hoping you can provide me with some tips/advice on how to manage these feelings/thoughts.

Thanks very much everyone.

Hey,

I have been winning now for 4+ years.
People have questioned me on this topic of "taking peoples money"

A few things, People put this money in the market themselves, they are depositing it into a gambling machine.

I do not look at my wins as coming from a person, I look at it as i just stole money from a Banker and as we all hate banks it make life very easy.

 

[Value Collector]

I do not look at my wins as coming from a person, I look at it as i just stole money from a Banker and as we all hate banks it make life very easy.

I don't think you should look at it as if you are stealing.

The companies on the stock market are generating millions of dollars of value every day, when you make a profit trading you are just really capturing some of this value.

 

[luutzu]

I don't think you should look at it as if you are stealing.

The companies on the stock market are generating millions of dollars of value every day, when you make a profit trading you are just really capturing some of this value.

I always thought I capture both the company's value and the other guy's lunch.

But reasoned that I do get it wrong here and there, so he could be the one taking my lunch. That and he probably have better opportunity elsewhere with my cash.

That and I was attracted to stocks because I misread Buffett's "double barrel approach" to mean profiting from people's [the market's] mistake as well as benefiting from the company's future.