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/biz/ - Business & Finance

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346514 No.346514 [Reply] [Original]

How do people view FX/Stock traders? Speculators essentially create no value and basically steal money from the less intelligent market participants. Are people aware of how markets functions and do they get bitchy and judgemental about earning your money in such competition?

>> No.346525

I'm considered by most people to be very above average in intelligence, and even I hadn't the slightest fucking clue how the stock market actually worked until just a couple years ago
I bet your average American thinks "stock trader" and only thinks about what they saw in movies like Wall Street or Trading Places

>> No.346547

>>346514
i think most of them don't know what it is or have some vague notion of it being a 9 to 5 job

>> No.346550

see also:
https://www.youtube.com/watch?v=6yguPLkPh0A

>> No.346647

FX traders are top middle.

>> No.346652

For every speculator gaining, another is losing. In the end the only winner is the broker.

>> No.346713

>>346514
>basically steal money from the less intelligent market participants
Can someone explain the mechanics of this please?

>> No.346728

>>346713

You would fall into the category of "the less intelligent market participants".

>> No.346729

I think even successful retail stock traders are stupid because trading Forex or Futures makes much more sense tax wise. But I respect the profession. It takes a lot of discipline to make money, and practically god given talent to consistently make enough to live on. I know a couple futures traders who are my Grandpa's friends. They are retired. They have been trading for years. One was my mentor while I was trading while attending college. I was watching him trade and he made at least $2K a day, sometimes making up to $10K. And he acted like it was nothing. I trade (not for a living) and still get nervous will risking even $100.

>> No.346730

>>346728
ok bro, can you explain it or you can only shitpost?

>> No.346731

>>346514
I make more from fx trading than I do in my day job, fx is easy, fx is the way to go for everyone with a brain but a small capital, or else you can try Wall St and get eaten alive by the sharks.

>> No.346770
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346770

>>346713
Less intelligent people over- or undervalue a asset within given trading situation while the bets of good traders (on average!) reside much closer to the "real" value of an asset in that given trading situation.

The differential of the two bets tends to go straight into the pocket of the good traders.