#1 Trading creates no greater good
– like when you buy grain futures, the price skyrockets, and you make a killing! A poor farmer plants more seeds as a consequence, third world children get affordable bread, hmm, did I say you make a living?
#2 Trading makes you selfish
– and that’s why filthy rich old speculators turn to philanthropy.
#3 Staring at screens all day is not healthy
– which is true, and why slow lunch hours are perfect for physical exercise.
#4 Staring at screens all day is not good for your social skills
– which is why traders are out having fun when the market is closed. (Don’t “normal” people spend evenings in front of the TV?)
#5 The market is a casino
– where scrupulous gamblers make it easier (and more important) for sane traders to make a living.
#6 Changing cycles make it hard to make consistent money
– and that’s why I take months off traveling the world.
#7 Watching the market is sometimes like watching paint dry
– which is true, and why you should use slow hours to study arts and sciences (while some make #5 come true).
#8 Most traders lose money
– which makes it even more rewarding for successful ones.
#9 You won’t make it without talent
– just like a talent is needed to become a piano, chess, or basketball professional. A zillion different market niches should make it possible to succeed for a variety of personality types though.
#10 Traders do not deserve all that money
– if spent on booze and babes. Do good and create exponentially more “greater good”! (ref #1)