Allthough most day traders lose, it seems to me all day traders are a drain on resources and not improving productivity compared with a potential world in which trades were limited to longer time periods. why not make stronger laws limiting day trading or tax them more… out of existence?
I realize i am being a bit judgemental, but compared to a distributor of materrials or someone investing in a company because they think the company will do well they seem to be more just noise makers
their own resource of time, cumulatively is considerable, their brokerage fee subsidy enables excess trading even if it reduces my costs
yes, there already are significant legal impediments to day trading for reasons law makers (and I) deem reasonable, drug laws. I have not seen any comments that convince me that day traders are productive
http://www.sec.gov/investor/pubs/daytips.htm
I realize i am being a bit judgemental, but compared to a distributor of materrials or someone investing in a company because they think the company will do well they seem to be more just noise makers
their own resource of time, cumulatively is considerable, their brokerage fee subsidy enables excess trading even if it reduces my costs
yes, there already are significant legal impediments to day trading for reasons law makers (and I) deem reasonable, drug laws. I have not seen any comments that convince me that day traders are productive
http://www.sec.gov/investor/pubs/daytips.htm
What resources do they drain, other than their own?
The damage they do is to their own accounts, plus they add a small amount of noise to the market pricing structure, but they don't do any significant harm that I can think of.
Just because I think long term is years, and daytraders think long term is overnight, doesn't mean they don't have a right to trade that way. Their brokerage fees subsidize mine, for one thing, and lemming-like momentum moves by daytraders sometimes provide opportunities for long-term value investors to step in.
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