Make Your Trading Truly Worthwhile
Back when the FPA was new, there was one unique bit of Felixís philosophy that really struck me. What caught my attention was that he talked about always donating 10% of his trading profits to a worthy cause. He said that when he did this, new opportunities opened up, and when he didnít do this, good opportunities were few and far between. This helped to resolve a deep ethical dilemma I have had with the whole concept of forex trading.
Let me explain that. As I understand him, Felix donates 10% for karmic reasons. Others might donate 10% for religious reasons. My view is something of a mix of these two. Think about the whole concept of forex trading for a moment and try to answer these questions:
1. What do we, as forex traders, accomplish?
2. Do we build things?
3. Do we contribute anything to the world economy (other than keeping forex brokers and other forex produce sellers employed)?
4. If the world banks locked all exchange rates tomorrow, would anyone (besides the brokers and product sellers) even miss us?
5. Is the world a better place directly because of our forex trading?
Sadly, the answers, in order, are: not much, no, no, no, and no.
The last question contains the key. The world isnít made into a better place DIRECTLY because of our trading, but if we contribute in other ways, then our trading can still serve a truly worthy purpose and help to make our world a better place.
I have my religious beliefs. Other people believe differently. Some do not believe at all. I have my philosophical beliefs, and know that yours are probably different. If you are such a cold, uncaring person that you want to make money ONLY for your own personal gratification and wouldnít spend one cent to make this world a better place, then I probably donít want to get to know you. Sure, Iíd LOVE to get rich trading forex (I'm still working on that), and I hope that others can too, but I want my (impending) wealth to mean something. Leaving money to worthy causes in your will is nice, but it would be even better to also see some of the money being put to good use NOW. There are a couple of good reasons for this. First, if the organization you donate to wastes the money, you can give money to some other group else the next time you find yourself in profit (itís a little hard to change your will after youíre dead). Secondly, it makes your forex trading about much more than just benefiting yourself (and maybe your immediate family). The scale of the cause doesnít matter, but your efforts do. You can donate to the local church down the street or to a charity that benefits the world. You can donate for curing cancer or for cleaning up the environment. Find one or more causes that matter to you and them.
Obviously, if your mother suddenly needs brain surgery or there is some other terrible family emergency, you can consider that to be part your donation. You should never have to decide between donating to charity vs. feeding your children (or yourself). Then again, if you are living so close to the edge that ten percent of your profits or even one bad trade could mean skipping meals, you really should find some other way to make your base income more reliable and save up for forex trading later.
Preaching isnít my calling. Iím not going to tell you what to believe in. There are plenty of people out there who will be happy to share their religion or philosophy with you. You can believe in God, you can believe in karma, you can believe in fate, you can believe in the Will of the Macrocosm. All I ask is that you believe in something, anything that will make you want to improve the world. Next, donít just believe, but act on your beliefs. Put some of your money (and maybe a little bit of your time) into your chosen cause(s).
You donít have to stay with one cause exclusively. Itís a donation, not a marriage. Iíve donated to Chinese earthquake relief. Iíve donated to a local homeless shelter. Iíve donated to environmental groups. Recently, I was stunned to find out that a small donation I made to a group that helps pay for educating poor children in China was more than enough to send 3 children to school for an entire year. I think I'll try to find out how much it would cost to build a small school in one of the places they next year. Iím also planning a donation to a local shelter for stray cats. (I've adopted 3 wonderful cats from that shelter in the last few years.) Just make sure you always have at least one cause to .
There are plenty of worthy causes out there. Make sure to do some research so that you donít accidentally end up donating to a scam site posing as a worthy cause. Check closely, since there are a lot of scam sites with very similar names to well-known causes. Itís pretty easy to run a quick google search find the correct website for well-known causes and to make sure they arenít tied up in some sort of scandal.
The FPA tries to help save the world from forex scams. See if you can help save the world from other problems. Unless your chosen cause is developing cheaper spaceflight, it's the only world we'll have ready access to for a long time to come, so let's take care of it.
If anyone wants to list links to any established causes that they in this thread, I'd love to see them.
Results 1 to 10 of 76
05-07-2009, 11:45 AM #1
Make Your Trading Truly Worthwhile
05-07-2009, 12:14 PM #2
05-07-2009, 12:20 PM #3
I don't see a truly inherent conflict. If one desires to do well so that one can share with others, this is not a bad thing at all. It's only if one desires to do well purely for selfish reasons that it becomes bad.
If you try to benefit the world, this will give you a more positive outlook on life and you may very well be more likely to see opportunities that you might have missed otherwise. Maybe new opportunities really happen, but maybe this just enhances one's ability to see opportunities that were already there. It's not an easy thing to put to a scientific test.
Plus, I doubt anyone makes donations of any sort with an expectation that it will cause them to live a life of failure and misery.
Last edited by Pharaoh; 05-07-2009 at 12:24 PM.
05-07-2009, 12:26 PM #4
Giving and Receiving...both important!
Thanks,I love your article!
Below is a link to the cause i ...its helps promote "peace dignity and prosperity" for all and,just as importantly,for those who are interested,can help show an individual how to go within to find self-knowledge and true peace and contentment.
The Prem Rawat Foundation
05-07-2009, 12:28 PM #5
Trading for Life
I actually heard a little more about theory that Felix has. He did also some calculations which he came up with on his own and do know that it helps him to find a meaning in Forex and wealth building. I think by donating money to charities helps you to balance out your mental state and control greed and many other factors which we gain unconsciously as we make more and more money in Forex. The key is to give that money without any regret or something else in mind which would make you feel uncomfortable.
Overall I think that formula works when you give something you get more in return, but as long as you not expecting and not asking for it.
05-07-2009, 12:34 PM #6
05-07-2009, 12:36 PM #7
The Benefit Of Traders
I disagree with your position that traders contribute nothing directly to the economy. They directly serve to moderate the fluctuation of prices in the market. If we weren't stepping in to trade the peaks and valleys of price movements when they move to extremes prices would continue to move even further in those directions. Some buyers would be paying too much or too little and the corresponding sellers would also be receiving bad prices. It may not be possible to prove this truth as a practical matter but if you think about what happens in any economy you can recognize that it is true. We take a risk to provide this service. It has value. Obviously great value based on the profits that can be made (or lost).
05-07-2009, 12:37 PM #8
I will, someday
Believe me as soon as I can make some decent money at trading forex, I would love the opportunity to find somewhere to donate money and be like one of those rich philantropists. Alas I have yet to make some money, perhaps God/Buddha/The Great Spirit doesn't trust that I will donate. Actually I did make alot of money trading before, and I only donated a small amount of it for kids in Africa, but less than 0.5% of my earnings....oh well in the end I donated it all back to the market, perhaps the traders on the other side of my loosing trade donated it. Dam Forex, not only does it take discipline, education, software, and especially a good broker that wants to donate money to you but giving you a slow price feed, but also you have to be the most morally upstanding, politically correct member of the planet to justify taking the money of others thru trading.
05-07-2009, 12:42 PM #9
Well there are different values and ways to understand that "Giving something and not expecting in return". Think of having your kids and giving them money for education, food or any other needs. Are you expecting them to pay you back as they start making money ? I think if you do that would be selfish. They way you described that quote is more of a scientific way but it cannot apply to morals and values that people have towards things, although we are all different and some of us have scientific formulas for just about everything on this plannet and outside of it.
05-07-2009, 12:43 PM #10
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