I found this article a couple of years ago. My apologies for not mentioning the author because I did not get his or her name…
Trading Forex or futures is a business. To my mind, it is the best business in the world – for a great many reasons! It has a very high profit potential against a very low overhead. Risk can be tremendously reduced by taking only high probability trades and using stops. In fact, Forex/futures trading is a relatively low-risk business when approached with the right attitude and the right planning. (Trading psychology and a Trading Plan).
Trading is eclectic. I can pick and choose which market to be in, I can choose when to be in it, and generally under what circumstances my entry will be. If Crude Oil is making money, I can make money in it too. If I want to trade the GBPUSD because it is moving, I can do. Any trending market is making money for someone, so I can have a piece of the action too. I can be a bull or a bear as the mood suits me. I can be a happy bull or bear if I’m going with the trend.
I earn my living in what is almost a “free” marketplace. I can live by my wits, and reap the fruit of my labor. I have no customer problems: no customer relations, no customer complaints. No customer theft, no customers returning anything. There are no employee problems other than myself. No unions to contend with, no negotiations, no strikes. No employee benefit plans other than what I give to myself. No employees stealing from me. No collective bargaining, and no stockholders.
There are no merchandising costs, no damaged goods, no vandalism, no service calls, no repairs to make and no guarantees to honor. I don’t have to advertise, and I have no marketing headaches. There is almost always a buyer if I want to sell, and almost always a seller if I want to buy. No purchasing and procurement problems, and no salesmen making mistakes.
There are no manufacturing problems, no production schedules to meet, no shipping, no receiving, and no product liability. I don’t have storage problems either. No warehouse, no spoilage, no items to discontinue or mark down. No bills of lading, no freight or freight damage, no trucks to load or to unload. I’m free of invoicing, accounts payable, payroll, inventories, accounts receivable, billing, dunning, bad checks, and bad debts.
There are no salesmen who call on me, although occasionally a broker salesman will call on the telephone offering brokerage services. As soon as I tell them that I am a professional trader doing quite nicely in the market with my current broker they quickly excuse themselves and hang up. This only reinforces my perception of them as wolves waiting to tear apart some poor unsuspecting suck…whoops…prospect.
I have no competition. What? How can that be? Yet it’s true. I have only to deal with someone who is of a different opinion than I am. We settle our difference of opinion with money. If I’m right, then he pays up, if I’m wrong, I pay up. We resolve our difference of opinion in polite and courteous fashion, by putting our money on the line according to the rules. We don’t know each other. The exchange or broker acts as the neutral party.
The person on the other side of my trade can’t cut prices as a competitor can. He can’t offer better service, he can’t scoop me in the marketplace with a new innovation on an existing product or get one-up on me with an entirely new product. He can’t steal my customer lists, because I don’t have any. He can’t lure away my best salesman either. He can’t even plant a spy to discover my trade secrets, because I don’t have any to hide, and because he doesn’t know who I am. He can’t seduce my top research scientist, and I can never be the victim of a hostile take-over. I never worry about corporate spies.
Now I ask myself, “Self, where else can you find a business like this?” The answer is an overwhelming “nowhere”! It’s the most perfect business in the world!