Do ethics factor into your trading plan? A recent poll brings a surprising result…
I was surprised to hear that just 27% of traders that contributed even think about betting ethics in relation to their trading activities.
For the other 73%, I think that’s a bit of a mistake. Here’s why!
Why Do You Ask?
Last week I was sat mulling through the afternoon as usual, exchanging the odd message with another long-time trader when the topic of conversation changed to betting activity and ethics…
Having been around longer than I, the other party suggested that many complain about racing’s integrity – but don’t even consider it when trading.
As course users will already know – it’s something I pay plenty of attention to, but I wanted to put it to the masses. Hence the poll.
Lots, None & A Little
To me, the first category doesn’t need to be explained much. Betting ethics are a market contributor, a variable to be considered – and so it makes common sense to some kind of opinion bouncing around in your bag of tricks. It could even be profitable to build short-term strategies around them.
Secondly – not at all. A harder answer to gauge, because there could be legitimate reasoning for disqualifying this line of thinking from your trading plan. Considering there is a mildly different option within the fourth answer, it’s probably best not to jump to conclusions. To have chosen this answer doesn’t necessarily mean an unawareness of betting ethics on the overall trading markets…
If you voted ‘Not at all’ then feel free to let us know why in the comments below. I should add; trading successfully doesn’t mean you have to include this variable. Just that it’d be wise (in my opinion).
Thirdly – a little. Similarly, this choice shows a sense of awareness of the situation, no qualms about that.
Why Would it?
This answer (and the fact that 33% of you went for it) is my main reason for writing this post.
Think about it: horse racing, it’s not the most ethical sport is it?
Possibly not the worst, I think greyhounds betting may just edge ahead there – but horse racing is about betting, there are no two ways about it.
I can sense those who love the sport getting upset as I type, but it’s just reality. No betting would mean no horse racing, it’s what keeps the wheels spinning on the whole industry.
So, with this being the case – think deeply.
Sad as it is, people do crazy things when it comes to money. Many of these are unethical, so why would a horse built around exchanging money be any different? More importantly, if you’re looking to trade your way to success – why not think about one of the biggest factors that could ‘warp’ a betting market’s overall picture?
Sure, it may not be every race one after another but on the occasion, there’s a lot of lost potential for those with their eyes shut! Worse still, a painful experience of you being on the opposing side of things.
We’ve all read those stories in the media about monster gambles and well-coordinated punts going down, so why not attempt to profit off the back of them? It’s just logical, surely.
Next Read: My Addiction Shared Publicly…