This thread is probably a very accurate indicator. Anyone who has either said they have done something like this or advocates doing it or does not understand what's wrong with it is not a trader. Pure and Simple.
Very successful traders, what they're trading is your future well being for theirs. http://www.bloomberg.com/apps/news?pid=20601087&sid=aFralhXgxzDs&refer=home http://www.bloomberg.com/apps/news?pid=20601087&sid=ajrmM3vIahsg&refer=home
I believe you missed the point. You can also turn it around. If you are a credit card company and you act like a crook, don't be surprised when your customers default. It goes with the territory.
I expected a response like this but you completely missed the point also. The fact isn't that you are late by 1 day. The point is that the credit card companies TRY to make you late by 1 day so they can triple your rate. They deliberately make your due date on a day like the 31st or the last business day of the month so you might be 1 day late. So, basically they aren't concerned at all about your risk to pay but rather they want to steal your money. I have also paid my mortgages past the 1st of the month many, many times and that isn't a problem because you aren't late until the 16th of the month! Get it? Your mortgage company doesn't want you to be late. Your credit card company does.
i despise banking institutions more than anyone here...i can assure you of that.........but wether you borrow from a Nicky Scarfo or BoA.........you make them the shot callers when you "take" their money. that`s the name of the sleazy game!
i would still be more afraid of the scarfo then the boa trust me the physical pain would outway the mental. also there are many more outs for defaulting on unsecured debt the secured debt. if you buy something on credit from a dept store such as a big plasma tv and you default the original creditor cant come back and seize your tv. now if you put that tv up for collateral on a secured loan they can seize it for non payment. also take the flip side i put money down on a house 3 years ago with a nj homebuilder kara homes. they went bk and guess what happened to all the unsecured creditors such as i , beat like a rented mule. i had no rights as an unsecured creditor the secured ones were taking care of first. myself and many other families suffer. so if any of you on this board feel pitty for the banks whenever they get beat you are just all sheep. one day it will happen to you and you will change your tune about the fairness of the whole thing. unsecured creditors should be treated the same whether they are a bank or a regualar person. that is the real distinction and until that changes you let me know if you still feel sorry for a bank when the get clipped scarfo.
Yup, even though you were being sarcastic. If you had a fully functioning brain you'd realize that sustained successful trading requires a very strong sense of personal responsibility (which you clearly lack) because one can't objectively assess losses and failures to correct them with a flawed mentality that reflexively blames others and circumstances for one's own shortcomings.
LOOOOL Ive read this entire thread and it is extremely amusing! 1stly i think we all need to saw a nice big ''Awwwwwww poor baby'' to trader666.. Since he has been totally and utterly fuked up and screwed over by almost so many millions of people all around the world, including most of the people in the thread, that its just impossible for us all not to pity him! LOL Hes like of those really old dimwitted men who fought in wars decades ago thinking it would make him some kind of hero for the modern day world, but the he sadly had to find ou that the world is a cruel harsh place where no1 actually gives a toss about him or any other do-gooders anymore. They are simply the door-mats we use to wipe the shit of our feet on. *Im not even trying to be rude to you mate, we are all just trying to help you. lol This is why people like struggle to make anymore through trading though, cos they just dont have the right mindset to constantly change and adapt on an hourly basis. The thing you have to understand mate is that ''You dont make money by knowing how to following the high moral citzen route''! lol You make money by looking at how the system is, whether its the daily movement of the stockmarket or the finanical benefits system, and instead of getting all huffy just because you disagree with how it is, you have to just accept every system in the world for how it is, look closely at how it works, and then work out a legal way to profit from it! You can, and have been the old biffer who sat on his high-horse brooding and getting all huffy while everyone else ignored you, and instead legally took advantage of how the system is to make profit for themself, but that is why you have just endedup being everyone elses doormat, punchbag, spitbowl...., whatever synonym we use. So i would strongly advise you to sharpen up mate, and start living in the real world and accepting it for how it is, and then you wont get screwed over and used so much. Theres the old saying mate that you should leanr to live by; ''The only fair in business is the buse-fare home''!