Registered: Mar 2011
05-19-11 08:16 PM
Quote from Spearhead:
Trading is a closed system, but retail daytrading is not. You're competing against traders at banks, hedge funds, market makers. Basically I think the odds are incredibly weighted against individual traders, especially given the enormous profits that the bank traders extract every day.
I do think it's hard for "normal" people to recognize just how stacked the odds are, so it's hard to fault people for trying their luck at it. Daytrading also has a low barrier to entry so you get a lot of people with the get-rich-quick mentality, and a lot of snake-oil salesmen who sell them the dreams. Realize that this board in particular is sponsored by a lot of these snake-oil salesmen, so keep that in mind if you're actually forming opinions based on what you read here.
And what do you for a living?