Registered: Aug 2007
03-08-12 01:13 PM
Quote from emg:
Another thing, the point of me showing proofs why small traders lose is to make them understand what is trading all about. Most of these newbies are duped by 3rd party educational vendors/signal providers making them believing u can make a living trading with as little as $3000.
Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $350 million. From 2001 to 2007, about 26,000 people lost $460 million in forex frauds
That is not trading.
IF u want to become a trader, Higher Education is the path.
The problem of almost all that buy methods, they never had the disipline to trade whatever they made and spring for a method, and still lack disipline. Plus, we live in a world of flex, new traders don't have the ability to alter methods or identify changes have to be made. Like when markets goes into chop, targets must be lowered. new traders are much more greedy than experienced, they change targets trying to get much more, when they could have gotten 10.00 points on five trades in ES, they end up with nothing cause they were trying to make homeruns, where the experienced go home profitable.
And $3000 is very doable, but you have to sim trade, and if you can't make profits 13 of 15 days, real time you will crumble and become bait.
Education has much to do with investing in stocks, reading financials, but trading, good if you learn programming and have intense desires to excel with games. Trading is a game, thats it, play to win, don't get married to your trade.
Yes, there is fraud from many venders, as they lie to sell their products and they should be fined, but there are so many greedy people who won't devote the time to overcome the intense work needed to become profitable. They rather come to this site and post thousands of reasons they can't make it.