Anyone who doesnt think this is going on is naive. With millions at stake, it becomes easy to talk thru secret channels without ever getting caught. Hell, anyone can get military grade encryption with chat clients and talk directly to the guy on the other side of that firewall on a third party server, out on the internet, and the SEC will never trace them or crack their communications. Its a complete joke. Its too easy to do, and there is lots of free software out there that will enable you to do it. Hey wait sec, why go high tech like this at all? Just buy a prepurchased anonymous cell phone and talk all you want with the other guy. Drug dealers do it, surely youre smarter than a drug dealer mr hot shot broker LOL
Not an expert trader by any means, still learning. But after spending nearly half of my life, self employed in business, I can say that almost everything is rigged to some degree. The rich and powerful, can never get enough money. I just try avoid clashing with them, because, I have lost most everytime. Mr Bright, probably said it best, stay on the side of market maker. joey
Don, Are the techniques you use to stay on the same side as the specialist "legal" (no secret communications involved ?) No offense intended , just curious
dear traderdragon , even if 5% of traders made it , that's a long way from 5%( more than according to Don ) of brand new traders being profitable!!!
Absolutely, if people spent as much time learning "how to trade" rather than "how to scam" - they would probably do better, and sleep better at night. Don
OK guys..seems time for an explanation. A. I think nearly zero new traders make money initially. It takes a while. B. I think 90+% of seasoned traders make money, or else they would "cease to be traders". C. I can honestly say that more than 5% of new traders (at Bright) become seasoned traders. It seems were getting the apples and pineapples mixed up in the percentages. Just to clarify ... Don