How is this statistic even possible, if every beginning investor is supposed to test his system for at least 6-12 mos, and only after consistent profits, start trading. Does this mean that paper trading doesn't work?
Correct. Paper trading doesn't work. It just doesn't replicate real life when emotions like fear and greed and bad fills come into play.
I think any disciplined person can make $100 a day or $500 a week or $2000 dollars a month. Which gives you $25,000 yearly. I don't think it's hard. You don't need lots of capital if you use proprietary firm and become a remote trader. I am remote day trader from Canada.
Yes there is. Almost all traders should run in the opposite direction of trading. They will waste years and tens of thousands for nothing. It will be no better than trying to become wealthy at the casino tables. It is the same thing many people try to tell 8th grade basketball players whose career plan is to play in the NBA. "Better keep up with your studies. You will need it!"
I think the government should subsidize traders, so that everybody wins. Otherwise, it's just not fair.
Who the hell cares what YOU want? You aren't the boss here and no ones owes a 7 post idiot any efforts to perform the research for a clueless dweeb who obviously couldn't trade his way out of a wet paper bag.. Put down your "Trading for Super Crosseyed Dummies" book you got on loan from the high school, and do your own research. The only thing that is "RETARDED" is your stupid demands and expectations. Get lost, newbie paper trader... One more manure brain for the IGNORE button. What a buffoon...!
Can't give you those facts, but I do know from personal experience that learning to trade is 1000x as hard as one could ever imagine. In a year's time I'll probably come back and say that it's ten thousand times as hard. Whether the failure rate for traders is 75%, 90% or 98.052% doesn't much matter, the point is that it's a really tough business. Of course, some obviously do succeed and whether to try is entirely up to the individual. A "failure" in my mind is somebody who decides that they want to make consistent income from trading, but eventually gives up. I would include people who make money for awhile but are eventually forced out by changing market conditions, but not traders who voluntarily "retire" after a successful career.