Comparing Odds of being Pro Trader with.....

Discussion in 'Trading' started by ARealGannTrader, May 27, 2009.

  1. Being a pro athlete...

    The odds of becoming a professional athlete are sobering. That is shown in a 1988 report by sociologists Wilbert M. Leonard II and Jonathan E. Reyman.

    The report is discussed in Andrew W. Miracle Jr. and C. Roger Rees’s 1994 book Lessons of the Locker Room. They say the report shows that for all sports, only 4 of every 100,000 white males, 2 of every 100,000 black males, and 3 of every million Hispanic males achieve professional status.

    The report further states that in football, just 16 of every million white males, 21 of every million black males, and 4 of every ten million Hispanics attain the pros. For baseball, the report sets the odds per million as 12 for whites, 3 for blacks, and 2 for Hispanics.
  2. Becoming a Millionaire......

    MONDAY, JANUARY 30, 2006

    Odds of becoming a millionaire
    If you own a small business, you're already more likely to reach millionaire status than most, according to USA Today analyst Danny Sheridan. He calculated these odds on ways to become a millionaire:
    Inheriting it: 12 million to 1
    Winning the lottery: 12 million to 1
    Playing the slots at the casino: 6 million to 1
    Winning in a game show on TV: 4 million to 1
    Saving $800 per month for 30 years: 1.2 million to 1
    Owning a dotcom that goes public: 10,000 to 1 (well, these odds were calculated in August 2000)
    Owning a small business: 1,000 to 1
    What I like is the fact that when you own a business, you can actually increase the odds (if you are trained in business and work hard at fine-tuning your operations).

    Source: Rich Kid Smart Kid, by Robert Kiyosaki
  3. In other words that odds of becoming a pro trader are about as good as anything else that pays really big money.
  4. Podimer


    there then, that sounds kinda promising.
    so if you run your trading as if it is your small business with the financial vehicles you trade as your employees to hire and fire if they are not working well for you anymore.
    if you are a discretionary trader, each day you come up with a rough business plan by the news, bias, futures to fair value, etc. or if more algorythmic, your system is your biz plan.
    with that, you have the better odds of 1000 to 1 to become a millionaire:D and then a pro trader ("pro" being consistently profitable and nothing to do with if you trade with a retail or prop firm, passed the 7, etc.)
  5. Amangod


    In your case zero
  6. Kiyosaki is a huge douche bag.

    That's not my opinion. It's been scientifically proven in random, double-blind studies using laboratory mice.

  7. Lol.
  8. LOL.

    Great reply.