100k profit is not 100k income newbies easily fall for these claims. INCOME matters, not REVENUE Problem is when you talk about attorneys making 50k a year in revenue. They mean 70k in REVENUE. reason is that employers pay taxes not employees, unlike in trading. ANother hurdle for the newbie trader to overcome. So traders need to even make more money to even the odds. if a garbageman says he makes 20k a year he makes 30k.. first his employer pays 10k tax and then the garbageman pays 10k tax so revenue is 30k and income 10k.. but revenue seems to be 20k but it is 30k. nobody on other sites except elitetrader talk about taxes and expenses witht trading. Trading isn't that easy, like other self-employed jobs.
Cold, this is an excellent reason why you should go to those other trading sites, rather than creating thousands of aliases here.
And unfortunately your idea of success is tied to some preconceived dollar value in your head. Your smug attitude prevents you from seeing that 1) He's been trading sinse the 90's so he obviously has what it takes to last this long. 2) The average annual income is 50 to 70k, so even if he came out after expenses with this amount, he's keeping up with most Americans. I'll bet anything you dont come close to this guy, so the funny part is that you probably never will.
So the 2.0 version of THE DAYTRADER is a piker who is a hero to the struggling wannabes because he is portrayed as making 100K a year doing his 60 bucks in the morning while running his chatroom charging $200/mo. I have no problem with that portrayal and effect at all. However, personally I enjoyed the portrayal in version 1.0 much more. <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/SFvblyRNRRM&hl=en_US&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/SFvblyRNRRM&hl=en_US&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> Peace and good trading to you.
I remember that. classic. it is the actor from the show Pete & Pete. $8.00 a trade. no wonder so many fail at this game, I could not imagine trying to overcome $8.00 a trade.
Wish I could go back in time to those dot com days, man were they extreme, the commercials, the hype, the greed, the new technology. That commercial brings back memories of what it was like during the biggest tech bubble in history, then we had the housing bubble, then the commodity bubble, then the credit bubble, damn!!!! Since then all we have witnessed is fucking bubbles, bubbles, bubbles, bubbles here bubbles everywhere!!!!!!
bubbles are great if you get the job as head manipulator,these houses have cleaned up,and the volume and volatility, will be sad to see it end