Do you trade options? What is the data you use for back testing and where did you get it from? Currently I'm using quantconnect but data is all in the cloud
This business is no different than any other, or the fall of the events of a large number of events is no different than any other. In a selection of 100 randomly chosen people, 99 would say they are among the top, that is statistically verifiable top performers, the extreme version of Kruger Dunning effect. However the theory would tell you that only 3 of them would be real top performer, now lets put them aside and consider the more interesting aspect, 68 of them would actually manage to get along just fine in life and whatever they are doing in whatever field. Merely 16 of them would fail miserably to the point that they would be considered failures of the system. Thing is, do your best to not be among the 16 from the get go, by doing proper risk management and position sizing and keep going, you will be part of the 68 and put in the effort and and work yourself towards the 3, it is possible .
I think the movie rights will be a millions + hedge fund consultant and he should be all set for life
It teaches a lot about yourself and allows you to play to your strengths and work on your weaknesses. Those who bail out tend to learn little of themselves and little of the nature of the markets.
A good trader has a good (positive) expectancy. The better the expectancy, the smaller the chance that it was luck if he made money. Luck is inversely proportional to expectancy. The higher the expectancy the lower the luck, and vice versa.