This thread will help to decide if newbies and amateur want to pursue trading. A successful full time trader: 1) they have a capital to start trading a minimum $500K to make a comfortable living. 2) they do not subscribe 3rd party vendors and they do not google search for a holy grail system and spend thousands of dollar on useless 3rd party vendors books, softwares, and indicators. In fact, most of the successful traders are former prop trader, bank trader, hedge fund trader, floor trader, or begin their career working in the trader desk for a bank, brokerage, mutual funds, hedge funds, prop firm, and HFT firms. 3) Most of them have a college degree and the most successful traders hold a Master and PhD degrees in engineer (Math, computer) Those that graduate a PhD degree have a higher successful rate of getting hired as a trader in big banks (bank of america, chase, citi, etc) or big brokerages (goldman sach). Those brokerages/banks have a training program to help them succeed. When these guys succeed, they will know for the fact that a huge capital $500K minimum is needed to become a successful full time trader and play the game the RIGHT WAY. They are too intelligence not to overleverage, but trade consistently and constantly. Gambler: 1) They are not organized. They have no clue what is risk/reward trading. They do not have experience trading. They want to start trading with less than $5000. They overleverage like a gambler. For example, if they are profiting 3 days in a row, they will up it or put more money on the table. 2) They spend a lot of time google searching for a holy grail systems. They are willing to spend thousands of dollars on worthless 3rd party vendors books, softwares, indicators, boot camp, trading room, coaching 1 to 1. In other word, most 3rd party vendors are fail traders and the newbies/amateur are spending incredible money learning how to lose. Losers learning losers on how to trade 3) They have no idea who are their competitors or have no idea how the game works. 4) There are many people who are still papertrading for 5 plus years. That person could have gone to a prestige college and take a degree on what the banks/brokerages/hedge funds are looking to hire instead of wasting their time papertrading. 5) More than 90% of small traders lose! They lose because they are a gambler. They just lose.