i think pool of money available for grab to daytraders shrunk significantly thks to HFT & GFC. Your friends are lucky not to feel this trader's recession.
Something must be missing in the story. Why does OP's friend provide the funds to all traders, even those who consistently lose? Why not test their abilities and only hire those who are consistently profitable?
I could care less what others make or dont make all that matters to me is how much I make. Why do so many people care what others do? Y'all are like a bunch of nosey old ladies with nothing better to do than get in someone elses business. Who cares what others do???? Get a life!
The one I traded with had a 50% success rate with a number of traders into 7 figures. They hired smart and trained hard. They made money through commission, desk fees, and splits. It was well worth their while to invest in smart people b/c if they were successful they tended to stick around beyond their initial contract. You become part of a tight knit group.
nice try, but there not 294 guys who lost 100k. furthermore a lot of them may have been market positive but losers after commissions. no holy grail yet but keep plugging.
You get the point of what I was saying, though. As long as the majority of traders lose, and lose more than the few winners win, the firm is profitable.
------------- I could care less what others make or dont make all that matters to me is how much I make. Why do so many people care what others do? Y'all are like a bunch of nosey old ladies with nothing better to do than get in someone elses business. Who cares what others do???? Get a life! ---------------- hafez is trying to make a point, which you have obviously missed in order to tout your philosophy. the point is that daytraders and prop biz as whole have been on a decline. however, the point that's missed, is there just b/c there is no 'easy money' anymore doesn't mean that traders aren't making money. the rest of us have been saying these numbers appear to be off what others and myself see, so to take w/ a grain of salt.