I don't know about other people, but I for one am a complete and total fraud. Now if you'll excuse me, my private jet is waiting outside...
has defined what it means to be successful in trading. If all you need to be successful is to make money consistently (say each and every month), then it's not so difficult. Anyone can do it, most people fail though, sometimes at first, because they really have unreasonable expectations, both regarding the time they want to accomplish their financial goals (greed) and the amount of money they aspire to possess.
I have personally met dozens of very long term profitable traders. However a good majority of them had some type of edge: Pit traders, market makers, arbitrage specialists, high end black boxes, etc. - all long term successful traders. There is money to be made - you just need to find your own edge.
Try reading Trading in the Zone by Mark Douglas.....you will see the only thing standing between you and success is your fears.
mathewt, Aren't you basically talking about the commercials or the house? MMs etc all have the type of edge we couldn't get unless well we were the house? The pit traders were longterm??
my exp.. at my last shop there was 2 guys prof. for more than 2 yrs. avrg 40-50k month. There was a retired institutional trader sitting next to me who was getting killed on a daily basis...go figure! The company I am getting ready to start with has a 50-60% gross positive people and 4% making 2-100k a day. what I've witnessed so far is far from being a significant statistical study so I really can't make any conclusions. All i know is that I've had good and bad days and I am far from being a successful trader. Bottom line is, if you really feel like alchemists trying to pull gold from coil go get a regular job! Whatever makes you happy.