what strange erroneous title. It doesn't mean if you do hedging short term investing long term investing swing trading position trading on this planet, chances of making yearly profit is very very high !!! You need to try various trading strategies , instruments etc and see which suit you. and stop cursing & blamming day trading.
In the following video you can find a radio program where "Buzzy" is interviewed by listeners. As an interesting thing in its evolution, it has the change it has made from operating futures of the S & P500 to sell options. He talks about the difficulty of operating intraday the future of the S & P500, due to the incursion of algorithms and automatic trading. The discretionary trader in these "time frames" has it very difficult. Interesting interview with some knowledge pills ... Pit bull step to seller options
The only thing that would make it "impossible" is if the market stopped moving. The two things which would make me leave would be lack of profit or no longer enjoyable. If there has been any material change is price development over the past 15 years or so, it's been too gradual to notice. A trader is always making adjustment to his/her trade plan through time to optimize and adapt.
As smart as he is and as successful as he was in the Pit, he would still have to develop the skill set of a technical chart trader. As he is already worth millions, he may not want to go through all that. I don't know much about options but I know it's better to be a seller than a buyer.
Good point. I enjoy trading and (probably) wouldn't entirely walk away, except for the periods when range completely evaporates. But I think if I began the path in his situation, I might have lacked the drive to navigate the skill/behavior learning curve. Because as much as I enjoy trading now, some of those early learning days nearly broke my will.
I think most of were humbled but we kept on and didn't end up cynical and negative. I have no problem with those who elect to quit, it's a tough road and there are other ways to live but the ones who quit and insist it can't be done have learned nothing....and that's a shame.