Any body know the number behind the ratio of successful floor and screen traders to the number of Professional athletes?????? Is believe that it is a bigger number of Professional athletes than successful traders and what is the mean average income of those two population>>>>
i have to agree with prae on this one. 95% are retarded. i see ample evidence of this every day. i wish i didn't feel this way, i truly do, but i fear it is a fact. no, if he blows out that doesn't mean he is retarded. actually he's pretty freaking smart for a history major
95% of guys who are retarded guys are the ones in here expecting a firm or someone in this forum to "make" them a profitable trader. It's usually the guys who have a, "Gimme gimme" mentality. Another type is the guys who have no respect towards trading and other traders. Debate of opinion is great and it's fine but plain cursing and immaturity doesn't work in any field. Another thing is trading is a close to a 24/7 job. On weekdays you trade during market hours. Then you start doing your daily homeworks. You do some research and read books. Then you sleep wake up and do some pre-market preps. On weekends, you try to catch up on your studies or research. Also, some retards need to understand that there's a lot going on behind and under all the money. What people see is just a tip of the iceberg. Below water, people are sacrificing a lot more than most can imagine. One other thing in my list I want to add is: 1. You have to like trading, or like to succeed. Most traders don't last if they're 100% in it for the money.
Most history majors are egotistical enough to think they will not repeat the same type of mistakes that others repeatedly made throughout history. Most people who can't see how they could fail are the ones who after failing say "I didn't see it coming."
It's all about discipline. Such as, keeping a tight stop and sticking with it. I've seen too many traders become too apathetic about stops and they get toasted. Many times they have great trading plans that have the potential for huge returns but they give it all back and then some on their losses. One can have 5-7 small losing trades in a row with one winner and show a nice profit. But too many times he/she will either add to losers or allow a loser to become a crusher. I know it has been said many times, but it's the number one rule to follow. BOLT
LOL.... I never claimed that I was in that 5% category. I haven't blown out yet. Doesn't mean that I won't. Only time will tell.... Ask me that question again in 5 years.