Hello, I've got a couple of questions I was wondering if people could answer. First of all, what is churn and burn? Is that when a firm is constantly hiring and firing traders to get the 1 out of 50 traders that can make good money or is it some kind of trading strategy or neither. Also, what percentage of trading is based on luck? How similar is trading to gambling, like poker? Thanks!
Actually you're not off at all. The moron answering your question is. Churn and burn is a combo of the two. It's overtrading to generate commissions which usually causes beginners to BURN thru their initial deposit. You churn so much that you burn out.
The burn part is them burning through their own profits..... the churning is the excessive buying and selling you gnat.
Hi, I am citizen and resident of Serbia, and I am trying to open equity options trading account. There is a limited number of online brokers accepting clients outside USA. They demand that wire transfer of money should include instructions not only with BENEFICIARY Brokers name and Broker`s account , but also FINAL BENEFICIARY My name My account. This last part of the instructions I can not fill in because of some local Serbian law restrictions. Does anybody know any broker that does not insist on this part of instruction or accept funding account using MASTERCARD. I hope somebody has some idea how to solve this problem.