Yeah I should have clarified - if their approach was investing in or trading stocks from the long side, then beating the S&P would be a decent benchmark. Obviously if they are doing longs & shorts, or trading futures or forex, then it's different. In that case, a reasonable absolute return would be sufficient.
You consider that as proof ? I have lost this year about $3000 net but I can post blotters of +$1000 days. Cherry picking trading days is the secret. Vendor standards of proof ? You still stand by your claim that the spread is a no-cost factor ? http://www.elitetrader.com/vb/showthread.php?s=&threadid=146473&highlight=spread On topic now, I have kept a journal since my very first trade and what I can say is that I have become a less consistent loser , keep working hard.
This is excellent advice. I think that one of the best paths, in the past, to becoming a trader was to have gotten work on the floor of an exchange as a clerk/runner etc. Sadly those opportunities are becoming few and far between.
The promised course on profiting from the internet and creating your own Internet Business is just about ready to go live. You can find it here. http://www.elitetrader.com/vb/showthread.php?s=&threadid=149703