Ripley, I do understand where you are coming from. However, you are probably doing them a favor by taking their money. Besides, they are probably better off doing something else with their life. The elite trader knows that trading is predatory in nature. Kill or be killed. Afterall, where does all that money come from, right? Those who fail in this business do not have the characteristics of an elite trader. They aren't modest enough, patient enough, disciplined enough, and assiduous enough. In forex, I wasn't kidding when I said AT LEAST 99% of the forex traders will eventually fail. For the past 10 years, I have seen forex traders eliminated left and right. None of them had the above characteristics. Even here in this forum, most of the forex traders will be eliminated eventually.
I agree. Either you are the best, or the rest. In order for people in this racket to make good money in the long run, they NEED people to give this racket a shot and fail. I call it "The cycle of trading" I tend to believe that i will be the 1% one day. I take each day at a time, and i make sure my path to this dream is spared no expense.
Why not just say, it's a job, like any other job, and requires skill, on-going education and learning from past mistakes. Glorifying it or making it sound like you're a barbarian Hun intent on pillaging great villages, simply means you've never made or lost real money.
I've only started showing a profit from April this year.... so i feel im still new to this and can eventually be wiped out like so many others. But in a way im glad i couldn't make money for the first 1.5 years....cause now im wiser for it. Had it been an easy market when i started....i would've lost it all when markets turned sour.
Why not just say, it's a job, like any other job, and requires skill, on-going education and learning from past mistakes. What most people don't realize is that it is not like any other job. There are no boundaries paywise when it comes to this job. Look at the elite hedge fund managers. Kovner made $700 million last year. Lampert made $1billion. Do you think for them or any other elite that it is just a job like any other job? Furthermore, there is no real education for elite traders. Glorifying it or making it sound like you're a barbarian Hun intent on pillaging great villages, simply means you've never made or lost real money. I'm not going to get into a long drawn out argument like what I've seen other traders get into here. I'm not here to insult other traders. Tom Cole, you can do all the insulting you want. From what I've seen the best in any profession always approach their job and think differently from the rest. I have my own trading to focus on.
You take a rare few and extrapolate them to a universe. I would bet most indy traders make a comfortable living, but will never amass a real fortune. If you dont view it as a job to succeed at every day, you're roadkill. And most traders I know, have a number in mind and when they hit it, they quit. I'm not insulting anyone. Simple truth is that the loudest here, have little to no experience, trade very small positions and think beating up brokers to save a few bucks on commissions makes sense. If your approach works great, but I've heard that so many times from folks who went belly up.