FACT:95% of traders failed. . FACT:Many of them spent hundreds hours studing charts. on quad screen trading setups.. FACT:Some of them even bought Bulls**t trading courses. with fancy buy & signals.. FACTainful losses forced many to find gainful employment. with dental coverage included.. FACT:The rest spent there days trolling internet trading forums for an edge. or pretend to have found it.. ITS TIME.If any of the above describes you, join me as we accept and deal with who we are. We are the 95%, we are losers.
I want to be clear, this thread was created to give support to those who have lost large parts of there life, both in time and money to trading. Brokers and system sellers promote charts and moving averages as tools you can use to gain an edge, sales of their products and services depend on it.If you still study charts for an edge, you are not ready to participate.
The question is why are they failing? The answer is, they DO NOT have a proper college degrees to become a trader. Trader is a CAREER PROFESSIONAL that requires college degrees. Math, Computer Science, and a minor degree of financial Math are the degrees to become a trader and begin working in the house. Those 90% or 95% or 98% losers looking for shortcut by studying trading at home subscribing 3rd party vendors. U LOSE!! U don't believe me? Look at your loses for the past 20 years. U were never up. U profit and u gave it back. U profit for 2 years thinking u are the GURU but gave it back on 3rd yr and blew your account afterward. Ask yourself this: Is it possible to become a Medical Doctor without a degree? Is it possible to become a lawyer without a degree? Is it possible to become a school teacher without a degree? lazy = loser Too lazy to get a college degrees to become a trader. H-I-G-H-E-R E-D-U-C-A-T-I-O-N Don't u tell your kids that getting education is thy most important part of the life before starting a career? HUH!!! WHY CANT U? EAT YOUR WORD There are tons of successful traders who have a proper college degrees making more than $50K per month trading in the house. If you don't believe, go work for the house and find out. More than 90% of small traders lose! They just lose!!
I too am a proponent of education and tout that as HUGE importance in my and my families life,....HOWEVER, I will play devil's advocate here and disagree that trading or making money in many business ventures requires ANY degrees what so ever. A few examples come to mind,...but one very recent guy that was in the news for dying....hmmm....what was his name?....Oh yeah Steve Jobs...college drop out!! Another guy....Bill Gates. So as someone that has done well trading and is self taught I would say I disagree that you MUST have an degree in Business or finance. So I'm going to consider myself in the 5%. BTW, the reason lawyers and doctors have degrees and licenses is so that you can practice LEGALLY...If there were no law against it you would have many people practicing medicine and law without degrees.....90-95% of them would SUCK but a small few would actually be quite good. Just my opinion.
Think about this. Black Jack game. Many wants to become a full time successful black jack player. But, 99% of them lose. Who is the 1% successful black jack players? MIT Black Jack Team. http://en.wikipedia.org/wiki/MIT_Blackjack_Team These guys made millions by using quantitative strategies. They can easily beat the house. What is the difference between those 99% black jack losers vs MIT Black Jack Team. How come the MIT Black Jack Team is better than those 99% schmuck? There is no official black jack college degree to become a successful player. The reason MIT Black Jack Team wins because they are mathematician and computer geeks. do everybody have the same personality identical looks or same brain that steve jobs and bill gates have? They were born intelligent. How come u are not steve job? these guys (jobs, gates, michael dell, etc) represent 1% that do not need degree to become rich. Albert Einstein has a Phd degree and is the most intellects in human history. Can Einstein achieved the most intellects in human history without a Phd????
The guys mentioned-Jobs and Gates had thousands of hours of programming behind them giving them the intellectual tools to succeed not to mention serendipitous period in which they were born that gave them tremendous tailwinds on their way to billions. Furthermore, for every millionaire w/o a college degree there are probably 20 who are in the same tax bracket w degrees. One can't refute the strong correlation of material success in life with higher education attainment. People who say it is not needed most likely did not attain it and hope that they , one day, would become one of the outliers that bucked the correlation. I , for one, wished I worked for an MBA or JD instead of playing pacman in college. I probably would have a nicer car and bigger house in Fairfield county CT ..lol
If u worked for an MBA, u would have met many important students soon to be billionaires in school. It is not only getting educated, but meeting and making friends with co students.