What are you doing here then? Act as a knight in white armor, salvage newbies from being eaten by evil brokers?
He is here to learn to trade. Like every newbie who has come before him, he charges at the first windmill he sees. Not a problem, at least he is trying. As he matures he will settle in the work needed to become a good trader, if he can last that long mentally.
Yeah, trolling for the purpose of someone "prooving" she/he can trade by teaching the troll is old story... Unfortunately, not many buy it nowadays...
Indeed, and is why I will tell a person how to trade, but if they are indirect, or display false bravado, I will spread those clues all over creation.
I have worked in trading arcades in London for about 6 years. I personally know at least 7 people that regularly make over £100,000 a month scalping futures. From S&P's, to 10yr Treasuries, to Oil, you name it, for every contract I can tell you someone that trades it. They dont have any algo's or systems, they dont have inside information, they dont work on a bank desk with order flow to lean on just use TT for their order entry and CQG for their charts. Their comission rates are probably a lot lower than being a trader at home, but if youre only doing 20 trades a day thats not important. They are day traders, and will do 20-30 trades a day, if there is only 2-3 ticks on offer they will take that, if there is 50 they will run it. But on 500 lot positions. They are not trading outside invesors money either but their own which they built up from about a £20k grubstake over years of hard work. Starting with 1 lots, and increasing it as their account grew. On top of these guys I know about 30 guys that will make £2-3k a day and have maybe 2 down days a month. Yes there are a lot of people that come to the industry and fail, but how many people are sh*t at golf? Dosnt mean that there cant be a Tiger Woods, or even a scratch handicap player of which there are thousands. I dont know why people bother even coming to a trading forum just to talk about 1% success rates. Sure its tough but believe me it is very possible
How reliable is your statistics ? I'll give you some hope: - it is much better if you trade FX http://forexmagnates.com/us-forex-brokers-account-profitability-comparison/ - and be careful with averages http://lordtedders.blogspot.com/2007/04/what-are-odds-of-becoming-successful.html