I do not get it, so maybe you guys can help me out here? I glance at the trader P/L 2010 thread sometiems, and i cannot figure out why people are trading to make or win 10 to 75 bucks a day? this is absolutely ridiculous to me.. i think minimum wage is 7 bucks an hour right? so many if not most are actually making less than minimum wage!!!!!!! 8x7 = 56 bucks every day guaranteed net gain. 56x5= 280 a week 280 x4 = 1120 a month 1120x12= $ 13,440 a year.. what is it that drives most of you to keep trading whe you are actually making way way less than minimum wage while doing it? look at the trader p/l thread and add up ten to 20 days for some of those traders and most of the time it is negative, but even when positive it is peanuts.. WHY?
they have to start somewhere did you just jump in and start making 10k a day when you first started----- i didnt
no of course not, but most peopel over estimate their abiltiies from teh get go.. i sure as hell never posted gains and losses at 35 bucks.. i would s
Most likey their P/L is relative to their overall capitalization? If they posted percentage gains, as opposed to dollar gains the results might be more impressive.... or tragic.
Do you actually think starting this thread adds more value than some PIKER that trades for $20 a day? If the piker is consistant and grows and learns, he is actually more advanced than you are isn't he? Yes folks we have a winner!
everyone wants to be praised no one likes to be criticized, but why are numbers so small on that page in the recent year? Simply coz all the big hitters are no longer making any sig money as compared to past years, this should give you an indication of how things are going for daytraders.
Who goes to college and walks out 4 years later with a 50K negative net worth learning some Liberal Arts. So the noobs learning a trade actually earn lunch money, hey they are learning a craft and making some bucks in the process. I cannot see how that is a problem. Why is it that people assume folks just became pros day one. I never hear people saying hey I can become a doctor in 3 days? When I was wet behind the ears in this industry it was not easy, it took a few years of good experience with occasions of getting burned in the process. Just like Airline pilots, once a Trader gets lots of good hours under his belt things become easier. Anyone who tells you they can become king in a few weeks is full of BS.
maybe they're trading with a fraction of what they're making, like one guy said. Maybe they started with 5$; I'd call a 500+% increase a pretty good day
why do some people try to pass off paper trading results as real, get caught, and then come back and act like some big hitter? http://www.elitetrader.com/vb/showthread.php?s=&postid=2587006#post2587006
Because most daytraders are losers without a life, as simple as that. First daytraders get suckered that they will make a killing. Then they "accept" a modest living as a goal. Then they blowup and they have nothing. The plain truth.