This "study" was, of course, widely reported by the big firms and quickly became FACT. Even today, you will hear John Bogle quote it as written in stone, "of course, Maria, as you know, 95% of people fail at trading", "studies have shown" etc etc This study was done during the first part of a very significant transformation of the financial markets as the internet has allowed anyone with the capital, knowledge, and desire to take charge of his/her personal investing, (short/long term) to participate. I think we will see much more success in the future as people become aware that one has to treat trading as business. Capital, knowledge, etc etc....training or affiliation with a prop shop, like a Bright... When I see a "trader" using the terms "bet or win" that is a red flag to me that this guy is really gambling, not trading. I use the term, "earn" as that is what I feel that I do when a trade earns a profit....my brain power, knowledge etc etc is how I try to make money. Not "betting" . The future of trading is huge because of the internet.... SteveD
Yes I quoted the whole thing because I think it should be repeated. We should all pool our trader money and buy our own country. We can use the U.S. Constitution as a base [Since the government isn't using it they probably wont miss it ] And we can all get away from the Fascist dictatorships that we all live in. We will call our new country, "EARTH"
Quote: I had exactly the same reaction regarding Stockgirl's comment.It's absolutely true Universal Suffrage Movement fucked up lots of things(there is a good article on the subject on www.mises.org) Haven't looked at the article yet but I always wondered, If 50% of the population was working and still had unemployment, the doubling the working population would be catastrophic unless the second half also created the same amount of jobs per capita. So the only course of action would be to inflate the price of money gradually paying people less as more workers come in Maybe this is what happened but I do know this. It used to take one income to raise a family, now it takes two.
Yes he is. Even if he's telling the truth, which still has to be proven, he doesn't have the right to be so offensive. That was simply un unjustified aggression.
Yeah, misogyny apparently is in again, hooray, but it's rare to see it so flagrantly displayed without even a veneer of intelligence to hide it.
I wish I could take that bet. There have been several studies over the last 100 years showing that 10% success rate is rather optimistic. The traders who make serious money year after year - is probably less than 1%. Ask to look at the figures of any of the firms at ET - for example Interatcivebrokers- they will refuse to disclose. p27 of How to trade in stocks: Jesse Livermore sent a wire asking his broker to send a large sum of money to his bank account. The operator was shocked: "Ive been an operator here on palm beach for twenty years and that was the first message I ever sent asking a broker to deposit money in a bank account of a customer". I"ve seen thosusands and thousands of messages passing over the wire from brokers demanding margins from customers. But never one like yours. I want to show it to the boys"
Why do people trade? The challenge and reward potential. From a book review at amazon.com : Q Another wise man (Gerald Loeb) once said, "Nothing is more difficult, I truly believe, than consistently and fairly profiting in Wall Street" UQ
Lol, I've always found that ignorance runs rapid in those who would choose to attack a person instead of their argument. p.s. thanks for quoting it all together. My quote begins after the word "mises.org" my fault for not being able to "bold" the part that I wanted. Your fault for placing judgement on someone based on assumption verses fact, reason , and research. perhaps you can find a job with the media if your trading career fails. as well, the question is a valid one. If you don't like it please go back to playing Frisbee with your pinko or Fascist friends, whichever brainwashed dogmatist group you happen to be with. Thanx. (Psst... I may be a misogynist, but I prefer to think of my self as a misanthropist)