I believe i understand you very clearly SteveNYC, so you wish to resort to underhanded tactics instead of contributing something of value to this discussion. It must be because you lack higher education and thus are not able to articulate a solid viewpoint. Please feel free to present forth something meaningful, I welcome it. I am sure that those in this fine forum will appreciate it.
So there you have it members of this forum, SteveNYC will continue to engage in shallow behavior, not willing to contribute something of substance to this thread it appears. And will likely continue to insist that i fabricated comments for my benefit. He finds child like behavior much more amusing than having an intelligent discussion. So please SteveNYC, do this forum some justice and provide us with something of substance. Surely your advanced degrees hanging on your wall could assist you.
Traders fail because of various reasons, which is why the rate of success in this line of work is so low. Overall, it's mostly due to lack of discipline but to break down that general statement, I will list a few. They risk money before having an edge. They think about reward and not risk. Refuse to take losses. Add to losers. Do not let winners run. Over leverage. Mostly lack of solid risk management.
in any profession, there is a certain amount of experience required to get past entry level, and the more experience, the higher you move,traders should stay at entry level sim trading until they are successful, then promote themselves to real trading,at that point they should have a very small loss max per day,week, month to adhere to. Tight rope walkers start on a rope 1 ft off the ground and slowy raise it, when it gets high enough to get hurt if falling, they use a net,no one joins the circus,climbs the ladder and walks a rope,before passing several failed attempts followed by several successful crosses Anyone can open an acct and start trading ,just like placing a bet at a table in vegas. This does not make one a trader anymore than playing your first round of golf makes you a golfer. This premise needs to be considered when you say most traders fail, because they weren't really traders to begin with.
Oh God. I've had that emg clown on ignore for over a year. I hadn't seen a post of his in a while and was hoping he had choked to death on a cinnamon ball or something. And you go and quote him.
I have to point out a few errors in those diagrams: 1. The 'didn't past the interviews' part is untrue, as many employees in the named firms move on to prop firms and stay there. 2. This seems to mistake 'trading arcades' with 'prop firms'. Legitimate prop firms do not have a 'required deposit' or whatever that is. But that said, I'm also going to expose myself to a lot of criticism by agreeing that there's significant correlation between level of education and any kind of success, including that in trading.