Many (maybe most) "widely known facts" are wrong. The only study on this I recall is one from Taiwan, which I believe showed that "more than 80%" of day trading accounts lost money - though at the time, Taiwan imposed an 0.3% transaction tax. What is the success rate for aspiring traders who have invested, say, at least 2 years of full-time work? Even if only 10% of these guys go on to make a living, those are much better odds
Re-read the OPs' comments and then think - Comprehension Observation Maths Skills Because if you hope to ever succeed at trading you will require all of these skills and many more! P.S. Ditto for auspiv
Because I have 99.999% chance not making a living in any other occupation. I'm plainly a loser and so are many ETers. All jobs have some requirements. Except trading. Anyone can click "Buy" and "Sell".
well I think there's a big difference between 1 percent and 5%. The 95% lose figure is more accurate but I guess you were just emphasizing the futility of the attempt. The 5% figure applies to alot of entreprenuerial endeavors and trading is no different. The old 80/20 rule applies as well to the successful ones. 20% of the successful traders make 80% of the profits.
The bad cord is, that crgarcia continuously starts annoying or fluffy "Headline" Threads and then usually leaves without participating in the following discussion. His thread starting privileges should be revoked. he is mostly a thrill seeker, with little understanding of serious trading. Sort of like the stock_trad3r equivalent of thread topics.
It takes 10,000 hours to excel in any profession, to be in the top 5% or greater. Most people give up after a couple months because if they can't have it now... Don't know if it's true or not, a certain web site claims that the National Futures Association has said that it takes 7 years (about 10,000 hours) for the average intraday trader to become profitable, with a loss of 35k to get there. Some people much sooner, some people never.
You sure? How about some researcher with not so big paycheck? He simply wrote a report based on the answers he got, and then cashing in his payment. A simple work, with profit above the rest of his crowd.
What are you talking about???? crgarcia is constantly starting fluffy threads to garner attention. Look at his past posts.
because you can be that PERSON who makes it fruitcake. Where would A-Rod be right now with your pussy mentality?? Maybe he'd be a trader....