Its like any other profession - statistics say only a few really make it to the top be it , basketball, singing, medicine, engineering, trading , business - ofcourse you could always go to the jobs where all make it but paid pittance - ie. trashman or flip burgers and Macs
crgarcia deserves more ridicule than stocktrad3r. Nobody has done anything alone my ass. Basically if you live by the philosophy it's not what you know it's who you know you end up with a society where everyone knows everyone but no one knows anything.
I don't daytrade, if you consider daytrading habitually wanting to hit the buttons. I listen to my system, sometimes it says to trade twice a day, sometimes I don't trade for three days. But your point about being an unsocial person is a remark I resemble. I like to earn my living without having to interact with the typical office staff fare of bimbos gossipping about their sex lives and feminine guys yacking about who they took home last night. Both groups talk about clothes and makeup, which is really annoying and sickening. I can see why some traders sick of that BS rent space in a room of traders... eliminate the fags and golddiggers and you're left with people who want to chat, if anything, about trading. OK, maybe about the women they did last night, but try and get that from the traditional office fare of silly girls and gays.
Value Investing is a scam as is investing in general. As to why, let's consider what constitutes buying a (common) share in a company. When you buy a (common) share in a company you buy a infinitesimal stake with very little to no input into the actual management of a company and with no right to demand earnings or assets proportionate to your stake in the company. Yet to receive this "privilege" people pay several times the assets (book value) and earnings per share(value investor consider it a "bargain" when you pay less than 15 times earnings. Try using this methodology when purchasing a corner grocery store...). People debate why 15 times earnings is good here but bad there. Why not 13 times earnings? Why not 21? Or 40.5? There is no such thing as intrinsic value. Most everything is subjective. As an example, I believe Google is a glorified search engine, stock_trad3r believes google will rule the world in 10 years. It should be noted that Pundits frequently use next years or even 5 years from now projected earnings to justify price now. While I totally disagree with the premise of using future earnings to justify price NOW, why don't they DISCOUNT those earnings to present value? Even when you talk about book value, you are talking about accounting terms. Assets could be illiquid or worthless. From an economic point of view, whether you buy a share with 15 times earnings or 40 times earnings your purchase does not make sense. What you end up doing is buying something with the expectation that someone will buy it later at a higher price i.e speculation. Wall St conveniently highlights achievements of the US stockmarket in the 20th century but it does not take a genius to realize it will not repeat. So this scam goes on by regular infusions of cash from 401(k) into mutual funds and foreigners. I read "The intelligent investor" and it was book that did not impress me in the least(I also read Technical Analysis of Stock Trends by Edwards&Magee and while I was not awed I found its reasoning superior to the "intelligent investor") Several hundred pages devoted to telling me that I am better off "buying the market" and hoping!!! for an average result as a "defensive investor" Phil Fisher the author of "Common Stocks and Uncommon Profits" believed that the best time to sell a stock was "never". Imagine how awesome it would be to buy GM in 1929 and hold it till now... Oh wait a second. Nobody can have such a long term acumen for strategic changes in technology and in the world. I bet even Albert Einstein could not foresee the internet, myspace and cell phones. The morale of the story, don't act like you are an investor when you are not. I personally believe that the markets don't measure reality but People's perception of reality I don't care about being "right", I don't care about intrinsic value. I don't pile into company earnings, GDP reports, unemployment reports, etc. I realize that there are many people who like to provide their often misguided opinion. There are way more of them and arguing with them is suicide. So I immerse myself in the charts. They to me provide objectivity. Instead of "hoping" for 8% a year I go for a lot more, using the ideas of resistance/trends and overextension. P.S I am attaching a mini broker statement for my GBP/JPY trades. Notice the timing of the second trade(compare it to a chart).
After posting the original image I noticed one flaw in it. It is based on a local file. The reason for it is simple: when you generate reports from fxcm micro platform the output is a local file. Local files would have a path in the address bar that would indicate my first and last name. That is why erased the address in the address bar. I generated a report from my account on the internet in firefox this time. Technically you can create a webpage on your desktop that would show you as a trillionaire.