Really? And what happened to long term capital and other hedge funds? Ever read "Fooled by Randomness" or "The Black Swan"? A statistical edge may be fantasyland itself.
I disagree that discipline is common. I do agree that more is needed than discipline alone. Acquiring self mastery helps for the psychological aspects of trading but not the methodology of the trading. Both are needed to succeed.
I am not sure it is 99% but it is probably anywhere between 90-99%. I heard from a clearing firm employee who stated that a very high number of very active accounts go bust.
Come on. Don't you think the one percent achieved a high level of self mastery? She has offered a way to do that. Sure not everyone needs to do yoga but a disciplined mind is a must.
For what you are looking for I recommend the great courses and audible.com has the best prices. There are on bossiness topics including economics and will explain what you want to know. You can also get them at your public library. Solid academic info at a great value.
Sleep deprived. Need sleep to trade. When ruminations of other things clog my mind, it is not the time to trade. When I realize I am not respecting the market. The market is in charge. I am just following it I can not control it.
Payment for order flow is a legal practice. I did not read any proof that customers got harmed in the process. The high frequency firms get there faster but that does not mean that at the time TOS customer gets order to the counter-party that he is not getting the NBBO price. That said it...
Because the bid is obviously wrong. In any event would they improve prices for a limit order? If I put in a limit order at $2.50 would they give me $2.55?
Mav,
In your scenario, what would you expect to happen if you placed a market order to sell? Would you get filled at $2 or would there be a price improvement? Suppose intrinsic value was $2.55 but you put the market order in. Then what?