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    "80% of traders lose money."

    Analytical skills and intelligence is highly overrated with regard to being a successful day trader. Why do you think actively managed mutual funds almost always underperform index funds? Believe me, there is a ton of brain power analyzing the markets with the most arcane computer models...
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    "80% of traders lose money."

    I was being facetious. These stats sound reasonable so in the absence of contradictory information, they are assumed to be correct. Anyway, I heard that it was more like 90% of traders lose money. The truth of the matter is that there are more important things to concern yourself with than...
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    "80% of traders lose money."

    Who's the genius who came up with the stat that 9 out of 10 new businesses fail in their first 2 years? Or that 9 out of 10 restaurants fail in their first year? Someone give me cold hard facts to support these claims, god dammit!
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    you decide yo would like to manage money

    Pretty arrogant for a newbie in the biz aren't you? I suppose you're only interested in multi-million dollar accounts? Jeez...
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    Goodbye!

    Epic epiphany. Move over Stevie Cohen, I have a new hedge fund hero!
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    Vegas Strippers Incomes 'Cut in Half'; Gaming Revs Plunge; Empty Houses

    What a hot GILF!
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    You're effing ads are crashing my browser

    You guys should dump your PCs and use Macs. No problems here!:p
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    "80% of traders lose money."

    Correct. Paper trading doesn't work. It just doesn't replicate real life when emotions like fear and greed and bad fills come into play.
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    Warren Buffet will go broke

    I guess being broke for him would be if his net worth dips below $10 billion.
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    Lightspeed prop

    0.8 cent/share, 45% payout and no desk fees. But hey, we got paid a draw, had health insurance and learned how to trade with $500K accounts! Plus we had video games!:p
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    Lightspeed prop

    When I traded with Momentum Securities/Tradescape in 1999, we had a trader's lounge that had a big screen TV, video games and a pool table. We also had free breakfast every day. Ah the good old days!
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    More Hedge Fund woes

    http://www.nypost.com/seven/10172008/business/barakett_bros__lose_hedge_magic_134015.htm
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    Wait, does "tape reading" mean watching TaS? Or looking at price charts?

    Price action is an all-inclusive term that includes tape reading and technical analysis.
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    Wait, does "tape reading" mean watching TaS? Or looking at price charts?

    Tape reading as it applies to stocks refers to analyzing the prints on Time and Sales to discern clues as to which market makers are accumulating positions and identifying repeating patterns to forecast a move in price. It means identifying the "axe" in a stock and seeing how the stock behaves...
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    Structuring a friends/family fund to daytrade

    Hope you're an experienced trader or they won't be your friends for long.
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    Answer This...

    Option b is better but I don't feel like doing the math.
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    "80% of traders lose money."

    Shit, it took me three years. I'm such a slow learner.:confused:
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    Brand Spanking New... A few tips?!

    Get your priorities straight. College degree first, prop trading second not vice versa. Don't screw up your life.:cool:
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    Steve Cohen went to cash last week (at the bottom)

    They will stagger their way into their shorts and longs using various brokers, ECNs, liquidnet, etc. so they don't tip their hand to the market.
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    Steve Cohen went to cash last week (at the bottom)

    Steve Cohen, along with a fellow alumnus David Tepper, are my trading heroes!
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