This thread hs been around for a while. Many others have too.
With respect to the topic of the thread.
Day trading means doing trades intraday.
Gaming the markets probably means using gamiing techniques to win doing a series of trades during the day.
Losers are mentioned in the title. Most potential traders participate in markets for a while and then they quit. The potential life span of such a participant is brief and the expereince really leaves as mark on the person for the rest of his life.
the process for becoming successful is simple and well explained. Please go to Behavioral Finance and print the lead there which is entitled "BF or BS?". It is a good standard for discussing whether "Day Trading is a Loser's Game".
For most people who take up considering trading; they observe, some experiment and all are ignorant. In terms of probability, and in terms of gaming, being successful in trading doesn't work.
the financial industry could not survive on trading either. Instead, the financial indutry uses other non trading avenues to survive.
There are an assortment of self policing membership organizations that give away "credentials" that indicate a person did what was required to make a payment in return for getting the credential.
If a person does not get credentials and say he is a professional, he has to obey certain limitations to not break the laws if he is to continue to trade for others than himsleve. All brokers are required to have their trading clients answer a regulatory agency questionaire periodically.
Today most IB's are quite stuffy about allowing any kind of out of the ordinary trading to go on under their rooves. The filed paperwork they require is followed up by personal interviews with such clients.
The questionaire is very clear about sorting amateurs from professionals. If you get classified as a professional, then you have different fees and costs than an amatuer. Professionals also have more severe reporting requirements.
Hee in this thread some paricipants have looked at the records of organizations that reugulate professionals. They reported back to ET some facts they think they found out.
There are many good examples of beginners becoming successfu.
Some have written books.
Today, it is no different than it has been in the past. Except there is more information and it is more readily available.
In conclusion, the vast majority of beggining potential traders keep their focus on repeated failure. finally, they accomplish quitting trading and then they tell others about what they cannot do.
How about reading the DOM?
