Face it! 95% of you wont make it, so go get a job!

[lpchad]

This thread is a waste. If you were actually making money trading you wouldn't be posting why others can't. You can't! What will be best for you is to report to a cubicle from 8-5 and become a yes man. Then you won't lose money, just your soul.

 

[Mecro]

Quote from gnome:

Edge, schmedge... no such thing as an "edge" other than front running or various forms of insider info.

Not true,

Simple edges via equity "prop" shops:

1. Bullets/conversions
2. ECN rebates
3. ECN arbitrage and the whole Millenium/NYFIX arbitrage
4. SOES bandits
5. Tapereading the specialist, piggybacking NYSE Open Book

These are pretty much all gone nowdays, they dont last long and only good in the early stages.

To take it a step further, I personally know guys who have funds running on esoteric edges. Obviously more advanced and complex than what I listed. Very interesting stuff, btw, can't go into detail.
They have a philosophy of finding an edge and getting in early, then either milking it fast or securing it tight away from the competition. Otherwise, it's not worth doing.

 

[Mecro]

Quote from lpchad:

This thread is a waste. If you were actually making money trading you wouldn't be posting why others can't. You can't! What will be best for you is to report to a cubicle from 8-5 and become a yes man. Then you won't lose money, just your soul.

Yes, because daytrading is such a noble & socially productive profession.
LOL come on, not that I'm in any way supportive of the corporate 8-5, but come on.

 

[fluttrader]

Quote from Mecro:

Have u ever traded at a prop office? Obviously not.



You just confirmed my statement. More capital, more risk availability, more opportunity, more profits. Common sense.

By the way, it's a known fact that Lack Of Capitalization is one of primary causes of business failure.

You're deluding yourself if you do not think CAPITAL is a big factor in trading a financial market which is a CAPITALIST concept.

I just read market wizards and 1 of the traders turned a few 100 bucks into millions

Give an undisciplined fool millions and guess what happens....

 

[Steelhead]

Quote from Mecro:

Yes, because daytrading is such a noble & socially productive profession.
LOL come on, not that I'm in any way supportive of the corporate 8-5, but come on.

thats a stupid argument
you obviously dont support a family trading
nor enjoy the benefits of all the extra time with your kids,
and agreed with the other poster , its a sad thread

 

[ElCubano]

Quote from Steelhead:

nor enjoy the benefits of all the extra time with your kids,

my kid doesnt have shcool today and has been bouncing off the walls all morning....I wouldnt have it any other way...

 

[wiesman02]

yah yah 95% don't make it, I believe that and its been debated millions of times. here's my 2 cents.


1) most people don't have an edge.

2) since they dont have an edge, they lack discipline

3) W/o discipline they can not define their risk management and money management.


Therefore, they fail. Soon as #1 comes together, u can begin to worry about 2 and 3. Some people are stupid enough not to think about 2 and 3 after achieving their edge. Hence why so many don't make it.

 

[Steelhead]

Quote from ElCubano:

my kid doesnt have shcool today and has been bouncing off the walls all morning....I wouldnt have it any other way...

get your ass outside and pitch him some baseballs or shoot some hoops

 

[Sniemiec]

I wonder how broad the scope was to end up with '95% don't make it'. Are we including the guys who bought a hot stock on a tip, got wiped out and called it quits? If so that would make up a good 60-70% of that 95%.

 

[Mecro]

Quote from fluttrader:

I just read market wizards and 1 of the traders turned a few 100 bucks into millions

OMG, that's amazing, you now know everything about trading.

Give an undisciplined fool millions and guess what happens....

As opposed to giving him $5,000 or $50,000? I wonder which sum will allow the newbie to experiment, learn, make mistakes from which to learn from and chance for profit.

Proper capitalization is one of the key factors in success of ANY new venture. Lack of proper capitalization is one of the biggest reasons for failure of ventures.