Here's real verifiable proof 90% lose
- Thread starter Dissident
- Start date
agree
Yeah especially if you put the pieces together on the timeline, he left Pristine where he was the "lead moderator and trading instructor of their trading room," right around the time his trading record starts with Tuco, then six months later after rolling through 35k and failing as a trader he goes straight back to teaching. Absolutely unbelievable, it is no wonder so many people fail at trading.
What is also unbelievable is that there are people on this site chasing off good traders with insanely high, verifiable PNL who want to teach for free, while assholes like Dan Gibby who cant even turn a profit charge thousands and are a dime a dozen.
Just a comment that I've made a few times before (and, yes, I guess I'm bias, and I guess my comments can be discounted as marketing, etc., but I think valid nonetheless).
Traders do not "fail" per se' - those who attempt trading for a living do fail, and in pretty high numbers.... just as every other business venture fails to the same extent. Traders have to make money or they are simply not traders any longer, they are forced to back and look for jobs in whatever field they can find. Face it, 90% of all business ventures fail.
What I tell new people, is that good traders will have a lifelong career (and point to some of our long term people). There are fewer and fewer jobs (getting worse as we know), and, yes, going it on your own is risky. Risk with reward is fine, risk without reward is foolish, as we all know.
From my website;
Quoted from the WSJ: John Canale, a former Morgan Stanley broker, has been trying to give brokers an alternative. In recent months, he has brought several former brokers over to his proprietary trading business. "This is a recession-proof job compared to being a broker," says Mr. Canale, who executes his trades through Bright Trading LLC. "When you're a retail broker, you just have to sit and wait for a bull market." Becoming a trader has allowed him to be more "nimble," he says. (Excerpt WSJ)
"While Wall Street is laying off, Bright Trading remains strong. Traders, brokers, analysts transition to trading for their own profits. Exceptional business model thriving. Click here for full article.
The way I look at it, if you're wanting to go it on your own, and make it in the securities industry, you can attempt it with a small retail account, or go about with: Lower risk (your deposit), unlimited upside (not blue sky, not rose colored glasses, but you can make a lot of money), No franchise fee and, where else can you borrow a $million every day for nothing?
To each is own, I bring this up not for controversy, just for conversation.
All the best,
Don
Traders do not "fail" per se' - those who attempt trading for a living do fail, and in pretty high numbers.... just as every other business venture fails to the same extent. Traders have to make money or they are simply not traders any longer, they are forced to back and look for jobs in whatever field they can find. Face it, 90% of all business ventures fail.
What I tell new people, is that good traders will have a lifelong career (and point to some of our long term people). There are fewer and fewer jobs (getting worse as we know), and, yes, going it on your own is risky. Risk with reward is fine, risk without reward is foolish, as we all know.
From my website;
Quoted from the WSJ: John Canale, a former Morgan Stanley broker, has been trying to give brokers an alternative. In recent months, he has brought several former brokers over to his proprietary trading business. "This is a recession-proof job compared to being a broker," says Mr. Canale, who executes his trades through Bright Trading LLC. "When you're a retail broker, you just have to sit and wait for a bull market." Becoming a trader has allowed him to be more "nimble," he says. (Excerpt WSJ)
"While Wall Street is laying off, Bright Trading remains strong. Traders, brokers, analysts transition to trading for their own profits. Exceptional business model thriving. Click here for full article.
The way I look at it, if you're wanting to go it on your own, and make it in the securities industry, you can attempt it with a small retail account, or go about with: Lower risk (your deposit), unlimited upside (not blue sky, not rose colored glasses, but you can make a lot of money), No franchise fee and, where else can you borrow a $million every day for nothing?
To each is own, I bring this up not for controversy, just for conversation.
All the best,
Don
Well everyone now knows itâs difficult to make money in trading and only about 5%-10% actually make money at it.
From this 90% that donât what is interesting and still do not know is the breakdown of:
1. How many traders actually made money trading (that is showed a profit) before any trading expenses were deducted and then expenses hit and turned them unprofitable
Vs
2. How many traders actually lost money just trading, then the fees hit them and made them even more unprofitable.
From this 90% that donât what is interesting and still do not know is the breakdown of:
1. How many traders actually made money trading (that is showed a profit) before any trading expenses were deducted and then expenses hit and turned them unprofitable
Vs
2. How many traders actually lost money just trading, then the fees hit them and made them even more unprofitable.
I agree. Jesse livermore blew up numerous accounts in his lifetime
Quote from ShawnS:
This list is actually encouraging to me that theres some making as much money as they are.
90% of people failing at something is true for pretty much anything thats worth doing. The one's that fail just aren't into it enough to stick it out for the long haul.
You can't fail at anything if you dont give up