simple answer but effective
How to become a successful trader?
- Thread starter Coner1980
- Start date
as the best part of trading, i think a demo is the best solution even though most of the time demos results actually not works.
The platform I use was built over 10yrs to produce a targeted Alpha number above benchmark without the need for track record nor the need for capital (launching hedge funds and family office), against that you cannot succeed without a track record and without matching capital unless you have fintech to offset, whether you trade yourself or its managed.
If you take managed money then with $10,000s deposited your return would be 40% on Alpha with 60% fee, then you ask what happens if you trade the account yourself looking to book 100% of Alpha and it's simple, your losses will be 60% of your returns netting you back to 40%, which will induce you to over trade or over leverage losing all profits and all capital, at $1,000s capital it optimistically goes up to 70% losses.
Simply from a combination being lack of experience and/or lack of sufficient capital, plus lack of real fintech/algos (not trading platforms) to compensate the first two, therefore you accept the losses and succeed (no one ever does), build the fintech to compensate and succeed (takes a decade), have enough capital and experience to succeed (takes a decade), or you buy that knowledge (Bloomberg/Fund Manager) costing the Alpha fee for that capital amount.
Which broker would you recommend to choose for any beginners..?
skill is temporary , there is no way to ignore but experience is the main fact in this trading place . so need to build this
experience is a thing that relates to a long-time issue, so traders need to keep patience first of all.