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Specterx said:
Of the 24,000 accounts at the time of discovery, "fewer than 100" were routed to the exchange and the other 23,900+ were internalized, as they all lost money. And that's not to say that the <100 were consistently profitable over meaningfully long periods, or earned even a living wage, etc., just that they put up non-negative numbers for a few weeks. Other prop firm records show that the vast majority of "profitable" accounts earn pitiful sums, often below minimum wage.
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He doesn't care.
 
Specterx said:
Pro traders meaning those who have worked professionally for Ibanks, funds and FOs, not retail pikers screwing around with day-trading off charts.

You just have no grasp on the reality of the situation, that's all. Last year the CFTC sued one of the "funding firms" and some numbers came out. The firm had 24,000 "live" accounts, as in accounts which had actually passed the combine stages. Any accounts which demonstrated consistent profitability over more than a couple of weeks were routed live to an exchange, the rest were internalized because they lost money. Of the 24,000 accounts at the time of discovery, "fewer than 100" were routed to the exchange and the other 23,900+ were internalized, as they all lost money. And that's not to say that the <100 were consistently profitable over meaningfully long periods, or earned even a living wage, etc., just that they put up non-negative numbers for a few weeks. Other prop firm records show that the vast majority of "profitable" accounts earn pitiful sums, often below minimum wage.
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One company only had like 0.014% of people reach a pay out. I believe it was a forex company, none the less that's actually so low it's impressive.
 
nonpln said:
I've seen a thousand people who think because they produce money via time and money, that they understand the markets related to day trading and readily give their advice to others, when they themselves don't have an edge to day trade. What's your point?
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I doubt that. You've been trading for 6 weeks. I've been trading for 23 years.
 
newwurldmn said:
I doubt that. You've been trading for 6 weeks. I've been trading for 23 years.
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What are you talking a bout? I asked you for proof of a few of your 100 you provided not even one. My proof is this entire trading forum. You guys in your own words, most of you admit that either directly or indirectly.
 
nonpln said:
What are you talking a bout? I asked you for proof of a few of your 100 you provided not even one. My proof is this entire trading forum. You guys in your own words, most of you admit that either directly or indirectly.
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You are limited to day trading because you lack the capital to hold overnight. There is nothing precluding neww or anyone else with capital from day trading, and your making that distinction makes you come off as a r*****.

Being forced to be flat at EOD is not an edge.
 
poopy said:
You are limited to day trading because you lack the capital to hold overnight. There is nothing precluding neww or anyone else with capital from day trading, and your making that distinction makes you come off as a r*****.
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cool
 
nonpln said:
What are you talking a bout? I asked you for proof of a few of your 100 you provided not even one. My proof is this entire trading forum. You guys in your own words, most of you admit that either directly or indirectly.
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there have been 100s of people like you on this board.

Unsurprisingly none of people like you at the bulge bracket bank I worked at.
 
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