Life of a trader

galvinlee888 said:
Lol, 99.9% of the gamblers loss. Those winner are no different than the lottery winner.

And thank you for promoting gambling (day trading) in Internet to novice regardless what is your real motivation are.
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Failures are everywhere in abundance -- even in the so-called safe world of investing o_O:confused:

If you will partake in anything in life Worthwhile...you have to be prepared and willing to be a casualty in pursuit of that gold dream.

This is EliteTrader....not EliteInvestor...it's fairly safe to assume anyone here is pro-risk/reward.
 
rajesheck said:
Google for the success rate of people who started business all over the world. Only a very less percentage of them succeed.

Ofcourse the succes rate of day traders will be far worse because micro investment attract common people in large scale who mostly have gambling attitude rather than solid passion to learn trading.

Traditional business needs considerable investment. So people will think 100 times before testing the waters.

Here in trading, particularly day trading every thing from opening a trading account to start trading needs minimal investment. So even a taxi driver can trade.

Hence the 99% or more failure rate.

Makes sense, right ? :)

Day trading needs very good temperamant which most traders lack. Traditional business needs temperament plus lot of industry/market knowledge. In that perspective day trading is far easy to make money. On the other hand day trading needs quick decision making skill due to hyper speculations. From this perspective day trading is far more tougher than traditional business.

What i am saying is understanding comes from various perspectives not just from one single narrow view point. And 360 degree perspective comes mostly from wide life experience. People with narrow view point explains their inexperience. :)

This blog naturally attracts people ranging from taxi drivers to business class people alike. Its wonderful to watch how each individual either reveals his wisdom or exposes his ignorance.

One symptom of matured people is diplomatic way of responding. Offensive words or easy judgements are symptoms of immaturity or inexperience in life.
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The point is those scammers try to promote day trading in internet (1% return each day and other bs) , in which this surely will benefit the broker, bucket shop, signal vendor, educator, day trading site owner and etc while the only loser is the novice day trader.

I can make a comfort life style with 5 % return through investment and proper trading. I am a bit lucky as my past experience in institutional make me fully aware of the trap of so called day trading dream.

Btw, thanks for spend the time to write lengthy reply. I have enough experience and instrict to smell those snake oil scammer from far away.
 
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lawrence-lugar said:
Failures are everywhere in abundance -- even in the so-called safe world of investing o_O:confused:

If you will partake in anything in life Worthwhile...you have to be prepared and willing to be a casualty in pursuit of that gold dream.

This is EliteTrader....not EliteInvestor...it's fairly safe to assume anyone here is pro-risk/reward.
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Many positional traders regard day trading as gambling. Irony is in day trading stoploss will function appropriately, whereas in positional trading gaps can defeat the purpose of stoploss. This is a serious set back in risk management, an obvious element of gambling. :)
 
rajesheck said:
Many positional traders regard day trading as gambling. Irony is in day trading stoploss will function appropriately, whereas in positional trading gaps can defeat the purpose of stoploss. This is a serious set back in risk management, an obvious element of gambling. :)
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Lol, do you really believe Warren Buffet will put a stoploss in his position trading ( at some bs support/resistance level)?
 
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