And the study never took any of this into account because it shut off the study period to 1 year only and exlucded all traders with any experience more than 1 year.
So the study is shit.
basic man...
Study says Daytrading for a living is virtually impossible.
- Thread starter traderslair
- Start date
And the study never took any of this into account because it shut off the study period to 1 year only and exlucded all traders with any experience more than 1 year.
So the study is shit.
basic man...
Wow....and you have all this experience but you find the study to be correct statistical method in declaring day trading is impossible for ALL traders.
Interesting...I bet it took you some time to get to this point of amazing profitability.
In the study what were the results of traders who stuck with it more than a year?
Oh the study never considered that.... shit study.
Who the fuck is "them"?
ONLY NEW RETAIL TRADERS WITH NO PREVIOUS TRADING EXPERIENCE IN DAY TRADING.
Of course 97% of them failed but what is failure If you opened a $4000 trading account and ended at $3800 is that failure or did they spend $200 and hours learning to become better traders? Did he make $4000 the next year? Never know because study left them off the next year.
Shit study.
reading man.... basic.
The study said they did exist: Exactly 7 made more than U$100 a day.
Incorrect. Let me try a last time:
The researchers DID NOT conclude that profitable trading is impossible. Analogous, your conclusion that breaking 100 in golf is impossible is wrong. It is almost (virtually) impossible. And of course, the researchers did not include anyone who traded for more than 1 year because it would be double counting. The test was to figure out how many traders after one year did not continue, meaning, STOPPED to ever try to become a profitable trader. So, after one year 99.6% or so went broke and stopped pursuing the dream to become a trader.
Your point is that out of nowhere you make an assumption that a trader goes broke within a year and miraculously through some book reading and some online courses can become profitable, its just all about putting in a bit of study time, huh? Sorry pal, I have not seen such ever in my long professional career. In fact one can easily within a year figure out whether a junior is cut out to become a profitable trader or not. And even among those who possess the required traits and look promising within a year some still don't make it because of unforeseen circumstances. But to suggest the exact opposite, that an unsuccessful newbie trader can turn himself into a winner is ridiculous. It has never ever been proven and goes against the grain that any professional trader will have experienced in his life time.
The researchers DID NOT conclude that profitable trading is impossible. Analogous, your conclusion that breaking 100 in golf is impossible is wrong. It is almost (virtually) impossible. And of course, the researchers did not include anyone who traded for more than 1 year because it would be double counting. The test was to figure out how many traders after one year did not continue, meaning, STOPPED to ever try to become a profitable trader. So, after one year 99.6% or so went broke and stopped pursuing the dream to become a trader.
Your point is that out of nowhere you make an assumption that a trader goes broke within a year and miraculously through some book reading and some online courses can become profitable, its just all about putting in a bit of study time, huh? Sorry pal, I have not seen such ever in my long professional career. In fact one can easily within a year figure out whether a junior is cut out to become a profitable trader or not. And even among those who possess the required traits and look promising within a year some still don't make it because of unforeseen circumstances. But to suggest the exact opposite, that an unsuccessful newbie trader can turn himself into a winner is ridiculous. It has never ever been proven and goes against the grain that any professional trader will have experienced in his life time.
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I was profitable within year 1. Made several million USD in year two at a now-bankrupt investment bank.
The study never considered that because your point makes absolutely no FUCKING SENSE
The study never considered that because your point makes absolutely no FUCKING SENSE
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lol, you even omitted opportunity cost. While you may have lost $200 I made 150k base in year 1 and 220k base in year two.
Learn how to become a better trader? Where did you pick up this hogwash? A good trader can become a better trader, but a losing trader does not turn into a good trader. Never heard that, have you? If that held even remotely true you would not see a single snake oil trading education salesman, they would all "turn" themselves into better traders, after all they wrote the damn education themselves. They should become better traders quicker than all their dumb students. Not happening. Sorry to break it to you, pal.
An analogy to you: Test games where scouts spot potential NBA material. They find 1 or 2 guys in hundreds if not thousands. Ever seen a mediocre player who was overlooked by all the scouts and colleges and then miraculously self-improved and exercised harder than anyone else and then eventually still made it into the NBA? Sure perhaps one or two but those are anomalies that are usually filtered out in statistical sciences.
Learn how to become a better trader? Where did you pick up this hogwash? A good trader can become a better trader, but a losing trader does not turn into a good trader. Never heard that, have you? If that held even remotely true you would not see a single snake oil trading education salesman, they would all "turn" themselves into better traders, after all they wrote the damn education themselves. They should become better traders quicker than all their dumb students. Not happening. Sorry to break it to you, pal.
An analogy to you: Test games where scouts spot potential NBA material. They find 1 or 2 guys in hundreds if not thousands. Ever seen a mediocre player who was overlooked by all the scouts and colleges and then miraculously self-improved and exercised harder than anyone else and then eventually still made it into the NBA? Sure perhaps one or two but those are anomalies that are usually filtered out in statistical sciences.
And I commend you for being honest to yourself. You deserve respect for that. At least you are ready to make up your mind to embark on a different style of financial management such as investing or turn to something entirely different. A lot of people on this site, however, seem to indulge in the daily pain it causes them when they lose again and again and again. They will never be ready to turn their lives around until they stop doing what they are doing and admit that what they have been doing is not working. Same as with addicts.
well arent you fucking special....you bullshit comment just exposed to everyone how full of shit you are.
Another Elite trader millionaire who made money immediately from year 1 with no losses.