One study can't testify for real life. People make a living from day trading and it's a fact.
Study says Daytrading for a living is virtually impossible.
- Thread starter traderslair
- Start date
interested in what you traded to reach that #
Trading is a bit like being a magician.
Magicians appear to be able to do the impossible. You might dream up all sort of ways they achieve what they do.
When you meet a magician and they start to tell you how their tricks work, the reality is a lot less magical than you first thought.
So - you see in trading - all these ads for 90% win rates, hidden magical price levels to give you massive returns. That's people selling the magic.
Then you go see a successful prop trader with a 50% win rate - it all seems a bit disappointing...
Magicians appear to be able to do the impossible. You might dream up all sort of ways they achieve what they do.
When you meet a magician and they start to tell you how their tricks work, the reality is a lot less magical than you first thought.
So - you see in trading - all these ads for 90% win rates, hidden magical price levels to give you massive returns. That's people selling the magic.
Then you go see a successful prop trader with a 50% win rate - it all seems a bit disappointing...
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L.p.
DC current is more lethal than AC current, but AC kills more people - see the logic?
Is that because there are more retail traders?
DC current is more lethal than AC current, but AC kills more people - see the logic?
"Is that because there are more retail traders?"
No, although there are more retail traders, but pro traders have advantage in accessing better and faster information and better trading equipment, that will more than offset it.
It is because pro traders are not allowed to take big risk, and since they are not allowed to do so, they lack experiences in making exceptional high returns, lack experiences in dealing with high risk situation.
No, although there are more retail traders, but pro traders have advantage in accessing better and faster information and better trading equipment, that will more than offset it.
It is because pro traders are not allowed to take big risk, and since they are not allowed to do so, they lack experiences in making exceptional high returns, lack experiences in dealing with high risk situation.
I have yet to find an Economist (PhD or otherwise) who actually understands the REAL economy of the modern world, modern money, derivatives or Central Banks. They are stuck in their ANCIENT theories of supply & demand, and money being printed ONLY when certain checks and balances are fulfilled on some old list that the bankers don't even use anymore.
There are some. Roubini is ok. I like the Australian Steve Keen. Another is Robert Shiller and Micheal Hudson. Economics is inherently political. This fact is inescapable. The discussion is tiptoeing around politically sensitive issues, the creation of money being one of them.
The real great economists are dead.
John Maynard Kaynes was a boss. He traded foreign currencies and ran businesses. Held office in high ranking government offices. Read his story if you think economists are fools.