Where did the "90% are losers myth come from?

Quote from Omar Little:

That's fine, SIM trading is supposed to bolster confidence and help you step up your game. I'm not discounting the need to see ones own strategies at work before putting a lot of real money on the line. My only issue is with the bragging in terms of millions. Cause lets be honest...if you are admitting to SIM trading you are NOT trading millions.

At the same time, don't believe necessarily that your SIM trades will be truly reflective of how you'll handle yourself in the real game. I know you said you've traded or do trade with live money but you DON'T trade on the scale that you are in your SIM trading. Those results are bogus. Thats like saying a 1 lot trader will all of a sudden be able to flip 200 lots around without incident. That's just delusional.
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Ok, the returns aren't as big in my real life account because I never started with a million. I'll admit, but those returns on the simulator are realistic.
So, now your wondering why did I start with a million, because I wanted to explore the pressure of losing 4 to 5 million on a single trade. I wanted to know how fat and ugly it looked on the books because that's how much an average financial adviser manages. The same goes for fund managers. Everything I do has logic to it, another unique thing about me is that my left and right brain have equal dominance. That's why I can understand numerical factors as well as charting patterns. I can consider both in equal light that's a talent that people can just dream about. Having left and right brain dominance means that your the perfect candidate for being a financial adviser why? Because you're creatively smart. Your personable to people, convincing, and talented.

I understand your viewpoint and your skepticism, but the simulator correctly conveyed everything I have done. No, I do not manage millions in real life to begin with if I had millions of dollars yes I would have 29million right now or maybe I won't who knows? But I will soon and that's all that matters. Doing all these trades keep building up my chances to make the next big trade. Theirs no end to trading, just because I've done something big yesterday doesn't mean I won't be able to do something big tomorrow. Your committing a fallacy of thinking if you don't think that practice doesn't have any bearing. But, I have both practice with real and fake money.
 
Practice is a HUGE part of success in trading, but practicing unrealistically for your given skill level is just plain cheating yourself. You're trying to be an Olympic sprinter before you can even crawl. There are many other steps in the process that you are leaving out, both physically (in the execution) and mentally

You may THINK you are preparing yourself to make and lose millions but you first need to learn how to make and lose 100's, then 1000's then 10,000's etc etc etc. There is really no point to skipping way head like this as you won't be skipping ahead like this in real life.

Quote from alexandercho:

Ok, the returns aren't as big in my real life account because I never started with a million. I'll admit, but those returns on the simulator are realistic.
So, now your wondering why did I start with a million, because I wanted to explore the pressure of losing 4 to 5 million on a single trade. I wanted to know how fat and ugly it looked on the books because that's how much an average financial adviser manages. The same goes for fund managers. Everything I do has logic to it, another unique thing about me is that my left and right brain have equal dominance. That's why I can understand numerical factors as well as charting patterns. I can consider both in equal light that's a talent that people can just dream about. Having left and right brain dominance means that your the perfect candidate for being a financial adviser why? Because you're creatively smart. Your personable to people, convincing, and talented.

I understand your viewpoint and your skepticism, but the simulator correctly conveyed everything I have done. No, I do not manage millions in real life to begin with if I had millions of dollars yes I would have 29million right now or maybe I won't who knows? But I will soon and that's all that matters. Doing all these trades keep building up my chances to make the next big trade. Theirs no end to trading, just because I've done something big yesterday doesn't mean I won't be able to do something big tomorrow. Your committing a fallacy of thinking if you don't think that practice doesn't have any bearing. But, I have both practice with real and fake money.
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Mate i just want to ask you 1thing.....

What the fuk are you doing man??!! :eek: :confused: :D :cool: :p


Seriously man, you're wasting hours n hours n hours of your life just typing up and posting 100s of cliche phrases and words,
for a bunch of a few random anonymous people to read while they sit in their houses and browse the internet!! :D :cool: :p


What are you actually trying to prove or achieve by wasting your own life doing this,
when you could instead be doing entertaining fun stuff in this same time! LOL


If your a trader then you just do you trading for a living,
end of story.

Its not hard or complex or technical at all...,
its just a normal job like the 10000s of other job catergories out there, that anyone can do/stop doing.


So you honestly are just wasting your time giving what i can really only classify as a cross between a 'sermon and biography' of trading!! :cool:


Which while it may be 'satisfying' for your to publish all these thoughts and feeling that you have,
at the end of the day all that matters is how much cash you make into your pocket each day.

And when it comes down to that no-one on here really gives a toss about anyone else. :)
 
lol good point, it's a waste of time talking to idiots. After all I already have the basics down and I know how to make killings what's the point in talking to people who only know how to shoot small. I'm out, it's to much of a hassle. Also if you want to check my ranking my 12.5million gain today has just been posted. Well I'm out, for today.
 
Well here's my prediction of tomorrow your going to see a flury of activity like usual in the morning. The market will probably break even and the DOW will make 20 pts or a little bit more. Although I welcome a bullish trend I'm skeptical of that after all the foreign markets are slowing the momentum. The markets are currently over bought so chances are you'll see a lot of traders readjust their portfollio's and take their profits.

Now, that doesn't mean you should worry about the trend continuing because over the long term it will. After all we broke a key resistance level from 4 months ago. Also, their isn't enough bad news on the market to cause a sell off either. However, their might be a chance I'm very skeptical, chances are within 2-3 years the markets will most likely recover fully.
 
wow, the markets went down by 30pts so far I was expecting a readjustment but not this much of a movement. However, my apple contracts haven't budged but rather appreciated. After all, apple is very hard to budge because the shares are so expensive. Apple -.06%. So my heavy position is doing good so far :)
 
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