Why 90% of traders burn out?
- Thread starter fordewind
- Start date
Yup... and then they have the audacity to try to claim on forums that it was all their broker's fault (slippage, hunting-stops) .... yeah, right whatever. Those 90% of day traders blow up due to their own incompetence, the broker needs to little more than just sit there and watch them loose, no need for any dirty tactics (which are banned anyway by regulations in most countries).
Good traders can make money on the B-Book as easily as they can on A-Book. Poor traders will loose money irrespective of their what book they're trading.
A poor workman always blames his tools. The same saying goes for the 90%.
That's because 90% don't study. And 90% of those that do study take the
Saturday-Sunday Course, and then can t wait for Monday to come!
Are you sure?
Why Prop Firms like to hire day traders only?
With your money why not?Plus,there`ll surely be a dangling baseball bat above your head,risk management guys,fixed daily loss,etc,etc....100% prop traders that i personally know blew up.
Oh yes, absolutely sure. The hard facts are there to back it up.
For a start, why do you think B-Books exist ? Its because the firms running them know that 99% of clients on the B-Book will be loosers, so the firm doesn't need to hedge on the real market because there is no real risk, the B-Book will be mostly full of loosers and it knows the losses of the 99% will cover both the winnings of the 1% and the firm's profits.
I suspect you'll find the prop firms won't hire any Tom, Dick or Harry ! I suspect you'll find they do extensive due-diligence on the candidates to ensure they're not about to hire a looser.
And as @fordewind says, if you go work for someone, they'll be keeping a very close eye on you. So even if you do manage to blag your way through the interview, you'll need to deliver the results in a correctly risk-managed manner to keep your seat ! There's no room for dead-wood or risk-takers in those businesses.
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They think they are smarter than the average bear. When they can't even beat the indexes...
NO! There is a Firm you trade their funds. You don't have to pay a cent and with a profit split of 50%. If you have the talent they can increase your funding up to $1,000,000.
What firm is it?
A million bucks with no strings attached ? Yeah, and in other news the Pope has declared he's Jewish and has a Muslim wife.
I suspect that if you read the small-print (assuming you manage to get past the basic interview), you will find the very things both @fordewind and myself have been telling you.