Why Do People Trade when the Failure Rate is So High?
- Thread starter stockgirl
- Start date
Time, lots of time. Patience in abundance. Never trade until you are ready to trade.
Listening to pessimistic assholes who bathe in envy- but are really screaming" I CANNOT DO IT SO NEITHER CAN YOU."
Maybe other restrictions like lack of focus- lack of committment to learning - lack of investment of time and money( too cheap to buy books and simulators, timely and focused news feeds- want it all for free).
Another reason is they might take a dive just to discredit trading and discourage others from attempting , making them quit earlier than they might have and then posting things like ...well after 5 years my system stopped working...(they're saying that to discourage others)
I have been at this for a while and when I say it takes years of observation as an amateur(that is with no professional coaching) I am not overstating the importance of the amount of time. Some people want success in a few months- eventually they'll get burnt- it takes years. Maybe others want their gains to be huge. Its the consistent small gains that do well over longer periods that last through the years. I've even heard of some that will only go long- you have to be willing to go short when the opportunity arises.
And just a tad of advice to the younger set - while you are taking time to learn about trading-learn about accounting, business,economics,technology..pursue these things simultaneously and show everyone to the door before you start. Follow your heart in regards as what is right for you not what is right for others.
Listening to pessimistic assholes who bathe in envy- but are really screaming" I CANNOT DO IT SO NEITHER CAN YOU."
Maybe other restrictions like lack of focus- lack of committment to learning - lack of investment of time and money( too cheap to buy books and simulators, timely and focused news feeds- want it all for free).
Another reason is they might take a dive just to discredit trading and discourage others from attempting , making them quit earlier than they might have and then posting things like ...well after 5 years my system stopped working...(they're saying that to discourage others)
I have been at this for a while and when I say it takes years of observation as an amateur(that is with no professional coaching) I am not overstating the importance of the amount of time. Some people want success in a few months- eventually they'll get burnt- it takes years. Maybe others want their gains to be huge. Its the consistent small gains that do well over longer periods that last through the years. I've even heard of some that will only go long- you have to be willing to go short when the opportunity arises.
And just a tad of advice to the younger set - while you are taking time to learn about trading-learn about accounting, business,economics,technology..pursue these things simultaneously and show everyone to the door before you start. Follow your heart in regards as what is right for you not what is right for others.
Just who would provide this certification and training?
Governments? Their interest is in power, control, and compliance - this is the Series 7 which teaches absolutely nothing about how to trade successfully.
Academic institutions? Their models such as CAPM and those used by LTCM have certainly shown their worth.
Other traders? Why would they want to teach others to be competitors?
Why should someone else - the government, SEC, your parents, your spouse, god - have to give their permission and blessing?
How far should protecting people from themselves be taken?
Governments? Their interest is in power, control, and compliance - this is the Series 7 which teaches absolutely nothing about how to trade successfully.
Academic institutions? Their models such as CAPM and those used by LTCM have certainly shown their worth.
Other traders? Why would they want to teach others to be competitors?
Why should someone else - the government, SEC, your parents, your spouse, god - have to give their permission and blessing?
How far should protecting people from themselves be taken?
lol the answers very simple. all invision themselves sitting on there butt making a fortune. there's no employee's , little to no overhead and you're your own boss. best possible job if you can make it. but the real answer is low barrier to entry. look on here 90% of the people are trading with 5-10k. even back in 99 you ahd to have 25-50k. there's more traders today than the 90's because of the 5k gig
Stockgirl,
Who are you? If/When you publish are you planning to give credit or ask permission?
Per your research questions: People would rather the (potentially slim) chance at wealth in exchange for the (potentially high) chance at failure, than to be told to sit down and behave. Honestly, human life itself has a 100% failure rate. Yet, doctors and surgeons still do their best to try to beat the odds.
I do support education in both areas. A potential trader or investor should know the risks that lay ahead. A potential patient should also know the risks that lay ahead on the operating room table. I would never tell someone not to bother with a surgery because it has risk. I would tell them to analyze the risk versus reward. The same advise is given to traders and investors.
-Raystonn
Who are you? If/When you publish are you planning to give credit or ask permission?
Per your research questions: People would rather the (potentially slim) chance at wealth in exchange for the (potentially high) chance at failure, than to be told to sit down and behave. Honestly, human life itself has a 100% failure rate. Yet, doctors and surgeons still do their best to try to beat the odds.
I do support education in both areas. A potential trader or investor should know the risks that lay ahead. A potential patient should also know the risks that lay ahead on the operating room table. I would never tell someone not to bother with a surgery because it has risk. I would tell them to analyze the risk versus reward. The same advise is given to traders and investors.
-Raystonn