Why Do People Trade when the Failure Rate is So High?

For the same reason people buy lottery tickets week in and week out!!!!!!...........


OF COURSE NNNOOOTTT...there should be no certification or ANY regulation.......its my money......just like taxes.....it's my money.....why should some bureucrats and left wing liberals and tree-huggers have a say on how to "waste" my money......
 
Quote from stockgirl:

If +90% of people fail at trading then why would anyone risk trading any type of investment vehicle when the odds are stacked against the average retail investor?

Also, should retail investors be allowed to trade stocks without some type of certification or training?
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A. I don't buy the 90% failure rate. If you're counting every single person that opened up a 2K account and went bust, never to trade again, then yes, it may be 90%. I wouldn't count those people at all. That's akin to someone taking the time, and spending the money to write a business plan, not being able to find funding, and giving it up. They never really started. There are more still that make "some" money, but not enough to justify the time and effort in their minds. Again, I would not count those as failures.
Certainly, the odds against real success are high, but a 90% failure rate is an old wives tail in my book.
B. Should certification be required? NO! HELL NO! We have enough regulation by people trying to protect us from ourselves. Anyone suggesting more regulation than there already is should be beat with a tire iron.:D
 
Quote from CaptainObvious:

A. I don't buy the 90% failure rate. If you're counting every single person that opened up a 2K account and went bust, never to trade again, then yes, it may be 90%. I wouldn't count those people at all. That's akin to someone taking the time, and spending the money to write a business plan, not being able to find funding, and giving it up. They never really started. There are more still that make "some" money, but not enough to justify the time and effort in their minds. Again, I would not count those as failures.
Certainly, the odds against real success are high, but a 90% failure rate is an old wives tail in my book.
B. Should certification be required? NO! HELL NO! We have enough regulation by people trying to protect us from ourselves. Anyone suggesting more regulation than there already is should be beat with a tire iron.:D
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please don't beat me with a tire iron, i was only curious to see how people felt about it :)
 
Quote from stockgirl:

please don't beat me with a tire iron, i was only curious to see how people felt about it :)
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LOL! I wasn't suggesting a beating for you, but I think I made my feelings clear.:D
 
Quote from stockgirl:

please don't beat me with a tire iron, i was only curious to see how people felt about it :)
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I feel like you should post a picture...we'd like to see if you really are a woman. I don't know many women who know what a tire iron is.
 
I guess for the same reason people gamble at casinos, potential to make quick cash.... and you cant even game the casino and people still go. Go figure.
 
Quote from niceneasy:

because jobs suck
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i know a job where all you have to do is read some howtos and figure stuff out and put it together. you then make over 100K/yr
 
Quote from mschey:

I feel like you should post a picture...we'd like to see if you really are a woman. I don't know many women who know what a tire iron is.
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you said "many women", so you must must know of at least one woman who knows what a tire iron is...shame on you for stereotyping women traders :eek:
 
Its probably best to compare trading to acting. Ever watch the actors studio? Look at that audience. Now look at the audience looking back at that actress / actor on stage. Pure envy. Most of them are paying 30k a year to aspire to be the next owen wilson or rachel mcadams ( wedding crashers actors ). How many will achieve that role? Most will end up doing nothing remotely resembling acting. The great thing about trading is no one cares what you look like.

In engineering, only 1 in 5 trained engineers end up doing anything engineering related 5 years after graduation. They move on to business and marketing roles. How this relates to trading, in that the role is often reserved for those flexible enough to grow in a company.
 
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