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

Quote from mschey:

In terms of absolute dollars yes...but not in terms of % what they make not even close. That Heinz woman made 10 million and paid 1 million in taxes. That's just BULLSHIT! Mean while, hard working middle class families pay in 25 to 50% of what they earn, struggle to make ends meet, and at the end of the year, they have a few thousand bucks, and 15k in equity in their homes.
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Against which they've borrowed $30k on a home equity line of credit. Consumer debt is massive. Most Americans are one paycheck away from financial ruin. Twenty percent of the population has no health insurance. Modern health care has made it likely to live to an age where your quality of life is nill and you are going to need to live in a nursing home, but nobody can afford to pay for it and the government won't kick in until all of your assets are GONE. Individuals can't file bankruptcy, but corporations still can write off hundreds of millions. Why is it irresponsible for individuals to file bankruptcy but when corporations do it, that's just to help them get on their feet again? This really is a strange society we live in.

Chuck
 
J, I agree, but with any profession, you need theory and training before practical application. If one had attended BMW training then the chances of a successful rebuild would be much higher. The same with trading.

The Ever Educating VIPER
 
Quote from TradeViper:

Why do traders fail, try this.

You know what, some times the successful traders are the most unlikely. They usually have a high level of intuitive intellect, and a very strong ability to put their trading into perspective. As one famous CME trader told me once, "if you are in a trade and you have set your stop and take profit, as a professional, you should be able to walk away, and not even think of the trade, staring at the screen will not change the outcome". That is the perspective that all traders must have, and few achive.

Anyway my thoughts from the VIPERPIT

The Ever Grateful To Don For His Input VIPER
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I have to agree...I have been surprised (amazed, even astonished) by certain traders who I would not think will make it. We have people with us for years that are soooo consistent and highly profitable that it seems uncanny....but if you were to run into some of them in a social setting, you might not think they were capable of carrying on a conversation, LOL. Goes both ways, many who "should" be naturals, just don't ever seem to "get it".

(Not sure if you were referencing me or not, but if so, thanks, if not "never mind", LOL).

Don
 
Did allowing women to vote, state by state in the U.S., cause a demonstrable rise in inflation?
I never wrote that. That was your argument with somebody else.
You have to go back post by post to find out why I said what I said.
 
Quote from Cesko:

Did allowing women to vote, state by state in the U.S., cause a demonstrable rise in inflation?
I never wrote that. That was your argument with somebody else.
You have to go back post by post to find out why I said what I said.
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You just agree with RM and mention some irrational anecdote about the Swiss. But nevermind, I somehow doubt you have much of an intellectual ability to form a coherent argument in the first place.
 
Yes Don B. I was referring to you :D

I have a humble request, could the suffrage guys take their discussion to the political area of the boards. It is hard for an old geezer like me to follow the original thread like this.

The Ever Respectful VIPER

:D
 
Quote from DHOHHI:

Why do 90% of small businesses fail? Lack of a good business plan ... poor marketing ... undercapitalized ... poor service ...

Traders lose for some of the same reasons ... undercapitalized ... lack of discipline ... poor money management skills ... poor work ethic ...

Why are people allowed to go to Vegas and lose $$$? With your logic they should take some training in how to play blackjack or any other "game" they want to play. Why are people allowed to buy lottery tickets week after week? It's a choice ...
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businesses fail too because the market will only accomodate x number of pizza shops on one square block. the best ones will survive, and the others will drop out.
the stock market is much more dynamic than that, and able to take an increasing number of traders and investors.
 
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?
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They are many who are just plain A-D-D-I-C-T-E-D
 
Quote from reid5525:

businesses fail too because the market will only accomodate x number of pizza shops on one square block. the best ones will survive, and the others will drop out.
the stock market is much more dynamic than that, and able to take an increasing number of traders and investors.
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However, it doesn't just "take" them; it churns them. Hence the seemingly endless supply of failures.
 
Quote from retardant Metal:

Are you kidding me?!
Can you come up with a question any more <i>female</i> than that? Women generally think that the proper role of government is to <b>mother us all.</b> e
?"
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THAT is another sexist comment...YOU DON'T KNOW THE FIRST THING ABOUT WOMEN...

The first thing you need to know about women is you CAN NOT generalize about women.


edit...sorry it was spell check that came up with retardant...but I did think it was funny:p
 
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