Why waste your time?

Euler09 said:
...So if they knew that their probability of becoming rich from trading was essentially zero and at BEST was that they would make a living wage would they be OK with risking their life savings? ...
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It seems you are making a lot of assumptions here, such as that the majority of people who go into trading know that 5% statistic in the first place, among other things.

You are starting to sound like someone who has lost money doing this, maybe more than once, and are lashing out in a non-specific or non-committal way. Just a guess.
 
You just have to find something that makes money and keep doing it....until it doesn't.

For example, buying the dips in the es seems to have worked for years. If all traders just did that and nothing else, it would be 100% profitable traders!
 
You talk about assumptions and then make the assumption that I must be a disgruntled losing trader, which is ironic or interesting? Anyway whether they know of the 5% statistic or not does not matter that much. they know most people don't make money trivially, if they have any awareness.
 
Euler09 said:
...they know most people don't make money trivially, if they have any awareness.
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That is another assumption.

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You are starting to sound like someone who has lost money doing this, maybe more than once, and are lashing out in a non-specific or non-committal way. Just a guess.
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This is not an assumption, it is a guess. Did you see where I typed that?
 
Back in the day people equated having a job on Wall Street as being a stock broker. People could not buy stocks without buying through a broker. But the wonderful thing about being a broker was that they win either way. They make recommendations and If the client loses money they still get commission...
 
Euler09 said:
Back in the day people equated having a job on Wall Street as being a stock broker. People could not buy stocks without buying through a broker. But the wonderful thing about being a broker was that they win either way. They make recommendations and If the client loses money they still get commission...
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We know this?
 
I had a rough patch a few months back, got very very near quitting, nearly took the account and bought a nicer car, but remembered the few times my profits have bailed me out, so kept going, and making profits again and bailed myself out last week, only small, but it's damn handy to have as a back up.

I'll never be rich, like spending it too much :)

It's more of a hobby I'd like to take full time, but fills in the bored moments during the week, which it was 24/7 weekends suck without it.
 
Yes. I assume that
Overnight said:
That is another assumption.



This is not an assumption, it is a guess. Did you see where I typed that?
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The majority of people can realize that everyone is not getting rich betting on stock. Poor assumptions on my part...
 
Euler09 said:
You talk about assumptions and then make the assumption that I must be a disgruntled losing trader, which is ironic or interesting? Anyway whether they know of the 5% statistic or not does not matter that much. they know most people don't make money trivially, if they have any awareness.
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Hey, if you want to talk odds, think about what the odds are that a college dropout with no programming experience could create a multi-million dollar online community for traders in 1997 and attract a who's who list of industry sponsors and keep everything running smoothly for 20+ years? I can assure you the odds of that succeeding are way less than 5%, but you know what, I DID IT. :D

So it's not about what the generic odds of failing are. It's about what the odds are that you're personally going to say to yourself, "I Quit". For me, the answer is always the same: "Never".
 
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