A message to those that constantly complain

Discussion in 'Trading' started by intradaybill, May 17, 2011.

  1. Trading is no different than any other profession in terms of investment and knowledge required to succeed. It differs only to the extent that performance is measured real-time.

    Like when you open a restaurant you have to invest a lot of money, also in trading you have to make an initial investment. You have to invest in education and tools.

    It takes about 5 to 7 years to become proficient in this field. It is not different from learning a foreign language. Try to learn Russian and you won't be able to speak without making significant mistakes before 5 years of hard work.

    Now, this is the case: 95% of traders lose because the other 5% who pockets their losses has done the hard work, has made better investments and has better tools.

    This is no different than the fact that 9 out of 10 new restaurants fails because just one of them attracts all the customers. Its owners have done their homework and the hard work.

    Many people think they are smart enough to win the money of other traders by just looking at screens and charts, without having made significant investments in tools and education. This will never happen. At the end, you get out of trading in proportion of what you put into it in relation to others. The ones that work harder make the money.

    Thus, 95% of traders lose because on the average only 5% are willing to do the hard work and the necessary investment to win.

    If you lost money trading it simple means you have not done your homework and/or you have not invested in education and tools.
  2. Tsing Tao

    Tsing Tao

    It's not just education and tools. Sometimes it's also "connections and money".
  3. Do you have something illegal in mind?
  4. +1 seems that there has been more than usual number of
    "Daytrading is impossible" threads lately.

    It's like sitting in front of a slot machine at the casino, you're going to lose! Learn to count cards or find a way to win with statistics to back it up!

    Some people are so addicted to slots that they will not leave their seat, they will piss their pants in order to keep their machine. Now if you're counting cards then maybe this would be acceptable :) Just where depends
  5. jokepie


  6. trading is a lot different than MOST professions.

    most occupations allow for even the inept to make a living.

    there are NO inept traders making a living.

    get real, and stop talking nonsense
  7. I've seen very few people succeed just due to perseverance.
    If you haven't made a profit within 6 months, or don't at least see a light at the end of the tunnel, then give up.
    (If you've got a trust fund then by all means keep the hobby up for 5-7 years)
  8. Not everyone is capable of becoming a surgeon, a top physicist, an nfl qb, a Nasa engineer,,,etc....a successful trader.
    Most folks (99% on ET) are simply not cut out for this they do not have the NATURAL born inherent skills, abilities and intellectual capabilities.
    The barriers to entry are practically non-existent as you can see the numerous morons on here with only $5000 or $10,000 trying to trade. That is because they have failed elsewhere and have little money and no skills that an employer wants. IE no head hunter is looking for them and calling them up offering them a $100K+ job offer. They're Too lazy to work and are attracted to trading thinking they can make a quick easy buck sitting in their underwear scratching themselves. These same individuals may explore and make an attempt at gambling like online poker or some such similar pursuit.
    They will never succeed as traders. It is inevitable that they fail. They simply do not have the natural born skills and abilities. Trading is not something any high school dropout with a jr. high intellectual capacity can master. It's just not going to happen. Being a successful trader is not something that is easily acquired. You have to have an inherent NATURAL ability.
    The world needs bar tenders, janitors, burger flippers etc and once they have lost their capital they will find themselves in suitable employment mowing a lawn perhaps, or washing dishes or cars etc. Just look at the average spelling and writing skills on here. Would you think their math skills or analytical skills or knowledge of economics or finance is much better?
    The markets do need fodder for the cannons though.
  9. elon


    However, it is a KEY ingredient to success in this field.
  10. There are so many moronic posts in this forum -just wanted to say that I do agree with the last two posters.
    I think that being fantastically stubborn is a key ingredient to being a a successful trader, but there are many more qualities needed.
    #10     May 17, 2011