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Nick
I am curios how often you sell short if at
all.
I find some are leery of doing this.
I done some studies with software testing over the past 30 years
and "long only" you could probably do 10% better than the
market.
Regards Martin
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Nick Leong
To: <A
title=Metastockusers@xxxxxxxxxxxxxxx
href="">Metastockusers@xxxxxxxxxxxxxxx
Sent: January 15, 2003 7:29 PM
Subject: [Metastockusers] Full time
private trading... ... an unattainable dream?
Hi group,
I’ve been reading some articles
about the hedge fund management industry and how most funds sustained losses
over the past 2 years especially since Sept 11 and the US corporate scandal.
This is coupled with a statistic I read that most novice traders leave the
trading arena after about 3 months. These events really got me thinking… … is
it really possible for one to be a full time private trader?
I’ve been trading privately for
about 4 years not and like most of you I’ve had my ups and downs. I am a firm
believer that trading the market is a zero sum game. Someone MUST lose in
order for me to make a gain. However, the law of averages dictates that it is
just not possible for anyone to be winning all the time. That being the case,
is it actually possible for anyone to be a full time private trader (i.e.
trade using only his own money and make a living out of it)?
The only possible way for one to
make money is possibly to be engaged in the right market at the right time,
e.g. to switch between the equities/futures/derivatives markets or switch
between the US/Europe/Asian markets. But we must also remember that a private
trader does not have the resources or the mental capacity to handle so much
information or research at a single time. What option would be left then? To
specialise and trade only in specific markets and sit things out when
everything is not going well? Do not forget that a downturn in the market can
last for years.
We can go into the nitty gritty
and say that we must set up stops to prevent losses, but I’m sure most of you
have been in the situation where you were stopped out too early or you had
given so much room before being stopped out that you suffered a painful loss.
Don’t get me wrong, I believe that trading and investing is an art and there
is no one mechanical way of getting the right results. Ultimately, we are all
looking for one thing… …PROFITS. However, I have come under the increasing
impression that the odds are severely stacked against the private
trader.
I look forward to hearing from you
guys on this matter.
Thanks.
<SPAN lang=EN-GB
>Nick
Leong
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