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to make it simple, lets see some real stats:
1. i remember sometime ago on this list someone asked about
who actual been trading for a living ... was it 5 out of
more than 1000 list members (i may be incorrect of the total
#s) ...
2. in Toronto here, there is this technical analysis society,
most of its individual members' most asked question is,
"Can I trade to make a living?" where no answer was ever seen.
But the society keep asking for their membership fee and organize
seminars, etc.
from 1, we have "those who is interested in trading" of about 1000,
comparing to "those willing to response including possible fakes"
of about 5 => then the % is less than 1%
from 2, the one I know of, is obviously about 0%
and finally, everyone I know of who try doing sp daytrade, blow
their accounts in usually less than 6 months, and 9 months top.
NO MATTER WHAT COURSE THEY TAKE, WHAT PROGRAM THEY USE, WHATEVER
THEY THINK.
so, thanks for all those who joined and those who will join the club
of being sucked money out of their pocket :)
to make things a bit easier to swallow, lets think logically,
premises
a. for a reasonable sp daytrader, making 0.5 mil is norm
b. 0.5 mil is about what an establised physician with
specialist degree will make
c. such physician took about 10 years in training and university
study and tortures in all sort of examinations
d. you count the tuition fee of a student of medical school.
conclusion
would it make sense then a sp day trader should have taken some
comparable time in learning and training before getting reasonably
successful in money making, and oooops, i forgot to mention that
the physicians got the chance of learning from textbooks with
working examples, where in trading, all the books out there does
not even provide one single example on daytrading that can
really make money in real time.
-Lawrence Chan
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