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> 3. In your opinion, what percentage of day traders routinely outperform
other investment strategies? What percentage blow out their account and suck
their thumbs?
> - Mark Jurik
Just an intrusting fact: Recently I was talking to the largest electronic
futures trading company big wheels in the US and I was told that the average
account 5000 to 15,000 that was opened up to daytrade the e-mini SP. Closed
due to debit or was inactive because of a lack of funds within 4 to 6 weeks
of the account being opened, never to be refunded or traded again. Draw
your own conclusions, one firm I talked to admitted to blindly following a
well known system through 22 losers in a row! Even I would have had a hard
time with following that one. First of all I would never have accepted a
system that had stats like that, and if it didn't previously show stats like
that then I would have been very suspicious when this long string of losers
happened.
What we have here is an evolving industry where everyone looks the same on
the surface. However time has a way of rewarding the less prepared,
sometimes quickly 4-6 weeks, sometimes it is slow and drawn out. The facts
are that many could learn to trade profitably if given enough time and
money. Some however could never learn to trade no matter how much time and
money they had.
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