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> From: scot billington <scot.billington@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Why do we go broke/lose more than random?
> Date: Thursday, October 02, 1997 11:44 AM
>
>
>
> In the long run the costs actually break us bringing a lot of blame on
the
> broker.
> Scot Billington
>
People trade of their own volition. Brokers have no special power or
authority to compel people to trade. In fact, it is my experience that in
all too many instances there is absolutely nothing a broker can do to keep
people from self destructing. It is fear and greed, and a general lack of
self knowledge and control that ultimately causes traders to lose their
money.
Trading is a business. Most businesses of any sort fail. All businesses
have costs that if eliminated would increase the probability of success,
but controlling costs is part of the puzzle. Traders have the opportunity
to shop for lower costs (commissions and fees) and the level of service
necessary to facilitate their trading.
Regards,
Tom Alexander
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