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"I have been in this business for well over ten years and have never met
anyone who I
know is successful at trading."
"Then why are you trading??"
Brokerage houses always tell brokers that "nobody makes money in futures
markets". They train their "salesmen" to raise equity (preferably for
funds). Zero sum minus "cost of doing business" is a tough game to beat.
Glen said he was in the "biz", not necessarily a trader. For every 40-50
commodity brokers I've worked with, maybe 1 had a successful approach for
trading and only a few of those had the ability to manage the risk or
follow their own trading rules. Successful commodity brokers, (I'm not
talking about great phone jockeys who raise huge sums of equity, only to
regurgitate it as fast as they raise it), go on to become CTA's or private
traders. Unsuccessful brokers tell everyone that: "I never met anyone
who..." That inherent philosophy doesn't stop them from extracting money
from the "public's wallet".
Steve Karnish
CCT
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