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on the other hand, so do 90% of artists, musicians and most new businesses.
i'm not real sure this statistic has much relevance.
dan
-----Original Message-----
From: Norman Phair <ericrogers@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, April 01, 1999 1:59 PM
Subject: Re: Bull Market
:I have heard figures as high as 90% of the people that do day trading
:fail. No work, no reward.
:
:Norman E,
:
:> "Peter M. Beckwith" wrote:
:>
:> Great post, Ira.
:>
:> Not only are there more on-line trading commercials than beer and auto
:> commercials, but the content and substance of these commercials is
:> completely off-line. The firms that sponsor these commercials hire
:> teams of lawyers to settle suitability of investment lawsuits and
:> arbitration suits all them time from people who lost their shirts(not
:> to mention their homes) after daytrading on the internet for a couple
:> of months. You would think that after all of the horror stories out
:> there about people who didn't understand what margin was or that if
:> the stock goes against you x percent you have to meet the cash
:> requirement, the firms themselves would take a more responsible
:> stance. Instead, most of us who keep CNBC on in the background have
:> to watch an Ameritrade commercial about a mom and housewive who can
:> take the kids to school and throw some money in a biotech company to
:> the tune of $1700/day or the guy who owns his own island, etc...
:>
:> I don't know what we are going to see with this market, but one day(I
:> hope) we can look back and just laugh at how absurd those commercials
:> really were. I am hoping it is sooner rather than later and then
:> maybe, just maybe the public will understand that trading is a
:> profession, not a hobby that you take up in your spare time...
:>
:> Pete Beckwith
:>
:>
:
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