|
PureBytes Links
Trading Reference Links
|
-----Original Message-----
From: Ira <ist@xxxxxx>
To: Dtrader <dan@xxxxxxxxxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, April 01, 1999 2:42 PM
Subject: Re: was [Bull Market]
The statistic has little relevance, the
:hustle does. They are preying on the naive and the innocent.
so what else is new? and what's that got to do with the fact that day
trading is not "no work" [as norm implied].
yes, I agree there are many unscrupulous characters floating around TV and
magazine and newspaper ads.
I was reading a web site the other day where a well known indicator huckster
[whose thoroughness in TradeMarking his wares is only matched by his
bravado] claimed that George Soros was one of his customer. really.
:Dtrader wrote:
:
:> 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
:> :>
:> :>
:> :
:
:
|