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I realize that the 90% figure for business has been thrown around so
much it is laid in stone. I read an article about this some time ago,
do not remember where or by who, but the real figure is no where near
that %.
Also a new business or artists or musicians, I doubt many fail in 1 or
2 day or a month. When these day traders loose their capital they are gone.
I do not believe you can compare apples and pears.
Norman E.
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
> :>
> :>
> :
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