DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: TraderAlan who wrote (4832)	10/11/1999 6:16:00 PM
From: Dan Clark	Read Replies (2) of 18137

Alan, Great post! Dead accurate on all points. On one specific point, many of these writers on the payroll of the traditional financial institutions (yes, they are just shills) continue to stress the point that 80% of people lose money in their trading "job". They fail to understand that trading is NOT a job; it's a business! Most businesses are in a very competitive marketplace! You have to work very hard start a business. You have to spend lot's of time learning the ropes. Many times you have to pay for different types of services and purchase assets to run your business. And about 80% of start-up businesses lose money and/or fail in the first few years!!! A trader is an entrepreneur - in business for him/herself. Just like any other entrepreneur, the trader gathers capital, buy "stock" (sorry for the pun) and try to sell it at a profit. Traders pay for services like news services and data feeds. Traders buy assets like computers and set up their own offices. It's very difficult and most traders spend years learning their business before they are successful. And 80% of the traders lose money and/or fail in the first few years. What's the difference between an entrepreneur and a trader? I don't see a lot. It's amazing that they media and some politicians try to present themselves as being concerned about the welfare of the investing public. Bull! What we have here is nothing more than the archaic, old-line snake-oil businesses getting their heads pounded by the new, entrepreneurial competition. AND, THEY CAN'T STAND IT! It's time that the politicians realize that they are NOT protecting investors, they are supporting one inefficient business to detriment of another, more competitive business. Regards, Dan.

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