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Strategies & Market Trends : DAYTRADING Fundamentals
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To: jaybiegh who wrote (11017)12/18/2000 6:44:43 PM
From: TheStockStalker  Read Replies (1) of 18137
 
LPS5, using the much bantered number of only 10% of active traders being profitable, would you say that most of that 10% are former firm/professional traders? Are all the profitable traders ones who learned by your suggested path, or is success merely unlikely by another path.,

In my experience the percentages that are typically thrown around are based from retail trading account statistics. I think that even if you go to a GOOD retail trading office and try to learn from the better traders there you are much better off than learning at home by yourself. At my prop. trading firm (which I will not mention here) the success rate is much higher than the numbers you say. I will go out on a limb and guess that over half of our newbies either already are or soon will be profitable. To say "it is the only way to go" was just a cliche, but to say it is "indisputably the best way" to truly learn is easily quite true. What city are you in by the way???

PDT
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