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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: dpl who wrote (2773)	2/2/1998 6:47:00 PM
From: Eric P	Read Replies (2) of 12617

David: <<Richard,the odds may be 10% for all that try to trade but it does not mean it is 10% for "you" or "I". Saying so implies that trading is random... Trading not only is not random but has a high skill level. >> This sounds a bit dangerous. Assuming that 9 out of 10 daytraders fail, I'll bet that at least eight of them believe they will be in the exclusive 10% that succeeds. There is value in recognizing that 90% of daytraders fail (assuming this is accurate) This put things into perspective and helps us all to realize how focused and dedicated we must be to succeed. Success is not even close to a "Gimmee." Each new daytrader wannabee should ask themselves: Am I smarter, more dedicated, harder working, more disciplined, etc. than 90% of the other daytraders getting into the market? If the answer is no... Stick with position trading and mutual funds. My best piece of advice to all: 12 days 'till Valentines day. Don't forget or sleep on the couch! Happy Trading, -Eric

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