Bob,
For a person who says they are a computer network consultant and mathematician, I don't know how you've become such an expert on daytraders.
I don't know if everybody makes a six figure income. I'm sure a few do and quite a few don't. But, you seem to be confusing daytrading with regular long-term investing.
I don't have an enormous amount of time to respond, because I'm trying to install NT on my system. However, you begin by saying a trader should only risk 10% of their equity. What makes you think a daytrader who has a $50,000 trading equity has no other money?
Remember, daytrader has the word "day" in it, which makes it the less risky of all investing, providing the trader is disciplined to taking small losses.
I've followed a few of your gloom and doom messages and wonder what your real intentions are. Sure, some people get into daytrading and lose money. Money failures are everywhere. What percentage of start-up businesses do you think fail every year? More new businesses fail than succeed. Should everybody stop trying new business ideas? Of course not, it just means you have to be aware of the risks and, more important, know what leads to success.
I am new to this but have had many traders private message me with perceptions (none have any reason to lie in a private message). Yes, daytrading is risky, yes it takes discipline, but, also, yes there are many successful traders.
Brent |
