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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TraderAlan who wrote (6318)1/30/1999 10:33:00 AM
From: Jay Morrison  Read Replies (1) of 12617
 
<<The failure rate for very short term trading always has been, is and always will be very, very high. Probably over 90%. But profit pool for the other 10% has to come from somewhere.>>

According to the survey reported on CNBC, of traders in their first 3 months, 42% were profitable, 58% lost money. For traders in their second three months, it was about 50% for each side. For traders after that, the majority, 60%, were profitable. Clearly there was a learning curve. The unprofitable ones clearly drop out over time.

Moral of the story, if you survive for 6 months and are making money, you clearly have what it takes.

Also, your comment about needing the 90% losers for the 10% of winners to make their money is inaccurate. In futures and options it is a zero sum game, but stocks have true growth and value creation. We don't need that ratio of losers in order to make money.

Jay

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