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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Land Shark who wrote (26)6/5/1999 10:34:00 PM
From: TraderAlan  Read Replies (1) of 18137
 
yields,

<With all the MM schenanigans, it's not surprizing that 90% of day traders lose all their capital (or give up) within one year>

Short-term trading has always had a very high failure rate, whether you're talking about the NYSE (with no MMs) or the futures markets. It has never been nor will it ever be a fair or democratic process. That's part of the challenge.

It's not a good practice to blame anyone or anything outside of yourself (don't mean you in particular) for failure in short-term trading. Most traders fail not because of a lack of knowledge or a lack of the fair opportunity to succeed. They fail due to lack of self-discipline, i.e. they violate the rules and goals they set for themselves by allowing gain and loss to cloud their effective decisionmaking.

Alan
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