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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: OZ who wrote (7949)	4/22/2000 11:42:00 PM
From: Jon Tara	Read Replies (1) \| Respond to of 18137

No, it is even MORE true at a macro level - trading and investing are NOT zero-sum games! I think it's amusing that the same argument is being used to foster two dillusions - 1. that most traders lose money and 2. that those that do make money must be extrodinarily talented. I get a chuckle that so many people think they are getting away with winning at gambling (which is impossible, over the long-term) when, in fact, they are participating in a wealth-building process. How much better might some traders performance be if they could substitute a model that is both more positive and more realistic for the flawed (and absolutely incorrect) zero-sum model? I think one reason may be that many traders fear that were that the case - were it not a zero-sum game - that that might prove that they'd be better-off as investors, and that they are wasting an awful lot of time and effort. I don't believe that that is true, because markets are NOT entirely efficient. There is very significant intertia in the system that can be and is taken advantage of by traders.