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

To: Land Shark who wrote (26)	6/5/1999 10:34:00 PM
From: TraderAlan	Read Replies (1) \| Respond to 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