Welcome to AlphaDayTraders!
The saying goes: "Those that can - do, and those that can’t -
teach". About a 90% of those who start a trading business fail. Is this failure rate due, in part, to those that can’t? Is
it a matter of education?
Many beginning traders come from professional backgrounds. They are doctors, lawyers, engineers, programmers, statisticians, mathematicians, psychologists or come
from various types of demanding career fields. They are successful people. Some are the very best in their line of work.
So… why the high rate of failure?
Clearly intelligence is not a factor. Is it lack of discipline? Perhaps for some, but it seems unlikely that individuals able to achieve such career success, would be
so lacking in discipline. My reading and observations tell me the deciding factor
is almost always one of resources. Trading businesses fail because they run out
of available funds. There are an infinite number of trading techniques and approaches
that vary from a set of customized indicators you apply for yourself, to "Black Box" computer programs that take data and
spit out buy and sell instructions. The bottom line is - many traders simply
exhaust their resources before finding what works for them.
This
brings us back to education. Are the 10% of traders that succeed the only ones
that take the time to get an education? I think not.
I believe
the reason for failure in most cases is the lack of a proper trading education. Otherwise
why would someone who has paid for a trading education have to continue searching for his own solutions? Are those that pay for mentoring and seminars only 10% of prospective traders and therefore accounting
for the 10% success rate? If there are people teaching an effective way to trade, surely word of mouth would eventually reach
the struggling trader, especially one that frequents trading chat rooms and reads the many trading periodicals.
Join us in
the Mirc “Prtotraders “ chat room and possibly
find a better way there. Follow the links above and below for instructions for using Mirc.
Sincerely,
Ramiro
Zamudio, Aka London
"Protraders"
chat moderator
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