82% daytraders lose and the profitable ones make less than a monkey throwing darts

Came across a very interesting article today ....... which basically says 82% of daytraders lose money on a consistent basis year after year and even the profitable ones make less than Raven the monkey ....... in case you didn't know Raven the monkey is somewhat like Paul the octopuss who had a great deal of success predicting winners at the recently concluded football world cup.

the article concludes



read the entire article http://wallstreetwarzone.com/the-mor...less-you-earn/

..... its an interesting read

Last part was interesting read:

"The truth is, they’re addicted to losing. The pros know this, so they can take advantage of the wannabe traders never-ending delusional “winner’s fantasy.” And the game goes on ad infinitum, with the pros having a big laugh as they rake off big fees and commissions and get rich off the 82 percent of all traders who are repeat losers."

Just thinking out loud. Name any skilled trade; what are the odds of success for anyone starting in that direction? What percentage will persist for many thousands of hours paying their dues? It sounds like day trading stock must be relatively easy if over 20% win.

Hmmm..Paul Ferrell's "Wall Street Warzone"....hey wait a minute, isn't Paul Ferrell that guy who says a massive upheaval is near?

http://www.marketwatch.com/story/doo...ets-2010-10-19

...among other articles...

Jeff

Check out Mark D. Cook a professional Daytrader for over 30 years . He is so successful he has a open challenge out to any trader to a trading contest where winner takes $1,000,000 prize money. So far there have been no takers. At this point in his career , he has some MONTHS of making a $1,000,000 . So there are daytraders out there that make money . Mark is just one example . So if 82% of daytraders lose money they are way ahead of the 95% of other traders that lose money trading longer timeframes or holding positions for days or weeks at a time . Something to think about .

Best of trades ,

EZ

Ferrell? Really?

I used to read MW (way too much), that guy has printed one article in 10 that doesn't use bullet points or an action/thriller movie analogy.

Oh....and don't forget, according to him the world (financially speaking) should've ended shortly after each article he's presented, for the reasons contained within.

Hell, at least ZH provides some interesting stats if you wanna put on yer tin foil hat.

Pulp-finance. That's what it is.