Impossible to make a successful career trading

Starting a new thread at the recommendation of the moderator.

I think this sums it up nicely:

http://www.investorsinsight.com/blogs/thoughts_from_the_frontline/archive/2009/08/07/six-impossible-things-before-breakfast.aspx

quote:

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Originally posted by jimkane

I think this sums it up nicely:

http://www.investorsinsight.com/blogs/thoughts_from_the_frontline/archive/2009/08/07/six-impossible-things-before-breakfast.aspx

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The Bible never said the sun revolved around the earth. As the article said

The sun appeared to the Israelites over Gibeon, and the moon over the valley of Ajalon, and there they appeared to be stopped on their course for one whole day. Is any thing too hard for the Lord? forms a sufficient answer to ten thousand difficulties, which objectors have in every age started against the truth of God as revealed in his written word.

You know its fascinating to me how atheist's whom are so convinced that God's not real and the bible is a lie has to tell every one every chance they get for thousands of years now...

NASA did a study of the projection of where the moon might be when they were making a decision
to send a man up there (for what ever reason). They used computer projections from thousands of
years back, and found 24 hrs. of time missing.

JOSHUA 10:12-13....humm

yeah red,

Joshua 10:12-13 its just a phrase "the sun stood still"....like that "SUN set" is beautiful. I guess atheists/after the fact economist say thats a beautiful earth set LOL

Super giant Sir Isaac Newton summed it up well when he said "Science is to give and show the glory of the Creator God" We have come a long way to now they use science to try and disprove God and the Bible.

Hmmm, maybe we need a 'God vs. the evil atheists' topic in the forum? I guess I was hoping for more discussion on EMH :-)

Let's keep this topic focused ladies and gentlemen! Thanks!

You ought to know by now I don't make frivolous comments. If I cant' see it and you guys can, then probably an IE setting / Flash setting or something. I'll see if I can pull it up

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Originally posted by bakrob99

Yeah that's right Martinez... nice try !! (PS.. login and you'll see it)

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Okay so here's the thing. The mistake you guys are making is thinking that if someone has a "successful" trading outcome, it is due to that person's skill.

No it isn't. The number of traders who score big or end with a positive P&L falls within the realm of chance. This means that skill does not play into it at all.

I would imagine there is quite a bit of merit to EMH. Its probably accurate for, like, 80% of the picture and gets it wrong on 20%.

quote:

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Originally posted by jimkane

I think this sums it up nicely:

http://www.investorsinsight.com/blogs/thoughts_from_the_frontline/archive/2009/08/07/six-impossible-things-before-breakfast.aspx

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Some thoughts on this...
I have chatted with a handful of successful emini traders.
The reason VERY few people hear/see/meet these traders is this:
Their broker can't let out any info on them, by law. They're insulated from the general populace by virtue of the fact that they're not on TV.
And I can't say for sure, but I'd bet the vast majority of successful traders aren't touting themselves to any of the magazines of our business.

The same argument can be made for starting a business. Just a any regular business, not a trading business. How many are started every year? How many fail in the 1st year, 2 years, 5 years?

I don't know the number but it is a very high percentage >75%.

Of the ones that continue doing business, how many are highly profitable. That's even less of a percentage.

So people that want to try and say you can't do it in trading and if you do its all luck.....well, that same exact statement applies to starting any business. I started and ran a successful business, looking back so many things came down to timing and luck. Ask any successful business person and I'm sure they will agree.

Just like poker. Skill only gets you so far and puts you in a position to get lucky. You still have to get lucky to win. But the more skill you have the more your odds of getting lucky increase are.

I have pondered this topic quite extensively. Pretty much after most losing days. After my head gets clear, I always come back to the same thought.......Isn't this the same as running a business. Every day can't be good or great. There are plenty of bad days. Running a business....somedays you lose valuable employee....how much does that cost??? some days you lose sales deals....how much does that cost??? Some days you lose customers....how much does that cost???

So just like anything else that is worth doing. It's hard and can't be a straight line up. There is always a competing force that acts as resistance.