I trade for living and trading is my only source of livelihood for many years. It took me about 3 years to become a consistantly profitable trader. Initially the capital was small and I had to draw my profits out for my expences ...but once a critical mass is accumalated in the trading capital, the growth has been exponential.
I daytrade and also swing trade in the futures market.
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Trading is a magnet for those seeking reward without effort
90% of the general population fail at virtually everything, or give up at least. I have taught karate for 20 years and music for almost the same amount of time. Maybe 1% get their black belt. Almost all music students quit when the going gets tuff. Is it really any surprise then that most traders fail? In fact it makes perfect sense since the illusion going into daytrading is that you can make loads of money without working. That would seem to be a magnet for quitters.
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And it doesn't help the general public perception, however misconstrued, of trading (successfully) for a living, is mostly considered as non-productive , legalized degenerate gambling , possibly criminal at heart, and not a "real job".
True that . I dont know about other places around the globe but around here the path of least resistance is the preffered path for those who manage to become employed . I encounter many people that aspire to get a union job in hopes of going out on disability . Few people are willing to suffer at least a little to succeed beyond the pack . If all the people I hear saying things like "if I only win the lottery I could retire" is any indication of the overall attitude then its no wonder so many suckers get taken for a ride by the markets .
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I wonder what the attrition rate would be for those that stick with it for some given period of time?
For example, for those that may spend a year trying to figure it out, probably easily less than 5% of those people will make it. Maybe for two years that number would be more like 8%. Maybe for three years, might be a bit more......
Obviously it will be variable, and dependent on one's prior experience, environment etc....
But I'm just wondering what the GENERAL % vs. time spent would look like.