The Dream
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Each of us has a dream. For the active student of the market there is
only one: to pit his or her ability and capital against the market and
earn a living from it.
For years Bill had dreamed of trading and living his dream. At
age 33, he sold his printing business, making a $180,000 after-tax
profit. This capital would enable him to begin living the dream, or so
he thought. Four months after beginning to trade at a local electronic
trading firm, Bill had lost $65,000; 63.89 percent of his trading
capital had disappeared. What had taken him years to earn was
gone. Bill's dream was rapidly becoming a nightmare.
The grim reality is that short-term trading—especially day
trading—can be hazardous to your wealth and that 92 percent of
day traders lose money in their first two years of trading. Only 8
percent are successful. Of that 8 percent, only 2 percent of the day
trading public make money on a consistent basis. Why is it that the
public gravitates toward short-term trading? There are several
answers to this question. For now, let us address a more obvious question. Why do 92 percent of day traders fail, and what makes 8
percent successful? This book answers the questions and misconceptions
about short-term trading. It delivers powerful trading
methodology, screening procedures, tactics, and a revolutionary
approach to developing emotional control and mental focus.
Each of us has a dream. For the active student of the market there is
only one: to pit his or her ability and capital against the market and
earn a living from it.
For years Bill had dreamed of trading and living his dream. At
age 33, he sold his printing business, making a $180,000 after-tax
profit. This capital would enable him to begin living the dream, or so
he thought. Four months after beginning to trade at a local electronic
trading firm, Bill had lost $65,000; 63.89 percent of his trading
capital had disappeared. What had taken him years to earn was
gone. Bill's dream was rapidly becoming a nightmare.
The grim reality is that short-term trading—especially day
trading—can be hazardous to your wealth and that 92 percent of
day traders lose money in their first two years of trading. Only 8
percent are successful. Of that 8 percent, only 2 percent of the day
trading public make money on a consistent basis. Why is it that the
public gravitates toward short-term trading? There are several
answers to this question. For now, let us address a more obvious question. Why do 92 percent of day traders fail, and what makes 8
percent successful? This book answers the questions and misconceptions
about short-term trading. It delivers powerful trading
methodology, screening procedures, tactics, and a revolutionary
approach to developing emotional control and mental focus.