Apr 15 2008
The Importance of Feedback
I've got to say that as much as I want to share my thoughts here on MORE of a consistent basis (RE: everyday), I find that I am receiving some positive feedback from many readers.
Whenever I get out to be with other traders it seems like I get at least a comment on the blog. I have to reiterate that ANY comments are welcome, and not just via email to me, but you can easily type your comment in below and it will be a fixture as part of a blog post.
My promise is to keep this evolving in sharing various thoughts related to the trading industry. I always seem to come across interesting bits of news, and I like to share it. If you have any leads on anything, please forward it on ... as many of you know by now, I will always share my honest thoughts with you.
And again, good, bad or indifferent leave your thoughts and it will help me to evolve this!
Comments
04/15/2008 08:02PM
Well, I do not know whether only 10% of all traders are successful. It may depend on the person's definition of success.
In my case, I do short term trading and have more successful trades than losing trades. My account is growing very slowly, mainly because I am such a cautious trader and I have such a small account, therefore little to invest. Those of us with very small accounts will take years to get to where we can make a living trading. Perhaps, that is why so many people (even those who are using the Trading Post's proven methods) give up even though they are consistently making small profits on their overall trades. They have to invest a lot of their time to make so little money. I understand why they give up and I assume these people who quit are also counted among those who are not successful, even though they were increasing the size of their accounts very slowly.
Maybe, most traders do not consider themselves successful until they are making a comfortable living by trading.
Using some definitions of success, I am a successful trader. Using others, I am not successful. Maybe your long term contact should first define success and failure before he applies percentages to traders in general.
John K.
Just wanted to thank you for taking the time to share your thoughts. Trading is such a curious and great challenge, that it's nice to always have open dialogue on it.
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