[Reaver]

Yeah it's hard at first to separate the wheat from the chaff. Not knowing anything about the markets at all makes it easy to believe that there are some secvrets, etc to making it rich. I'm glad I used my brain when I got started and realized that there is no shortcut. I'm still learning, but then again, so is everyone. This forum makes an excellent sounding board and reality check for those caught in the mix of all the bs, etc out there.

[Reaver]

It's easy to get picked off by huckster marketers and scammers when you're new to the game, simply because you don't know any better. Kind of like a stranger giving a kid candy, same principle. I really think this forum serves as an excellent reality check and sounding board for those that would otherwise be surrounded by all the garbage out there.

[mohsinqureshii]

Originally Posted by Kiwi »

Its not bad that more people try or that more people fail.

Out of those potential failures will come the smaller number that succeed

The success and the failure of any trader is just because of himself - if he has chooses the right strategy he might have not lost. 99.9 % traders loose because of their own wrong strategy which Involves they emotions , greed etc.

[BlueHorseshoe]

Originally Posted by Reaver »

I think that more and more people are simply falling victim to the new wave of marketing in the "get rich quick and easy" series.

I agree. The other day I pulled down an old chart pattern trading book from my shelves - Curtis Arnold's PPS - trading system. At the back was a wallet in which an old diskette must once have slotted. The whole thing just seemed so incredibly dated compared to the slick online marketeers of today - how many John Carter wannabes are out there now? Hundreds.

Personally I wouldn't be suprised to see a new wave of marketing around algorithmic trading systems arising. Yes, I know that these have been a possibility for retail traders for a good while, but I don't think they've fully come of age yet. One of the platforms was advertising on Bloomberg the other day with a slogan of 'where robots are traders' with the promise of users being able to give simple english language instructions to build a strategy. Now why did I ever bother learning EL or Java (or B.A.S.I.C. back in 1992)!?!?

As well as being a very real potential way to make money, simple algorithmic trading is also a marketeer's dream for lazy traders. Having said which, so is the ego gratification of discretionary trading . . . That's enough from me, I think.

[Obsidian]

Originally Posted by TinGull »

...The surge in electronic trading is bringing in a lot of fresh money into the markets for the seasoned pros to take advantage of, and then those youngin's don't have a lot left afterwards and end up quitting...just like always...

Absolutely right...

People are trying to choose the easiest way to make money but at the end they are losing what they have...this will not change until they understand that trading is a concept that requires knowledge and experience...

Big sharks are sharing their profit with EA programmers (web scammers) now