Stock picking doesn't work.
It's impossible to beat the market.
Ninety-six percent of all traders fail.
Ever heard any of these?
We all have.
Based on "realistic" thinking, these comments are meant to protect us.
Protect us from what?
From making money.
Let's take them one by one.
Stock picking doesn't work?
Then how are people winning trade contests with verified results that are many multiples of the markets?
How are people with disciplined rules able to average over 13% per trade over ten months like they have in the StrikeZone program?
How are people with disciplined rules able to average over 22% per options trade over almost a year like they have in Profit Accelerator?
How are people with disciplined rules able to average over 25% per options trade over almost a year like they have in Profit Zone?
Those programs all "pick stocks" and seem to be doing okay.
It's impossible to beat the market?
Almost any disciplined trading system beats the market. That's the dirty little secret no one likes to tell us. Trend following systems, for example, have data going back over one hundred years that clearly show a system does better than the market. By a lot.
Ninety-six of all traders fail?
Where do they get their figures? How is this even calculated?
And what does fail mean?
Sure, many people quit. That's the tragedy of trading.
But many people make money.
If they don't make a million dollars, is that "failing"?
If they only make one dollar, is that "failing"?
If they lose for five straight years and then make 200% in 2020...is that failing or winning?
Five years in a row seems like a fail and making 200% (more than the losing years) seems like a win.
It's a bogus, vague, life-limiting statistic that doesn't do anyone any good.
Trading is hard. Like anything else worth having.
But we don't need to let garbage negativity (based on nothing) into our lives.
We need to believe in our system and believe it can be done.
And get to work.
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