Gees gamefisherman...how am i gonna answer all that. I can't...

Gees gamefisherman...how am i gonna answer all that.

I can't type...I was lucky enuough to start my own business at an early age and eventually I employed someone to do all that typing and writing for me....so, I never learnt.

But before I started my business, I worked in the corporate world. In between my training years and full time employment I had a couple of gap years. As a young bloke, I mustv'e been sick, as I didn't travel, but I always wanted to owner build, so I worked with a builder for a while which lead me to sub-contracting at a very large building site putting up fibreglass awnings. This led me to the fibreglass factory where I eventually landed a role building boats.....which led me to trying them out, wetting a line here and there. Nothing better, although I prefer a calm bay, as nothing worse than a large swell and other crewmates offering chocolate, cold pizza..............u know where i'm going.

Where do you fish?......( without being specific)

Ok, so on to your first question....... the 20 out of 100. I wonder how 'they' know. I don't think 'they' do. Where is the official survey?

I think it's a bit like small business. They used to say something similiar. So many out of so many failed. In all my years of business no one asked me if I failed, nor of any other business folk I knew. Maybe they got the stats from the ATO, although I doubt it, as the ato treats a lot as confidential between client and themselves. If any figures from there, they, I presume, would be a generalisation. So maybe they get from the various State business registration offices. Dunno! If they did, those figures would be very misleading, as say u were a plumber and ceased business....would that show up as a ceased and thereby failed business. I know a few business folk that closed their business to go to greener pastures. Some buy the real-estate they operate from and find they can earn a good living leasing it out to someone else and hence close their own business, and earn good money from real-estate....hardly a failed business, although the raw figures would show it as. Ditto, I have known some that have gone back to the corporate world as they have had lucrative offers....once again hardly a failure. So I guess the same could hold true for successful share traders....dunno!

I'm a sceptic of figures. Good for goverments to provide hospitals and roads, good for logistic companies......but for traders, next to useless. I ignore them.

I could also say that I have known some business folk that have gone nowhere. The same old business, year after year, with little to show for it. Although still in business, to me, they are a failure....although the raw figures would not show it. ( I think we could have a few in that category round here, with their daytrading). You don't need to pass an entrance exam, nor go for an interview, nor qualify with any formal qualifications to go into business, nor do you with trading...so I guess there is a reason for a higher failure rate.

But, here is the thing that those preaching those numbers don't qualify. Do they mean established traders.....or , do they mean those that attempt to learn?

I suspect the later. Not many would have the time to 'live and breath' the markets to learn. It takes 3-5 years to learn to begin to trade and then another 2-3 years post learning to become competant. No different from any apprenticeship, traineeship, interneeship...or any other field of endeavour.......Oh! except here on Hotcopper of course, where you can learn to trade overnight. (LOL!)

So it takes time, and a budget to learn. Many would be undercapitilised and many would be time constrained. For me, my gap year taught me the value of hard work and effort. It also taught me that I could have freedom.....not from work, but the ability to search for better opportunities in different fields. Running my own business taught me persistance, and persistance under pressure, so learning to trade, I had done it all before, so I knew what was needed. Many don't have that life experiance...they don't know how to really persist....to go beyond the average, the normal. You need to do it.........


thanks for your chat gamefisherman....I'll post later when I rest my fingers. Sorry to derail your thread jako......but i'm sure you won't mind. Nice to have good folk here.


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