To add to that, a friend 'got into being a trader' as a friend of his simply needed a large number of bodies to manage trades.
Of a year the majority would fail, but would would do great - he would then tout all the 'good' traders out as being new super star traders, and use them to get new business. As long as he had a large enough pool he'd be sure to have a few that became multi-year profitable, and now command large fees.
Basically they are able to make it seem like they know what they are doing, when really they are just hiding failure.
Of a year the majority would fail, but would would do great - he would then tout all the 'good' traders out as being new super star traders, and use them to get new business. As long as he had a large enough pool he'd be sure to have a few that became multi-year profitable, and now command large fees.
Basically they are able to make it seem like they know what they are doing, when really they are just hiding failure.