Thursday, July 05, 2018

Why Do So Many People Pursue Trading?

I recently received an email from someone interested in trading for a living.  The person knew little about markets other than reading a few books and following some traders online.  He only had a small amount of money to open an account, but indicated a passionate desire to turn this into a living.

Seriously, WTF?

Why is this going on?  Why do so many pursue a living from markets when there is clear evidence that the great majority never succeed?

Consider these results from Gallup organization polls:

Polling finds that in the UK, 14% of people indicate that they strongly agree with the statement that they have enough growth opportunities in their work.  That number is 21% in France; 19% in Spain; 33% in Germany.

Another poll finds that GDP has been rising in India, but only 3% of the population describe themselves as "thriving".

A poll of healthcare workers finds that 6% report themselves as "thriving" in measures of well-being.

Surveys consistently find that 30-35% of American workers feel "engaged" in their work.

Most people don't have the capital, connections, or experience to start their own businesses.  They look at the jobs out there and talk with people working and don't exactly feel inspired by what they see and hear.

Perhaps, just perhaps, people seek trading--against all odds, against all common sense--because the pursuit of a remotely possible winning life feels preferable to assured misery.  It's the same reason refugees defy all odds on the high seas in hopes of a better home, a better life.  What many aspiring traders need is not false hopes, but genuine, viable alternatives to the traditional "opportunities" out there.

Further Reading: