I don't understand why people say, "It can't be done".
Just a few weeks ago, I listened to a podcast featuring a very successful trader, and he couldn't wait to say that daytrading is impossible. There was happiness in his voice.
A famous online entrepreneur, tremendously successful in many ways, has also said that it would be better to light all your money on fire and throw it in the toilet than try to make money as a daytrader.
Why do people do that?
What's the point of saying "it can't be done"?
For one thing, it opens up the speaker to look stupid. What if daytrading actually is possible? What if people are doing it right now? What if one of my Lifetime Members just emailed me two days ago and said he's up 29% in 2017 using a daytrading robot? What if I made 100% in a year using only a daytrading system? What happens then?
Do naysayers then deny reality? Backpedal on their "it's impossible" declarations?
It's a confusing path to take. If a negativist is wrong, he looks like an idiot. Worse, the cynicism might discourage future traders from trying something that could possibly save their financial life. And if he's right, what has he accomplished? Maybe saved a little time for someone? Maybe gotten more clicks to his website?
The only benefit I can see to being a naysayer is the perverse joy received from sometimes being proved right.
For sure, daytrading is hard. It takes years to research systems that might be robust enough to make it safely through many different market conditions. It then takes more years trying to learn the proper mindset that will allow us to be successful. No one is saying it's easy.
But it seems to me that the difficulty of daytrading presents a delicious opportunity for the doomsayers.
Most people don't become professional athletes. Most people don't become neuroscientists. Most people don't become daytraders. That's the way it is.
So it must be too enticing, for example, to say, "It's impossible to become a pro tennis player" to a bunch of young tennis players.
It's too enticing because, if a cynic said this to a group of 1,000 kids, he might be right 999 times. Think about the joy of that! He makes a statement about something that's hard, and then he gets the wondrous confirmation when almost everyone fails!
It's true that when that one kid does actually turn pro, he looks like a complete a--. and his statement is totally invalidated. But until that happens, a prophet of doom gets to be right over and over again. And doesn't that feel awesome?
Furthermore, it's super easy to fudge a negative statement in an attempt to explain away someone's annoying success.
If being right is the addiction, being a naysayer can possibly pay off.
My addiction, however, is not listening to "it can't be done." My addiction is opening doors, not closing them.
That's why, one week from today, I'm going to make my latest daytrading robot public. And then I'm going to post its results online at myfxbook.com and see what happens.
Maybe it will crash and burn, and Negative Nancy will celebrate with glee. Or maybe it will work just like the data says it will work.
Wouldn't that be something?
Next week we'll start the process of finding out.
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