Is Independent Trading Success Possible? (Part 4)

This blog mini-series initially aimed to discuss whether independent trading success is actually possible.

I have observed many people who claim to be successful traders and most have something to sell.  Some people start off with blogs and a web site and others progress to a subscription newsletter, a mentorship service, or an “educational program.”

As Gregory House says, “everybody lies.”  People may lie for many reasons.  This realization forces me to accept only authentic account statements and tax returns rather than completed questionnaires.

Since these documents are regarded as intensely personal in our society, I have a research problem.  I might be able to collect such data in exchange for significant compensation but I don’t have that kind of budget.  I am therefore left with no investigative means for a practical research question.

Is independent trading success possible vs. can we demonstrate the existence of statistically significant independent trading success?  The latter seems to be “no,” which leaves me to be content with a sample size of one:  myself.  Human greed is what keeps us all searching for the “holy grail” and this hope will sustain trader interest and activity even when proven success stories are nonexistent.

“We believe what we want to believe.”

As for those looking for a new line of work, I might encourage a profession where demonstrated efficacy (i.e. a regular pay check) exists rather than one that might be sustained only by urban legend or anecdotal reports of success.