FxMaster - what you don't realize is, in the information age - working for an institution in a field with this level of competition isn't something desired by all.
A lot of people I know in marketing, are very successful marketers - and refuse to work for a marketing company solely because they prefer to work on their own calendar and dictate their own schedule.
The retail trader, if desired, with the right knowledge can be successful, and permanent.
TL;DR - progression from retail, to institutional trader isn't desired by all.
Yeah, right... Who needs a 110 million USD paycheck every MONTH...?
Yes, 110 million USD a month, i.e. 1.3 Billion USD a year...!
That is how much the best paid fund manager makes:
Again, these fund managers can achieve 'only' about 30-40% profit per year... Even the one who could make only 2% profit in 2014 got 400 Million USD...
In other words, if a retail trader could achieve a safe 30-40% per year, then he/she would be among the best paid professionals of the world. Even if 'sacrificing' only 1 year of his/her lifetime as a fund manager, he could easily retire after one year on a 1 BILLION USD yearly salary.
But again, who needs that 1 Billion USD...? It is better to stay at home managing a few hundred thousand USD and making maybe $100k a year... Right...??
You obviously don't have a full comprehension of hedging.
Firstly find me one of those individuals without a complex education surrounding financial and economic studies.
Ken - the chap from the article - started his first fund whilst at Harvard.
He attained $260k in financial support from family and friends and graduated with a degree in Economics at Harvard.
Following the acquisition of his degree, he attained an investment from Mr. Frank Meyer, recoginizing his potential.
Already he's undergone 4 years+ of studying, with an opportunity to acquire HUGE wealth with the funding of his friends and family.
These sort of oppourtunities don't present themselves to the average joe.
I guess ultimately it stems from your definition of 'Rich'.
Because there is making money, then there is making MONEY, then there is M O N E Y.
The average joe day trader, can make a sustainable living of $2k+ a month with relative ease with good education and a financial awareness of the market.
Consistency is hard, because the markets are human - they fluctuate - which is why so many EA's fail in their first 12 months.
They don't move the same ways for long.