How often have you heard analysts refer to a down day on Wall Street as “traders taking profits”? Sounds great, but the sobering fact is that most traders — in futures, commodities, or forex — lose money. Yet some traders do win; some even set records. In 1984, Elliott Wave International’s president Robert Prechter won the U.S. Trading Championship, setting a new all-time profit record of 444.4% in a monitored real-money options account. Here is a link to the free report where he lays out his requirements for successful trading.