everytime i read about fund managers boasting their track records of 7, 10, or 12 percent average annual returns, i can't help laughing. some years they even incur losses. give me a break. what kind of professional investing is that?
a trader friend of mine was making 100% return every MONTH when the market was good. and he was only considered slightly above average in his group. the funny thing was that he didn't know anything about fundamental or technical analysis. he followed the market and was fast getting in and out of it.
of course there are those who trade well using some sort of systems. but many good traders are in sync with the flow of the price action and are super fast in making entry, cutting loss, and taking profit.