"Traders come to the markets with great expectations, but few make
profits and most wash out. The industry hides good statistics from
the public, while promoting its Big Lie that money lost bv losers goes
to winners. In fact, vvinners collect only a fraction ofthe monev lost by
losers. The bulk of losses goes to the trading industry as the cost of
doing business—commissions, slippage, and expenses—bv both win-
ners and losers. A successful trader must hop over several high hur-
dles—and keep hoppin"

Alexander Elder, "Come into My Trading Room" page 48.
Basically if the trading costs of commissions, slippage and expenses are too much the hurdles to a trader's success gets bigger. ..

BTW Sally Pearson is the hot favourite for the Olympic gold in the 100m hurdles for women.