I've often read or been told that 70% daytraders aren't profitale, or even 90% forex traders get wiped out. While I won't deny trading is pretty tough, I've always wondered where that figure came from. I mean is it a statistic or just a figure invented just to give a general idea? And if it is a fact, is it over the past ten years, or cumulatively since markets exist? It doesn't seem logical does it : if 90% daytraders lose money, gradually they would just quit, thus making that figure decrease. And if newbies (also set to lose) come to replace them then ok the percentage at a given moment would still be the same, but cumulatively it would increase. Anyone to help me out...?