I've always had a hard time with this anecdotal statistic 95% are losers it took me a while to get my mind wrapped around it they are not talking about people like you and me they are talking about the guys that subscribe to chat rooms they are talking about the guys that watch late night infomercials and pay for books on real estate they aren't just talking about 95% of traders they are talking about 95% of humanity so yes, 95% lose that is why they are not traders
they might as well be talking about 95% of sports bettors or 95% of people that start pet stores they might as well be talking about people in High School that end up failing at what they dreamed they would be doing someday when they were going to high school so, it's just sort of like an anecdotal statistic 95% fail don't matter what really you are attempting they could have just said, "95% end up doing something for a living they never planned for." Show me that kid in High School staring out the window dreaming some day he would be a purchasing manager for a box store. almost nobody ends up the way they thought they would but it's kind of bad rap on trading just because most fail most fail at anything they try but when it is going bad, don't let that "95% fail anecdotal statistic" discourage you they are not talking about people like you and me they are talking about total dumbasses and they post here all the time on ET
the problem with trading is it is very difficult to add value along the way and that is how most business becomes successful over time
at any rate, I consider myself to be just an average man but at some point when they start throwing out statistics like "95%" you just have to admit well yes, 95% are just failures that's the way God decreed it same with Darwin it's what is neccessary to keep the whole deal going so then on a bad night during a bad week after a bad month in a bad year, you have to ask yourself, "Does the top 5% rotate?"
I guess, if over time, you can stay up in that top 5% you are making a pretty good showing of yourself
just something to think about haven't updated this since 2010 but back then 15% beat the S&P of those that did, 50% beat it 3 years in a row and 5% beat it consistently over 5 years so if you are one of the ones who beat it 5 years in a row, you can truthfully say, "95% are losers."
i am tired of this baseless 90% trades lose statistic like someone went and surveyed all the traders.. and survey year after year to see if they are still in business or not.. how the hell does anyone know what is the true % of traders that do make it... reading posts on ET, it makes me think most on ET do make it in this gig