http://www.elitetrader.com/et/index.php?threads/we-are-the-95.228628/page-5#post-3327399 Even the smartest FAIL big emg http://en.wikipedia.org/wiki/Long-Term_Capital_Management
It's like this in all domains: take the seo, 95% of webmasters ll get 30 - 50 dollars a day with their sites ans only 5% ll success to make real money. Or just go to any office: 95% of employes just earn their life, but only 5% have really good salary because they re doing a really great job. Forex is the same
I'd agree 95-99% even, lose. I've chatted to 100's of traders over the years, known a fair few blow 100K in a few months ( actual mates, 3 of them ), seen a chinese american guy blow 200K, I don't know anyone that long term makes a living off this, sure loads claim to but really ?? Is it possible, I've had months of good trading where account is up like 1,000%+, but 18months of pretty much sideways after this, so yes, but tricky to be consistent really damn tricky. Still better odds than winning the lottery, although more expensive and more time consuming, so likely not a fair comparison.
Years back someone posted private confidential broker records of 3 different firms. The person that posted the info argue that it was his proof that traders were not profitable and wasting their time even though most already know most traders are not profitable. Yet, those records did in fact show about 8% were profitable at least for that particular year. I also remember there was no way to differentiate retail traders from professional private traders on those lists. In addition, I doubt there are any long term records considering most traders will have move from one broker to another broker in the life of their careers. Only full proof way to know are the countries tax records and all of that is private confidential info.
8% which might be Professional traders also, is still pretty low on what's effectively a 50/50 game, if you ignore all the spreads/comm's and other costs and that's just 1 year, how many give it back or lost 3x's more the year previous ? 2014 I'd of been in the 8%, 2015 back out again or up slightly. ( 2008 in the 8% but only made 2 trades worth $40 from memory LOL ). It's a HARD HARD Game, well it isn't, but we make it hard then screw it up. About 80% on here, claim to be profitable, okay maybe this sites attracted a better class of traders compared to others, so maybe 10% of us on here ( me not enough to count ), so an estimated 70% are lying LOL
I am often hear if many trader get loss in trading more than ninety percent trader get fail, and maybe yes, but I don't know for sure, in my own experience forex trading is not easy to making profit consistently , but maybe expert tarder or pro tarder they already making mney easily through forex business
I think it's accurate people who just jump in the stock market for the 1st time will lose their pants. That is why I've been paper trading for a while and yes I was one of those people who jumped in not knowing a thing of how the stock market worked.
Yes maybe you right, required knowledge in every business, but also if any people they want to jump in certain busienss also need courage to take action, this will giving experience and like as some people said experience is the best teacher for us
I am not a game player per se, but I know of some who have quit their jobs after saving up for few years to play "World of Warcraft", you play something long enough, you pick up skills, and if you have developed quick reflexes, you become one of the best. Day trading is beyond video games as there are no final level, but often times it is exactly like video games, you have to have mental prowlness, you have to memorize and be able to do before thinking, you have to be able to do what others simple can't do cause it does not make sense to them, you have to be anti-Spock. But hugely it is a Spock game, you study long enough, it is a game about how to make others lose, where does the market have to go to make the most separate individuals lose all at once. So say I am putting on 450 lots of ES, it is possible that 450 of them are taking other side of all my lots, for me to reap, I need to beat 450 traders who are opposite of me. I have zero thoughts of being better than anyone, I am just concentrating on the next level, the next tick and direction, I know all the probabilities of what can happen, I am in tunnel vision. It doesn't matter if someone knows far more than me or they are on last trade of their life, I am just concentrating on making them lose and me profit. Too many here want a story of why something happens, it is always the SAME !!! Price goes somewhere to make others wealth and for you to lose. When price is SCREAMING in one direction, at some point I am going to go the other way, it is just plain and simple to me, all the thousands of individual bozos who are happy the market going their way are going to be screwed by a few dozen who are doing volume and force price to go other way. Trading is like War, like Market Profile, you can see areas where traders are willing to hold and push back. Have a great weekend all.
First time as beginner I am also often suffering with loss and I am realized if making money with forex is not easy to me, maybe if remind old memory already many account get margin call account, maybe right if so many trader fail in forex but I am strill in lucky because most my acount only from bonus free