98% of Traders Fail? Says Who...?

Discussion in 'Trading' started by BullsEye, Aug 14, 2008.

  1. What kind of productive trading strategy results in margin calls?
     
    #11     Aug 14, 2008
  2. The stat i read from Douglas is that 95% of futures traders don't make it. I dont know about stocks etc. Some break even, some make a little bit and the other 3% MAKE ALL THE REST.:D
     
    #12     Aug 14, 2008
  3. look around for turnover in futures and equity broker accounts. That will tell the story.
     
    #13     Aug 14, 2008
  4. boobaies

    boobaies

    daytrading is really hard, i tried it for 2 days and man so much volatility and its too damm stressful not sure if i wanna continue.
     
    #14     Aug 14, 2008
  5. maxpi

    maxpi

    I think I read about some statistics from the Hong Kong markets that had it at 20% making money among daytraders at some point...
     
    #15     Aug 14, 2008
  6. hughb

    hughb

    I think paid gurus like to bandy that figure around because it implies that you will need their help if you want to be successful.

    When one of the day trading firms got raided in the 90's, (was it All Tech?), the NASD said that there was only one profitable account in the whole firm. But the way the report was worded made it easy to distort exactly what it said. I'm not going to google for it again, but I posted it on this site once, perhaps someone can find it that way.
     
    #16     Aug 15, 2008
  7. Who knows what the failure rate is but i would bet less than 1% of traders make over a $1 million a year.

    I would also guess less than 2% of traders make over 100K a year.

    The rest of the profitable %, whether its another 3% or 18% dont make enough to trade for a living..

    How many of the 70000 elite trader membership make over $1 million trading? I would say definitely way less than 700, and most probably less than a 100.

    How many make over 100K trading? I would bet its less than 1400.

    How many are net profitable? If the figure is 20% that would be 14000 of all the people who ever joined up were/ still are profitable.. Seems a bit too high...
     
    #17     Aug 15, 2008
  8. This is a ridiculous thread. The percentage is irrelevant because it will have no effect on your trading.

    The only important thing is: How profitable are YOU?
     
    #18     Aug 15, 2008
  9. Ridiculous ?! LOL

    The high failure rate just shows how easy day trading is....
     
    #20     Aug 15, 2008