ASIC: 80% of Binary Options traders, 72% of CFD traders and 63% of Forex traders lose money

And yet... half the posters on ET can't scrounge enough money to avoid pattern daytrader rules.

 

How do you know? Do all traders sent you their account statements? ROFLMAO.

 

What surprised me was the Binary Options losses statistic. Considering the FCA survey, according to which Brits lose GBP 87,000 per day to Binary Options scams, I thought the percentage of losses would be a lot bigger.

 

Because there are endless threads bemoaning the pattern daytrader rules.

 

So you have no hard proof, just a personal subjective opinion...
There are also a lot of traders trading in products where there are no pattern daytrader rules. So they are already exluded.

 

Those are actually great odds, compare to the odds of making the NBA, NFL, MBL, becoming a surgeon, a CEO of a Fortune 1000 company.... With those odds, I should take a serious look at forex.

 

Haven't you, by now?

 

That percent is probably too low. I recall a poll regarding acct size on BigMike's earlier this year. I think 80% reported having less than 25k!

 

No. Don't know how to start, know nothing about currency. But I will look into it, thanks.