All fun aside, it would be interesting to see how many Wizetrade users make money...but I think the "95%" rule is still in effect.
hey I am still waiting for any of the larger prop firms to give some numbers i.e. ( successful traders at their offices )
u don't get it. why would a broker care? U are just a monkey who they hope will pull be enticed by the flashing lights to pull the lever as many times as possible per day. Maybe you win maybe you use but for them it makes no diff.
most small businesses fail *because* of the govt. Try paying self employment tax, payroll tax, inventory tax, just for beginners. Once done paying taxes, you're left with nothing but the clothes on your back. Most successful small business owners I know are in cash businesses and don't report most of what they make. Their take home profit is basically the taxes not paid to the govt.
Most of small businesses that suceed dont blame the government or any one else ; thay take personal responsibility and survive occasional IRS audits.[The ones that pay taxes as required] OK that may have been a mistake recently for KY to raise cig taxes; but like the local news reported that means probably more business for surrounding states.
why does it matter if 95% of people fail? this is how losers think. only YOU decide if YOU win or lose. not statistics.
Do you know how winners think? The more losers, the easier juicy profits. That's what the market is about. PS: JP Morgan isn't doing great either.
I recall Don Bright posting statistics on his offices a few years ago. I did a search but couldn't easily find it in his many posts. I recall that the stats looked pretty good for those who had the stamina to stay with it for at least one year.
Sounds like you're thinking of this excellent thread titled "Prop Trading Success Rates". Look for all the posts by Don Bright on 12-28-04 (which, surreally, happens to be my birthday).