If 70% are winning, then 30% must be really rich and don't mind losing a lot of money because those are the guys who are paying the 70%. Can that be possible? PS: Remember, both the winners and losers pay exchange fees and commish with the winners also paying taxes. So, as always, the real winners are the exchanges, brokers and your government.
What would be the point of voting "yes" here if you arent profitable? Its not like we get to see who voted "yes" and who voted "no". I think there are many profitable and successful traders on this site, no reason to be so negative. Just because you are struggling doesnt mean others havent figured out how to make good money these days.
Based on the content of a large amount of the posts on this site I would say that many who post on Elite Trader actually do not trade with real money. Seems a lot are paper trading or academics that like discussions. This will make such polls as this inherently inaccurate. With that said I too think quite a few profitable traders do post on this site.
how about all those that think most people arent making money go and join the trader pnl thread...then you can see who is making money and roughly how much
There was another guy on Elite Trader who did a survey if I recall correctly. In his survey, 31% of traders are losers, 1 trader made over $1 million, a couple made $500,000 and another couple made $250,000 and a couple more $100,000. The difference in that survey is that there are ranges in dollar amounts and you vote in which range you are. It is probably there somewhere and I would think that there are more losing traders than winning traders. A lot of people who attend seminars don't even have a clue at lot of times what the speaker is saying when they talk about technical analysis. Some pretend to know by asking questions that are miles away from the topic being discussed. I am still a neophyte as far as technical analysis but, I am educating myself. There is not a single way to make money but, it ain't easy!!!
Unfortunately, it has been documented that people lie about themselves on the internet in chatrooms all the time. An even sadder statistic is that 25% of all cellphone users in public are actually faking the call. People are strange
An even sadder statistic is that 25% of all cellphone users in public are actually faking the call YHAHAHAHAHAHAHAHAHAHAHAHAHAAHHAHAHAHA
This site is call "Elite Trader" and a ~60% success rate so far is reasonable. I believe people do not lie in here. What's the point of lying here anyways? Based on the replies so far, it is easy to see trading is a difficult business. There are approximately 100 replies who say yes out of the total ~46,000 members. The % is not high at all.
60%, u must be kidding me. I would bet my nutz no more than 20% are trading for real and no more than 5-7% are making any money.