It was a pure guess, i have no idea what are the actual numbers. (80+10+5+4+1=100, but that guy already replied)
Which is more good evidence that you don't need to know more and more about the markets in order to be a good trader. This is pretty much the reverse of every other professional activity we get into in our lives. They're all pretty bad preparations for trading and poor indicators of one's likelihood of success in trading.
That's a really good point. When you put it this way i guess you are right... How many are ready to put in the time, effort and sacrifices required? And we get down to a couple % pretty fast lol.
How much do you think a Lebron James prepared or had to prepare compared to an El Cubano lol to make it to th e NBA?
Your odds trading for a living for 5 years straight are considerably lower than running a small business for 5+ years and being profitable. While you probably can't find a study comparing them, I probably know enough people (including myself) who have tried either (or both) for a statistically significant sample.
it's a no brainer.... most SBs have positive sum... you can have a small biz just for mowing lawns and if you keep overheads low it's a no-loss biz and the only question is if you make enough to move out of your parents basement lol... but if you only make $10000 a year and then decide to look for a job then the SB is considered failed.... so yeah for trading a zero sum game, 1% is prolly fairly close to reality.
A veteran stock trader once told me during his time when there's yet to have electronic trading, there were about 5000 traders at the broker, and only 3 that were really making good money.
I posted the study from the SBA. Over 20percent of businesses survive past 5 years. And that percentage hasn’t changed over time.