Misconception 1: 95% traders fail, 5% succeed. Where do people get these numbers? Out of their own dreams? Outdated data from a foreign island? Misconception 2: It takes at least five years to make money in trading. What kind of five years, occasional dabbling, part-time investment, swing trading? Only intensive day trading should be considered, not other sporadic attempts. If you don't make serious efforts in trading, 10 years or 20 years won't make a difference. Give me a break, don't count your college trading club years, OK? Misconception 3: Trading is difficult. Trading is NOT difficult, it's one of the easiest and simplest jobs you can do in your life. Anyone with above-average intelligence can do it. We must not mix difficulty with confusion. Trading is confusing, because there is no formal training school out there, also because many people are trying to scare others into thinking that trading is difficult.