First of all, I want to thank all of you folks who participated in the survey. Second of all, that "90 percent of traders lose" statement should be taken with a grain of salt. Personally, the take home lesson of the survey was that if want to succeed you have to treat it as a business. The people trading as their primary income were the only significant subgroup that was successful, regardless of years spent trading. Albert
FYI 90 percent of traders lose was derived from 3 census survey done one London Stock Exchange, Taiwan Stock Exchange and a Brokerage in the States which I forgot the name to. ( : P ) A census, being complete enumeration of all the members in a sample space, has zero sampling error.
Albert, I might have to give you an F in Statistics. The survey is geared toward successful traders. It doesn't mean losing traders can't or will not fill out the survey, but very unlikely. Thus your way too positive result, not to mention the small sampling size... Trading is like a business and something like 2/3 or more businesses fold in less than 3 years....
The only time I can be a profitable trader is when I am taking surveys. I believe the surveyor would take my feedback more seriously if I am a profitable trader.