I think the appropriate analogy is something like: 9/10 people who attempted to cross a busy street without waiting for the crossing light died. Whereas in trading the reality is: 9/10 people who attempt to cross a busy street after waiting for the appropriate signal, pass safely. In trading, the market literally shows you its cards. It's like cheating at poker!
That doesn't explain why 90% of traders fail. If the failure rate at any endeavour is 90%, then you should be thankful if your friends and family try and talk you out of it. Unfortunately the financial industry has done an excellent job of convincing the public that we are too dumb to look after our own money. Also how much you make is a taboo subject in polite conversation. Those who tell are not believed or accused of bragging. And then there are those who stretch the truth. But we can join a forum like ET where other traders are supportive and truthful
Oh 90% of traders fail because they try to cross the street without waiting for the proper signal and lose too much capital before they learn the lesson. I don't think it's any more complicated than that.
Yes so true. And God for bid people imagine that they could make more than their peanut returns they get out of mutual funds. Many times we make in one day what they make in an entire year of being invested.
!!! What you just reminded me of. One, past, classmate, who tried this, few years ago and blew up, recently contacted me, and after finding out that i am far away from flipping lambos/etc, his reaction was like : ,,Phew... I knew that it can't be that simple'' While he haven't asked anything about the effort side of my endeavors, he just wanted to know - have i made it yet. And the end of the communication was : ,,I wish you all the best (and blah blah blah)... " The relief that he felt, that i haven't made it yet. Yet. On the other hand : @Jdesey don't mind the fools. The more i experience, the more i agree : https://www.financialsamurai.com/th...guide-to-staying-invisible-from-society-rage/