If the 95% statistic is reliable, obviously people lose for different reasons. Most of the losers blow their account because they don`t know shit about the markets and could not tell the difference between the bid and the ask even if their life depended on it. They believe trading is easy and freely give away their money. Some faster than others. The losers pay the winners. Now, many probably give up after losing their money, but there are also some persistent and stubborn neophytes who take it as a learning experience and decide to learn how the markets and trading really works. After thousands of hours and years of their life spent pursuing the goal of becoming a consistent and successful trader, some of them eventually make it, but you can be sure that there are people who keep losing for the rest of their lives as well. I believe a trading is a skill that can be learned, provided that you are a certain kind of person. Most people don`t have what it takes to be a trader regardless of their efforts. That is the truth. What I felt accelerated my learning infinitely more than simulator trading was to manually back test charts and learn price action that way. Get years of data and start at the beginning. Bar by bar. Just observe and look for patterns that repeat themselves. Horizontal S/R, trend lines, chart patterns, etc. Develop a method. Start trading/backtesting it. Forget the simulator for now.
I understand that you want to know how much time you should expect before you start to see results, but the truth is that no one can tell you because it is a different process for everyone and like I said not everyone makes it in the end regardless of their efforts. That`s the tough thing about trading. When you study any other subject in school, you are graded and get feedback that way. You get papers that tell you that you achieved a certain degree of competence. And even if you don`t finish at the top of your class, you will still have good chances to get a job. In trading you get shit. You are only being paid if your performance is world class. Day after day. The 10 000 hour rule have been mentioned and while it may be a good estimate, I just don`t blindly accept it. Some have natural abilities that make them learn faster and excel in trading. It also matters how you spend those hours of study.
searching for the daytrading grail?granted - it is! God forbid!Don`t look at Jack''cryola-bullshiter-out-of-fucking-mind''Hershey either.
Unfortunately, part of the process is to waste time on useless stuff in order to find out what works for you and fit your personality. I would say that the first step is to get a good overview of the different markets, products, and different trading styles. After learning that, you need to decide what seems the best fit for your personality. Then take it from there. Read the relevant books, ask the relevant traders with similar styles, backtest, study more, etc.
Really? Why not? Are you saying i'm not a serious trader? So..they shouldn't be trading in any form at all then? And yet the great fortunes are made from compounding. What's Soros's or Buffett's annual rate of return for the past 40 years? Again, people aren't thinking long term. Yet you stated that you have website with "products" (trinkets?) for sale!
This conversational piece will hopefully be useful.. hope it helps. http://www.screencast.com/t/AJ7tdN46KN