Are those hard statistics or someone's guesstimate? Can you direct me to the study that obtained those numbers? Thanks.
You don't really need to know if I am inside or outside the 1%. I did Google before I asked you. Could not find the data. Can you tell me what should I Google in order to get those statistics?
You're much more likely to lose 100% in a month day trading stocks...rather then gaining 10 or 20%. If you ask me, that's not a good Risk vs Reward proposition. It's so easy to lose money, but the potential gain is just mediocre....if you let that equation spin around...it will only lead to failure. I'm not saying all this because I'm against day trading; I'm not....but you have to know what you're doing and what you're trading, You have to structure the trading game and formula in your favor to survive and thrive, It's as clear as light and day -- but some people are inherently blind and defective,
And I think to be in the top 1% you need the very best in trading equipment hardware & software, data, systems, etc. Your chance of becoming another Bill Gates of trading is a bit late, the horse has bolted. Your only chance imo, is becoming a savvy investor, that is trader with a longer term prespective, that is only what will allow you to compete and make a profit. Forget the "buy for dividends" mantra BS, I mean trade the longer term trends for capital gains. Right now resources have been running, that's the bandwagon you should have hitched your horse up to about a month or so ago.
I like the market, and for 3 years I studied many sources, books, and some practice, I believe it is possible to the get a good return, but I want to maintain realistic too.
They are guesstimates... because I seriously doubt that any 'info' on the internet about this is hard evidence... so the detailed numbers @birzos gives are merely based on chinese whispers.