Here is another interesting research paper small traders just lose: Do Day Traders Rationally Learn About Their Ability? http://www.usc.edu/schools/business/FBE/seminars/papers/F_12-9-11_ODEANpaper.pdf 80% of small traders lose within 2yrs while the remaining 19% lose after 2 years. Only 1 % makes money day trading. More than 90% of small traders lose! They just lose!
Much worse than the results in one of their earlier studies. I wonder why? You'd think by now . . . On the other hand, the current crop of traders may have no memory of '00 or even '07. Some didn't even begin until after '08, so of course it's been so easy
I seriously doubt real success rate is much higher among comparably scalable professions. The only difference of trading is that it's automatically scalable while most other professions include multiple stages of moderate success.
As interesting as these statistics may be, they don't predict your success. You're a unique individual. My mothers probability of managing the treatment for her cancer, was very very small. Yet, she survived and is healthy again. Will the cancer's state of remission persist. Will a trader's success persist? What are you the individual willing to do to make yourself succeed? How much work, pain and discomfort to achieve success?
A lot fail because they expect it to be easy. I run into a lot of people that just think stocks equal mega money. They see movies, shows, and such all glamorizing the rich lifestyle of Wall Street, but itâs not just easy money. Itâs actually a real job that requires substantial research.