90% of traders lose money? - Page 9
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  1. #81
    Join Date
    Dec 2016
    Location
    Australia
    Posts
    95
    Hi Martin... I like your posts... no holding back... say what you really think etc. etc. You are totally correct.

    Unfortunately some people just don't understand financial systems at all.... and pay a heavy price.

    Others just get it from the start, no books, no courses, and go straight to 200 pips a day on a demo.... I've seen it.

    Hey Lexys... Latrines.... I had to look it up, thought it may have had a different meaning.... but no...

    PS Martin. I like your 1 pair 2% per day account building strategy highlighted in another thread.... newbies should note a KISS system like that.

  2. #82
    Join Date
    Oct 2010
    Posts
    2,909
    When the Majority of Mentors insist on opening account with $10,000 without any caution to the wind, and then goes and blows it in 6months, is far devastating and makes the mind say, F That. Thats it, end of story.

  3. #83
    Join Date
    Oct 2016
    Location
    Canada
    Posts
    72
    And the leading cause has been identified to be overconfidence and not following their winning strategies. But the most important thing is to figure out the reason for the loss and learn from that experience.

  4. #84
    Join Date
    Dec 2015
    Posts
    481
    Regarding the original question – that is the popular myth. Actually I think the myth is that 95% of newbie traders lose money. And I say myth because I have never seen any kind of official statistics from a properly conducted survey. Who knows what the truth is.

  5. #85
    Join Date
    Mar 2015
    Posts
    621
    Quote Originally Posted by mlawson71 View Post
    Regarding the original question – that is the popular myth. Actually I think the myth is that 95% of newbie traders lose money. And I say myth because I have never seen any kind of official statistics from a properly conducted survey. Who knows what the truth is.
    I am ever read this statement from statistic that issued from certain company, but this statistic might also not stand for all trader around the world, but only using data from these company, but I think as average if many trader especially beginner ever facing with failure included me

  6. #86
    Join Date
    Oct 2016
    Location
    Devon, UK
    Posts
    322
    Maybe 90%, maybe 95% - we'll never know for sure. The most important thing to know about a statistic presented as a percentage is - % of what exactly? And we'll never know that for sure either.

    However, given the very low obstacles to entry into trading, against the considerable mental and emotional skills required, I'd be very surprised if the failure rate was less than 95%. Though I'm not sure we know what "failure" means either.

  7. #87
    Join Date
    Oct 2016
    Location
    Canada
    Posts
    72
    90% of traders do not have good money/risk management plan that would help them in cutting short their losses and not investing more than they can afford to lose.

  8. #88
    Join Date
    Nov 2012
    Posts
    3
    wow - you've had many replies!!! I can't speak for if that stat of 90% is true or not - but i personally do believe it. I opened a demo/practice account with Forex.com when I started. After about 3 month I was impatient and put a small amount of real money in a live account. (real small - like the minimum that was allowed.) I lost it pretty fast and went back to the demo account since I obviously needed to learn more. Eventually, I had a run of 6 weeks with zero losses in the demo account, so I put a larger amount in the real account (still small - but like $1500) and the very next week I lost 1/2 :-( In a years time I did build it back up and trippled it. Had it up to about $4800 :-) but then I lost a ton and was back to about $750. Eventually, I got it back up to my 2nd deposit... a lot of up and downs along the way, but can't seem to keep it there let alone make much profits... I still feel like a newbie. And I've been at this for over 2 years now... I did explore another demo account with another company - I forget who now, but I was so use to the Forex.com platform that I felt uncomfortable and awkward with the 2nd one I tried. One thing I learned for sure is I keep plenty of margin... I'm not disciplined with my stops, I ride waves which baby pips says only morons would do... so maybe those are some of my bad habits... I hope this helps... I really see the potential - so I'm still trying to get better. Let me know if you find any great secrets!! Also - an account manager with Forex.com advised me to practice with the same amount that I thought I might use in real money to make the practicing more realistic. vs practicing with hundreds of thousands when I knew I would only start with 1500... Not sure if that matters to anyone else. But I appreciated the advice and it really made practicing more realistic...
    Last edited by rdeming; 01-31-2017 at 12:57 AM.

  9. #89
    Join Date
    Jan 2017
    Posts
    13
    It is largely stated that 90% day traders lose money in long term. The study says that not more than 2% of the traders are profitable, net of the commission’s fees.
    It is noticed that almost 40% of day traders leave trading within a month. 87% of day traders quit trading after 3 years. 93% of day traders quit after 5 years.
    I am not sure if you will make profits in long term or would be one of those who would quit. It is right to go ahead with caution and make sure that you have vigorous risk management system.

  10. #90
    Join Date
    Sep 2010
    Location
    Cheshire, UK
    Posts
    2,210
    Quote Originally Posted by Darren Glenister View Post
    It is largely stated that 90% day traders lose money in long term. The study says that not more than 2% of the traders are profitable, net of the commission’s fees.
    It is noticed that almost 40% of day traders leave trading within a month. 87% of day traders quit trading after 3 years. 93% of day traders quit after 5 years.
    I am not sure if you will make profits in long term or would be one of those who would quit. It is right to go ahead with caution and make sure that you have vigorous risk management system.
    and 90% of brokers go bust within 5 years [at best guess of course]

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