95% of Forex traders lose money: myth or fact

I think the number is wrong. According to statistics 95% of casino goers and sports gamblers lose money so how can that same stat apply to Forex? if you go on the myfxbook and look at alot of the systems on there you can see thousands of people making money through profitable systems so i’d say the number is more like 80% of people loose money not 95.

So in general thats 200 in 1,000 people make profit from forex which seems about logical to me

I live in a casino town that has billboards advertising “97% payback on slot machines”. How can 95% lose if there’s 97% payback?

only a few people receive that 97%.

In reality, almost every person that plays slots receives back what they put into it, if not more, but still walk away empty handed.

It’s a cute little math trick. And a casino can actually claim losses off of it, while netting tons of profit. And it works almost the same in forex;)

The Four Myths of Forex Trading
This was taken from a reference I have in my collection of material. It was written by a Professor in Bucharest Romania.

  1. Forex can make you rich
    Think about Forex as a journey not a destination. The gain on each trade is a small step in the direction of his/her long term goals,

  2. The Forex market is rigged
    The only person responsible for your poor trade performance is yourself.

3, The Forex market moves in a predictable, scientific way
Anyone who tells you that they have the market cornered with predictions or a single formula is just as crazy as those people who tell you they can win the lottery by scientific method.

4, The experts know best (they always win)
News flash: even the world’s best traders are right only half of the time. Think about it - a trader can be a loser half of the time and still be considered an expert. :upside_down_face:

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IG did a blind survey of all clients accounts recently.

They found ONE FACTOR that separated winning clients from losing clients

Winning clients CUT LOSSES and rode winning trades
Losing clients CHASED LOSSES

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