Read a post that 90% of New traders loose 90% of their capital within 90 days. So I just survived my first 90 days and did not loose my capital but made 1% of my capital. So am just celebrating my little success. Hope to trade for life.
Congratulations. I hope these turn out to be the worst 90 days of your trading life! (in other words, that it can only get better and better! )
You’re one of the 24% (on average) that make profit in trading! Congrats!
Hi @XT,
We have yet to find any reliable study behind the “90/90/90 principle” you mentioned, but people continue to mention it on forums as if it was a proven fact. Unfortunately, this so-called rule seems to be nothing more than another example of people misrepresenting statistics and spreading these misconceptions to others: Divorce Rate: It's Not as High as You Think - The New York Times
In the US, forex brokers are required to report client profitability stats to the CFTC every quarter, which is approximately every 90 days. Below are the stats FOREX.com reported to the CFTC for the past year:
For the calendar quarter ending June 30, 2018, there were 34,000 active non-discretionary
trading accounts of which 38% were profitable and 62% unprofitable.For the calendar quarter ending March 31, 2018, there were 35,139 active non-discretionary trading accounts of which 28% were profitable and 72% unprofitable.
For the calendar quarter ending December 31, 2017, there were 33,885 active non-discretionary trading accounts of which 33% were profitable and 67% unprofitable.
For the calendar quarter ending September 30, 2017, there were 34,138 active non-discretionary trading accounts of which 32% were profitable and 68% unprofitable.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Congratulations on your early success! You beat the odds but not by as much as you thought.
Good to know some actual statistics. In my opinion trading is not as difficult nor as simple as most people say. It is a profession and for every profession the longer you are in it the more experienced you become. Usually your experience should translate to more profit. So am not looking to double my account in one week, I just want to be in the game for decades.