I think one reason is that a lot of brokers (partially intended) use marketing ads that will attract people that want to get rich quick, which make them an easy pray for experienced and skilled traders who are disciplined and put a lot of effort in becoming what they are. This seems fair to me. In Austria we say SSKM “Selbst Schuld kein Mitleid” (engl. OFNP - own fault no pity). But what do i know i am just a Noob ;-), Nevertheless, i am determent to work hard to be on the winner’s side, i will stick to my demo account til the market judges that i am fit for live account. Will the pips be with me :-D.
I got question about synthetic lock… I got if I open the transaction that takes more than 2 minutes and decide to put the lock, this lock doesn’t break the rules, right? Or synthetic lock is a lock that opens at the same second with a single transaction?
Many of the traders lose because they came here without any knowledge and experience related to the forex market. This is the main reason behind their loss. When they lose they told everyone that forex is not a right platform for trading. They don’t lose because of forex they loses because of lack of knowledge.
And rushing. I no other career would people expect to make a fortune (relative to their investment) in their first six months. I targeted not losing money in my first year!
About what I’ve heard too. Percentages are a tricky statistic for many it seems, including 100% of journalists.
My chosen firm said a while back they found at any one time about 75% of their clients were profitable, and that’s what they also heard from academic studies.
But there’s that key detail that’s always missing - profitable over what time period? - a month, 3 months, a year, since records began?
Meantime I’m happy to go along with 75% of active traders are currently profitable.
Depends if we’re counting people who try it for a few months as traders. Surely over 75% of traders who have been doing it for, say, more than three years are profitable. Otherwise, WTF?! Under that time, I’d be surprised if it’s as high as 75%.
I can’t help it, but I really am amazed that people are still pondering on this issue on a thread that is already over 12 years old!!!
I mean, what is the point? The only issue is: are YOU profitable, and if not, why not? and what can you do about it?
The fact that so many others might be losing is totally irrelevant. We started a thread recently with Eddieb about what makes a successful trader - and it died almost immediately. If people are only interested in post mortems on failure then why bother trading at all… except that you can keep on posting here for the next 12 years…!!
But if you are really interested in trading then get a grip and sort it out - there is more than enough info here on BP and more than enough veterans to pester!
Part of the new ESMA rules requires that brokers now publicly inform how many retail traders lose money.
Having browsed through the home pages of a number of brokers, they all now say something like:
_"CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% of retail investor accounts lose money when trading CFDs with ______"
Manxx is right. Now all firms catering to EU clients have to state clearly to potential new retail customers how many of their retail traders lose money on their offered products. They all seem to range from 75% to 80%
Some catering to EU clients with EU/UK licenses have still not updated their websites. I suspect they will have to do that soon.
More than ninety percent of the traders fails on the forex market. The reason behind their failure they came here without having some knowledge about the market. If you don’t have some knowledge about the market how can you imagine the success on that platform.
What about the people who have alot of knownledge and still fail? Id say that people fall inforex because they personalize what the market does. People truly believe that the markets next move will be based on what happened hours ago, which is simply not true. My trading isnt perfect but it has improved because of me taking less complusive positions.
Only those traders fails on the forex market who don’t have knowledge and experience about the market. They also don’t have some good plans about what to do on the forex market. Because of these things they won’t make themselves a successful trader and start blaming the market.
The stat could be a little high but overall its in the right range. People need to know that forex is a very dangerous place. I hope that you will know this before investing in the market. There is no define way to avoid losses. The only thing you can do is bounce back from them.
Right. Forex trading is complex if you ask me. If you come thinking that it is child’s play then you’ll get overwhelmed and feel baffled which will further add to your confusion. It is better to have a well-conceived plan and stick to it. Do a thorough research prior to entering these markets and have at least some idea about how they’ll be managing their money and risk.
Many of the traders loses their money when they comes to this platform. The reason behind it is that they don’t have some knowledge about the market because of which they don’t know how to keep your move in a rightful way. If you don’t have knowledge and experience about that platform than there is a huge possibility of making mistakes which any trader can’t afford.
Yes this is absolutely true that more than 90% traders lose money in the forex world and most of the traders quit trading in the first year. Success ratio is very low in the forex world, and it is not so easy to make money from here. if you don’t have knowledge and right skill set than you can’t get success here.
No doubt ratio of looser is more than successful traders. It is due to many reasons skill of trading is important of all this skill is blend of learning and experience. I want to be in list of profitable trader so need to learn and plan well according to market so that I can interact it is best way.
