Have I proved wrong the Rule of 90/90/90 or not? 🙂

Sounds like a good plan.
I hope you will continue to let us know how you are getting on… :slight_smile:

1 Like

Sure Manxx. I would try to post it in my Progress thread. But, as you know, very few of BP members do have interest in such type of activity or postings.

Hi @anon58863749,

We have yet to find any reliable study behind the “Rule of 90/90/90”, 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.

First of all, I would like to thank you for reviewing my post / thread.

But you should correct to yourself first. it is not the people rather the brokers’ agents or their Educators who started to quote the said so-called rule in their Webinar or Courses.That’s why the so-called rule become so popular and are being quoted by the general public in every forum because people judge them very well informed and educated persons.

If you haven’t find any reliable study behind the said rule and the said so-called rule seems to be nothing more than another example of people misrepresenting statistics and spreading these misconceptions to others, then why are your Educators spreading these false misconceptions at every platform.

Thanks for providing the statistics of CFTC which you reported on quarterly basis to them. I observed from your stats that the unprofitable clients percentage was almost double than the profitable clients.

But you didn’t tell us what was the percentage of your clients, who left you after being unprofitable during these 90 days time. Did you ever analyze it or not?

I know it very well - but thanks again for informing me. But I couldn’t understand as to what was your moto to expressing or advising all these thing to me?

I simply ask this to the community.

Hi again @anon58863749,

It’s important to note that we are not connected to the people (we would not call them educators) spreading misconceptions about this so-called 90-90-90 rule. What do they have to gain from misrepresenting the real statistics? Perhaps it helps them to sell their courses to traders.

When I said ‘YOU’, I was talking about the whole community of Brokers and not only to you.

You only responded to my one question :slight_smile: - what about others?

Whilst I, and I am sure others, appreciate your comments about this so-called rule, the point of @anon58863749’s thread is not to explore its accuracy, or its origins, or even its relevance. There are more than enough threads on BP about how many traders lose and why…

What he would really appreciate are serious and constructive comments concerning his demo trading progress outlined in the OP?

1 Like

This is what my current standing at Dukascopy Trader Contest during the month of August, 2018.

2 Likes

You can’t prove or disprove that principle on a trader sample of one. So no, you have not proven or disproven it.

No. Firstly the rule is for live accounts. Secondly 90% fail means 10% succeed so even if you did you’ve just proved it right as you could be one of the 10%. Just for advice: God, faith or hope will not help in trading. Plan your trade and trade your plan. Don’t mix the two. Best of luck. Start a thread when you open your live account.

That was uncalled for. Get your mouth under control.

For a newcomer, who has been here for exactly one week, you’re a bossy little fellow, aren’t you.

1 Like

Thanks @Rickster99 for enlightening me about the said rule.

Should I consider it as a compliment from you?

No bro … if you don’t have faith in God or on yourself too, you won’t be successful in any field of life including trading. And my friend, “hope, desire or wish” keeps us motivating and help us in achieving our goals or targets.

Perhaps, you have heard the phrase “Where there’s a will - there’s a way”

Thanks for your advices and well wishes.

Thanks for your opinion @Mrakun777.

You really are strange. Read the title of this discussion. You have asked a question and I answered and gave a reason and said it’s on a live account. So why then would I be paying a compliment- to clarify I’m not. When you do it live I’ll compliment you.

Clint I’m not going to give wrong advice to someone who is trying to succeed. I’m not going to sugar coat how difficult trading a live account is to become consistently profitable. You may do that and it’s up to you. Dont have a go at me for trying to give real advice.

Now I’m not a religious person, but I am spiritual. You can’t tell people that having faith won’t help in trading. If you don’t have faith in yourself then the person trying to learn how to trade will eventually give up altogether or will get placed in the 90% that fail. Like what Clint said earlier, you must have faith in yourself always. It’s about staying motivated to learn what you’re supposed to learn until you get it, consistency

:laughing: … don’t take it so serious man. I was just kidding :wink:

It looks to me that you didn’t check / view My Profile. Otherwise, you would have known that I am not a newbie and I do have experience of trading on Live account as well.

@Clint didn’t give any advice either wrong or right to me neither he used any word of sugar coating.

90/90/90 pure BS, live and/or demo

almost 6 months of demo trading, is it time to go live yet? :thinking:

God will actually help you become a better trader…how do you think I got where I am? :wink:

Where did I say that I am thinking to go live after my almost 6 months demo trading? Rather I responded this:

And this

It is our habit that we all remain in hurry and don’t bother to read / listen the whole conversation. And it looks that you also did so.

I am trading since seven and half months time after joining BP. But I had also traded on Live account in Stock Market from 2005 to 2010. I have also used various Demo accounts for forex trading in the past.

Although your said sentence is depicting a taunting tone, yet I would thank you for this. I don’t know why few people irritates with the word “God” with regard to trading. I don’t want to indulge myself in a religious matter because this is not the right place, otherwise there are so much to say on it.

How may I get it when I know nothing about yourself. But You are welcome here to share your trading journey. Perhaps, it would be helpful to the novice traders and it would inspire them to follow on your path to become a successful trader.

1 Like