I’ve often thought about this stat and whether it is true or not. I’ve come to the conclusion that it probably is right on target. I haven’t come to this conclusion based on any empirical data that I have been shown but I started to compare the 90% stat to people working in the “real world”
I don’t know if it is exactly 90% or not, but a large majority of workers I know are just going through the motions. Their bosses don’t need them to “succeed” they just need a warm body.
I think what makes forex and financials different is that if you can’t perform the job well, then you have immediate feedback in the form of lost money. In a real world job a worker can literally go years without doing any real work and still received a paycheck.
Therefore, I’ve come to the conclusion that it’s not because forex is “hard” that most people lose, it’s just that most people never really try. I think it really puts into perspective the 90% stat. And kudos to you who are trying.
Not sure how to take your question. Are you going somewhere with the question or are you just blatantly being condescending? Nevertheless,. . . I have. . . many . . . and for many years. . . but have you ever actually executed a trade?
@3Bar
Mate, i think it’s highly likely that the figure is higher than 90%
I’ve heard 95%
but i also thinks it’s highly likely that it’s not dead on 90 or 95% it’d probably be something like 93.274% or something weird like that
it’s also likely given the amount of people exiting and entering that the figure would also be changing slightly
as for forex is hard
NO… NOT HARD
FOREX IS SPECIFIC
but further to that , People are lazy, they are greedy etc
and this accounts for a very very large portion of trades
so yeah, the figure is pretty accurate and is not suprising at all
I’ve taught these people forex in the past, all but a few, they give up.
and they usually give up when i give them the reality of … they have to study for around 6 months to a year or maybe more before even going live and making a cent
now. if you tell someone who wants to be a mechanic
mate you have to study at TAFE for 4 years in an apprentiship
he’ll be like “cool, let’s do it now”
but ask someone to stufy 6month - 1 year and then mostly like be profitable, at least to the point where they can make $1,000 a week from forex
and they give up hehe
STUPID HUH
Making money on forex is not hard. People do it all the time.
Making money consistently on forex is not hard. But it does have a high skill requirement.
Just like the high skill work performed by surgeons, lawyers or accountants, trading becomes fairly routine for those that have the skill-set mastered, while still seeming hopelessly inaccessable for those that don’t.
Or so I’m told. I make no claim to be at that place myself.
it’s a skill, but if you don’t have it things seem hard all the time
if you do have it, it’s just a set of stuff you do all the time.
for me, i just follow my flowchart all the time
in a way it’s boring, in another way i’m glad that it’s not stressful anymore
