The generally accepted stats are thet 90% of retail lose 90% of their account within 90 days
.
So 10% are not losing 90%
Around (say) half of those never really trade - so 5% are making money ?
They will “Hang around” for say 6 years - ie overall 30 % will be profitable over a year, taking into account that all those “Busted” will not be there in year 2 to be included in the statistics.
SO I see no discrepancy between the figures - Please explain where I am wrong ?
If that’s the case then why do baseball teams put in a left handed pitcher to face a left handed batter in critical late innings? Stats say batters are worse against the same handed pitcher, but according to you, thats irrelevant how well other left handed betters do against left handed pitchers. Yet professionals rely on data for decision making every day.
Stats are data. If you think data is useless, that’s your call. But for me, data is king
There is no exact statistics of this. But if we talk about for a longer period of time. It will be around 5% or so. Success is the combination of many years profitable trading. In forex trading you need extream discipline. Actually for any successful business you need some kind of discipline. This is where most people fail.
Forex traders all are not profitable traders. Ratio of successful traders is less then 30% . As in all business all people not show same performance . Same like it in forex all brokers and all clients are not same . Although forex is a risky business even then too people work here with their own interest and they make reasonable earning.
I think the point is that time frame makes a huge difference. There are 30% of traders profitable each quarter at 2 confirmed brokers in the US. Its confirmed because its a required disclosure as part of the regulations. But can those same 30% of traders that are profitable in 2Q’18 be profitable for all of 2018, or from 2018 - 2022. that’s the real challenge.
Others have explained how data provided by brokers is not necessarely a representation of reality. I believe it is true that 95% of traders fail, but that’s not supposed to be discouraging. New businesses are built and destroyed every day, resembling almost the same percentages of startups that actually make it. There are millions of traders: 5% is a lot of people. Almost too many.
I’ve seen various statistics. According to some sources, 1% of traders make money in forex, accourding to others it’s 5%. It’s not clear where they get information from, so these data are unreliable.
