Maybe those just stay quiet are doing well and stacking profits? What’d you say?
Maybe you’re right on that front. But the statistics are pretty clear that trading is difficult and most people can’t do it.
Brokers constantly report 75%+ of accounts lost money over a 3 month period. Realistically you’re looking at about 10% who are consistently profitable.
I’m not sure if this number is high or not. I doubt 10% of the population could do my job, so maybe it’s easier than that. But definitely not easy
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The Director of the FCA, giving evidence to the UK’s Parliament, last year, said that figure’s under 1%.
And they’re supervising probably the world’s best-regulated accounts, so that figure can surely only be lower anywhere else.
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Hard to know? Maybe. This is kind of what I was asking.
Wow. I thought 10% would be a high estimate, but less than 1% is very telling. I guess the motto here is to be the market maker
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I think that in a way it’s also a misleading figure, though, John.
Nearly all those who become steadily profitable switch over to futures so they can avoid counterparty betting, avoid paying spreads, have a genuine broker who prefers them to win than lose, combine higher leverage with solid regulation, and other advantages.
So that probably keeps the “forex success figure” artificially low. It must, logically, really?
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Clear indicators and instructions.