95% of traders fail

trevman 2007.05.01 14:27

... we've all heard it, and if oandas trade book is correct http://fxtrade.oanda.com/resources/trastats/positionsummary.shtml 95% is pretty accurate

rajautara 2007.05.01 15:42 #1

it seems that we are stuck in a very high risk games...my goodness..

are we in a correct direction to rich?

riffster 2007.05.01 15:56 #2

True Dat..!

I use to be customer service rep for IBFX. ( please don't hate me, lol... ) Some nights when it was slow, I would surf the server and look for accounts that were "net positive" from the time that they were first opened. I never found one...... so yes, I would say at least 95%.... Maybe we should all get together and just open a broker...? lol....

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Arup Nag 2007.05.01 16:24 #3

But surprisingly you will find so many self claimed successful traders in this type of forums.

nicesurf 2007.05.03 02:39 #4

Yes that's correct !, many people here left their offline job because they can make a lot of money from forex.

Nic

riffster 2007.05.03 02:46 #5

Yes, I agree that we have a lot of profitable traders in this forum. I was just trying to point out that you won't find a lot of profitable traders using market makers. We have all moved to ECN's... The "dealing desk" model wasn't designed to help traders make money... just brokers...

Personally, I know of more than 20 full time traders that make a steady living at this, so don't give up hope... just trade smart...

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linuxtroll 2007.05.03 03:53 #6

riffster:
Yes, I agree that we have a lot of profitable traders in this forum. I was just trying to point out that you won't find a lot of profitable traders using market makers. We have all moved to ECN's... The "dealing desk" model wasn't designed to help traders make money... just brokers... Personally, I know of more than 20 full time traders that make a steady living at this, so don't give up hope... just trade smart...

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