95% of traders fail - page 8
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No I do not think so much traders are fail .It is true the ratio of failure is high .If so much are looser than why many people are joining forex. I think all can earn some thing from forex market. Only those people are hope less who want to become rich in overnight.
Not going to dispute the %
What I do not agree with is the following sentence : "If so much are looser than why many people are joining forex"
These are the numbers for second quarter of 2013 : if we remember that there are holders of multiple accounts and that there are a lot of managed accounts , then the number of active traders trading live accounts in the US is well bellow 100.000 (a wild guess would be that there is no more than half of that number at the most). And, of course, there is a question of how many of those accounts are actually active
Trading forex is not a "game for the poor". Sorry. Without enough funding accounts are dead in record time
someone on FF regularly claims in the US its 99.6% and is repeatedly warning folks (day and night) against trading forex
maybe hes just lost too much? although some of what he says does make sense
95% traders go broke, only 5% survive - Page 20 @ Forex Factory
Why Does the Average Forex Trading Strategy Lose Money? | DailyFX
Constancy is difficult to achieve in forex, 95% seems to be right because every new trader think that forex is a money making machine.
Well, I do not think that the "in the US its 99.6%" is accurate. It might be accurate if we compare the account sizes and then only the big account holders do it profitable (which can be close to true) and only then it could be that % (a small number of big FX trading companies and big account holders with special contracts taking all the profit and the rest - the small traders - are either prevented to trade profitable or are simply losing because they take excessive risks). But somehow the math does not ad up in that case
In my opinion and I would think I could even consider myself an expert opinion since I made prime example of a retail trader who has taught themselves from scratch to profitable trader over a period of several years,and can now trade stocks, options, and Forex profitably. I'm betting the 99.6% number is fairly accurate. And you are correct techmac the numbers don't add up that's because they are skewed. Trading is very difficult but it can be very profitable. Most new traders lack discipline and knowledge to consistently make money from the markets. They want flashy charts that look like candy to their eyes, they don't care that they're totally worthless charts. They want all the bells and whistles even though they don't have a clue how to use them. And best yet there are plenty of people out there to assist them and giving up their money. So how is the data skewed I'll give you an example. Most brokerages pay some type of interest for money that you have sitting there not being used. After you give up on your blown out account and try to forget about it in a whiskey bottle or whatever. The $20 you left sitting in still earns .001% interest over six months. Guess what that account is now considered profitable over the last six months. Put that together with all the other broke drunk and sorry X traders and you end up with lots of profitable accounts at your brokerage. On the good side if you put forth the effort to learn you can make a lot of money, not get rich quick, but you can get rich. Allen
99.6% losers is an overestimation. that would mean that only 1 in 210-215 surrvives and with that kind of percentage the forex trading business would be dead for a long time
Don't think that the most important is the %
From that chart it is obvious that the number of traders is much smaller and that metaquotes and similar are lying to us (remember "millions of traders" from metaquotes? millions my ...)
Don't think that the most important is the % From that chart it is obvious that the number of traders is much smaller and that metaquotes and similar are lying to us (remember "millions of traders" from metaquotes? millions my ...)
That is a classical marketing : they want you to believe that you are the only one left that is not trading. There were always lies like that (about the number of active traders). What do you think why is metaquotes selling magazines among other things for goods sake?
That is a classical marketing : they want you to believe that you are the only one left that is not trading. There were always lies like that (about the number of active traders). What do you think why is metaquotes selling magazines among other things for goods sake?
According to Reuters (and they have the biggest interbank FX traffic) the number of participants is falling all the time. HFT reducing the number of possible ways to trade