90% failing rate , its true ?

[virtusa]

Are you trying to be a profitable trader?

Then I have a question for you: Which of the two following statements will improve your abilities to become profitable?

1. 90% of traders lose money.
2. 10% of traders lose money.

The correct answer is: neither of them improves your abilities to become profitable. Because these statements have no impact on your personal abilities/knowledge. 90% or 10% will not change you as a person.

So I never understood why this 90% is important. You will only become profitable if YOU are good in trading. What others do has no importance.
Even with only 10% of losers you can be a loser.

If all people would follow the logic "if most people cannot, it cannot be done", there would be no billionaires, no doctors, no quants, no top athletes...
There would be only "average joes".
And there would be maybe 75% less technology and medical healthcare.

 

[DepthTrade]

The success rate is 0.0003%
Success being able to pay all your necessities and having done so for years.

 

[virtusa]

The success rate is 0.0003%
Success being able to pay all your necessities and having done so for years.

Can you give the full details how you got to that 0.0003%. Because mention a number without any decent proof makes no sense.

Theoretically you need to know how many people tried to trade, how long they traded, the capital invested, the time spent and how much they lost. These numbers are nowhere available as far as I know.

Success being able to pay all your necessities and having done so for years.

This sentence makes no sense at all. Many people trade and make consistent money. But as they have a primary income from a job, their parttime trading income is not big enough "to pay all his necessities and having done so for years".
So if a trader makes every year 20% on an invested capital of 10K he is a loser because he cannot "pay all his necessities and having done so for years."?
And a trader who makes 0.1% on 10MM is a successful one? As he can pay all the bills from it.

 

[Diplogenesis]

Most of the new traders begin trading without complete forex education and fail because they are too eager to make money. I think it’s an attitude problem. They lack seriousness.

 

[DepthTrade]

Can you give the full details how you got to that 0.0003%. Because mention a number without any decent proof makes no, sense.

Theoretically you need to know how many people tried to trade, how long they traded, the capital invested, the time spent and how much they lost. These numbers are nowhere available as far as I know.


This sentence makes no sense at all. Many people trade and make consistent money. But as they have a primary income from a job, their parttime trading income is not big enough "to pay all his necessities and having done so for years".
So if a trader makes every year 20% on an invested capital of 10K he is a loser because he cannot "pay all his necessities and having done so for years."?
And a trader who makes 0.1% on 10MM is a successful one? As he can pay all the bills from it.

I will have to dig up the data if I get a chance. I came up with that estimate years ago, TopStepfx had numbers of 7/10,000 beat the combine and get/stay funded, so I am not too far of with 3/10,000

 

[DepthTrade]

Can you give the full details how you got to that 0.0003%. Because mention a number without any decent proof makes no sense.

Theoretically you need to know how many people tried to trade, how long they traded, the capital invested, the time spent and how much they lost. These numbers are nowhere available as far as I know.


This sentence makes no sense at all. Many people trade and make consistent money. But as they have a primary income from a job, their parttime trading income is not big enough "to pay all his necessities and having done so for years".
So if a trader makes every year 20% on an invested capital of 10K he is a loser because he cannot "pay all his necessities and having done so for years."?
And a trader who makes 0.1% on 10MM is a successful one? As he can pay all the bills from it.

Yeah, if after 30/40 years in this you only have 10k to play with and can not cover your bills, yes you are failing. There is more to being successful than an edge.

 

[virtusa]

Yeah, if after 30/40 years in this you only have 10k to play with and can not cover your bills, yes you are failing. There is more to being successful than an edge.

People have the free choice to do what they wish with their money. If they have a well paid job, they might prefer to continue to work and just trade to spent the profits that are coming in. If somebody makes 20% net every year you cannot call that a failure. It is not because YOU decide that people should compound instead of spending the money, that that person is a failure.
Your logic is a failure.
According to your logic, Renaissance is a failure as already many years their capital is not growing anymore. Each year they distribute the profits.

About TopStepfx:
it is only representing a very small part of the entire forex trading. So not at all representative and no reliable numbers. The fact that you can only trade with Metatrader tells a lot about the "quality" of the traders. I don't consider Metatrader as a program used by serious traders.
Serious traders don't need accounts funded by topstepfx. They trade their own money.


https://55brokers.com/topstepfx-review/

Beware TopstepFX is a Non-Regulated broker. It is NOT SAFE to trade.
️ Registered in: No Registration
️ Type of License :No License
️ Is TopstepFX safe to trade: No
It is not safe to trade with a non-regulated broker and unfortunately, this is the case with TopStepFX as well.

 

[shadybee]

Do not know about the correct number but yes maximum traders are not able to make it in forex because of lack of knowledge and think forex as a get rich quick scheme.

 

[DepthTrade]

Put it this way, if one has not

People have the free choice to do what they wish with their money. If they have a well paid job, they might prefer to continue to work and just trade to spent the profits that are coming in. If somebody makes 20% net every year you cannot call that a failure. It is not because YOU decide that people should compound instead of spending the money, that that person is a failure.
Your logic is a failure.
According to your logic, Renaissance is a failure as already many years their capital is not growing anymore. Each year they distribute the profits.

About TopStepfx:
it is only representing a very small part of the entire forex trading. So not at all representative and no reliable numbers. The fact that you can only trade with Metatrader tells a lot about the "quality" of the traders. I don't consider Metatrader as a program used by serious traders.
Serious traders don't need accounts funded by topstepfx. They trade their own money.


https://55brokers.com/topstepfx-review/

Beware TopstepFX is a Non-Regulated broker. It is NOT SAFE to trade.
️ Registered in: No Registration
️ Type of License :No License
️ Is TopstepFX safe to trade: No
It is not safe to trade with a non-regulated broker and unfortunately, this is the case with TopStepFX as well.

The whole idea of trading for most people is to be free, not achieving that is failure. I have not come to this conclusion on my own, this is from most traders.
Maybe I should not use the word failure, it seems to be a trigger for you. Your view seems to be so narrow minded, you have missed every facet of live revolving around the original goal of trading. You sound like someone who has changed their own definition of success to match their current standings.
As for TST, I was only pointing out how their numbers matched my same conclusion, having just the previous day read a thread which mentioned that, I am not basing the statement on that alone.
MT4 I agree it is garbage, but at the end of the day it can be used just to execute trades. If one is truly profitable, they should be able to mimic what they do on that platform.

 

[nodoubts]

The only reason traders lose money...emotion. If emotion infects trading decisions, based on an emotional reaction to good or bad trade outcomes, the market has won. 90% can never overcome their self-inflicted emotional interference to their trading.