90% traders don't make it???

monistat7 · Jul 27, 2005

Quote from mrfong8:

i trade in a prop firm.... it hasn't been long.... but there is recruiting going on all year.... i have already seen more than 200 ppl that enter our firm's traning since i came....

if you were to tell me only 5 or 10 of us ( including myself ) will still be here after 2 years i wouldn't be surprised

that's about right..... NOT 10 % of existing traders make money...... more like 10 % of ALL the people that ever entered the daytrading business survived after a period of time ....... i think that make more sense

your shop sounds like worldco. get out before it blows!

at my day trading shop, out of all the newbie traders that have joined within the past 2 years, only 45% are still trading and only like 20% are regularly breaking even.

nitro · Jul 27, 2005

Quote from Ripley:

The facts are facts and the man knows what he is talking about since he owns a brokerage.

What facts are you talking about? You claim you are on time to do 3000 RTs YM/M in another thread and you are buying videos on eBay about trading futures online?

nitro

VictorS · Jul 27, 2005

okay, it is 2005. how many people have posted in this thread. how many were registered in 2004 and 2005. what happened to all those that registered in 2003 and before? have they all changed their handles or are they ex-traders?

union1411 · Jul 27, 2005

why do people daytrade? it's not that hard to get into a top mba program (my current path) and shoot for an IB firm, assuming one is reasonably intelligent. the idea of paying some firm so i can trade is weird to me.

but hey what do i know . . .

Ripley · Jul 27, 2005

Quote from nitro:

What facts are you talking about? You claim you are on time to do 3000 RTs YM/M in another thread and you are buying videos on eBay about trading futures online?

nitro

No. Its a video that I already watched and it has a good disscusion about the effect starting equity has on the survival rate.

I think you should watch it.

Ripley · Jul 27, 2005

Quote from union1411:

why do people daytrade? it's not that hard to get into a top mba program (my current path) and shoot for an IB firm, assuming one is reasonably intelligent. the idea of paying some firm so i can trade is weird to me.

but hey what do i know . . .

OK big shot. We trade because most of us have never been to college. Does your MBA program take people that didn't go to college?

traderob · Jul 28, 2005

Quote from Ripley:

People who begin with $50,000 in their accounts have a survival chance of 50%.

You can't get much better than those odds in this business.

You have no idea.

traderob · Jul 28, 2005

Quote from Ripley:

I was talking about futures, or when it transferred to equities, people with a lot of buying power.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=4524024586&category=378

Wasendorf discusses the starting equity and survival chances in detail in this video.

I

t gets worse, he believes in videos from 'traders'. I bet the vendors love you.

Ripley · Jul 28, 2005

Quote from roberk:

You have no idea.

Maybe it was $ 500,000 starting equity?

But I swear to god that it was a initial account balance of $ 50,000 to trade 1 contract.

......................

Why should it matter if 90% or 900% percentage of traders fail....Doesn't it only matter whether or not if you are going to be sucessful?

union1411 · Jul 28, 2005

Quote from Ripley:

OK big shot. We trade because most of us have never been to college. Does your MBA program take people that didn't go to college?

I find it hard to believe that most you have not been to college. Did you conduct a survey of the forum or something?