95% are losers

O

oldtime

I've always had a hard time with this anecdotal statistic

95% are losers

it took me a while to get my mind wrapped around it

they are not talking about people like you and me

they are talking about the guys that subscribe to chat rooms

they are talking about the guys that watch late night infomercials and pay for books on real estate

they aren't just talking about 95% of traders

they are talking about 95% of humanity

so yes, 95% lose

that is why they are not traders
 
Quote from oldtime:

I've always had a hard time with this anecdotal statistic

95% are losers

it took me a while to get my mind wrapped around it

they are not talking about people like you and me

they are talking about the guys that subscribe to chat rooms

they are talking about the guys that watch late night infomercials and pay for books on real estate

they aren't just talking about 95% of traders

they are talking about 95% of humanity

so yes, 95% lose

that is why they are not traders
More...
they might as well be talking about 95% of sports bettors

or 95% of people that start pet stores

they might as well be talking about people in High School that end up failing at what they dreamed they would be doing someday when they were going to high school

so, it's just sort of like an anecdotal statistic

95% fail

don't matter what really you are attempting

they could have just said, "95% end up doing something for a living they never planned for."

Show me that kid in High School staring out the window dreaming some day he would be a purchasing manager for a box store.

almost nobody ends up the way they thought they would

but it's kind of bad rap on trading just because most fail

most fail at anything they try

but when it is going bad, don't let that "95% fail anecdotal statistic" discourage you

they are not talking about people like you and me

they are talking about total dumbasses

and they post here all the time on ET
 
the problem with trading is

it is very difficult to add value along the way

and that is how most business becomes successful over time
 
Quote from oldtime:

the problem with trading is

it is very difficult to add value along the way

and that is how most business becomes successful over time
More...
but then again, Warren Buffet never added one penny of value

He just bought it
 
at any rate, I consider myself to be just an average man

but at some point when they start throwing out statistics like "95%"

you just have to admit

well yes, 95% are just failures

that's the way God decreed it

same with Darwin

it's what is neccessary to keep the whole deal going

so then on a bad night during a bad week after a bad month in a bad year, you have to ask yourself, "Does the top 5% rotate?"
 
just something to think about

haven't updated this since 2010

but back then

15% beat the S&P

of those that did, 50% beat it 3 years in a row

and 5% beat it consistently over 5 years

so if you are one of the ones who beat it 5 years in a row, you can truthfully say, "95% are losers."
 
i am tired of this baseless 90% trades lose statistic like someone went and surveyed all the traders.. and survey year after year to see if they are still in business or not.. how the hell does anyone know what is the true % of traders that do make it... reading posts on ET, it makes me think most on ET do make it in this gig :)
 
Quote from mspkash1:

how the hell does anyone know what is the true % of traders that do )
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It's simple,actually.Thats because 5% of folks holds 95% of wealth.Simple,isn't it?
 
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