98% of Traders Fail? Says Who...?

Quote from Syprik:

The father(retired) of a close child-hood friend is one of those guys that is fortunate to have a place in the Hamptons and guess what? The 50/200 cross is all he used when trading the spooz as a professional for a 24yr stint. Just in the last 10yrs, it triggered 5 productive trades (out of 6), netting in excess of +1100pts. Use a leveraged future contract rolled over 4 times a year with a decent initial outlay, increase size using "extremely" conservative position model, stay committed to the trade by meeting any margin calls after a recent roll-over and move against the new position, and you are looking at good $ down the line. This is what I do for ~70% of my retirement account.
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What kind of productive trading strategy results in margin calls?
 
The stat i read from Douglas is that 95% of futures traders don't make it. I dont know about stocks etc. Some break even, some make a little bit and the other 3% MAKE ALL THE REST.:D
 
daytrading is really hard, i tried it for 2 days and man so much volatility and its too damm stressful not sure if i wanna continue.
 
I think I read about some statistics from the Hong Kong markets that had it at 20% making money among daytraders at some point...
 
I think paid gurus like to bandy that figure around because it implies that you will need their help if you want to be successful.

When one of the day trading firms got raided in the 90's, (was it All Tech?), the NASD said that there was only one profitable account in the whole firm. But the way the report was worded made it easy to distort exactly what it said. I'm not going to google for it again, but I posted it on this site once, perhaps someone can find it that way.
 
Who knows what the failure rate is but i would bet less than 1% of traders make over a $1 million a year.

I would also guess less than 2% of traders make over 100K a year.

The rest of the profitable %, whether its another 3% or 18% dont make enough to trade for a living..

How many of the 70000 elite trader membership make over $1 million trading? I would say definitely way less than 700, and most probably less than a 100.

How many make over 100K trading? I would bet its less than 1400.

How many are net profitable? If the figure is 20% that would be 14000 of all the people who ever joined up were/ still are profitable.. Seems a bit too high...
 
This is a ridiculous thread. The percentage is irrelevant because it will have no effect on your trading.

The only important thing is: How profitable are YOU?
 
Quote from spike500:

This is a ridiculous thread. The percentage is irrelevant because it will have no effect on your trading.
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Ridiculous ?! LOL

The high failure rate just shows how easy day trading is....
 
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