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

A lot of these newbie traders had real jobs and careers before they started to hustle in wall street.

There are former IT people, accountants, lawyers, teachers, physics phd. , entrepreneurs etc other businesses...etc. some from doctors trade on the side or return to their old job. trading just is not as profitabl as their job or other business and just too much stress and no career or job satisfaction. and if they leave their old job or profession they have job gap in their resume, putting your job as daytrader looks bad on your resume if you ever decide to look for a real job again.

maybe they just quit and found a real job and trade on the side. daytrading as a 'profession' isn't what it's all crack up to be.





Quote from TraderZones:

another factor is, how many of those few percent who MAKE money continue doing so year after year?

I have seen people here on ET who declared themselves as becoming profitable traders, after a couple of successful months. Then, they seem to disappear
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95-98% is accurate and the more they trade, the more likely they are to fail.

Yet, each and every day, very bright people--most of whom were successful in their old "professions" come into the market and think they're smarter than the next guy only to eventually face defeat and losses.

It's a brutal and rude awakening.
 
YOU HAVE BEEN ON HERE SINCE 03.08. YOU, LIKE ME, ARE IN NO POSITION TO JUDGE. PUT UP OR SHUT UP, RODGER DODGER!!!!!!!!!!!! OVER AND OUT!!!!!!!!!!!!!



Quote from TraderZones:

another factor is, how many of those few percent who MAKE money continue doing so year after year?

I have seen people here on ET who declared themselves as becoming profitable traders, after a couple of successful months. Then, they seem to disappear
More...
 
Quote from rolextrader:

95-98% is accurate and the more they trade, the more likely they are to fail.

Yet, each and every day, very bright people--most of whom were successful in their old "professions" come into the market and think they're smarter than the next guy only to eventually face defeat and losses.

It's a brutal and rude awakening.
More...

ive always read somewhere 90% but these are all traders together i think that even saying statistically 90% of all traders fail is a pretty odd statement dont you seeing as how that statement is hugely interpretational ....

like how do 90% fail... its a obvious misswording with the intention to create truth from no facts in the statements own syntax....

90% of traders fail.... first of all what constitutes a trader... then ... 90% is derived how whats the sample size? whats the population size? what are the extreme E1 -3 to -E1--3 extremes outliers in the statistical data... 90% of traders fail how...? never says they blow an account ... or they give up never being profitable...? who makes the rules for the study .... and who funds it.... maybe investment firms... we are not investment firms if we are traders are we ... dont we scare the average broker? if we release a study if people are interested in trading and we are a invesment firm and we get the general public to believe it doesnt work... who does that benefit...? us right hum

i think that this wether its 90% or 95 or 98 doesnt really matter i think that if we look at the statement itself credibly i think it lacks this...

but hey thats just me i like to write my own rules.
 

if we are traders are we ... dont we scare the average broker? [/B]
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Why on earth would you scare the average broker? The more you trade, the more they make commissions, regardless of the outcome. au contraire...

The only thing that might actually scare the average broker is if everyone turned buy and hold on zero margin and refused to get shaken out above 99% DD. Of course, fortunately for the brokers, we all know that will never happen.
 
Quote from dtrader98:

Why on earth would you scare the average broker? The more you trade, the more they make commissions, regardless of the outcome. au contraire...

The only thing that might actually scare the average broker is if everyone turned buy and hold on zero margin and refused to get shaken out above 99% DD. Of course, fortunately for the brokers, we all know that will never happen.
More...

investment broker... i forget sometimes im on a trading forum :) investment broker... fund manager.... financial planner... investment companies. not trading brokers my bad
 
Quote from dtrader98:

Why on earth would you scare the average broker? The more you trade, the more they make commissions, regardless of the outcome. au contraire...

The only thing that might actually scare the average broker is if everyone turned buy and hold on zero margin and refused to get shaken out above 99% DD. Of course, fortunately for the brokers, we all know that will never happen.
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look who did the research on this and then published the findings....
makes you wonder.
 

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Quote from BullsEye:



Where do these statistics actually come from?
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It comes from the 98% of traders in this forum that bitch and complain and troll. :D

Back during the bubble these forums where VERY different and many posters where actually very helpful.

Now this place is just a bitch fest.
 
Trading futures is a zero-sum game. Trading stocks (over a short time frame) is still mostly a zero-sum game. Thus for every winner, there will be an equal and opposite loser.

If you have a system that loses consistently, just trade the opposite of it, and you will be on the opposite side of the game. (Minus the effects of commish of course, which are a parasitic drag on any system).
 
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