either way though it doesn't matter. stats are stupid. if you apply logic to trading you can make money. period
About the 95% statistics. Just a question
- Thread starter Canados
- Start date
This is a subjective matter and relates to human psychology. The amount of profit or loss can differ from person to person.
Breaking even might be profitable to one person, while it can be a loss to another. Earnings can differ, I may be satisfied with a marginal win, while someone else may want more.
It depends on the traders' satisfaction and mind set. There are many businesses out there, but just because a business exists does not mean that it is successful. Many factors are at play when it comes to a successful business like hard work, attitude etc. Same thing with trading.
Enjoy trading and the results will come.
Breaking even might be profitable to one person, while it can be a loss to another. Earnings can differ, I may be satisfied with a marginal win, while someone else may want more.
It depends on the traders' satisfaction and mind set. There are many businesses out there, but just because a business exists does not mean that it is successful. Many factors are at play when it comes to a successful business like hard work, attitude etc. Same thing with trading.
Enjoy trading and the results will come.
Let me repeat something. Over 50% of our traders have been with us for 5 years (obviously not "losers").
Big difference between those who "try" trading, like they might "try" real estate or flipping houses. Trading sounds "sexy" and, much like gambling, everyone thinks they have an "edge."
Now, for those who actually get involved to a level where they want to make a living trading, it's a whole different story. It's a tough game, takes time, capital, and a lot of effort. Even with this, much like any other business (and trading is a business, no other way to look at it), there is a big failure rate. I agree with the 90+% for those who dive in and stop. I think that those who work hard have a much better chance, and success rate (again, as in any business).
This is not me saying anything about "retail versus professional" - there a lot of retail traders here who work really hard at their "business" and do well. This is an overall assessment of the business as I have seen it over 30 years. This is not any sort of inducement to join Bright or anything. I have been involved in many business ventures over the years, some worked well, some were disasters, LOL.
All the best,
Don
Edit: Before anyone gets into the "newbies" - just for the record, if 90$ of all business ventures fail the first year, we have over 50% of our people here the second year. I'm not trying to get into a "contest" here, just relating information.
Big difference between those who "try" trading, like they might "try" real estate or flipping houses. Trading sounds "sexy" and, much like gambling, everyone thinks they have an "edge."
Now, for those who actually get involved to a level where they want to make a living trading, it's a whole different story. It's a tough game, takes time, capital, and a lot of effort. Even with this, much like any other business (and trading is a business, no other way to look at it), there is a big failure rate. I agree with the 90+% for those who dive in and stop. I think that those who work hard have a much better chance, and success rate (again, as in any business).
This is not me saying anything about "retail versus professional" - there a lot of retail traders here who work really hard at their "business" and do well. This is an overall assessment of the business as I have seen it over 30 years. This is not any sort of inducement to join Bright or anything. I have been involved in many business ventures over the years, some worked well, some were disasters, LOL.
All the best,
Don
Edit: Before anyone gets into the "newbies" - just for the record, if 90$ of all business ventures fail the first year, we have over 50% of our people here the second year. I'm not trying to get into a "contest" here, just relating information.
Just like any other job, it takes time to become proficient. But with trading, it also takes capital to live on while learning the job.
How many aspiring traders have both?
Probably less than 10%. The rest make up the 90% losers figure.
How many aspiring traders have both?
Probably less than 10%. The rest make up the 90% losers figure.
The higher success rate with Bright, is probably because people joining such a firm have more serious intentions than the average retail trader at home; also being surrounded by professionals makes a difference.
What I mean by "obvious" (can't answer for sungong, LOL), is simply that people don't tend to continue funding a losing venture. And, we as a Company, have strict guidelines for additional capital contributions. It doesn't do us or the trader any good if they continue to "re-fund" an account. We have had to pull the plug on several over the years ....of course they end up somewhere where the owners probably don't care how much they lose.
Don
Valid point, and it's kind of interesting (to me anyway), how the level of new trader has improved since the advent of licensing requirements. Not that licensing has anything to do with trading, but it seems to have brought on more serious people.
All the best,
Don