Forex Trading Statistics

M

MONEY4NOTHING

I am writing an article on forex trading success statistics on my website. Most websites say 90% failure is a fact:

http://seekingalpha.com/instablog/4...pelling-the-myth-of-gambling-in-forex-trading

http://www.fxstreet.com/education/f...ould-know-about-forex-trading/2006-06-28.html

Does anyone have any links to authentic statistical report (from brokers or analysts) that proves these numbers? Or is this all based on hearsay and personal experience at losing? I am not looking for strategy of 5% winners, but just support for the "90% losers" fact.

Thanks

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this is a phrase similar to 'we only use 10% of our brain' but even at 50% lose, it still
means that a Lot of people lose and i'd go with the 90%. i remember a quote from the
owner of a futures ib saying 'eventually everyone loses', most traders have blown their
account at least once, some do it regularly but are still overall profitable
you may find the following book at your local library or via interlibrary loan:
'The Futures Game: Who Wins, Who Loses, & Why' Richard Teweles and Frank Jones
originally published in 1974, 3rd edition Nov 1998
http://www.amazon.com/Futures-Game-Who-Wins-Loses/dp/0070647577
 
A few months ago one of the retail forex brokers was going public and provided some insight in their prospectus. Unfortunately I don't recall their name. But they made it clear in their statement of risks that their success depended on continually replacing existing customers as the losers closed their accounts.
 
Quote from Hurricane:

A few months ago one of the retail forex brokers was going public and provided some insight in their prospectus. Unfortunately I don't recall their name. But they made it clear in their statement of risks that their success depended on continually replacing existing customers as the losers closed their accounts.
More...

Are you talking about GAIN Capital...here's the link:

http://www.hoovers.com/freeuk/co/secdoc.xhtml?ID=159862&ipage=6781324-91614-192756

There's a gem of a quote in there: "Our customer base is primarily comprised of individual retail customers who generally trade in the forex market with us for short periods." I wonder why they trade only for short periods!

It still doesn't say anything about customer attrition due to losing money though.

Anyone else have any further information?

Thanks
 
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