Here's real verifiable proof 90% lose

Quote from Dissident:

This should open some light on the 90% lose. This is the only time I have seen a real case about it.
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I don't think anyone really doubted the number.......so go find another profession, stud.
 
There is an important stat worth bringing up. Left off of this list are accounts that have sub accounts (usually for auto trading OR the trader has incorporated).

Out of appx 15 personal active accounts on that list:
-9 are positive
-6 are >$100k profit
-2 are >$400k profit

These stats are way better than normal, because they are the more experienced traders who treat it as a business rather than hobby.

I'll also add, I still trade with these guys and their new firm. They got screwed by the SEC, I don't fault them for that.
 
Quote from Anaconda:

No, people avoid the Series 7 for other reasons, not because they could not pass it. Maybe some could not pass, I don't know. I'm sure some did not feel like wasting the time nor money. Others just don't want to deal with the added regulations.

Those statements are a good representative of the average "prop" firm.
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I disagree, I wish Don Bright would post actual numbers so we could see for sure but I would not consider Tuco a "prop shop." Obviously the SEC doesn't either. :)

While even at prop shops I would agree that the majority lose, I think the real prop firms like Bright and Echo have a lot higher quality guys than Tuco had. Tuco was some sort of hybrid retail and semi-prop outfit, I'd call them a 'chop shop' insteat of a 'prop shop.' I think these numbers look more in line with small retail traders than normal prop traders.
 
Isn't it a fact that most attrcted to trading are lives losers? Those who just couldn't make it in another job? Losers and the lazy are overly attracted to trading like moths to flame. In fact if you LOVE trading you will lose. Terrible but true.
 
Quote from monti1a:

Given enough time, 'almost' anyone can be a consistently successful trader. I am proof of that.

In it's simplest terms, an EDGE and DILIGENCE is all you need.

Fortunately for me, 90%+ will GIVE UP when the going gets tough.
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what is enough time? there are people who have been wildly successful in 5 years raked it in, and proceeded to lose it all in the next 3 or 4

If u have not made money consistently for 10-15 years MINIMUM, dont think you have made it YET. they can still get you
 
Quote from Dissident:

With Tuco being shut down and their case brought to court, their accounting books are now public information. I have found the trader list for all of 2007 and you can see the PNL for all the traders. The names have been left out for privacy.
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WHY HIDE THE NAMES - HERE IS ALL TO SEE - ENJOY - 6MG FILE NAMES STARTS ON PAGE 28 UNTIL 56 :cool:

http://www.tflinc.com/media/ExhibitA_part1v2.pdf
 
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