how long can be a daytrader???
- Thread starter jackeyli
- Start date
99.9999% of daytraders starting out in the business lose money their first year. Only 2% of all daytraders that have been in the business more than a year make money consistently. The odds are really against you in suriving in this business. I personnally think the only people making money in this business are people running their own groups and taking commisions out of all the people they bring into their group.
And you can provide some sort of verification of these stats vs. your personal opinion?
but most of these groups dont charge deposites right? thus they would still have to be at least marginally proffitable... i respectfully disagree subban, i think ur figure is skewed to reflect pessimism...i think the figure, in rerality, is close to being on par with any other kind of start up or new business venture success rate...additionally, this figure applies to guy with money who decides hes going to be a retail trader and make it from home...i do not think this applies to prop desks/firms(as opposed to ''pro'') whereby you are hired and paid to learn to train because of the firm's perception of your innate proclivities and accumen...which is how i got into this business...thus i think your figure is irrationally pessimistic and presents an innacurate picture as to the survival stats of this business...
This is my personal opinion. And I am trying to describe solely equity daytrading shops in general. Just because a shop doesn't require a deposit it does'nt mean they are'nt making money of you in churning commisions and making you trade while you the daytrader breaks even or makes no money.
Maybe in futures or options you have more volitility and there fore you have a better chance to make money. But in daytrading equities its a tough business to make money.
This is my personal opinion. And I am trying to describe solely equity daytrading shops in general. Just because a shop doesn't require a deposit it does'nt mean they are'nt making money of you in churning commisions and making you trade while you the daytrader breaks even or makes no money.
Maybe in futures or options you have more volitility and there fore you have a better chance to make money. But in daytrading equities its a tough business to make money.
Of course it is....but there are plenty of highly successful equities prop traders, believe me.