How many traders are actually making a living?

[Money Trust]

How come you were accurate but didn't make money? It doesn't make sense. Sounds like you were accurate only some of the time and when you were wrong you paid out more (poor risk/reward).

I couldn't make money consistently because my execution was usually poor.

 

[heavenskrow]

I'm still working a full time job as my 1st "go" at trading for a living failed.

But after failing, and realize I still want to do this for a living, I am currently managing a full time job while trading in the morning/overnight when I am free.

Right now my equity curve has shifted from roller coaster to a smooth up direction. (Might just be temporary due to pick up in volatility-an environment I thrive in)

This is with 1-2 contracts.... Once I double my current account balance, I will shift to 2 contracts every trade, and keep doing what I am doing.. I am trying to maintain a positive outlook, and never complacent, always humble. Stick to gameplan and let the chips fall where they may.

 

[Money Trust]

How come you were accurate but didn't make money? It doesn't make sense. Sounds like you were accurate only some of the time and when you were wrong you paid out more (poor risk/reward).

I realized that I didn’t tell the whole story in my initial reply. Yes, I tended to be highly accurate but the main reason why I didn’t make money is because in the majority of instances, I’d talk myself out of taking the trade. There were times when I’d literally call the top or bottom tick in a move but would convince myself not to take the trade. I called the oil market crash but talked myself out of it. I also said that oil would recover to around $75 before selling off again...you know the rest. I can tell you stories all day about the major moves that I called and didn’t take advantage of.

After that, the problem is as I told you before, poor execution. I was always too early, too late or had too tight of a stop. In some cases, I was just wrong but that’s part of the game and not a trading flaw.

 

[themickey]

I realized that I didn’t tell the whole story in my initial reply. Yes, I tended to be highly accurate but the main reason why I didn’t make money is because in the majority of instances, I’d talk myself out of taking the trade. There were times when I’d literally call the top or bottom tick in a move but would convince myself not to take the trade. I called the oil market crash but talked myself out of it. I also said that oil would recover to around $75 before selling off again...you know the rest. I can tell you stories all day about the major moves that I called and didn’t take advantage of.

After that, the problem is as I told you before, poor execution. I was always too early, too late or had too tight of a stop. In some cases, I was just wrong but that’s part of the game and not a trading flaw.

That's the major issue, a trader needs to be.....
Skilled in TA, fundamentals, hardware, software, coding, programming, mathmatician, pulling the trigger, then other things like being a parent, partner, employee, running your own business......

 

[d08]

I realized that I didn’t tell the whole story in my initial reply. Yes, I tended to be highly accurate but the main reason why I didn’t make money is because in the majority of instances, I’d talk myself out of taking the trade. There were times when I’d literally call the top or bottom tick in a move but would convince myself not to take the trade. I called the oil market crash but talked myself out of it. I also said that oil would recover to around $75 before selling off again...you know the rest. I can tell you stories all day about the major moves that I called and didn’t take advantage of.

After that, the problem is as I told you before, poor execution. I was always too early, too late or had too tight of a stop. In some cases, I was just wrong but that’s part of the game and not a trading flaw.

Are you sure it's not simply a case of selective memory? People tend to remember the correct calls while forgetting the wrong ones. Calling tops and bottom with good timing is probably the most difficult thing to do, especially if you do it in a discretionary fashion. Quantitatively it's easier as you can play the numbers.

 

[viruscore1]

Your numbers make sense when the whole market is down. Do the tally when the market is up, your numbers will change.

 

[Money Trust]

Are you sure it's not simply a case of selective memory? People tend to remember the correct calls while forgetting the wrong ones. Calling tops and bottom with good timing is probably the most difficult thing to do, especially if you do it in a discretionary fashion. Quantitatively it's easier as you can play the numbers.

I did say that I loss in some cases due to being wrong but I don't really concern myself with those because that's part of the game and not necessarily a mental flaw.

 

[vincentnyc]

I did say that I loss in some cases due to being wrong but I don't really concern myself with those because that's part of the game and not necessarily a mental flaw.

losing is part of trading. the tricky part is not to lose a big chunk of your account. you have to learn how to be a good loser if you want to survive in trading.

 

[cornerstone]

According to broker reports, around 80% of retail trading CFD are STRAIGHT UP LOSING. And even this seems like an optimistic number.

I would say:
if 80% are losing
----another 10% are just getting by and not losing(breakeven)
--------5% are making some money
------------4% are making a living
-----------------1% are ballers


What do you think? Or is there any sophisticated data on the topic with more details?

The question that should ask is which traders are making a living. learn from professionals, have a plan and you will make a living and you will not care about others.
if you like a tip for the start, check out Bookmap software, it helped me

 

[Rodbuilder]

You can increase the probability by knowing which, where and when to get into any entrepreneurial endeavor.