There are 2 types of traders —-

N

NY_HOOD

1) the 5% that actually make money and can do it for a living.
2) the 95% that think they can and keep trying to convince themselves they “ just need to be more disciplined or need to adjust their strategy”. These traders lose it all. They may experience a slow bleeding to where the markets keep giving them some small winning trades and false hope only to blow them up when they least expect it.
Fyi- i was in the 95%.
 
Well, following the logic of your post, a 95 % trader can become a 5 % trader, presumably by 'adjusting their strategy' or finding a new one?

I'll add that among the 5 % traders - some are probably struggling and grinding to get by, while a very selected few actually make big bucks from trading.
 
No, that is not what i said. They convince themselves they need to adjust their strategies and it only extends the pain and losses.
 
The statement is a projection of your believes. Maybe you should examine if it is helpfull to believe this? My believe is that 100% of the people will make it, if they just do the right steps without shortcuts.
 
So you are saying there are two types of traders..

1) those who make money
2) those who lose money

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I think the traders who are in it for the money are the ones that make the 95% and the traders who don't care about the money are the successful ones. When you have a care free attitude and don't expect riches then your trading becomes better, when you sit there and stress about being a successful trader and being a millionaire you only let yourself down. It's all about consistancy, and not about how much you make
 
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