what i dont understand is why do people say 95 percent of traders fail but trading firms can sustain like over 100 traders in there companys are they all just breaken even traders doing good enough to breakeven or produce commissions over losses were firms can keep them around does that make traders unsucessful or in need of better rates to take home a check and who came up with this 95 percent wouldnt you think prop firms have a higher rate of success then your investor who is learning to trade from home ?
Trade your way through College- NOT
- Thread starter psytrade
- Start date
i cant agree with the 95 percent were i trade now i would say 70 percent are taking home checks but i guess it varies in firms i don't see how accurate the 95 percent can be
I think the 95% number is ppl who try trading and fail. The remaining 5% make a lot of money. That's usually the ppl you should find at firms.
Said otherwise, only 5% of the general poupullation has what it takes to become a profitable trader.
About swift's experiment, I think that students who dont need the money but enjoy getting the experience could have an edge at learning how to trade. Since it's said that fear and greed are a trader's worst enemies, the fear factor gets diminished by the fact that branch managers asume monthly loses, and the greed factor gets diminished by the kind of comisions they pay you.
Students thinking long term could have a good oportunity here.
Said otherwise, only 5% of the general poupullation has what it takes to become a profitable trader.
About swift's experiment, I think that students who dont need the money but enjoy getting the experience could have an edge at learning how to trade. Since it's said that fear and greed are a trader's worst enemies, the fear factor gets diminished by the fact that branch managers asume monthly loses, and the greed factor gets diminished by the kind of comisions they pay you.
Students thinking long term could have a good oportunity here.
that 95% has to be off. Does that count the guy that blew up his account 2 or 3 times before becoming a very successfull trader? Something like that could really skew the numbers
Nobody even seems to know where that number comes from anyway... at best it's a guess. Let me illustrate how it could be skewed also. I once was planning on starting a business, and I was told that %90 of all small businesses fail in their first year. I registered three seperate business names (for various reasons) and only started with one. To the stats people, how would they know if I actually tried to continue the business for 9 months and failed, or just never bothered to do anything at all? I think it's the same situation. If you took a look at the people who joined prop firms, and the people who actually took a serious stab at it, you would probably find the statistics to be much higher, imho.
- The New Guy
I agree!
for people working at swift trade...how long does it take to get a decent take home cheque?
I had a offer to work for them but I declined as I was not too keen on their banded pay structure.
I am a fresh graduate...so schools all done and I would be doing this full time. Hope I made the right decision by not joining them?
any inputs from swift trade employees would be appreciated!
I had a offer to work for them but I declined as I was not too keen on their banded pay structure.
I am a fresh graduate...so schools all done and I would be doing this full time. Hope I made the right decision by not joining them?
any inputs from swift trade employees would be appreciated!
The numbers come from a study done using data from brokerage firms a long time ago, but you are probably right. Even though thousands of businesses start and fail each year there is no reason not to try, just look at all the successful one... same goes for trading, if you put in the hard work then the stats aren't that bad. Imagine what sports would look like if every sportsman was resigned to failure before starting!
-Neo
-Neo
wow, what a thought...
college and trading....
two moentary draining endeavours at once.....
wow
college and trading....
two moentary draining endeavours at once.....
wow
Trade your way through College ?
(1) For those who can, college is a waste of time;
(2) for those who try trading in college, they will likely fail to learn what they need to do better later.
nono
(1) For those who can, college is a waste of time;
(2) for those who try trading in college, they will likely fail to learn what they need to do better later.
nono