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Where did the "90% are losers myth come from?
- Thread starter human151
- Start date
I'd posit that 90% of traders that sign up with Bright Trading [the owners of ET] and finish the boot camp and decide to go for it are profitable nearly right away and for a long time after... there is a right way to do things and there is the hard way that usually doesn't work out... I don't want to do opening range breakout or pairs trading so I don't do that... but that is my recommendation to anybody with some capital, $25-$50 grand or whatever it takes, and the desire for a career... I'd say the vast majority of posters on ET don't have the capital, pure and simple, otherwise they would be trading instead of posting weird antagonistic moronic stuff here...
I work for a major online brokerage firm so I know how much money people are making in their accounts. I actually think 90% is a low number, to me it seems more like 95%. You wouldn't believe how many daytrading idiots there are out there with brokerage accounts, that's all I have to say really. I see proof everyday, these people have no clue what they're doing.
Quote from human151:
I am by no means and proficient trader. Im still learning. That said, when I see people say that 90% lose when trading, I want to run for the hills.
If that were true, then how would all the brokerage firms, online or otherwise, who cater to the individual trader be able to stay alive. If 90% are losers then it seems logical that they would run out of customers because once everyone loses thier money they cant be a customer obviosly.
I know a few other people who trade consistently and they dont lose 90% of thier money. So are they the luck 10%? I doubt that.
If you do your research, learn to read the charts/trends and educate yourself how is it logical that 9 out of 10 trades are losers.
Doesent make sense.
Im just a guy looking to learn trading, as many others have and gain the knowledge to do it for a living, as many others have.
Can someone tell me why I am wrong?
I worked at an fx bucketshop and, anecdotally, it was 95%+, probably 99%
we would check any positive accounts to make sure they were playing fair and werent arbing us, and they nearly always were.
The other accounts I would make note of and check in on later. They usually gave it all back.
I never saw an account making regular returns that one could live on.
we would check any positive accounts to make sure they were playing fair and werent arbing us, and they nearly always were.
The other accounts I would make note of and check in on later. They usually gave it all back.
I never saw an account making regular returns that one could live on.
Quote from milktruck:
I worked at an fx bucketshop and, anecdotally, it was 95%+, probably 99%
we would check any positive accounts to make sure they were playing fair and werent arbing us, and they nearly always were.
The other accounts I would make note of and check in on later. They usually gave it all back.
I never saw an account making regular returns that one could live on.
So if people saw an account regularly making money they would "stalk" it?
Quote from Sushi:
Over time the figure is likely closer to 100% of all active traders. Not total blow ups but will end up being losers overall over the long term
Hmm, I've been full time 13 years.
You have no clue about profitable traders over the longer term.
This site has become a joke with idiots like you.
Quote from milktruck:
I worked at an fx bucketshop and, anecdotally, it was 95%+, probably 99%
we would check any positive accounts to make sure they were playing fair and werent arbing us, and they nearly always were.
The other accounts I would make note of and check in on later. They usually gave it all back.
I never saw an account making regular returns that one could live on.
Quote from milktruck:
Its just that rare that they would make sure it wasnt a bot preying on off quotes.
And I would stalk on my own out of curiosity and a desire to learn from those who were making money.
Thanks for your sharing your experiences, milktruck. Very interesting, yet depressing. I wish everyone considering opening a bucket forex account would read this first.
I think it is somewhat similar with stock and futures brokers.
Whether it is 90 or 95%, one should not get discouraged. This is one of the easiest businesses to enter. I think if one were to include only those who properly devoted their brain, skills,money and utilized proper discipline and emotional restraint, the % would be a lot higher. My guess would be 30% of those who put in 100% make it in the long run.
Whether it is 90 or 95%, one should not get discouraged. This is one of the easiest businesses to enter. I think if one were to include only those who properly devoted their brain, skills,money and utilized proper discipline and emotional restraint, the % would be a lot higher. My guess would be 30% of those who put in 100% make it in the long run.