thread: New study shows only 1% of traders are consistently successful

We have heard that 90% of people fail in gambling. Fail at trading. BUT, has anyone really seen any study proving that these statements?

Like most here, I have been curious as to whether the 90 - 95 percent of traders statistic had any truth to it. I FINALLY found a study that provides a genuine amount in regards to the percentage of people that succeed in gambling. An article was printed in The New York Times a few days ago in which it cited a new, yet-to-be-published study that basically stated only 1% of traders are frequently profitable.

This is the connection (the study I speak of is on page 2 of this article):

http://www.nytimes.com/2010/03/28/bu...ersst=csescp=1


Now, eventually having factual proof showing that ther is a next-to-nothing prospect of somebody getting (consistently) effective as a trader, my question to everybody here is: Can it stop you in any way in trying to attain your dream as a consistently profitable trader?


Topgun

Im agree with this.

Just 1 percent have skill to succes in the market since the data that distribute along with participant is very different.

So, the amount of response should be different too!

That is true, not every one can be successful in business. Few are earner, few are earner, depends upon techniques and their knowledge.

Update...I can never stop the FOREX, I find too much potential and just can not sit at a 9-5 job again. I was so miserable.

I'm now using just the 20 200 ema, along with STOCH, typically 15m charts. It is the time of day that's important for my success. Yes I visit the moves, I'm getting in on the retraces. 5am or 6am....and awaiting 8am or 9am jumps.

I'm setting TP at 10 pips, 20 pips, and 30pips for the time being. . .with a halt loss....and doing just fine. If I get 10 pips I'm happy! Oh, and I trade the GBP/JPY.

Then I've been successful entering the 8pm and ching the movement leading up to the 2am or 3am moves. So I've been averaging 20 to 30 Pips daily, or twice daily. Assembling my account and now able to purchase size lots.

Inside my world 20 Lots x 30 Pips ai not too bad. Never made that at my desk tasks. Ugh, and I've had such bosses.

So I'll remain in this egy....It's the 20ema cross, overbot or over sold and time of day....hey, it's working. It is so simple, I feel like an idiot I didn't do so before. May have saved a lot of heart ache and money.

We have heard that 90% of individuals fail in gambling. Another figure that's just as often used is 95% fail at trading. BUT, has anyone seen any research proving these statements? Like most here, I have been interested as to whether the 90 - 95 percent of traders statistic had any truth to it. I FINALLY found a study which gives an actual amount about the percentage of people that succeed in gambling. An article was printed at The New York Times a few days ago in that it mentioned a new, yet-to-be-published analysis that basically stated only...

I have explained this in another thread, but at the risk of repeating myself. So what if 99% of individuals fail? Those individuals have no effect on your skills. Most company startups have a high failure rate, look at the dot coms for instance the majority burn and crash.

In case you don't believe you've got what it requires. Stop. You are beaten. Should you believe you have what it takes, then stop fretting about who is failing and familiarize together with people who understand this business well and live out of it.

quote that I do not have a issue with. Just 1% of aspiring sportmen become professional just 1% of aspiring actors make it to hollywood just 1% of apsiring.... Are successful it is it is how this% gets marketed to the masses. It's some type of reverse marketing, type of challenging you to see whether you can be better....it is a plogical game. I believe 99 percent of traders blow off their accounts at least once, 99% of novice traders shed, yes I agree with that. This is a zero sum game. For each loser...

Yes zero sum, lots of small losers a few large winners, the brokers get the maximum out of this game through their fees and spread.

I live from trading. It was a path. Probably a sane individual would have given up, however it's in my blood, it had been die or do, bridges and boats all burnt. Many times I considered giving up, but I just couldn't face quitting.

Can it really matter if the number is 95 percent or 99% of individuals fail at trading. If people quit whining about how hard it is to exchange and invested more time attempting to become a succesful trader rather than complaining on forums which number would change. The real problem is that people do wish to work for whatever they want it all handed to them on a freakin platter.

Agree 100%.

Update...I can never stop the FOREX, I see a lot of possible and simply can't sit at a 9-5 job again. I was miserable. I am currently using the 20 200 ema, along with STOCH, typically charts. It's the time of day that's essential for my achievement. Yes I visit the 2am and 3am moves, I am getting in on the retraces. 5am or 6am....and awaiting 8am or 9am jumps. I am placing TP in 10 pips, 20 pips, and 30pips for now. . .with a halt loss....and doing just fine. If I just get 10 pips I am happy too! Oh, and I just trade the GBP/JPY. Then I have been powerful...

Hi, your idea sounds intriguing, but I think it is hard as there are numerous times when there is apparently a GBP/JPY fakeout retracement and I get caught by my stops. The EMA crosses Stoc do not seem to ch point and the retracements of entry. Perhaps you could show us all your charts and your entry/stop. Cheers and thanks!

quote Yes zero sum, lots of small winners several big winners, the brokers get the maximum from this game through their spread and fees. I live from trading. It was a route. Likely a person would have given up, however it is in my blood, it had been constantly do or die, bridges and boats all burnt. Many times I considered giving up, but I simply could not face stopping.

I've found that the 1 percent that make it are often the subject of jealousy, envy, hatred and resentment from the 99%. The 99% consider that their cash has been taken by the 1 percent. However, the 99% drop into the brokers. The 1 percent are mostly self-taught which tells you something. And it is lonely at the top 1 percent. If trading was simple, a living would be made by the 99%.

quote I have found that the 1 percent that make it are often the subject of envy, jealousy, hatred and bitterness from the 99%. The 99% consider that the 1 percent have taken their money. However, the 99% lose to the brokers. The 1 percent are mostly self-taught which tells you something. And it's lonely in the top 1 percent. The 99% would earn a living if trading was easy.

I really don't want to be the one to tell you this but if you think trading is hard, it's probably because you're not doing it the ideal way for your style and therefore by your definition, you've egorized yourself at the called 99%.

According to my experience in forex so far, after fighting almost for 5 years studying how to trade forex, it's now finally quite effortless and enjoyable. The one thing that is not interesting is that there's no one you can share your acquired knowledge with, without running the risk of being attacked by people like yourself when seeking to share some ideas or knowledge.

Since yesterdayyou've been harassing me, calling me a noob along with other items on several articles and now, I see you've deleted those articles??

Why did you delete all of the posts where you always called me a noob?