Pharaoh
Brigadier General
- Messages
- 20,320
Reading the last few posts above makes me think of comparing trading the forex to having sex.....the more you do it, the better you get at doing it!
Practice makes perfect.
Reading the last few posts above makes me think of comparing trading the forex to having sex.....the more you do it, the better you get at doing it!
Nowadays we have a lot of information, internet is full of different analyses, charts, articles. If you have any question, you can ask it on various forums. If speaking about trading, than almost everything is done to trade successfully. But anyway, most of traders lose their money. Why? In my opinion because they don't want to learn, to read books. They are too lazy for going deep, for studying. Most traders want immediately start making money. But as we know, this way they still will keep loosing money.
Well, that's what the statistics say: 95% of traders lose money and that’s a pretty high percentage, and just 5% of them actually can profit from it,
8 out of 7 statisticians present data in ways that don't make sense.
I'm pretty sure the 95%, 98%, whatever % losers is just based on anecdotal statements, not real statistics. I'm sure that more that 5% of traders find themselves close to breakeven after trading for awhile, so give up. That sort of kills the usual claims about how high a percent lose money. Add in that most profitable traders start out as losers and later work their way through breakeven to the point where they win, and getting any real statistics would be difficult.
I think it's true and it makes sense, many traders face loss at some point, they're losing because they don't have enough experience so they will face loss. This is why 5 % of Forex traders are successful because they had many losses when they started this business so now they have enough experience.