Whitesnake
Corporal
- Messages
- 428
Well this is totally subjective and the majority falls to the failure category so determine yourself now.
Can anyone tell me the success rate for new traders?
- Thread starter ecg
- Start date
dkami
Sergeant
- Messages
- 757
Going off your guess 99% of traders on FPA loose money,I think you should take another more calculated guess!
I think overall the figures of traders would more likely be: 50% loose money, 25% BE, 20% make a little money and 5% make the big buck's
FPA has many members maybe we should put this question to a poll and stop the rot once and for all that 98% of Forex traders loose money!
Pharaoh
Brigadier General
- Messages
- 20,310
There are drawbacks to polling.
1. Is our audience representative? I don't think people like Warren Buffet or George Soros are too likely to hang out here - they are busy doing whatever it is that billionaires do for fun. The FPA is something of a magnet for newbies wanting to learn and victims who got wiped out by some scammy trading product.
2. Not everyone who loses wants to admit it. This is how universities manage to brag about "average salaries of our graduates." The grads who work a McJob either don't answer the "how much are you making" surveys or give a fake answer.
3. How do we define "losing"? One month of drawdown means little in a 3 year trading career. In a 3 month trading career, it could mean a lot. Without a very simple, clear definition, people could place themselves into the wrong category.
1. Is our audience representative? I don't think people like Warren Buffet or George Soros are too likely to hang out here - they are busy doing whatever it is that billionaires do for fun. The FPA is something of a magnet for newbies wanting to learn and victims who got wiped out by some scammy trading product.
2. Not everyone who loses wants to admit it. This is how universities manage to brag about "average salaries of our graduates." The grads who work a McJob either don't answer the "how much are you making" surveys or give a fake answer.
3. How do we define "losing"? One month of drawdown means little in a 3 year trading career. In a 3 month trading career, it could mean a lot. Without a very simple, clear definition, people could place themselves into the wrong category.
^^
Derrick ... what EXACTLY was it that you liked ?!!
Awww I wish I had... their site was so bad I didn't bother.
Maybe they have enslaved the 'residents' and forced them to set up a forex advisory service!
Dkami --- yeah that sounds reasonable. All except the 'make the big bucks' bit. Its that sort of aspirational BS that attracts gullible and inexperienced 'traders' (read 'fodder'). Of the 5% ... they will have all the required 'parts to the puzzle'... including sufficient capital to allow money management to win out over the madcap nature of the market.
wtf?!?!!!!
Derrick ... what EXACTLY was it that you liked ?!!
!!!
Awww I wish I had... their site was so bad I didn't bother.
Maybe they have enslaved the 'residents' and forced them to set up a forex advisory service!
It's enough that people are willing to discuss the POSSIBILITY that they may loose ... and may loose a great deal more than they can afford!!!
Dkami --- yeah that sounds reasonable. All except the 'make the big bucks' bit. Its that sort of aspirational BS that attracts gullible and inexperienced 'traders' (read 'fodder'). Of the 5% ... they will have all the required 'parts to the puzzle'... including sufficient capital to allow money management to win out over the madcap nature of the market.
Last edited:
nanypurwanti
Private
- Messages
- 15
In my opinions,,,
Fail = 80-90%
Success = 10-20%
New traders will not success on short times, it's difficult for them..
Fail = 80-90%
Success = 10-20%
New traders will not success on short times, it's difficult for them..
dkami
Sergeant
- Messages
- 757
Well I think there would be a lot of big accounts out there and even if those that have these big accounts used little to no leverage still would be in the 5% category
Number one reason traders loose money is because of leverage and they get to greedy and over trade!
There's no reason a new trader cant be in the 20% category if they simply follow a simple rule,that is use little to no leverage and treat their account as an investment instead of a get rick quick scheme.Trading really isn't that hard like they say buy low and sell high so trading is only as hard as you want to make it
Dkami re being greedy.
Hahahahaha that is funny - new traders are greedy and as if you never were? We 'all' go to the Forex hoping to make some of the '' BIG advertised promised bucks' - and dream/aspire to get some of Warren Buffet cash.
As i see it - NEWBIES now usually start with a 50k demo account and their thought patterns get used to 1.00 trades aka $10 a pip or $100 trade a pip and then after some time being profitable -astonished how easy it is, they open an 1k or 3k account and of course they over trade -then are amazed they lose their account -no... it is designed that they over trade and lose it. - they are simply brokers fodder-
Then IMHO most newbies do not know what leverage is, speaking for myself i did not have a clue, most are shell shocked by the loss of their hard earned money or the threat of the impending loss and then try to salvage the situation by taking bigger risks.
It is a great idea to see trading as an investment but again IMHO that comes from someone that has some investment experience. Most newbies from i read do not have that either, i certainly did not.
I think it may be a good idea to start a 'guided' step by step course at a certain time each day and to teach newbies on FPA, this could be run by volunteers like yourself - some one that starts with a small trading account and sets a teeny trade and teach them, that trading is not that hard- teach them supports and resistances and you teach them where to enter and to exit and i am sure FPA and all the newbies would be grateful. And before you bring up Sive - I know there Sive's course/book and it is brilliant but daunting unless one has already quite a bit of experience. So Dkami when will you start?
Well I think there would be a lot of big accounts out there and even if those that have these big accounts used little to no leverage still would be in the 5% category
Number one reason traders loose money is because of leverage and they get to greedy and over trade!
There's no reason a new trader cant be in the 20% category if they simply follow a simple rule,that is use little to no leverage and treat their account as an investment instead of a get rick quick scheme.Trading really isn't that hard like they say buy low and sell high so trading is only as hard as you want to make it
Hahahahaha that is funny - new traders are greedy and as if you never were? We 'all' go to the Forex hoping to make some of the '' BIG advertised promised bucks' - and dream/aspire to get some of Warren Buffet cash.
As i see it - NEWBIES now usually start with a 50k demo account and their thought patterns get used to 1.00 trades aka $10 a pip or $100 trade a pip and then after some time being profitable -astonished how easy it is, they open an 1k or 3k account and of course they over trade -then are amazed they lose their account -no... it is designed that they over trade and lose it. - they are simply brokers fodder-
Then IMHO most newbies do not know what leverage is, speaking for myself i did not have a clue, most are shell shocked by the loss of their hard earned money or the threat of the impending loss and then try to salvage the situation by taking bigger risks.
It is a great idea to see trading as an investment but again IMHO that comes from someone that has some investment experience. Most newbies from i read do not have that either, i certainly did not.
I think it may be a good idea to start a 'guided' step by step course at a certain time each day and to teach newbies on FPA, this could be run by volunteers like yourself - some one that starts with a small trading account and sets a teeny trade and teach them, that trading is not that hard- teach them supports and resistances and you teach them where to enter and to exit and i am sure FPA and all the newbies would be grateful. And before you bring up Sive - I know there Sive's course/book and it is brilliant but daunting unless one has already quite a bit of experience. So Dkami when will you start?
dkami
Sergeant
- Messages
- 757
I cant give any better advice than I have already given!
"There's no reason a new trader cant be in the 20% category if they simply follow a simple rule,that is use little to no leverage and treat their account as an investment instead of a get rick quick scheme.Trading really isn't that hard like they say buy low and sell high so trading is only as hard as you want to make it"
And to add to this is what many people say on this forum use a demo account until you are profitable,that's what there there for and in my opinion there's no better way to learn how to trade than by learning from your own mistake's not someone else's
Triantus Shango
Sergeant Major
- Messages
- 1,371
