We've all heard that "90% of people fail in trading." Another figure that is just as often used is "95%" fail at trading. BUT, has anyone actually seen any study proving these statements?
Like many here, I have been curious as to whether the 90 - 95% of traders statistic had any truth to it. Well, I FINALLY found a study that gives an actual number in regards to the percentage of people that succeed in trading. An article was published in The New York Times a few days ago in which it cited a new, yet-to-be-published study that basically said only 1% of traders are regularly profitable.
Here is the link (the study I speak of is on page 2 of the article):
http://www.nytimes.com/2010/03/28/bu...s&st=cse&scp=1
Now, finally having factual proof showing that ther is a next-to-nothing chance of someone becoming (consistently) successful as a trader, my question to everyone here is: Will it stop you in any way in trying to achieve your dream as a consistently profitable trader?
Topgun
Like many here, I have been curious as to whether the 90 - 95% of traders statistic had any truth to it. Well, I FINALLY found a study that gives an actual number in regards to the percentage of people that succeed in trading. An article was published in The New York Times a few days ago in which it cited a new, yet-to-be-published study that basically said only 1% of traders are regularly profitable.
Here is the link (the study I speak of is on page 2 of the article):
http://www.nytimes.com/2010/03/28/bu...s&st=cse&scp=1
Now, finally having factual proof showing that ther is a next-to-nothing chance of someone becoming (consistently) successful as a trader, my question to everyone here is: Will it stop you in any way in trying to achieve your dream as a consistently profitable trader?
Topgun
"Success is not a fantasy, it's a formula." - MTI