Disliked{quote} The 60:40 number you are getting from the few brokers who report it are mostly correct for a given moment in time. The ratio would be lower for bucket shops actively playing against customers. For example, fxcm reports quarterly how many 'active/tradeable' accounts they have and how many of them are profitable. The pool of accounts grow over time, because the broker does good advertising, but the people who trade those accounts change. The higher number comes from the following logic: at any moment in time a given broker has N traders. K...Ignored
I want to see "k" number of traders opened an account, and "k" number of traders failed. I want to see it from a broker, or from someone that has the hard numbers.
There isn't even a time frame linked with the 97% bullshit statement. 97% of traders fail once in their lifetime of trading - OK. 97% of traders will fail one time or another - OK. 97% traders fail within 2 years of trading - OK.
97% of traders fail. - NEGATIVE.
If you try again? Are you a failure? Is somone with $1 trading even a trader? $200? The statement has no scientific background what so ever. At least the other way around (60:40) can provide amount of time, amount of traders, amount of money etc etc