The Modern Trader: A Report on the 9.6 Million Online Traders

I am shocked that there are so few traders in the world...

This research is pure B.S and failed on so many levels....

B.S 1.

"We found that, despite their association with high incomes, most online traders earn a modest
income - averaging £38,700"

87% to 90% lose their account,let alone making 40k year.

B.S 2.
Greece close to 30k....hmmm...I live here,in the 2nd biggest city and I doubt that number. Since 2011 I've meet with 100's of people and spoke with colleges about people on their job/friendship cycle......so far I've meet only 1 live trader beside me.


B.S 3. Kosovo has 7k and Albania 6k traders....Being from Albania I highly doubt this number too.

B.S 4.Cyprus doesn't have above 1k traders ? This stinks too, assuming that Cypriots are Greeks and they're 1/10 of the size of Greece, there should be at least 3k traders right? Not only that but Cyprus is the hub of Europe for brokers...

To me this White Paper or wherever they want to call it looks like an failed marketing campaign ....

Im not at all suprised.
Just read the comments on these news threads.

They didn't say that they earn the 40k from trading. and you seem to be from all over, tell us mr. what is the modern trader like?

This is how F.F earns their revenue, by selling space for bullshit articles...

nice article,the more the traders the more liquid the forex market becomes.

The reality is far, far worse.
I bet you can't show any consistent 35k per year

I am not sure how accurate this can be, however i am so impressed by looking at it
and i didnt know so many play fx on telephone_ so unusual for me ... always a pc for fx
and as usual the market is really moved by the Institutions, international banks and financial centres

Forex, is an almost sure loser as a Stand Alone investment vehicle.
(Linked as an element/enabeler to a broader investment strategy is a different story)

I say "almost" because there are guys that have made it work to create CONSISTENT Alpha.
But in 15 years of Fx trading and having probably known over 100 "good traders".. I know only 4 real winners.
And only one from an day/interday system.
What are Modern Traders Like? No different much than those from back 10 years ago.
95% Chasing a dream.

You have no idea of how small and insignificant retail Fx is in the "game"/Market.
Its meaningless. A flea on the back of a tiger.

As long as retail traders trade by patterns, fibs and BS trading systems instead of taking the time to understand and learn how institutions trade, they will always be "stop fodder". It is like the retail traders are playing cricket whilst the institutions are playing football, both with a ball and both on a pitch, but altogether different games

not sure how and where they got their info/ "facts" from. I do not have FB and that is where they got their 'car info' from, so they have no idea what I drive.

i have 5 different broker accounts so how would they have any idea how much I make?

and I know several traders that make a lot of money, far more than $35K PA. Most of us are just very quiet about it, just working a long daily and not bothering with such 'news items' but today is a slow day and i already made my pips for the day, so i decided to comment.

And i know even more traders that do not make anything or worse yet, lose money. Many trade micro lots which is ok while learning in demo but you will never earn a living that way. To me it depends on whether they treat it as a business or a dream or a game. Most are in the dream category. But that is the way in life as well. Most people do not excel at whatever they do because they do not strive to be the best AND more importantly, put in the effort to be the best.

Perhaps if some of you had developed your reading comprehension skills past the 5th grade you'd realize....

This study accounts for millions of traders across all modalities- not just the 60k failures on Forex Factory.

The majority of these traders likely have a real job- which is where the income brackets come from.

they have taken the income data (household) according to facebook.com an obviously very accurate source for income data (NOT). THAT is the limit of their disclosure on where their data comes from and how it was interpreted. So most likely they see someone says they are an electrician and obviously electricians make the same average incomes. Some value can be gleaned from averages but not when linking other stats to those averages. Facebook is likely one of the WORST sources for any kind of accurate data on who is who, or do you really believe everyone on FB tells the truth?

Some of us are FULL TIME traders with incomes much higher than $35k but again, I have no need/desire to be on FB. PT traders would have their trading income added to their household income, so if somehow this study gathered accurate income data from traders, it would show that most earn little. THAT is valuable to know but not something surprising.

Since when i trading NOT a real job?

I do not consider this a 'study' of any real value. Certainly makes no difference to my trading. BUT maybe it will enlighten some to realize that good trading is hard work, requiring study and dedication to learning.