DislikedThereís an interesting recent article on finance feeds wrt how FX brokers hunt for the trading bait/chum to then churn over and throw away, they have zero interest in customer care, only in buying thousands of leads from the likes of binary options failures, then hoping that a small percent will gamble and lose a few hundred quid each. They spend a couple of grand fishing and convert it into twenty grand, thatís the typical model. Brokers cheat, but the majority of the deception involved in this industry is self deception; gamblers lie to themselves,...Ignored
Will the mugs take heed of the low win rate? No. Entry into trading is quick, simple, low cost, low effort. There is a risk of ruin but actual such cases are too rare to be a disincentive. Even ESMA state that most punters don't lose a fortune - an amount less than £30k is not a fortune. Only 10% lose more than that and its very possible that to at least some of the 10%, even an amount over £30k wasn't actually a fortune.
All in all, trading is enjoyable, cheap, educational, intellectually stimulating and emotionally challenging. It stimulates interest in world affairs, economics and political philosophy. It encourages improved skills in mathematics, statistics, news analysis, time management, budgeting, research and the graphic presentation of data. I regularly hear people say that it is aided by yoga, aerobic exercise, meditation and a healthy sleep regime: it certainly encourages attention in these important areas.
Sounds to me like its doing a lot of good things for people who can afford it.