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99.99999% lose money

  • #61
  • Jun 18, 2018 10:54am Jun 18, 2018 10:54am
Quoting zghnno
Seriously, where this repeated stats came from? According to IG "The actual proportion of profitable accounts across IG’s European clients for the calendar year 2017 was 24 percent. This is from IG response to ESMA call. Source attached. {image}
It's pretty possible. Percent of winning traders can be underestimated by the community (i.e. the estimate is biased), because the noise which generate losing traders, i.e. we know how hard is trading from those who lost, while winning traders generally don't tout their achievements on forums.
  • #62
  • Jun 19, 2018 9:49am Jun 19, 2018 9:49am
I understand most brokers determine profitability of account by assessing closing balance of previous quarter not being greater than closing balance of current. Even dormant accounts will satisfy this criteria for 'profitability'.

Additionally, the 24% mentioned in a previous post are unlikely to be the same 24% that were 'profitable' the previous quarter. There is significant churn as last quarter's stars hit the skids.

For the broker for whom I have the most recent empirical data, there are slightly less than 2% of its customers who are still profitable after 2 years of trading.
Trump is a total Cunt. Anyone who thinks Trump is great, is also a Cunt.
  • #63
  • Jun 19, 2018 10:18am Jun 19, 2018 10:18am
Quoting zghnno
Seriously, where this repeated stats came from? According to IG "The actual proportion of profitable accounts across IG’s European clients for the calendar year 2017 was 24 percent. This is from IG response to ESMA call. Source attached. {image}
If 99% of people lost money why do people keep trading? I think it's more so 90%.
  • #64
  • Jun 19, 2018 10:36am Jun 19, 2018 10:36am
Quoting GGekkoGreed
{quote} If 99% of people lost money why do people keep trading? I think it's more so 90%.
If 99% of people feel bad after they were drunk, why do people still get drunk ?

On top of that, the reasoning is totally backwards: If people still trade, THEN 10% of them must be profitable ?
(again, all this "profitable" thing is very dependent on the time period)
  • #65
  • Jun 19, 2018 11:42am Jun 19, 2018 11:42am
Listen, I'm not one to type long messages or even make posts for that matter...I've been coming to Forexfactory for years now even before I actually opened an account here...I started with binaries and after I realized It was literally impossible to win at binaries I switched to forex..
I've been through all the losses and phases a retail fx trader goes through...long story short, I became profitable, so much so that I'm actively in the process of opening my own brokerage, mainly because the volumes I trade are too large for the current broker I use and I have to be opening multiple positions just so I can risk 1% of my account and I'm looking to retire soon and I want to be still making money from forex.....I say this to say that forex is simpler than most know, not to be mistaken with easy because simple and easy are two different things...why I was losing when I was losing is because of greed and lack of discipline, deep down I didn't want to commit the almost 5 years it took to learn to master myself and simultaneously gain the knowledge required for success, I wanted to be rich quickly and so I kept searching for a strategy that would give me a Lot of trades and high accuracy..Ironically I found this strategy but it was only after I started to commit to mastering myself and subsequently master the art of discipline that my mind changed enough so that my eyes opened enough so I could see the strategy.... Traders, not everyone can make it in forex, that's true, because one has to be willing to do what most are not willing to do, to get the results most will never get...but if one would just commit oneself to taking the time to invest oneself and commit to the discipline required one would experience success..true success...Forex trading is mathematics and art...the art of self control and discipline...I'm not a more skilled trader than most here on FF, in fact I could name a few traders here that I think may be more skilled than I ,what sets me apart is that I'm a better rules follower, I control my emotions far better and simply I've mastered myself when it comes to trading....I'm posting this to give hope to those wondering if they can make it in trading....YOU CAN MAKE IT....you just need to answer this question sufficiently: 99% OF RETAIL TRADERS LOSE, WHY SHOULD YOU BE APART OF THE 1%...
Ps. I trade over 5 million dollars in capital and I built this from a combined deposit of approximately $3000 ( I deposited small amounts throughout my learning curve) believe me or not...it's of no consequence to me....Just giving inspiration to those who will receive it.... one who hasn't learned the art of self mastery will never master the art of forex trading....this is why most are in the 99% of losers...It's not because of strategy because there are hundreds of strategies that win more than 50% of the time on the internet and that win percentage is all you need...
  • #66
  • Jun 19, 2018 12:28pm Jun 19, 2018 12:28pm
Quoting Diverge
Listen, I'm not one to type long messages or even make posts for that matter...I've been coming to Forexfactory for years now even before I actually opened an account here...I started with binaries and after I realized It was literally impossible to win at binaries I switched to forex.. I've been through all the losses and phases a retail fx trader goes through...long story short, I became profitable, so much so that I'm actively in the process of opening my own brokerage, mainly because the volumes I trade are too large for the current broker I...
$3000 to 3M; that is inspiring. can you backup your claim?

why would you want to start a brokerage firm? that will entail lots of bereaucratic processes (such as certification, minimum capital, employees, technology hardware etc). To scale up; you don't need a brokerage; you need to setup a hedge fund; and use your relationship to negotiate good brokerage deals.
  • #67
  • Jun 19, 2018 1:19pm Jun 19, 2018 1:19pm
Quoting alphadude
{quote} $3000 to 3M; that is inspiring. can you backup your claim? why would you want to start a brokerage firm? that will entail lots of bereaucratic processes (such as certification, minimum capital, employees, technology hardware etc). To scale up; you don't need a brokerage; you need to setup a hedge fund; and use your relationship to negotiate good brokerage deals.
I'm mainly doing the white labeling thing to have a space where I can build direct relationships with liquidity providers so I can trade as much volume as I'd like and have a business that wilI produce passive income when I retire from trading.....
Also I need not prove anything to you my fellow trader, i did not make a claim I stated a fact...naturally persons are gonna want me to prove what I say so that they can ask me what's my strategy and laud me as a guru....the thing is I'm not looking for a following or to be praised etc...I used to dream about reaching a million dollars trading account balance and becoming the big cheese so to speak, but success has a way of changing a person and rebalancing their perspectives and priorities...
I don't need to open a hedge fund as I'm content with growing my own capital, when you acquire a Lot of wealth you either get greedy or you realize that more money doesn't equal to more happiness and frankly, the journey to mastering myself helped me to overcome greed and thus money is now not even near the most important thing to me.... plus operating a hedge fund is not passive income and I want to retire and become a missionary for Jesus soon so all I want is a brokerage that can be run by a few managers while I work for Jesus....
  • #68
  • Jun 19, 2018 2:30pm Jun 19, 2018 2:30pm
Quoting Mevo
{quote} If 99% of people feel bad after they were drunk, why do people still get drunk ? On top of that, the reasoning is totally backwards: If people still trade, THEN 10% of them must be profitable ? (again, all this "profitable" thing is very dependent on the time period)
Trading is addiction for somebody, especially for those who carried away with dream and fancy to become millionaire. Taking trading as a job eliminates emotions, though you can easily lose motivation.
  • #69
  • Jun 19, 2018 2:44pm Jun 19, 2018 2:44pm
if 99% lose money, then that means there is an absolute fortune for the ones who have enough sense to keep it small until they can become profitable on some level and then scale up...and if you never become profitable then by keep it small you won't lose much...if you can't grow a $100-500 at least somewhat a big account won't help much
  • #70
  • Jun 19, 2018 2:56pm Jun 19, 2018 2:56pm
Quoting zghnno
Seriously, where this repeated stats came from? According to IG "The actual proportion of profitable accounts across IG’s European clients for the calendar year 2017 was 24 percent. This is from IG response to ESMA call. Source attached. {image}

The repeated stats come from reliable sources that look into it over a longer period than just 1 year.
76% losers at 12 month do perfectly fit in the picture, because at 5 years we are already at 98%....
So the 99.9% is a realistic number for speculative retail forex trading....

Keep in mind the IG stated that about 50000 of 110000 customers do not use CFD as a purely speculative tool, the use it to hedge commodity risks or currency risks of their exposure in business or brokerage accounts.... doing so, they don't have a speculative motive and may very well gain on their CFD while losing in their brokerage portfolio over a certain period of time. Excluding such accounts and just look at those that just do retail forex speculative trading using significant leverage, the actual percentage of losers would be far bigger in one year, most likely already close to 100%. ESMA knows this, as well as all forex brokers..... the only one that have no clue are dumb retail traders that are getting fleezed year after year an even complain when the regulator tries to so down their self destructive behaviour.

These are simple facts, not fiction. They sell you a fake dream of profitable retail forex trading. That is just one big lie!

ESMA measures are of great benefit to all retail traders, because leverage is one of their major disadvantage against other market participants.
A leverage of 30 is still far to high for any only slightly professional trader anyway. Whenever I see somebody complaining in this regard, I know for sure this guy is an addicted gambler, not a trader.
  • #71
  • Jun 19, 2018 3:08pm Jun 19, 2018 3:08pm
Quoting alphadude
{quote} $3000 to 3M; that is inspiring. can you backup your claim?
Dude, please
The "Listen, I'm not one to type long messages or even make posts for that matter" as an introduction, or the "I'm actively in the process of opening my own brokerage, mainly because the volumes I trade are too large for the current broker I use" weren't enough ?

If there is a way to bet on the fact that this story isn't true, I'm doing an all-in, eyes closed. That's a sure bet, and I know to spot one when I see one.
  • #72
  • Jun 19, 2018 4:15pm Jun 19, 2018 4:15pm
Quoting Diverge
{quote} I'm mainly doing the white labeling thing to have a space where I can build direct relationships with liquidity providers so I can trade as much volume as I'd like and have a business that wilI produce passive income when I retire from trading..... Also I need not prove anything to you my fellow trader, i did not make a claim I stated a fact...naturally persons are gonna want me to prove what I say so that they can ask me what's my strategy and laud me as a guru....the thing is I'm not looking for a following or to be praised etc...I used...
you can do it in Nigeria. if you know what i mean.
  • #73
  • Jun 19, 2018 4:16pm Jun 19, 2018 4:16pm
Quoting Mevo
{quote} Dude, please The "Listen, I'm not one to type long messages or even make posts for that matter" as an introduction, or the "I'm actively in the process of opening my own brokerage, mainly because the volumes I trade are too large for the current broker I use" weren't enough ? If there is a way to bet on the fact that this story isn't true, I'm doing an all-in, eyes closed. That's a sure bet, and I know to spot one when I see one.
I wonder why he spent all that effort to type that message.

he is surely a BS millionnaire
  • #74
  • Jun 20, 2018 7:26pm Jun 20, 2018 7:26pm
Yes you are absolutely right. By following other's trade strategies you won't be able to learn the art of trading. Invest in learning before you invest in trading. We can follow one's strategy but we can't follow how he/she thinks and feels while trading. That makes the difference.
  • #75
  • Jun 21, 2018 3:16am Jun 21, 2018 3:16am
Quoting MariaEduard
{quote} Lol; actually following others is not a proper way; unfortunately most of the scammers offers this knd of automatic service. So, new traders should careful on it and try for only manual trading.
True, they need to. Thanks for punching on the face of 99.9999% automated ones.
  • #76
  • Jun 21, 2018 3:22am Jun 21, 2018 3:22am
Quoting Diverge
{quote} I'm mainly doing the white labeling thing to have a space where I can build direct relationships with liquidity providers so I can trade as much volume as I'd like and have a business that wilI produce passive income when I retire from trading..... Also I need not prove anything to you my fellow trader, i did not make a claim I stated a fact...naturally persons are gonna want me to prove what I say so that they can ask me what's my strategy and laud me as a guru....the thing is I'm not looking for a following or to be praised etc...I used...
That's cool, a real disciple. I adore this message.
  • #77
  • Jun 21, 2018 4:20am Jun 21, 2018 4:20am
Quoting Mevo
{quote} Dude, please The "Listen, I'm not one to type long messages or even make posts for that matter" as an introduction, or the "I'm actively in the process of opening my own brokerage, mainly because the volumes I trade are too large for the current broker I use" weren't enough ? If there is a way to bet on the fact that this story isn't true, I'm doing an all-in, eyes closed. That's a sure bet, and I know to spot one when I see one.

I am increasing the bet - I can say he cannot do that even in demo .

- He is not greedy but guts to turn 3K into millions.
- His plan is to get rich and work for jesus. If you want to become a missionary for jesus you don't need money you can start right away .

* I think there is too much sun from where he is.. brain melted
  • #78
  • Jun 21, 2018 4:29am Jun 21, 2018 4:29am
Quoting Diverge
{quote} I'm mainly doing the white labeling thing to have a space where I can build direct relationships with liquidity providers so I can trade as much volume as I'd like and have a business that wilI produce passive income when I retire from trading..... Also I need not prove anything to you my fellow trader, i did not make a claim I stated a fact...naturally persons are gonna want me to prove what I say so that they can ask me what's my strategy and laud me as a guru....the thing is I'm not looking for a following or to be praised etc...I used...
I would humbly ask you to refrain from mentioning Lord Jesus while you trade brother becos trading is full of deceits and lies not to be used loosely with the name of our holy Lord. Amen.

GS
  • #79
  • Jun 24, 2018 2:25am Jun 24, 2018 2:25am
Quoting Diverge
{quote} I'm mainly doing the white labeling thing to have a space where I can build direct relationships with liquidity providers so I can trade as much volume as I'd like and have a business that wilI produce passive income when I retire from trading..... Also I need not prove anything to you my fellow trader, i did not make a claim I stated a fact...naturally persons are gonna want me to prove what I say so that they can ask me what's my strategy and laud me as a guru....the thing is I'm not looking for a following or to be praised etc...I used...
Great post, good for you. I’d follow you.
  • #80
  • Jun 25, 2018 12:21am Jun 25, 2018 12:21am
Quoting MatthewRoy
{quote} True, they need to. Thanks for punching on the face of 99.9999% automated ones.
You are always welcome; by the way I think new traders need to focus on only manual trading.
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