Read the headlines. I used to think it's only 5% but I think I'm hopeful because there are 25% of retail traders being profitable. The problem is for how long... {image}
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Very true! The above stats suggest around 20% of traders at any given time are profitable, but far fewer than that are profitable over an extended length of time. Anyone can be lucky in the short term but it takes skill to be lucky over the longer haul...
Read the headlines. I used to think it's only 5% but I think I'm hopeful because there are 25% of retail traders being profitable. The problem is for how long... {image}
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Can you please add more evidence on this statistic? I mean, the whole procedure.
Read the headlines. I used to think it's only 5% but I think I'm hopeful because there are 25% of retail traders being profitable. The problem is for how long... {image}
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Dear newbietofx,
If you think about it, this picture shows nothing useful and it adds nothing to you as a person apart from doubt for your trading. I can find many things wrong with those statistics (time period, reliability, how many included, weighting of data... etc.. List goes on and on). Best to focus on your self and make your own "reliable" statistics on, for example, compare your previous months trading to the next to analyze how your edge is performing.
The less you take notice of garbage and focus on the gems, the better your trading will be (from my experience).
Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
{quote} Dear newbietofx, If you think about it, this picture shows nothing useful and it adds nothing to you as a person apart from doubt for your trading. I can find many things wrong with those statistics (time period, reliability, how many included, weighting of data... etc.. List goes on and on). Best to focus on your self and make your own "reliable" statistics on, for example, compare your previous months trading to the next to analyze how your edge is performing. The less you take notice of garbage and focus on the gems, the better your trading...
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That's the key. People are easily lured with stats, even fake stats.
The picture is clearly seen that broker itself made it. where is the official one?
Read the headlines. I used to think it's only 5% but I think I'm hopeful because there are 25% of retail traders being profitable. The problem is for how long... {image}
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Please don’t mind, I have enough doubt! Because, I know what maximum brokers try to establish actually.
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Joined Mar 2017
|304 Posts
when you have to be experienced about money management then you can consider trading as an easy issue , otherwise no way , every faction is uncertain in Forex trading , without money management no way to survive in here at all.
Read the headlines. I used to think it's only 5% but I think I'm hopeful because there are 25% of retail traders being profitable. The problem is for how long... {image}
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The broker is telling you you should open an account with them because because their customers are more profitable with them than with the competition.
... now, I wonder what's wrong with this message ... hmmm. Any ideas ?
when you have to be experienced about money management then you can consider trading as an easy issue , otherwise no way , every faction is uncertain in Forex trading , without money management no way to survive in here at all.
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managing money is a good skill to survive in this stock market with successfully , but the main issue is this approach not works for all time . according to me, its all about a short time approach , nothing without it.
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Joined Jul 2020
|135 Posts
Trading is easy for those who have enough knowledge and skills in trading. They never take decisions emotionally. Their skills help them to make a profit from this risky market.
trading is easy but you will suffer some problems such as: anxiety if not making profits, sitting on the computer longer, easily getting obese because of sitting on the computer.
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Joined Jul 2020
|131 Posts
Trading is easy only if you have good knowledge, skills and mental capabilities. It's designed in a way so that not everyone can make money. Most people want to make money here with least knowledge and skills.
trading is easy but you will suffer some problems such as: anxiety if not making profits, sitting on the computer longer, easily getting obese because of sitting on the computer.
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That's why taking break is essential. After trade setup I always leave my pc and just monitor trade from mobile.
Trading is easy only if you have good knowledge, skills and mental capabilities. It's designed in a way so that not everyone can make money. Most people want to make money here with least knowledge and skills.
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True, one thing that Forex isn't is a get-rich-quick scheme. You can only make a profit here if you're committed and patient in both learning as well as in practice.
Not sure I would trust the stats on this one as it is for advertising purposes. I have been trading for a fair few years and never heard of that broker. I would worry less about other peoples stats and make your own. Just concentrate on your own trading and setting your own targets to reach.
In trading only those can be successful who have good knowledge and skills and I would like to suggest for new trader do not jump into trading field if you lack in the basic knowledge of forex trading.
