90% fail, but maybe more succeed than we think?

You hear all the time that 85-95%(depending on where you get your info) of traders fail.

I've heard many times that that number can be attributed to many people falling for the "lifestyle"/lambo videos, trying to get rich quick, not treating it like a job and then failing. So that makes sense.

I just wonder what the success/fail numbers might look like for people who didn't fall for the "get rich quick" mind set. I wonder what percent become successful who take their time, go slower, with smaller position sizes, and maintain their risk management? That success rate has to be way higher, but I wonder if anyone has ever seen any of those numbers anywhere?

Any insights or ideas on that?

IMHO success isn't spending 8 hours a day for the same or returns (or slightly better) as a managed fund would give.
In my view the successful traders who know the structure and profit effortlessly are extremely rare.

Then you have the legends who dont know about winning streaks.

we have several threads in Forex Factory on this why traders lose.

Why 99% of retail traders lose money { here }

and hanover gave a long list why { here }

Isn't forex a null zero game so if 90 % of traders loose the other side made 90% profit

I also think, that in the retail word it is something very rare to run into. But that does not mean that it is absolutely and utterly impossible. It would also depend how you define the term success, but certainly there are people who are making tons of money trading whatever market you look at.
For some reason though, I also think that those people who are making big returns in comparison to their budget and the amount of their bets would not be advertising themselves out to the public, neither would they be overly eager to share their frameworks.

failure is relative to timeline. On a long enough time line, the survival rate of every enigma drops to zero.

i have not been profitable for 6 years yet because i am too gullible and been falling for scammers again and again because they evolve. But matter of fact, I started at 12, yeah, maybe I am not profitable out of growing up. I'm saying this because I noticed it in myself, I start to reckon that nobody gonna make money for me. I NEED TO PUT THE WORK IN. I NEED.
I was lucky because I started at so early age but I feel sorry to guys who have just started. Being in those 95% is almost impossible, you gotta be gifted not naturally, but industriously.


Ask yourself what truly interferes you (scammers e.g) and remove it.
That's how you become successful. It's possible.

Those that follow trading plan and honor stop loss are usually end at breakeven or slight loss due to transaction costs.
If you don't understand where you edge comes from the gains that you have currently are most likely transitory and just result of a lucky series trades with more wins that losses.

Hey Everyone,

I've got 3 years experience in trading foreign exchange and indice CFD markets, and I'm now looking for a trading buddy who I'd talk to regularly, share ideas around, and hold each other accountable for our trading decisions... If you're interested, I'd love to hear from you!

Kindly
ausfxtrad3r