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What are the percentages of those that survive fx?

  • #21
  • Apr 11, 2007 12:29pm Apr 11, 2007 12:29pm
Of the 50 or so trading books I have read, half probably mention a figure of around 90% losers.

Is there some important reason why you need an exact source where this number comes from?

Compare trading to any athetic endeavor. How many play a sport in high school that then move to the college level that then move on to the pro's.

I would say less than 10% would be remaining at the pro level. More like 1%.
  • #22
  • Apr 13, 2007 10:17am Apr 13, 2007 10:17am
The CEO at InterbankFX claims that 49.6% of their traders are profitable during a 22 month test period.

Quote
At Interbank FX, this is not the issue. At the end of 2006, we tracted customer profitability for the previous 22 months. During this time 49.6% of our Standard account customers had been profitable on a monthly basis. We believe that the 49.6% customer profitability level of our customers to be one of the highest in the industry. I believe the reason for our customers success to be the Interbank FX business model of providing tight spreads, enhanced technology and "straight though processing" without any intervention from Interbank FX.
  • #23
  • Apr 13, 2007 1:01pm Apr 13, 2007 1:01pm
Good thing pencils come with erasers.
  • #24
  • Apr 13, 2007 2:31pm Apr 13, 2007 2:31pm
Quoting imbiber
The CEO at InterbankFX claims that 49.6% of their traders are profitable during a 22 month test period.
"At Interbank FX, this is not the issue. At the end of 2006, we tracted customer profitability for the previous 22 months. During this time 49.6% of our Standard account customers had been profitable on a monthly basis. We believe that the 49.6% customer profitability level of our customers to be one of the highest in the industry. I believe the reason for our customers success to be the Interbank FX business model of providing tight spreads, enhanced technology and "straight though processing" without any intervention from Interbank FX."
hmm. Interesting.
Not that I want to call him a liar, but that figure is a little hard to believe. Not to mention the NFA fine for false statements from IBFX doesn't help convince me.

And to take it one step further and say that the reason for their success is IBFX's business model? I dunno about that... (and I'm an IBFX client)

But that's a whole different topic.
  • #25
  • Apr 13, 2007 6:35pm Apr 13, 2007 6:35pm
I believe 80-90% are loosers.

only a small 5-10% are winners

the discrepancy? money to the brokers/banks in spreads.
  • #26
  • Apr 13, 2007 7:42pm Apr 13, 2007 7:42pm
Quoting imbiber
The CEO at InterbankFX claims that 49.6% of their traders are profitable during a 22 month test period.
I would think that percentage would be much higher.
  • #27
  • Apr 13, 2007 7:55pm Apr 13, 2007 7:55pm
Quoting imbiber
The CEO at InterbankFX claims that 49.6% of their traders are profitable during a 22 month test period.
"At Interbank FX, this is not the issue. At the end of 2006, we tracted customer profitability for the previous 22 months. During this time 49.6% of our Standard account customers had been profitable on a monthly basis. We believe that the 49.6% customer profitability level of our customers to be one of the highest in the industry. I believe the reason for our customers success to be the Interbank FX business model of providing tight spreads, enhanced technology and "straight though processing" without any intervention from Interbank FX."
they did a 22 month test, and 49.6% "had been profitable on a monthly basis." that means that about half the people had ONE profitable month over a 22 month period. LOL!!! does that mean that half the people never had a profitable month in 22 months?

and for you guys who are trying to verify this "90% of traders fail" stat, great attitude!!! you should question everything in trading!! this 90% of traders fail thing is such a cliche, i have never seen any statistical report on this. im not saying i disagree with it, just saying i do not accept it as as truth. this happens far to often in trading, cliches get passed around so long that the proof is supposed to be self evident! ha!

Relax and be happy.
  • #28
  • Apr 13, 2007 9:17pm Apr 13, 2007 9:17pm
I also question whether 90% is correct.

It might actually be closer to 89% or 91%.
  • #29
  • Apr 13, 2007 10:13pm Apr 13, 2007 10:13pm
Ask twoblink.

I'm sure he can evaluate the data and wouldn't be surprised if he came back with something like...

20% will be successfull... [80/20 rule]

Of the 20%...
50% will quit their Day Job {10% of the Whole}
30% will invite their 'Significant Other' to retire {7% of the Whole}
15% will modify their lifestyle {3% of the Whole}
AND
5% will kiss the rules goodbye { 1% of the Whole }
  • #30
  • Apr 13, 2007 10:30pm Apr 13, 2007 10:30pm
If we're talking about consistantly winning year after year over say a 10 year period I think the odds are more like 99.9% you won't make it.

That said, I have no intention of stopping.
How you act is more important than how you feel.
  • #31
  • Last Post: Apr 13, 2007 11:41pm Apr 13, 2007 11:41pm
To me, 95% failing in forex is like Santa Claus. It's just a way to keep the Christmas spirit.

What I mean by this: Forex is RISKY. I know personally when I first started, and heard that 95% of traders fail, I was more cautious. It is this sort of caution that every new trader needs to use when learning the ins and outs of trading. Otherwise, you MAY fail. I use the term MAY very definitively with only a small loophole of being the lucky SOB that makes $1 million his first year from $1000, or maybe you're a genius or better yet, a psychic!

Whether this statistic is actually true or not; proceed with caution.

So be good kids, or else no presents come December...

Best of luck,

Kevin
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