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95% traders go broke, only 5% survive

  • #181
  • Oct 23, 2013 2:32am Oct 23, 2013 2:32am
Im the one is failed so far,thats why i search for credible internet forum trading to support me,so far forexfactory is the best instead investing.com ( but if someone knew the other forums,please give me a shot )

i ever lost my entire money from my saving,is hurt but i never give up,i keep trying even lose till now

but from the pain there's a gain
  • #182
  • Oct 23, 2013 10:02am Oct 23, 2013 10:02am
Quoting Phiong387
Im the one is failed so far,thats why i search for credible internet forum trading to support me,so far forexfactory is the best instead investing.com ( but if someone knew the other forums,please give me a shot ) i ever lost my entire money from my saving,is hurt but i never give up,i keep trying even lose till now but from the pain there's a gain
Go to www.BabyPips.com where you will find a school of pipsology (I think).
They have a school anyway which will teach you a lot about chart patterns and many other things.

From FF, hopefully, you will learn the other part which you need for trading: how to ignore the tips from some banks, how to determine some of the macro issues which affect currency markets, what happens on a Friday that is different from other days.

Best of luck to you
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #183
  • Oct 24, 2013 9:18am Oct 24, 2013 9:18am
Do people actually make money from this?
I heard many has been making losses and as a newbie, I wouldnt want to be making a loss, I know you should have the proper knowledge before venturing into forex trading, but can you really make money from it?
  • #184
  • Oct 24, 2013 9:29am Oct 24, 2013 9:29am
I got myself a mentor at Forexmentorpro.com. They have a few mentors and systems to choose, and you learn to discipline your trading.
It costs a few dollars a month, but learning from a pro is better than reinventing the wheel.
Also, DO NOT TRADE LIVE ACCOUNT until you are sure of yourself. Trade Demo account
  • #185
  • Oct 31, 2013 9:25pm Oct 31, 2013 9:25pm
As a new trader myself, this statistic is startling. I am looking to make a career change and am opening with 5k. Not a lot but not a ton either. I am going to risk 25k overall. I have been playing for six days now and my first five days I was NET profit $754. But I calculated times wrong and I thought the FED was speaking at 12pm pst instead of 11pm pst. I was wrong at that cost me $1180.00. I lost all my profit for the last five days and then some. Point being, if I was seasoned like most of you I would still be profitable today. That loss rattled me a bit and I only made one quick small trade today. I made 1 oil trade and made $20.00. LOL

Point being, I want to make this work and have been playing a SIM account for the last 60 days. Its only been just recently I have moved on to real money.
  • #186
  • Nov 1, 2013 3:58am Nov 1, 2013 3:58am
Quoting AchilliesM5
As a new trader myself, this statistic is startling. I am looking to make a career change and am opening with 5k. Not a lot but not a ton either. I am going to risk 25k overall. I have been playing for six days now and my first five days I was NET profit $754. But I calculated times wrong and I thought the FED was speaking at 12pm pst instead of 11pm pst. I was wrong at that cost me $1180.00. I lost all my profit for the last five days and then some. Point being, if I was seasoned like most of you I would still be profitable today. That loss rattled...
There are at least a couple of times when things change and upset your game play. One is moving to real money from demo, the other is moving up contract sizes as your account grows.

Set realistic growth targets, keep your trade leverage low, use proper trade planning.
Good luck
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #187
  • Nov 1, 2013 5:06am Nov 1, 2013 5:06am
Quoting AchilliesM5
As a new trader myself, this statistic is startling. I am looking to make a career change and am opening with 5k. Not a lot but not a ton either. I am going to risk 25k overall. I have been playing for six days now and my first five days I was NET profit $754. But I calculated times wrong and I thought the FED was speaking at 12pm pst instead of 11pm pst. I was wrong at that cost me $1180.00. I lost all my profit for the last five days and then some. Point being, if I was seasoned like most of you I would still be profitable today. That loss rattled...

USA changing there time a week or 2after everyone else is a pain, ruins all my timing.

Take all of your 25k out, okay but 2k area, trade off that for the time being to learn with that and keep the rest in reserve.


You will blow your first account very quickly then never try again, to take there money, thats what they want everyone to do.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #188
  • Nov 11, 2013 11:24pm Nov 11, 2013 11:24pm
Quoting sandycarrot
in every internet forum we get a warning 95% traders go broke ,only 5% survive ,,but,, in every internet forum we see and hear this many people say they are profitable maybe about 98% only a few people who say that they failed maybe about 2% what do you think guys ? S.C.
I am profitable.

Don't look down.
The Thief of Wall Street
  • #189
  • Nov 11, 2013 11:29pm Nov 11, 2013 11:29pm
Quoting trendytradin
One of my friends who works for one of the biggest FX brokers (in the world) told me that less than .5% of their client base make money of FX. He also told me of a few well know and even respected educators don't make money on their accounts...
Your friend is violating terms of employment and doing a very unethical thing. If I ever found out he works for one of the brokers I have account with, will definitely take a legal action. Once said that, what's the name of the broker and what's your friend's name?
The Thief of Wall Street
  • #190
  • Nov 12, 2013 3:47am Nov 12, 2013 3:47am
Quoting Chicky
{quote} I am profitable. Don't look down.

Trust that's sarcasm right ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #191
  • Nov 12, 2013 10:40pm Nov 12, 2013 10:40pm
Quoting Turveyd
{quote} Trust that's sarcasm right ??
OK, you look down
The Thief of Wall Street
  • #192
  • Nov 13, 2013 12:47am Nov 13, 2013 12:47am
Long Term they failed ... yes they arrange few success ... but when there trading strategy start loosing they started to Looking for UPDATE or Another trading strategy and blow there accounts .. also include greed and fear factor ..
"Know what you own, and know why you own it" — Peter Lynch
  • #193
  • Edited 2:37am Dec 19, 2013 1:34am | Edited 2:37am
Ok that is 4 quarters profitable in a row, one after the other. Q3 was a close thing but Q4 is a solid 14%.
I failed to maintain account growth rate due to failing to properly achieve an increase in position size, so that is something more that I learned.

I do not know if that is an average time for a retail self-taught trader to become profitable, with a lot of help from articles/people on FF.
I think it may be slightly longer than some have managed.

One thing is for sure, from the outset I would not have believed anybody telling me that it would take 7 years.
If I had believed it I might not have been here now, it is only the few teases of success and a large dose of determination that kept me going.

I am probably off the forum, mostly, until next year so do not expect responses from me meantime.
Total growth on the year has been 64%, not earth shattering but that was not the aim.
Next year I intend to trade a larger account size, again, and maintain the steady performance.

Have a good holiday season, and wishing you many green pips next year!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #194
  • Dec 19, 2013 3:16am Dec 19, 2013 3:16am
Well, trading is like any other job - it takes 8-10yrs to master some intermediate-to-excellent grade.
  • #195
  • Dec 20, 2013 4:15am Dec 20, 2013 4:15am
Quoting michaelpelly
Well, trading is like any other job - it takes 8-10yrs to master some intermediate-to-excellent grade.
Have a good Christmas my friend.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #196
  • Jan 13, 2014 9:19pm Jan 13, 2014 9:19pm
Someone actually posted that page and no one seems to care. Looks like people here like to think that they will fail and so everyone else :
http://forexmagnates.com/q3-2012-us-...fx-pro-on-top/
  • #197
  • Jan 14, 2014 4:03am Jan 14, 2014 4:03am
Quoting Capelli
Someone actually posted that page and no one seems to care. Looks like people here like to think that they will fail and so everyone else : http://forexmagnates.com/q3-2012-us-...fx-pro-on-top/
A more useful data-set would be a breakdown of the nature of the clients at Citi, for instance, compared with other brokers to see if there is a demographic factor which is prevalent. It may be education, it may be account size as a percentage of income or other wealth. That would be useful.

Of anecdotal interest is the general shrinkage in the client base.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #198
  • Jan 14, 2014 6:09am Jan 14, 2014 6:09am
The figures you all mention in this thread are quite scary.
Of course if such information was easily available, most brokers would just close business.
If the figures were much different from this the brokers would be advertising them on TV.
So with the question in this terms, I believe these estimations are not too wrong.

What seems strange to me is the correlation that some have done that probability of profits is linked to account size. I just see the account size as an index of "how comfortable is one with risking" which is linked to the level of education.

If I were clueless wanting to experiment with forex trading, then I would try it by risking the minimum possible, so I'd open a 50$ account.
But once I become a more navigated trader, then it's not worth my time any more doing all that trading for just few bucks, I will increase my risk and consequentially my account size.

profitability imho is linked to level of education, and the size of the accounts is just an indication on such level.

This noted I find the question of this topic to be wrongly posed, of course brokers have tons of unskilled traders and a few with actual forex education.

The real question here should be:
How many educated traders are actually successful?

or in other words:
Does anyone who gets an education in forex become successful?

which leads to:
how long does it take to become successful given one is getting proper education?

and:
which education works best?

These questions in my opinion make more sense.
  • #199
  • Jan 14, 2014 2:56pm Jan 14, 2014 2:56pm
I am not sure if you were responding to my post, but here is some clarification....
Quoting DonGiulio
What seems strange to me is the correlation that some have done that probability of profits is linked to account size.
I specifically did not link just to account size, but account size referred to other metrics. There are traders from many countries on this forum, in some of those countries $100 is a lot of money.

Quoting DonGiulio
profitability imho is linked to level of education, and the size of the accounts is just an indication on such level.
That is an assumption. I have higher education and yet it took me a long time to teach myself.

Quoting DonGiulio
The real question here should be: How many educated traders are actually successful?
or in other words: Does anyone who gets an education in forex become successful?
These two questions are not the same. The first question does not imply any capability in forex trading. The second question is relevant in a different way and would be interesting to know. Certainly traders without forex education are only successful until their luck runs out.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #200
  • Jan 14, 2014 4:01pm Jan 14, 2014 4:01pm
@Exodus I wasn't referring specifically to any of your posts, but more generally to several posts where I had the feeling such a correlation was being made, by mentioning statistics obtained in different ways, and I meant only to express my view on how these statistics should be intended.

I'm sorry if my words may have offended you, it was not in my intentions.

specifically regarding your three points, I would like to respond to the three points:

1: which post do you refer precisely? so I can more accurately reply to you
2: Sorry I probably wasn't clear, In my post I always meant level of education specific in forex trading
3: you are right, the questions are not the same, I tried to ask the two sides of the problem

Again, my apologies if I have seemed too harsh or have lacked of respect to anyone.

Best regards,
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