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95% Lose in FX is a Myth: % Profitability in the US last year

  • #121
  • Jun 16, 2014 2:46pm Jun 16, 2014 2:46pm
Quoting squawk
{quote} Quite honest can't believe the grief commentary you are receiving..
Im pretty sure I didn't have a hand in any of these magical %'s. I just chuckle at the vitriol.

The thread is simply : It seems 5% is a myth. I have submitted some compelling data. I'd be truly interested in seeing data that moves the numbers towards the 5%. Please?

(I'd have thought any sign of good news would invite cheers?!)
In life you get 3 types of people, those who can count and those who can't.
  • #122
  • Jun 16, 2014 2:55pm Jun 16, 2014 2:55pm
Quoting HedgePiglet
{quote} Your near-valve-burst is making me laugh. I have no beef with you and why you're so incensed that I have begun a lively discussion is providing me with entertainment. You are screaming at a tree. Im profitable. I have no opinion beyond my own experience and I have opened a debate. If it soothes you to use exclamation marks, please go ahead. Im im going to enjoy a beer, having concluded a profitable days trading.
Why don't you just stick to your trading then. Honestly what will you get out of this topic including the quarterly vague profit information (missing a bunch of information in general). Keep on doing what you are doing but there is definitely something else at play here. I'll take my leave now. Have a nice one.
  • #123
  • Jun 16, 2014 3:01pm Jun 16, 2014 3:01pm
Quoting Robertk
{quote} Why don't you just stick to your trading then. Honestly what will you get out of this topic including the quarterly vague profit information (missing a bunch of information in general). Keep on doing what you are doing but there is definitely something else at play here. I'll take my leave now. Have a nice one.

Thank you my friend. I achieve nothing. Not a thing other than to enjoy the debate.
In life you get 3 types of people, those who can count and those who can't.
  • #124
  • Jun 16, 2014 3:09pm Jun 16, 2014 3:09pm
Quoting HedgePiglet
{quote} Im pretty sure I didn't have a hand in any of these magical %'s. I just chuckle at the vitriol. The thread is simply : It seems 5% is a myth. I have submitted some compelling data. I'd be truly interested in seeing data that moves the numbers towards the 5%. Please? (I'd have thought any sign of good news would invite cheers?!)
I haven't a clue about the subject but I had to chuckle at this a bit and just say .... Welcome to the wonderful world of "forum trading" the Spot FOREX market. No matter what you offer, helpful or not, good bad or indifferent, there will always be a plethora of folks just waiting to shoot it, and you, full of holes...lol

Interesting topic by the way. Thanks for the info. Helpful or not, good bad or indifferent.
Ghost Rider - WWTBMD?
  • #125
  • Jun 16, 2014 3:12pm Jun 16, 2014 3:12pm
Quoting albchr
{quote} I haven't a clue about the subject but I had to chuckle at this a bit and just say .... Welcome to the wonderful world of "forum trading" the Spot FOREX market. No matter what you offer, helpful or not, good bad or indifferent, there will always be a plethora of folks just waiting to shoot it, and you, full of holes...lol Interesting topic by the way. Thanks for the info. Helpful or not, good bad or indifferent.
You're welcome, my beer is cold and providing fortitude!
In life you get 3 types of people, those who can count and those who can't.
  • #126
  • Jun 16, 2014 3:14pm Jun 16, 2014 3:14pm
I'm convinced that you cannot create a positive discussion about people making money in Forex without the trolls attacking and everyone thinks if you post that you make money trading Forex that you must have a hidden agenda. Hedge, I applaud you for trying to open some eyes I really do but there seems to be general vitriol against anyone who makes money at this Game. I just don't think you can win against the trolls. It used to bother me but not anymore I just put on the Troll repellent and I'm good!

Let them be miserable I don't care because at the end of the day, month, quarter, and year I'm living a very nice lifestyle solely from trading Forex
  • #127
  • Jun 16, 2014 3:24pm Jun 16, 2014 3:24pm
Quoting yazzie
I'm convinced that you cannot create a positive discussion about people making money in Forex without the trolls attacking and everyone thinks if you post that you make money trading Forex that you must have a hidden agenda. Hedge, I applaud you for trying to open some eyes I really do but there seems to be general vitriol against anyone who makes money at this Game. I just don't think you can win against the trolls. It used to bother me but not anymore I just put on the Troll repellent and I'm good! Let them be miserable I don't care because at...
Good to hear Yazzie, your neighbours and grandpa have achieved the same as you according to the latest forex profit statistics so why don't we all go on one big holiday the all of us.
  • #128
  • Jun 16, 2014 3:31pm Jun 16, 2014 3:31pm
Quoting Robertk
{quote} Good to hear Yazzie, your neighbours and grandpa have achieved the same as you according to the latest forex profit statistics so why don't we all go on one big holiday the all of us.
Hey Robert, in fact that's just what I did. Just returned from a Forex Conference (meaning legitimate tax write-off vacation against trading profits in my Forex Business) in Cyprus. Sorry to say though that I have no hidden agenda either!
  • #129
  • Jun 16, 2014 3:36pm Jun 16, 2014 3:36pm
Quoting HedgePiglet
In an effort to deal with this lingering stink we constantly hear about how this mythical 5% of FX traders are profitable and the rest are all losers, I have discovered a public document with some VERY interesting statistics. I have long been an advocate that this 5% rumour cannot be accurate as every trader I know personally is in profit and I have finally found a reputable report that kicks the 5% in its nuts. I do not have info on exactly HOW profitable they are, the numbers only indicate IF the account has turned a profit in the previous year....
This is data over the last year, during a time of record low fx volatility.....show me data over the past 10 years
  • #130
  • Jun 16, 2014 3:40pm Jun 16, 2014 3:40pm
Quoting yazzie
{quote} Hey Robert, in fact that's just what I did. Just returned from a Forex Conference (meaning legitimate tax write-off vacation against trading profits in my Forex Business) in Cyprus. Sorry to say though that I have no hidden agenda either!
Let me ask you. At the conference, would you prefer to be with a small group of traders that know what they talk about, or be surrounded by the average Joe that copied "wonderfull pips 3000 ultra". I hate to say, but if it tends to be 40% that might just be the case.
  • #131
  • Jun 16, 2014 3:42pm Jun 16, 2014 3:42pm
Quoting HedgePiglet
{quote} You're welcome, my beer is cold and providing fortitude!
Raising a cold Corona to you now sir.
Ghost Rider - WWTBMD?
  • #132
  • Jun 16, 2014 3:42pm Jun 16, 2014 3:42pm
Quoting mfoste1
{quote} This is data over the last year, during a time of record low fx volatility.....show me data over the past 10 years
Hi mfoste1, I have actually asked for more/extended info and will provide it with pleasure. It's a small snapshot over a small period, but it's a start.
In life you get 3 types of people, those who can count and those who can't.
  • #133
  • Jun 16, 2014 3:46pm Jun 16, 2014 3:46pm
Quoting HedgePiglet
{quote} Hi mfoste1, I have actually asked for more/extended info and will provide it with pleasure. It's a small snapshot over a small period, but it's a start.
Verified by legit sources, 5 years+, large enough sample, including information on drawdown. Post this and I might just shut my mouth forever in this topic.
  • #134
  • Jun 16, 2014 3:54pm Jun 16, 2014 3:54pm
Quoting Robertk
{quote} Verified by legit sources, 5 years+, large enough sample, including information on drawdown. Post this and I might just shut my mouth forever in this topic.
I smiled again. Robert, this is not a pi$$ing contest and my aim is not to put you in your place, but if you put a beer on it you have my attention!

Jokes aside, I spoke with a large Japanese firm last week who gave me a number for the year in the 40%. I have no reason to doubt this as accurate and it does give me a better sense of what is really happening out there. Sadly I cannot go on the record with this but I was very pleased when I discovered more papers with similar numbers.

I won't shave my head or eat an earthworm if it turns out its 5%. That won't make me (or you) 'wrong', as we are simply working with the information we are given.

You're Dutch. You should still be in the warm afterglow of your performance against Spain?!
In life you get 3 types of people, those who can count and those who can't.
  • #135
  • Jun 16, 2014 4:05pm Jun 16, 2014 4:05pm
I would be up for shaving my head in case I am wrong. I became bald from forex anyway hah ( not even kidding unfortunately ). At least I am called Robben for that matter so you wont hear me complaining... a beer sounds good btw..
Quoting HedgePiglet
{quote} I smiled again. Robert, this is not a pi$$ing contest and my aim is not to put you in your place, but if you put a beer on it you have my attention! Jokes aside, I spoke with a large Japanese firm last week who gave me a number for the year in the 40%. I have no reason to doubt this as accurate and it does give me a better sense of what is really happening out there. Sadly I cannot go on the record with...
  • #136
  • Jun 16, 2014 6:22pm Jun 16, 2014 6:22pm
Quoting HedgePiglet
{quote} In an effort to prevent you suffering what can only be described as a truly momentous aneurism, I have edited my comment to fit. The commentary I have says annually, the doc Hanover submitted is quarterly,
it's the same information to the exact figure.

I********** B****** - 45.3% in Profit
O**** - 32.5% in Profit
F*** - 29.9% in Profit
I** - 23.1% in Profit
G*** C****** - 27.0% in Profit
I***/T*********** - 30.2% in Profit
F*** - 28.0% in Profit
C***** - 42.0% in Profit
M* T****** - 26.8% in Profit

and
Attached Image


before doing this thread you should have done your job right. and you made a huge mistake and still stay by it's side.
  • #137
  • Jun 16, 2014 6:39pm Jun 16, 2014 6:39pm
Quoting HedgePiglet
{quote} This report is the first, factual, evidence-based study that torpedoes the principle that everyone who does this loses. If it makes you feel any better, the year before that the stats were even more impressive, 2012: 46.5% - 16,712 Accounts 43.0% - 610 Accounts 40.5% - 21,704 Accounts 36.0% - 10,566 Accounts 33.0% - 3,726 Accounts 31.0% - 9,828 Accounts 31.0% - 20,379 Accounts 30.1% - 3,929 Accounts 27.6% - 5,242 Accounts 22.7% - 2,076 Accounts The test was out of 95,701 accounts.
Attached Image


this is for 2012 Q4. the same information.
in your little head q4 equals entire year. actually it's not. it's just q4. the only study which i found and it shows long term is this.
http://theessentialsoftrading.com/Bl...tability-data/

i bet you will not be long until you will start another endeavour because you certainly fail at this one. month after month profitable will set you in the best traders in the world category. and you are not. you are just high on optimism.
  • #138
  • Jun 16, 2014 6:46pm Jun 16, 2014 6:46pm
Main reason why people F**** up and blow their accounts then blame FOREX is because:

1. No trading plan (gamble most of the time)
2. No education or not enough
3. Emotional\impatient
4. Over leverage\Risk too much (no money management practices)

I have blown 5 accounts. I'm a loser, only because i refuse to follow those simple rules.
If i follow these simple rules I would come out a winner, but it is within our nature the weak minded to give in to temptations.

The first step to improvement and success is to realise your wrongdoing AND FOLLOW THESE SIMPLE STEPS!
  • #139
  • Jun 16, 2014 6:55pm Jun 16, 2014 6:55pm
Quoting Arman_A
I'm a loser, only because i refuse to follow those simple rules.
until you will become succesful you will not know for sure of why did not succede. you only have guesses.
but no 1 reason people fail is that they don't have anything . they don't have an objective method or bad discretionary instincts .
  • #140
  • Jun 16, 2014 8:23pm Jun 16, 2014 8:23pm
I have to fully agree with you on this. Most people that trade Forex came to it believing that they will become a millionaire overnight. I'm sure some financial geniuses have accomplished this. However, this is not the norm. Just as in becoming a doctor, a lawyer, or any other profession takes time to learn, so does the Forex market. The reason for the 95% "failure" rate is not trading strategy; it is the person. Most of us fail at the beginning of trading Forex. Most new businesses fail period; why should Forex be any different? It is the individual, we approach it wrong. When people fail they tend to accept defeat and tell themselves that they tried and then validate their failures and move on. Trading financial instruments isn't like rubbing a magic lamp and wishing for a million dollars. The market owes you nothing, nobody owes you anything. When you get knocked down you have two choices, to try again or accept defeat and move onto the next thing. Nothing worth doing is ever easy. Remember that. You get out whatever you put into it anything you do in life.

As far as education goes, have you truly found yourself a real education? If you haven't educated yourself you should. Sure, there are good free resources out there but remember, sometimes you have to pay to get a solid trading education, just as you paid for college or trade school.

There is nothing wrong with blowing up your trading account. That's the reason why you don't start with large accounts. I've blown up several small trading accounts.. I'm not ashamed of admitting that. It was a quite humbling experience because it showed me that I didn't know what the hell I was doing and made me want to educate myself. There is nothing wrong with blowing up your trading account as long as it was a learning experience. It took me a few years as I said but now I am on my way and I have finally become a successful trader. Yeah, I am not a millionaire yet, but I have no doubts about it. I'm not looking to become rich in the next year or two. If it takes 5 or 10 years, so be it. I'm 34 years old and I have been working full time since I was 17. In all that time, I have yet to earn a million dollars in all those years combined. Remember that. Do it slow, you'll get there.

Quoting Arman_A
Main reason why people F**** up and blow their accounts then blame FOREX is because: 1. No trading plan (gamble most of the time) 2. No education or not enough 3. Emotional\impatient 4. Over leverage\Risk too much (no money management practices) I have blown 5 accounts. I'm a loser, only because i refuse to follow those simple rules. If i follow these simple rules I would come out a winner, but it is within our nature the weak minded to give in to temptations. The first step to improvement and success is to realise your wrongdoing AND FOLLOW THESE...
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