POLL: Are you profitable? Is the 95% losers myth true? | Forex Factory

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POLL: Are you profitable? Is the 95% losers myth true?

  • Poll

  • Have you made profits or lost money in your overall trading life?
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  • #1
  • First Post: Oct 12, 2014 4:54am Oct 12, 2014 4:54am
The only rule of this thread:
Please don't post about your profitability or not, just vote the poll, let's keep anything anonymous so the egos stay outside of the thread, this mean every post like "i'm profitable" or "i'm not profitable" is not welcome, if such posts do happen i will delete them, as they will be against the only rule of this thread.
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Some say 95% of traders do fail within the first few years, some say 50% of traders are profitable, some say less than 1% make it.

First of all let's define as per this POLL what we mean with profitable:

A profitable trader is one that as per today, have made an overall profit in his trading life.

This mean, if you opened your first trade 2 years ago, during these years you have surely lost and made money, the question is do you have made or lost money on overall?

Some examples:

If you have losted a total of 10k for example during the past 2 years, and now you are making 5k profits on a new account during the past 5 months, you are still not profitable as per this POLL.

Or, if you have made 100k from trading 3 years ago, and this year you have lost 50k, you are still profitable as per this POLL.

In other words, your last/current account doesn't matter, what it matter is the sum of all your trading activity in your whole trading life.

I'm very curious to see the results of the poll, one thing to say:
The poll votes are anonymous/secret, and will be forever.
So, nobody will ever know if you are profitable or not, not even me!

P.s.
Please be truthful when voting, we are producing some powerful statistical data here, and as the votes are anonymous, your ego would not benefit at all from lying about your profitability.
  • #2
  • Oct 12, 2014 11:21am Oct 12, 2014 11:21am
Remember though, just because you are profitable, or have lost, it doesn't have to mean by MUCH.
  • #3
  • Oct 12, 2014 1:54pm Oct 12, 2014 1:54pm
can't be trusted.
people will lie (state of delusion)
or they believe the demo account is real.
  • #4
  • Oct 12, 2014 2:39pm Oct 12, 2014 2:39pm
Quoting Mingary
can't be trusted. people will lie (state of delusion) or they believe the demo account is real.
Mmmm...
As for now, we have 7 votes, 4 profitables and 3 not profitables.
57% profitables, i've actually never ever meet a real profitable trader (even on internet) in my whole life, but we already got 4 here! In less than 24 hours!



Well jokings apart, still very early to make any judgement, i would like to see something like 250-500 votes before give it any sort of credit.
  • #5
  • Oct 12, 2014 2:50pm Oct 12, 2014 2:50pm
Quoting Mingary
can't be trusted. people will lie (state of delusion) or they believe the demo account is real.
Hopefully not, the poll is anonymous they have absolute nothing to gain if they lie and nothing to lose if they speak the truth. Hopefully after the poll is atleast 2-3 weeks old we shall see if the myth is true.

I`m curious about it. So please dont lie guys.
"There's a sucker born every minute" - P.T. Barnum
  • #6
  • Oct 12, 2014 6:17pm Oct 12, 2014 6:17pm
i didint vote for one reason i didnt start real trading yet
but i lost some money since last year as (program cost,small real accounts for test,some monthly charges and etc...)
but am sure that if i start real trading since couple of month i was making money but i prefer to stick to my main plan and do not run for 10$ or 100$ that i can make using small amount or capital and risk it for some money.

due to i live in Dubai and over here there is no pro traders ... i mean a lot of rookies but i mean some of real making money traders in the net and you can find them.

why you cant find real traders that making a huge of money every day ??!!!
simple .... i enter the forum if i have any problem in the market ... or i start losing some money due to bad habits or trading system
i am trying to get some reason that make the profitable trader to enter a rookie forum to vote.
  • #7
  • Oct 13, 2014 12:37am Oct 13, 2014 12:37am
Voted for Overall Lost Money
Very small group of traders are in profits, and very small group of profitable traders, earning from a big lots and big profit. Do you agree?
If you ask me to code/fix your EA... it's probably not for free...
  • #8
  • Oct 13, 2014 1:23am Oct 13, 2014 1:23am
Quoting radityo.ardi
Voted for Overall Lost Money Very small group of traders are in profits, and very small group of profitable traders, earning from a big lots and big profit. Do you agree?
hey hey let's not forget the only rule of the thread, just let's not write what we have voted to not influence/affect the voting intentions of other voters

Anyway i agree, from time to time i have seen here in FF some guys claiming to be one of the few profitable big lots big profits trader, but along the way they all revealed to be scammers, sadly.

So the profitable trader to me is still a urban legend, i'm pretty sure there are big lots and big profits profitable traders in the world and even here on FF anyway!
But they are soo few that find one or even have the pleasure to chat with him/her is somehow very difficult!

let's keep voting
  • #9
  • Oct 13, 2014 2:22am Oct 13, 2014 2:22am
Quoting notimportant
{quote} hey hey let's not forget the only rule of the thread, just let's not write what we have voted to not influence/affect the voting intentions of other voters Anyway i agree, from time to time i have seen here in FF some guys claiming to be one of the few profitable big lots big profits trader, but along the way they all revealed to be scammers, sadly.
That's pretty sad.

Quoting notimportant
So the profitable trader to me is still a urban legend, i'm pretty sure there are big lots and big profits profitable traders in the world and even here on FF anyway! But they are soo few that find one or even have the pleasure to chat with him/her is somehow very difficult! let's keep voting
I've seen somebody in this forum talked about his trading with his big trading lots (which is way too big) like 500 lots, and all do replied on them saying "oh yeah... I did that, just that not that much, probably 100 lots" while I'm sitting here struggling with my 0.01 lots.
If you ask me to code/fix your EA... it's probably not for free...
  • #10
  • Oct 13, 2014 6:43am Oct 13, 2014 6:43am
Quoting radityo.ardi
{quote} That's pretty sad. {quote} I've seen somebody in this forum talked about his trading with his big trading lots (which is way too big) like 500 lots, and all do replied on them saying "oh yeah... I did that, just that not that much, probably 100 lots" while I'm sitting here struggling with my 0.01 lots.
i know a guy he do 15k lots in average in a week and he is profitable since 2008 monthly 3% to 5%
  • #11
  • Oct 14, 2014 12:17am Oct 14, 2014 12:17am
Ok...

Summary as for now:
14 vote yes (profitable)
19 votes no (non profitable)

To me these numbers are simply ridiculous (sorry for that), however let's try to understand what's going on here, as i'm sure nobody is deliberately lying on an anonymous poll, so there must be an explanation.

And here is mine:

Simply put, there is a "recruitment" process in the retail forex industry that goes like this:
retail trader come, stay in the business for a few months/years, lose its money and get back to his life.
So, every year we have lots of new traders and we lose lots of old traders, there is like a generational change happening constantly.
And this is why the retail-business-model do work, there is always new people, new suckers if we want to say like that.

I'm pretty sure most (if not all) of the 14 yes votes comes from people that are trading from a few months, and will probably be gone in few more months.

Damn i'm soo pessimistic.
  • #12
  • Oct 14, 2014 1:16am Oct 14, 2014 1:16am
Quoting notimportant
Ok... Summary as for now: 14 vote yes (profitable) 19 votes no (non profitable) To me these numbers are simply ridiculous (sorry for that), however let's try to understand what's going on here, as i'm sure nobody is deliberately lying on an anonymous poll, so there must be an explanation. And here is mine: Simply put, there is a "recruitment" process in the retail forex industry that goes like this: retail trader come, stay in the business for a few months/years, lose its money and get back to his life. So, every year we have lots of new traders...
Yep, that would be right.
No one makes money long term.
  • #13
  • Oct 14, 2014 1:28am Oct 14, 2014 1:28am
Quoting notimportant
Ok... Summary as for now: 14 vote yes (profitable) 19 votes no (non profitable) To me these numbers are simply ridiculous (sorry for that), however let's try to understand what's going on here, as i'm sure nobody is deliberately lying on an anonymous poll, so there must be an explanation. And here is mine: Simply put, there is a "recruitment" process in the retail forex industry that goes like this: retail trader come, stay in the business for a few months/years, lose its money and get back to his life. So, every year we have lots of new traders...
the main thing that i cant get it in my head the reason that people who do not believe on forex market as business still rounding in this kind of websites ...

i dont enter gambling websites because i dont like it , i dont enter football websites because i believe it is a waste of time but i like to play in real life.

i mean if any one do not like something or believe that it is scam why to bother and try to change other people believes... nothing in your pocket.

but i have to be here to learn,take advice and try to help other members if i can.

what is your reason ?!!
  • #14
  • Edited 2:16am Oct 14, 2014 1:36am | Edited 2:16am
Quoting hamedmohd
{quote} the main thing that i cant get it in my head the reason that people who do not believe on forex market as business still rounding in this kind of websites ... i dont enter gambling websites because i dont like it , i dont enter football websites because i believe it is a waste of time but i like to play in real life. i mean if any one do not like something or believe that it is scam why to bother and try to change other people believes... nothing in your pocket. but i have to be here to learn,take advice and try to help other members if...

I said this before:

Anyone can be a winner in retail forex short term. No one is a winner in retail forex long term.
And, being a professional full time retail forex trader feels great, until all the money runs out.
The winner / loser ratio is a simple Gaussian distribution. The humble law or averages will make sure that a few individuals at any given moment will be winners - and even big winners!
It's obvious that at any given time you will have a percentage of losers and winners (always more losers than winners). But what does it really mean? There is no doubt that a few players can make a few pips for a while (and that's good!).. Unfortunately, being profitable during any given quarter does not mean it's sustainable for any particular individual.
What most fail to understand is that from period to period you are not looking at the same individual losers and the same individual winners. The winners of today become the losers of tomorrow and ever fewer losers may become winners to replace the defunct winners that have joined the rank of the losers. How do I know this? It's because the true data always shows more losers than winners! One caveat: A requirement is that new traders have to constantly join the game. The new traders are the fuel (new money) of the dwindling spiral. It will continue to spin downward -- and feed the forex industry -- as long as new players come in-- incidently this explains why the forex world has a proliferation of commercial calls to the masses to "give forex a try". "The water is fine" message is always loud and clear. Getting new bodies in the game is essential for the survival of the industry. The real money is not made in the trading, but in the selling (of retail forex related goods and services).
If you do not understand or know this already; you are still in the "deer in the headlight" phase.
  • #15
  • Oct 14, 2014 1:47am Oct 14, 2014 1:47am
Quoting hamedmohd
{quote} the main thing that i cant get it in my head the reason that people who do not believe on forex market as business still rounding in this kind of websites ... i dont enter gambling websites because i dont like it , i dont enter football websites because i believe it is a waste of time but i like to play in real life. i mean if any one do not like something or believe that it is scam why to bother and try to change other people believes... nothing in your pocket. but i have to be here to learn,take advice and try to help other members if...
My reason?
I like to understand/learn how things goes in this world, how the various systems coexist and interact with each other, and why things goes the way they goes.

From your defensive post i can see that you think to be (or dream to be) a profitable trader, and you feel hurt by my statements.

Sorry for that, this thread is really nothing about being personal, i know everybody here belive in the forex dream and when reading that such thing is only a dream somebody may get crazy and defensive, but that's fine this is also part of the system, so whoever want to reply back and argue with me or tell me i'm wrong and whatever just do it!!!

Just to be clear i don't say longterm constant profitability is not possible, but i say it do require an enormous amount of intelligence and understanding of how the human mind and the world work, and my theory here is that only 1 person every million (or 1 person every billion) can achieve it, i opened the poll to prove my theory right, but instead the numbers are what they are

tnx for your post by the way!
  • #16
  • Oct 14, 2014 2:00am Oct 14, 2014 2:00am
Quoting notimportant
{quote} My reason? I like to understand/learn how things goes in this world, how the various systems coexist and interact with each other, and why things goes the way they goes. From your defensive post i can see that you think to be (or dream to be) a profitable trader, and you feel hurt by my statements. Sorry for that, this thread is really nothing about being personal, i know everybody here belive in the forex dream and when reading that such thing is only a dream somebody may get crazy and defensive, but that's fine this is also part of the...

and thank you for your kind replay

any way every guy have a dream.... every day billions of dream come out inside people minds some of them take it seriously and some of them keep it as dream.

thanks god till now i achieve a lot of thing and am sure ... 100% that a can make some thing from this big game.

it is hard to change some ones believe and i dont think it is good place to discus this thing now so we dont change the main subject of the thread but i can till that take one week off from work and take a round around the city that you live and try to see every thing in different way that you was seeing it before

or read (secrets of millionaire mind) for T.Harv Eker

  • #17
  • Oct 14, 2014 2:12am Oct 14, 2014 2:12am
Quoting hamedmohd
{quote} and thank you for your kind replay any way every guy have a dream.... every day billions of dream come out inside people minds some of them take it seriously and some of them keep it as dream. thanks god till now i achieve a lot of thing and am sure ... 100% that a can make some thing from this big game. it is hard to change some ones believe and i dont think it is good place to discus this thing now so we dont change the main subject of the thread but i can till that take one week off from work and take a round around the city that you...
Wow thank you, i like reading that kind of books, this particular one i've never heard of before..
So, i'm going to give it a look, it looks already interesting!

By the way, maybe i was too much pessimistic in my last post (and the one before!), all i wanted to point out is that this business is really not an easy one, ok 1 person every million (or billion) is probably too much extreme, let's just say that in the very long term it may be true!

Ok i'm done with this side of the story (the realistic/longterm one), let's enjoy trading and good luck
  • #18
  • Oct 14, 2014 2:16am Oct 14, 2014 2:16am
Quoting notimportant
{quote} Wow thank you, i like reading that kind of books, this particular one i've never heard of before.. So, i'm going to give it a look, it looks already interesting! By the way, maybe i was too much pessimistic in my last post (and the one before!), all i wanted to point out is that this business is really not an easy one, ok 1 person every million (or billion) is probably too much extreme, let's just say that in the very long term it may be true! Ok i'm done with this side of the story (the realistic/longterm one), let's enjoy trading and good...


any way i have a list of books i will try to make publish it when i got the time....
but this book that i gave you it is my favorite book

i bought some copies and i gave it to some of my friends
  • #19
  • Oct 15, 2014 1:29pm Oct 15, 2014 1:29pm
Quoting Mingary
{quote} Yep, that would be right. No one makes money long term.
What do you mean by "long term" here?
  • #20
  • Oct 17, 2014 5:20am Oct 17, 2014 5:20am
Quoting xy76
{quote} What do you mean by "long term" here?

Long term means you can finally think of quitting your boring main job...
If you ask me to code/fix your EA... it's probably not for free...
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