Often, I hear people mentioning how 95% or 99% of all new traders fail.
This type of misinformed information in my opinion is very misleading
and damaging to the psyche of those trying to learn how to trade forex.
First the facts
Brokers inside the USA are now required by the CFTC to release the profitability rates in profitability percent, and also release the number of active traders. Although these numbers we will take a look out to prove the fallacy that 99% of trades loss money, are from the USA, we will assume that retail traders are as informed and therefore no better than traders around the world.
The true percentage of profitable traders
51% of Oanda traders were profitable in Q3. The others are far behind. GFT reports 33% and the rest are between 21% to 29%
These numbers destroy the myth that 95% or 99% of traders are not profitable.
Why this matters to those trying to learn how to trade
If you are told ahead of time that your odds of success are extremely rare, knowing that you are competing against some of the brightest minds in the word, your chances of success are greatly diminished compared to if you believed that others have succeeded and that you can too.
You can become a profitable traders, a large percentage of others have proven it and are doing it on a quarterly bases. Believe in yourself, you can do this, many others before you have.
Collectively let's change this consciences to a positive light enabling more to succeed.
Your thoughts and opinions are welcomed friends.
First the facts
Brokers inside the USA are now required by the CFTC to release the profitability rates in profitability percent, and also release the number of active traders. Although these numbers we will take a look out to prove the fallacy that 99% of trades loss money, are from the USA, we will assume that retail traders are as informed and therefore no better than traders around the world.
The true percentage of profitable traders
- Oanda has almost 50,000 active traders
- IBFX has 18,579 active traders
- FXCM has 15,023 active traders
- Gain has forex.com) has 11,344 active traders
- GFT has 10,358 active traders
51% of Oanda traders were profitable in Q3. The others are far behind. GFT reports 33% and the rest are between 21% to 29%
These numbers destroy the myth that 95% or 99% of traders are not profitable.
Why this matters to those trying to learn how to trade
If you are told ahead of time that your odds of success are extremely rare, knowing that you are competing against some of the brightest minds in the word, your chances of success are greatly diminished compared to if you believed that others have succeeded and that you can too.
You can become a profitable traders, a large percentage of others have proven it and are doing it on a quarterly bases. Believe in yourself, you can do this, many others before you have.
Collectively let's change this consciences to a positive light enabling more to succeed.
Your thoughts and opinions are welcomed friends.
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