It is obvious that traders are not the same, there are traders who make $1000,00’s each and every day while others lose $1000,00’s each day. The popular statistic states that over 90% of the trading community lose money implying that less than 10% make money. Is that even true? in 2015 FXCM released a report of their profitable clients based on the equity range below:
Equity Range % Profitable
Notice here that traders with capital less than $1000 are generally losing money, losing traders make up 72.11% for the whole community in this equity range. Traders who have huge accounts are more likely to make money, but in all of these equity range’s the majority is losing. Why do clever marketers give us an impression that we will get rich quick? what are we missing? Do these few profitable traders hide information from us?
The DAILYFX research team has studied why most traders lose money on a 40 million real trades sample. They found out that traders closed at a profit more than 50% of the time and still lost money. If these traders were right 50% of the time, why did they lose money?
To uncover the correct answer take a look at “Forex trading secrets” written by James Dicks. He has a full scope on how the market works starting from the basics, money management, trading psychology, fundamental analysis, technical analysis up to building your own portfolio.
The statistic provided by FXCM proves that there are thousands of profitable traders out there, at the same time providing confidence of assurance that indeed it is possible to make money trading.
Have you got any question on the subject? Do you need a book that we haven’t yet shared? Do you need a broker? Please leave us a comment and let us help.
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