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blindfingers

Is It True That 90% of Traders Never Make a Dime!

By blindfingers, in Beginners Forum

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handle    10

handle
Posted

If you are not consistently profitable after 5 years, then find something else to do. And make sure that you don't try to trade cold turkey...that delays progress due to the money psychology. IMO

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zupcon    10

zupcon
Posted
If you are not consistently profitable after 5 years, then find something else to do. And make sure that you don't try to trade cold turkey...that delays progress due to the money psychology. IMO

 

What does consistently profitable mean ?

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BlueHorseshoe    10

BlueHorseshoe
Posted
What does consistently profitable mean ?

 

It means that you make money consistently. Except during those periods when you don't. They don't count though, because they're consistently inconsistent, which is a form of consistency, especially if followed by a further period of consistent profitability.

 

Basically, as long as your equity curve is consistent with itself (or inconsistent with any other equity curve that is not itself), and you can't quite tell it from a straight upward sloping line drawn with a ruler . . . then you're consistently profitable.

 

You'll know it when you get there Zupcon - I find that it's normally about thirty seconds before the alarm clock sounds and my eyes blink open :)

 

BlueHorseshoe

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gavind    11

gavind
Posted

Not really 90%. There are people making really big bucks here. But they choose to stay invisible. They just want to be under the radar so that the tactic that they're doing won't be shared. vbulletin-smile.gif

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SpearPointTrader    10

SpearPointTrader
Posted

My thought is that ALL traders lose money. It's not possible to trade, without losing. However, that said, I think just as many win too. It's making sure those wins are bigger than the loses.

 

I suspect that those who stick with it do better than most people think.

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Mysticforex    13

Mysticforex
Posted
My thought is that ALL traders lose money. It's not possible to trade, without losing. However, that said, I think just as many win too. It's making sure those wins are bigger than the loses.

 

I suspect that those who stick with it do better than most people think.

 

It's about sticking to your rules. Let's say out of 10 trades, with a 1:1 R/R you average out at 5.5 winners and 4.5 losers. At the end of the year you have made money.

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SpearPointTrader    10

SpearPointTrader
Posted
It's about sticking to your rules. Let's say out of 10 trades, with a 1:1 R/R you average out at 5.5 winners and 4.5 losers. At the end of the year you have made money.

 

Agreed.

 

Of course, you have to have good rules too. That is where years of market study, and a constant study of ideas and methods is essential.

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