who on here actually makes money trading?

[Black Swan]

I wouldnt consider 120% a year uncompounded a waste of time

I see what you did there..

 

[tkbieber]

And how do you deduce that from the replies to this thread?

Agree, I was going to talk about success and answer the original question which yes, yes, and yes but apparently this thread is talking about failure so I'm off this topic.

I suspect the percentage of successful traders on this forum is about the same as world-wide which is about 5% and the 95% of unsuccessful traders on here are very frustrated, as I use to be. After trying what seems like hundreds of systems, it took me two years to finally claim success.

Anyway, the simple answer is yes.

 

[forker]

Those percentages are actually nothing more than a myth. The statistics for USA based traders ranges from 20% to 40% being successful.

 

[anthonyb]

Without saying much, I feel a number of traders could do with some self believe and a mindset change. I am not saying that you can achieve anything in life and that includes trading, without hard work, but for most to act as if, with knowledge, focus and determination you can't achieve a level of success in trading is false.

As a side matter, one of the main reasons why people fail in trading apart from mindset is using the wrong investment vehicle. My advice for anyone who cares is to get yourself financial advice from an IFA, agree what your financial goals are, and then plan to use the financial market as one of your tools to achieving your goals. In addition, you would be ill-advised relying only on day trading for achieving your financial goals, look to go longer term including using non margin accounts to hold assets.

In fact, I am sorry to say, if you are a newbie stay clear from day trading, which is what most tend to go for. Stick to medium to longer term trades, and investments. In addition, I do apologise to those who strictly use TA, however in my opinion this is completely flawed, and should be supported with fundamentals for acting on opinions. Thus learn how to combine fundamentals with simple price patterns to take a position also taking into account momentum. My only agreement with folks that follow strictly technical analysis is in the fact that trading is a number game. However not being selective enough means small looses could soon add up to big ones, and I reckon this is what stops a lot of people from succeeding when compare to the usually sited example of a large loss, which mostly affect inexperience newbie. What kills so many accounts is too much action, folks want to trade everyday and everything, which is virtually impossible and lead to ruin.

However take what I say with a pitch of salt as I have currently released a home study package which may prejudice my opinion. However, not sure why there are so many issues around, vendors, I started my journey with a home study course, and yes as I gained experience I felt the course had served its purpose and moved on to classic like “Reminiscence of a stock operator”, “Market Wizards” “Random walk on wall street” etc. But to say people can’t benefit with at least an intellectual understanding of the market to start with is foolhardy. In addition one of the myth I hear branded about, is a good trader will be better placed to be a good mentor, again not sure where this has come from, but it is debunked by other comparative field, for example the Harvard professors who taught titian like Jamie diamon of JP Morgan, would not profess to being good CEOs. What is important here is someone who can provide sound knowledge that is readily absorbed and used.

Finally no one and I mean no one can make you successful in anything in life, only you can achieve this. However what people can do is help you on your path, and only you can assess what you require at any stage of your journey. Thus to answer the original question, the rate of success of other traders, though helpful in assessing your chance in succeeding is immaterial, as your success in trading, and investing should not be excluded here, is very dependent on how willing you are to work at it.

 

[Black Swan]

Those percentages are actually nothing more than a myth. The statistics for USA based traders ranges from 20% to 40% being successful.

And in spread betting Simon at Capital reckons 20% of his traders are consistently profitable, IG somewhere in the same ball park.

One thing I noticed early on with the T2W 'zeitgeist' is that the comfort blanket of failure stalks a lot of the discussion; misery finds company..

 

[rawrschach]

yarp

the biggest witch hunters here are the same idiots that every six months make a 'i hate myself so i make intentional losses and cry in the shower' threads

 

[temporarilylight]

I wonder, after reading most of these threads, who on this forum actually makes money from trading?

arabianights, Dionysustoast, Amit1986, Chowclown, beachtrader, Wackypete, LordFlasheart, Dash.

 

[Splitlink]

yarp

the biggest witch hunters here are the same idiots that every six months make a 'i hate myself so i make intentional losses and cry in the shower' threads

There aren't many of those. I've been here a few years and have not seen any intentional suicide notes. Most of us just seem to make it look like suicide.

 

[Bint_Crusher]

Are you from the inland revenue Eric? I make pips per month @ ?lots. Traders don't think in terms of monetary p&l. Just limited losses

 

[EricReed]

and in spread betting simon at capital reckons 20% of his traders are consistently profitable, ig somewhere in the same ball park.

One thing i noticed early on with the t2w 'zeitgeist' is that the comfort blanket of failure stalks a lot of the discussion; misery finds company..

black swan,

you have summed it up in a nutshell. That is what i thought.

 

[EricReed]

Are you from the inland revenue Eric? I make pips per month @ ?lots. Traders don't think in terms of monetary p&l. Just limited losses

PIP = £££££££££££

SO IF YOU ARE NOT THINKING IN £, THEN SOMETHING IS FUNDAMENTALLY WRONG.

 

[barjon]

PIP = £££££££££££

SO IF YOU ARE NOT THINKING IN £, THEN SOMETHING IS FUNDAMENTALLY WRONG.

er, not necessarily. Thinking £ all the time can divert you from thinking about the price action and you finish up trading your account and not the trade you're actually in.

 

[tomorton]

Calm down Eric, no need to shout.
You will rarely read here of someone's £100 win or a £300 loser or a £1,000 position or a £25,000 account. This isn't just the English being reticent, the £ are a distraction. Focus on the pips, yes, but not because of the £ they represent, the pips are the point and keeping lost pips small per trade (or per year) is a virtue.

 

[neil]

PIP = £££££££££££

SO IF YOU ARE NOT THINKING IN £, THEN SOMETHING IS FUNDAMENTALLY WRONG.

Thus speaks a beginner

 

[BeginnerJoe]

Let's all calm down. As far as I can tell, only about 2 to 3 people on this forum ever made a loss. The rest all made money since they were noobs, and they never had to add more money to their accounts. So talking about £ is not necessary.

 

[TheBramble]

LOL. Yes, just like real life this site....

 

[t2w007]

Everything that was posted in the sticky seems to be true, I learned alot from the sticky: http://www.trade2win.com/boards/first-steps/89078-essentials-first-steps.html

 

[TheBramble]

Yes, everything the one they call Timsk posts is true.

That is why he is so called.

 

[t2w007]

Yes, everything the one they call Timsk posts is true.

That is why he is so called.

He even suggests that, one who reads his sticky should be questioned as well

 

[TheBramble]

He who questions training only trains himself at asking questions.