They say 2% or 5% are successful. My guess is that low number is due to those who don't even try to research and test etc. Like any Profession you gotta put in your time, do your "degree", then serve your Traineeship as well after that. So, of the people who actually try, do their 5 or more Years of learning etc, I'll say like most other things it's around 20% are successful, after having done their time.
Unless you're like @LW_Millions or @SimpleMeLike who just stared at the Chart, it seems to be 10 years.
I think the numbers are pitifully low and the blow up risk is always there. It’s not just about losing money, it’s also about not making enough money to make it worth your while.
Good Evening DarkerthanDarc, I do not know the percentage of "successful" traders. I believe there is many profitable traders, they just not online in forums. However, I personally know some profitable day traders, they are not online as much. Most of them spent about +5 years learning, I think. For me it took +5 years to get consistent and get the answers. My cousin just came from home prison and he has been profitable since day 1 he started trading, but he had me to guide him and teach him everything and give him all the answers of the trading business. So he has an advantage. I met a guy a few years ago ES traders, who dad taught him everything. It is always best to get profitable quickly if you know someone who has all the answers already.
Lucky he had a Master Trader like yourself to Mentor him. Maybe a stint in Jail, where you can just focus on learning Trading is a good investment.
Hello DarkerthanDarc, He did not learn anything in jail about day trading. He never heard of day trading before until I talked to him about it. It is always good to have some reliable help help in ES trading. ET forum/website, taught me everything, I did not outside help.
Yes, I understand that. What I'm saying is that going to Jail should give someone alot of time to learn Trading - anyone.
Study alone won't do it, ya gotta use real money and keep trying, over and over. If there were someone smacking you hard around the bum everytime you fail and you wanted to please your master, you will finally learn, that's how trading works.