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MB said
...I was told that the average
account 5000 to 15,000 that was opened up to daytrade the e-mini SP. Closed
due to debit or was inactive because of a lack of funds within 4 to 6 weeks
>TJ sez ****>
>**** i know for a fact that less than 1/10 of 1% of futures traders at
>my clearing firm have gains on the 1099's that are sent out last year.
>so if you want to become a day trader, the odds are stacked against
>you.
--- Ron Augustine <RonAug@xxxxxxxxxxxxx> wrote:
I don't have any stats, but imo, it's probably far less than 5% of the
people who attempt day-trading that meet with any worthwhile degree of
success
Is there any possibility of ANYONE ever finding out what the truth really
is? Not guesses or heresay or survey of traders, but some real numbers?
What are the real odds of trading success (not just daytrading)? I have
never seen such numbers but plenty of guessing or generally accepted failure
percentages. I'm talking about numbers that are objective, and therefore,
probably not from traders.
I came across some numbers from a study done by a large mutual fund that
studied the profitability of switching from one fund to another - only
within the same company because that was all of the data that was available
to them. I would have to search for it to find the exact numbers but almost
all "fund switchers" lost money in one of the greatest bull markets of all
time. To date, that is the only objective information I have ever seen. It
must have been leaked!
Getting accurate stats from the stocks, options and futures industry is like
getting the tobacco industry to admit that smoking is addictive. It can't be
very pretty. I just wonder if it is worse than we believe.
~Alan
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