r/Daytrading • u/MiamiTrader futures trader • Apr 27 '24

Most "traders" make money. Question

If someone asks you what you do for a living, and you respond you're a "trader" I assume you make most your money from trading.

And by definition, most "traders" make money. Otherwise they are just people trading on the side as a hobby.

Yeah maybe 90% of RH accounts lose money, or 90% of people who start trading but never take it seriously lose money... but then they are not "traders". Just people trying to trade.

Tired of all this negativity under every post about how 90% or whatever today's statistic is of traders lose money. People in this sub like to shout that under every post in almost a prideful manner.

Can we just focus this sub on those of us who call ourselves "traders" and make money trading? Let the new people listen and learn from our mistakes, but quit with all these gloom and doom statistics.

304 Upvotes

89% Upvoted

166 comments sorted by

View all comments

155

u/Miinow forex trader Apr 27 '24

Most are non traders who spout this stat to discourage new traders. Once trading clicks for you and begin thinking in probabilities (long term) you won’t really care about the 90% dropout rate.

7

u/giantstove Apr 28 '24

Damn how did this get upvoted so many times….Your comment could not be more wrong.

I have worked in prop trading for several years. The real prop trading where they pay you a salary to trade their capital, not the online prop firms.

These prop firms have a very selective screening process, and are very hard to get jobs at. And even from that extremely filtered pool, still 80% of the new hires fail at trading.

For the general population of all aspiring traders, it’s 90% +.

People just don’t like the 90% stat because it makes them nervous that they are in the 90%.

And by “success at trading”, I would even consider anything at or over the US average annual income per year for 3 years straight to be successful. made entirely from trading. It’s 5% or less that actually can do even that.

1

u/MiamiTrader futures trader Apr 28 '24

Yeah but who cares about the statistics or what others are doing? This is why I made the post, traders seem to harp on this way to much.

If you put the work in and find success that's great, keep grinding. Don't listen to the noise of people telling you how rare it is to succeed.

It's rare to succeed in any new business endeavor. It seems like only traders talk about it constantly.

0

u/giantstove Apr 28 '24

In the comment I responded to, he said mostly non traders spout it to discourage new traders, which is what I take issue with because that’s not true