95% failure rate???

[peteuk]

I've just read a statistic that says 95% of traders fail at trading lose money is that right?

I realise someone has to lose but 95%!!!??!!

[4xis2ez]

I have heard of 80% to 90% lose.

[Tekunda]

I just wonder if this scenario wouldn't work out:
Find a guy who goes through his account within a week or so just do exactly the opposite of what he does.
I mean if he is loosing bigtime with almost every trade shouldn't you be making big money at the same time if you have locked in the opposite trade?
Or is there somthing wrong with this reasoning which I do not see?

[caharris]

I think there would be to many different scenarios of what he did wrong. He may be right on the direction of the trade but wrong on the entry if you did the opposite then you would be wrong on the direction. Also if he is actually right on the direction entrance of the trade you would be wrong. I've also thought of this before lol. Oh well thats just my thought on this off the top of my head.

[mig928]

1. Where do you find such a trader?
2. How can you find one of them every week.
3. How do you really know he's a loser within the 1 week time.

Might as well do the opposite of what you are thinking. At least you are always there.

[mig928]

According to the poll on the front page last's years trading this statictic is false. At least here at moneytec.

[Tekunda]

MIG 928

I found one my brother. He has never done Forex so either he is a looser or a genius in which case I would eventually follow his signals. I am really trying to see what will come out of it.
Of course I will not use real money but will try it with two demo accounts as simultaneously as possible.

[mig928]

Tekunda I don't know how you can make money out of that. Everytime your brother losses you win. You'll end up both losing because of the cost of trading.

If you establish that your brother is the worst trader in the world ask him to give you advice then do the opposite. As long as he doesn't really trade then your net will be profitable.

He must also not receive any kind of feedback whether he's losing or winning. If he did he will change his perception alter his methods. Sooner than later he will become profitable you will lose.

Then yoiu will have to look for another loser.