95% failure rate???

[peteuk]

I've just read a statistic that says 95% of traders fail at trading and 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 and 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 and 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 from 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 and alter his methods. Sooner than later he will become profitable and you will lose.

Then yoiu will have to look for another loser.