Interesting point GCB and Pivotprofiler,
I think its similar to the players in a casino. How many players go home with profits? Majority of the people seek entertainment while the very few professionals are only there for one reason: to make money. Same with a game of poker. There are players who enjoy playing and players who find poker tremendously boring but play because they can make money. The 95% stats count in every single player regardless of their motives for participation. It would be particularily interesting to see additional stats for traders who actually went through some trading. Perhaps we can take a look at the records of traders in prop firms. I remember reading in a book once that out of 20 prop traders only 2-3 were the only ones profitable. Of course this is just from one sample.
They say trading is a risky career and many people view starting a small business as less riskier. WRONG! My folks also own a company which is approx 30 years old now and they have also told me that those that make it pass the second year are the minority.. roughly 10%.
If you dont know who you are... the markets is definitely an expensive place to find out. I have learned alot about myself ever since I started trading. Unfortunately traders who go bust and never return fail to look within themselves.
I do think traders have a higher probability of success compared to musicians, artists, or actors though. That 95% is just a number to scare ppl off. I knew about the 95% failure rate before I started trading.. but I was actually attracted to it instead. Gotta love the challenge in this game.
