Must read Bloomberg article on % of winning ‘traders’ (Gamblers)

In my truth rant I told you, “The real stats are ~99.9% of people that day trade Forex will lose over time.”

This has now been confirmed as a real stat.
I was guesstimating off the basis of my interaction over the past ~15 years with forex “traders” cough – gamblers.

https://www.bloomberg.com/opinion/articles/2020-06-23/robinhood-traders-will-have-fun-until-they-get-wiped-out

“A large amount of empirical evidence confirms that most day traders lose money. A very large 2004 study of Taiwanese day traders, for example, found that more than 80% lost money. A tiny number — about 0.03% — earned consistently large profits, but the odds of possessing this kind of skill are slim. Most studies of day traders in the U.S. and Finland yield similar results — a few traders are consistently good, but most lose out.”

Source Bloomberg.com

So there you go.

Not only does the Brasil stock market study (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101) confirm it, now you have Bloomberg confirming what I have been telling you.

YOU ARE NOT GOING TO GET RICH TRADING RETAIL FOREX/STOCKS/CRYPTO – I am willing to wager any novice or amateur they will not get rich.

You are being sold hype and dreams.

The whole game is rigged against you – you will not make it – no one does.

*anyone claiming xyz is on twitter or Instagram are fools. They are selling you instasham lifestyles and they sell courses and earn broker affiliate commission.

The only people making money in trading are the educators, gurus, course sellers, affiliate scammers, brokers, market makers, book sellers & publishers – these people are people who could not do it. They couldn’t trade consistently profitable accounts so they have to sell something to you – it is far more profitable with less risk.