I had always been lead to believe that 95% of traders lose consistantly and lately connected social networking website currensee.... What I have discovered on his website is definitely more than 5 percent consistant winners and these accounts are all live, so I googled it and came up with some advice from a resource at currensee...
Currensee, since you know is more than a social media, actually its largely business here at currensee http://blogs.fxstreet.com/francesc/w...icon_smile.gif.
I have heard the amount of 95% traders neglecting a few times before and I must tell you I think it's worth looking into as the reduction of the spreads and experience traders have today changes these numbers.
Within Our traders community for example (and we just have traders with actual accounts) we find that more than 30 percent of these were consistently profitable in 2009.
I'd be be happy to discuss with you if you're interested.
Thanks,
-- Asaf.
If you examine closely the debates for the CFTC for restricting Forex in the US is because they take a blunt strategy that all retail forex traders are unsophistied and they all lose money - that I strongly think it's time to edue the CFTC just a bit and have them admit that Forex is a valid asset class where a few make money and a few shed but it's not that different than Stock, choices or Futures.
Here is some of the advice for the month of January 2010 split by the broker title for those brokers we have the maximum traders on.
MBTrading - 47% of traders made money
IBFX - 46% of traders made money
FXDD - 45% of traders made money
Forex.com 43 percent of traders made money
FXCM - 38 percent of traders made money
The most profitable pair for the month of January was EUR/USD with 51% of those traders that traded that pair made cash.
I'd be happy to give you more detailed information via email (asaf in currensee dot com)
-- Asaf.
Very interesting indeed.... What's 95% losers a fantasy or does currensee have greater traders?
Regards,
.