You hear all the time that 85-95%(depending on where you get your info) of traders fail.
I've heard many times that that number can be attributed to many people falling for the "lifestyle"/lambo videos, trying to get rich quick, not treating it like a job and then failing. So that makes sense.
I just wonder what the success/fail numbers might look like for people who didn't fall for the "get rich quick" mind set. I wonder what percent become successful who take their time, go slower, with smaller position sizes, and maintain their risk management? That success rate has to be way higher, but I wonder if anyone has ever seen any of those numbers anywhere?
Any insights or ideas on that?
I've heard many times that that number can be attributed to many people falling for the "lifestyle"/lambo videos, trying to get rich quick, not treating it like a job and then failing. So that makes sense.
I just wonder what the success/fail numbers might look like for people who didn't fall for the "get rich quick" mind set. I wonder what percent become successful who take their time, go slower, with smaller position sizes, and maintain their risk management? That success rate has to be way higher, but I wonder if anyone has ever seen any of those numbers anywhere?
Any insights or ideas on that?