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How many of us will succeed in Forex?

Many of us have probably heard the statement that 95% of beginners lose in Forex and remaining 5% become successful.

A common trading journey in Forex starts with demo account and develops into live account with further positive or negative outcome.

We have made own simple research that was aimed to find out how long on average traders plan to demo trade Forex before going live.


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Thank you for the great article. I took the short cut to LIVE trading and got burnt!
I have now been learning and doing Demo for 6 months and I planning to go testing for the next year to 2 years. However I am worried, what if the retail forex market blows up and I don't get a chance to trade LIVE and make a living from trading in the next few years?

Do you think the retail forex market will still be around in the next 10 to 20 years?
I will greatly appreciate your answer.

Thank You
M

I took 2 years to understand how to use indicator properly, read the market movement, read the trend and trade on demo acc. now on year's 3 i know exactly when i can open position and when i must close it. the risk to lose money become very small now so, it's true we will need atleast min. 2 years to trade on demo acc.

In my opinion paper trading is nothing like the real deal, I would paper trade just to get familiar with your trading program and broker, after that go live and start trading with small amount of money.

I started trading 5 years back. I opened first live account thinking of earning big without demoing the method I used for live trading. Deposited huge amount in live account. Made few big wins. I was unable to give time to my family. One day disaster struck. I lost 10-15k in one trade. My immediate reaction was to withdraw all the amount and close the live fx account. I think I made a wise decision at that time. After 5 years of demo trading/ opening live account with very few amount and testing few methods, I think finally I know what fx is after all. Respect the market. Any one who is new to trading keeps on hopping from one method to another to find that perfect method. This is the point where new ones get frustrated. Life is precious and maintain balance in time you give for work/family/fx.

Hi, I'm from Malaysia. I started with demo first around 4-6 month. I don't know how many demos acc i'd burnt already, but the feelings is different when you're trading live acc. My first acc also blown because i had only small amount of money to invest and still doing trial and error. Then i put some more money but trade with the smallest lot per trade. I want to learn and never give up hopes.

I'm only using 1H,4H,Daily & Weekly TF.As for strategy only coupless like Fibo Ext, MACD and RSI.Still testing other tools but so far after 2 years i think this method is the most fit with my style.For me i learned the hard ways like others but i will never give up because I know what I'm doing.If you want to involve in Fx you must give 100% commitment like it's your own business.

So far I'm doing well, for me getting 4-15 dollars a day is good enough coz I'm only trade with small lot ( 0.01-0.10), depends on which trade Fx or commodity.I know someone will laugh coz its a small amount but like I said, I'm new and still consider myself a freshie and Fx is a long journey plus my acc amount is not big, <1000 USD.Losing some trade and winning some trade if a learning session. Like Edward said , dont be greedy and have money management, learn as much as you can coz learning is golden.

Thanks Edward for this marvelous site.

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