A shocking statistic has hit the retail industry:
90% of Retail Traders lose 90% of their money in the first 90 days of trading.
Just read that, read it again and let it sink in.
I’m a man of stats, but that statistic is forever in the favour of the platform providers. If you’re a new retail trader, or someone looking to get started and you saw that statistic, you have to be in the top 10% of retail traders to make any money at all – why on Earth would you start?
Simple answer, you more than likely saw an advert or someone saying how much money can be made trading.
This is true, how do you think the rich get richer? Work on their salaries of £100k+++? No, they invest in the markets, properties, other assets to make their hard earned money work even harder. To get wealthy you need the money you earned to be making more money for you whilst you’re sleeping / out earning more money.
Get the concept, for every £1 you earn – you want that £1 to make you £2, £3, £4 etc.
Unfortunately, a lot of adverts out there show how easy trading online can be and how it can be done at home earning you millions over night. They’re all wrong! The only way in life you can literally be a millionaire over night is by inheriting it, every other method is through solid hard work.
As you should be skeptical about all kinds of offers and adverts about trading, can a program / robot / algorithm really make you money on autopilot?? No.
Think High Frequency Traders just develop their algorithms and sit back and watch money pile in on autopilot?! Don’t make me laugh. They are ALWAYS coding and adapting their algorithms to compensate for the markets volatility and behaviour. These HFT programmers / Traders are paid literally hundreds of thousands to ensure the algo works correctly. But it’s okay because FOREAUTOWIN ROBOT MASTER who guarantees your 99.99% win rate and millions of pounds, that you download and install on your computer for only £100 is going to be just as good. (This is not a name of a robot at all, nor am I endorsing any robot with a similar name – this is just a dramatic example of how stupid they are)
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