Small Trading Accounts Can Harm Your Success
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Will Small Trading Accounts Challenge Your Level Of Success?
Do most traders fail? The statistics say that 90% of traders fail but let’s take a look at who we are talking about?
How do you define “trader”? Would you consider someone who funds a small trading account with $200 and uses an untested trading strategy a “trader”?
I don’t think that person can compare to someone who is using a positive expectancy trading strategy with sound money management as well as having a grip on the psychological demons trading can evoke.
Until we can get a determination of which type of person that statistic refers to, I think it is a number we can ignore. A more relevant statistic, if we could get it, is the number of people who claim “trader” on their income tax.
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