00:00The claim is not precisely 95%, but it's directionally accurate.
00:05No single study proves exactly 95%, yet independent research consistently lands between 70% and 97%,
00:13so the widely quoted figure is roughly right, if imprecise.
00:18Key Data Points Asterisk
00:191. NASAA, 1999, Regulatory Investigation of U.S. Day Trading Firms
00:26found 70% of public traders lose money, with almost certain total loss,
00:31and only 11.5% showed the ability to trade profitably.
00:352. Brazil, Chegg, Delasso, and Jovanetti
00:392019, Tracking Traders in Brazilian Equity Futures
00:4497% of individuals who persisted for more than 300 days lost money.
00:493. India, SEBI, 2022-23
00:53Over 70% of individual intraday equity traders lost money,
00:58even as participation surged more than 300% since 2018-19.
01:044. EU, ESMA Broker Disclosures
01:072024-2026
01:09Regulated CFD-slash-Leverage Product Brokers report 74% to 89% of retail client accounts losing money,
01:18varying by broker and product.
01:205. U.S., FINRA Attributed Figure
01:24Commonly cited as around 72% of day traders ending the year with losses,
01:29though this specific FINRA attribution circulates widely without a clean primary source,
01:34so treat it cautiously.
01:36The number shifts by context.
01:38Newer-slash-less-regulated markets, emerging derivatives, unregulated forex-slash-CFD platforms,
01:45skew toward the 90%-plus end, regulated, disclosure-mandated EU-slash-U.S.
01:51Brokerages tend to sit in the 70-89% range, and the longer a trader persists, 300-plus days,
01:59three-plus years, the higher the loss rate climbs, since most profitable traders regress to the mean
02:05within about 24 months.
02:07Attrition compounds this.
02:09Roughly 80% of day traders quit within their first two years, and only about 13% are still
02:15trading after three years.
02:17Practical takeaway asterisks don't fixate on whether it's exactly 95%.
02:22Treat any day trading venture assuming a 70-97% probability of net loss, depending on market
02:29and holding period.
02:31Size positions accordingly.
02:32Track your own P&L after fees for at least 6-12 months before scaling up, and be skeptical
02:38of any platform or guru.
02:40Claiming above-average odds without audited, third-party verified performance data.
02:45Finally, remember that everything we discussed today is for educational purposes only and
02:50does not constitute financial advice.
02:53Good luck to everyone, and see you in the next video.
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