Ratio of successful forex traders

Is it true that the ratio of successful forex traders is nothing compared to those who go bankrupt?

You may have heard the statistics thrown by many pessimists who say that the ratio of successful Forex traders to those who are not successful is small. There are at least several reasons to be skeptical of such claims.

First, data is difficult to obtain on the subject of foreign exchange players who lose because of the decentralized and over-the-counter nature of the Forex market. But there are many educational materials and Forex trading strategies available to better complement your trading performance.

Second, we expect the distribution of successful forex traders and those who fail to follow the mindsets and statistics of successful people, who reveal that there will be:

very little big loser
a large number of little losers
a large number of small winners, and
very few big winners
Available data from Forex and CFD companies (although only a small part of the broad global Forex market) shows that the rarest people are very successful traders. Most people stop once they start losing a lot of capital or exceed certain limits, while the big winners continue to trade and finally reach success.

The number of small losers slightly exceeds the number of small winners, mainly due to the influence of market spread. So the percentage of successful Forex traders is not much smaller than the unsuccessful ones. But there is little doubt that the most successful traders are only a handful of elites.

Psychological factors are the biggest in the success of trading, it deserves many traders who fail because of the difficulty of controlling their psychologists.