Is it true that only 5% of the people trading FOREX make money? -

I ve heard the same statistics. However, I ve been working with a Practice Account for the last 30+ days. I ve used 8 pips = $ 8000.00 as my trading number per trade. For the last 30 days I m up $ 10,000. The important rule is to ALWAYS place a stop/ loss order, insuring your don t loose quot; the farm quot;. Use the indicators for your decision and stay out when the market does not indicate what direction it is taking. It a well known fact that it s impossible to make money in FOREX consistently over a long period of time. To do that you either need to be a broker or a market maker. It may be true also, that only 5% - 10% of quot;tradersquot; make money in any or all markets. It s a tough business. NO, I consider it to be over 10% at least, but this is still not much. You may take a look at this side with countless Youtube videos about investing and investments: http://www.forex-profit.info or at this one with all YahooAnswers about Investing in once space at http://www.autotrading-service.com for finding a solution. Good for getting your feet wet with only 1000 $ is http://www.autotradingservice.com Or check http://www.Investors-Zone.com It wouldn t surprise me if it were less than that. FOREX is a specialized field and should be left up to the experts. never accept an answer like this without documentation, sounds like an unsubstantiated scare tactic. I have not lost one pip for 7 straight trades but it was not easy getting to this point. people give up too quick and seek $$ before knowledge, it greed and ignorance, this is why they lose. fool and their money soon part. but if you stick with the forex (or anything else in life) you will succeed. if it 95% fail and 5% succeed it doesnt matter, find out who is in the good 5% and get them to be your mentor, right??? good trading mark mc donnell www.forexearlywarning.com