Quote:
Originally Posted by KP FX Trader
Excellent, thanks. I really appreciate you and your site. I have a question that I don't think the broker I am dealing with will answer.
I asked what the average profit for the 5% of successful traders was. The answer was in so many words, its unknown.
Ill take the question one step further, what is the average account balance and how many clients?
In addition, if a broker boasts they are a , say....70 million company. What does that mean? They are broker for 70 mil. in currency a year?
You see where I am going. I am working on my long term money mgmt strategy, as I intend to be a full time professional independent trade by year end, and this will help in evaluating how realistic my goals.
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Hey KP,
Glad to hear from you.
I wouldn't know the average profit of the top 5% of traders either however I have done a video on setting realistic profit expectations which may help shed some light on the question:
Profit Expectations: What Millionaire Traders Know
As for what it means if a company says they are a $70 Million company I would have to see the context under which this was said because as you have pointed out this could mean many things.
Best Regards,
Dave