Lost money
Of Brazilian equity-futures entrants who kept day trading for at least 300 trading days, in the 2013–2015 cohort studied.
Chague et al. / 2019 study ↗Hedgeless Trading · Coming soon
AVERAGE
SUCKS.
Wall Street swagger.
Trading discipline.
Free trading communities. A free prop challenge crash course in execution and payout discipline. TradeLocker analytics and merch with absolutely no filter.
Managed Risk. Unmanaged Mouth.
FREE COMMUNITIES. REAL CONVERSATIONS.Meet your people
01 / The reality of trading
The 1% mindset.
The work comes first.
A plan before the entry. Limits before the loss. Honest review after the trade. That is the standard we are building at Hedgeless Trading.
Showed repeatable skill
Of day traders in Taiwan, 1992–2006, demonstrated predictably positive abnormal returns after fees. This is performance above the study’s benchmark.
Barber et al. / 2014 paper ↗Received a prop payout
Of sampled traders, as reported by FPFX Tech in 2024. About 14% reached funding; the dataset covered 100,000 traders across ten firms.
FPFX interview / September 2024 ↗Different samples. Different measures. The <1% finding does not mean 99% lost money. A challenge pass, one payout and dependable income are separate achievements. These figures are not Hedgeless Trading member results or a prediction of your outcome.
European regulator evidence Large samples. Real outcomes. ↗
| Regulator / scope | Reported outcome | Sample / period |
|---|---|---|
| European Union / ESMA | 74–89% losing accounts | National CFD studies summarized March 2018; range, not a pooled rate. ↗ |
| United Kingdom / FCA | 82% losing; 18% profitable | Client-account sample at eight CFD firms; published December 2016. ↗ |
| France / AMF | 89.4% losing clients | 14,799 active CFD/forex clients, four-year study published October 2014. ↗ |
| Cyprus-regulated providers / CySEC | 76% losing; around 24% profitable | Approximately 290,000 retail accounts, 18 CFD providers; January–August 2017. ↗ |
| Polish-regulated brokers / UKNF | 72.2% losing; 27.8% profitable | 2025 realized results; Polish and foreign clients. Break-even clients excluded. ↗ |
| Polish residents / UKNF | 71.8% losing; 28.2% profitable | 2025 resident subset of the preceding row; not a separate sample to add. ↗ |
These regulator findings add European evidence to the Brazil and Taiwan studies above. CFD/forex client results, account results, day-trading skill and prop payouts measure different things. The historical samples overlap with ESMA’s summary and must not be combined into a global failure rate. Cyprus supervision does not identify every client’s residence. France may count clients at more than one intermediary. UKNF covers OTC derivatives beyond currencies; its percentages exclude break-even clients. Profit in one observed period does not prove repeatable income or predict Hedgeless or Apollo outcomes. The AMF link is a mirror of the regulator’s original report.
Read the European evidence and source notes on pages 25–26 of the free crash course ↗
Real forex & overseas broker accounts See the disclosures ↗
| Provider / market | Account outcome | Period / source |
|---|---|---|
| FOREX.com / U.S. retail forex | 67.44% unprofitable | Q2 2026 / 34,791 active accounts ↗ |
| OANDA / U.S. retail forex | 65.96% not profitable | Q2 2026 / 39,992 accounts ↗ |
| Pepperstone Markets Limited / Bahamas | 80% lose money trading CFDs | Published CFD risk disclosure ↗ |
| Pepperstone / U.K. | 73.6% lose money trading spread bets & CFDs | Published risk disclosure ↗ |
| IG Europe / Ireland-facing site | 74% lose money trading spread bets & CFDs | Published risk disclosure ↗ |
These are account measures for the named providers and entities, not unique-trader counts or an industry-wide average. The CFD warnings cover multiple instruments, including forex; they are not forex-only loss rates. A profitable quarter does not establish repeatable skill. Broker percentages can change; the linked pages supply the current disclosure.
Bring the ambition. Build the discipline.
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Trading accounts / ATH Market
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For experienced traders seeking a live account funded with their own money: compare ATH Standard, Pro and Bonus accounts. ATH Standard publishes leverage up to 500:1; eligible TradeLocker Bonus accounts offer a 10% deposit match as non-withdrawable trading credit. More available leverage also means more potential loss.
Explore Live Brokerage Prefer purchased trading capacity? Explore Apollo 10x ↗Open the Trader Desk ↗
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02 / The communities
The market is serious.
We have a sense of humor.
Two free communities. Different ways to connect. Join either waiting list and the crash course is yours.
01 / Free Slack communityComing soon
YOLO Yacht Club
Trading discussion, shared lessons, trader humor and accountability. Bring your curiosity. Leave the performance theater at the dock.
Join the Slack WaitlistFree ebook included with signup.
02 / Free Zoom communityComing soon
Day Trading Megalomaniacs
Free live trading sessions for watching the process, discussing decisions and learning from the trades that worked—and the ones that did not.
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Waiting-list signup reserves launch notifications. Community access is coming soon.
03 / Your free crash course
Passing Funded Prop Challenges & Building Discipline for Payouts.
The challenge is only the beginning. Explore the shift from aggressive execution to tighter decisions, honest review and payout discipline.
- Trading psychology & recognizing euphoria
- Fillable trading plan & daily journal
Included when you join either community waiting list.
04 / The first drop · Coming soon
My Stop Loss Cuts My Losses.
You Keep Dating Yours.
For the trader whose boundaries are better on the chart. Our first drop has its priorities straight.
Notify Me About This Drop Explore all upcoming designs
Design preview / Mockup 05 / Behind the attitude
A winning streak can
hide bad habits.
Years of trading. Bad years. Many blown accounts. Hedgeless Trading starts with the willingness to look at your decisions honestly—and change them.
Read the brand storyAre the communities really free?
Yes. YOLO Yacht Club is a free Slack community. Day Trading Megalomaniacs offers free live trading sessions on Zoom. A purchase is not required.
What happens when I join the waiting list?
We save your community preferences and provide the free crash course after signup. Your place is on the launch notification list; the communities are coming soon.
Can I join both waiting lists?
Yes. Choose YOLO Yacht Club, Day Trading Megalomaniacs, or both. Joining either includes the same free crash course.
A little swagger. A lot to learn.
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