The rule of 90 or 90% rule is a gloomy statistics that was suppose to serve as a reminder or caution newbies traders. The rule states that "90% of traders lose 90% of their funds in their first 90 days of trading."
That seems unbelievable. 90 days and we are still a complete noob to lose that huge? But I think before we start, a serious and cautious newbie trader will first equip their selves with good knowledge and do other solid preparations. And that won't take long for them to train and be good at trading. Also 90 percent of them to experience what you said there seems too much anymore. Instead of reminder or a caution, it sounded like a scare for them to discourage trading. Maybe it is good for some, if we know that trading is bad for us but there might still be some who are actually built for it. I think they will also feel it and insist to continue no matter what.