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."
Do you believe that? I hope this caution new traders that are opportune to read it.
I believe this because it almost happened to me and I would had been among the 90% but because I had a mentor that helped me to avoid making unnecessary mistakes, I was capable of avoiding being in those brackets of traders. This is why having a mentor is so important and not just any mentor but someone that really wants to see you succeed so when you are making a mistake, they will be there to correct you and put you back on the right track. I think why many beginners lose when trading so quick is because they are not careful with how they risk their capital and are not satisfied with the small profits that they already have. They always want something higher and this makes them to become greedy and it affects their trading results.