No but he did say not to be honest with yourself. I know 90% of spreadbetters are expected to fail,its in the warning in the header,but most who play the market fails. It does not apply just to spreadbetting it applies to every form of trading there is,I was at a seminar given by cmc last wednesday. A chap by the name of Mark Foulger the sales chap said the risk between spreadbetting and CFD's is EXACTLY the same does that mean 90% of cfd players fail. Its a debate that will go on for ever,at the end of they day success or failure is down to the individual not the trading platforms.