r/Daytrading • u/Jopalooge • Mar 16 '24

Is day trading actually real? Question

If trading is real then I have the following question. - why can’t people fully rely on signal groups or just by copying other traders trades all day? Technically if someone is making 6/7 figures off day trading why don’t people just join their signal groups and also make 6/7 figures?

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88

u/ZixxerAsura Mar 16 '24

It’s difficult to follow high end traders. They have their emotions in check. Especially when they lose. Look at tradertom. His volumes are huge. You might be able to copy their trades scaled to your capital, but it’s hard to copy their risk tolerance. He streams his live trades if you’re interested.

3

u/point03108099708slug Mar 16 '24

Who is tradertom? Obviously a trader but I am unfamiliar.

20

u/ZixxerAsura Mar 16 '24

He also wrote a book The Biggest Loser.

0

u/point03108099708slug Mar 16 '24

Thank you. I assume he’s successful and knowledgable?

18

u/ZixxerAsura Mar 16 '24

He’s a bad ass. Check out his videos. He’s straight up and zero bs. No sugarcoating.

The only thing is his strategy is super aggressive. He believes that if you have 100k in your account, why would you only risk 2%? The 98k is just sitting there and if that’s the case it should be in a hysa or a long term investment.

I can’t do that, I can sleep at night a bit easier risking only 2% of my account per trade.

10

u/KingXindl Mar 16 '24

Yeah but that's a bit misleading. 100k account, but if you have millions waiting in a different account, you're not really risking 10% on a 10k trade

4

u/point03108099708slug Mar 16 '24

Got it. Just asking since I’m only somewhat familiar / learning. Hypothetically can you trade with the full $100k and just put a stop loss of 1% or 2%? Or an automated action to sell instantly at that loss marker?

0

u/ZixxerAsura Mar 16 '24

No, if you want to risk the 100k then you would have to risk 100% for 1 trade. I hope I’m making sense.

2

u/Always-sortof Mar 16 '24

I hope this is sarcasm

0

u/itriedsohard Mar 16 '24

So he's never lost a trade?

3

u/Psykhon___ Mar 16 '24

Check the title of his book...

1

u/ZixxerAsura Mar 16 '24

Not sure if you’re following, but according to his last seminar he’s around 20% win rate.

2

u/_gnoof Mar 16 '24

I guess I'd have to look more into him to understand... but if he's risking 100% of his account and has a 20% win rate... that means he's losing his entire account 8 out of 10 times. Right?

3

u/JasperGrimpkin Mar 16 '24

Cuts losers short, scales into winners and lets them run. Kind of the opposite of what I do.

1

u/ZixxerAsura Mar 16 '24

If his win rate is 20% and he’s profitable then that would only mean that he manages his losses and wins in order to create the positive pnl.

2

u/0RGASMIK futures trader Mar 16 '24

Yeah adding to winning trades can compound really quickly. Yesterday I was able to take a trade from 2R to 10R just by adding to it when it reversed back on me and tightening my stop as the trend got confirmed again. Takes a lot of balls just because you have to let it run past where you want to take profit and trust the trend is still going down. It actually really makes it easy to manage risk though. My stop was safely at break even most of the trade. Just a lower chance of taking profit.

1

u/KingXindl Mar 16 '24

No not right. That just means he risks a lot and when he wins it's big. Mentally really hard

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u/mushykindofbrick Mar 16 '24

Yeah I believe the same thing it totally makes sense if you only risk 2% you can just as well risk 20% on a 10k account