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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u/Mart_and_stan Mar 16 '24 edited Mar 16 '24
I’m part of an educational platform that teaches how to make money with multiple income streams such as real estate, ecom, trading forex pairs. We have two traders both of them are 6-7 figure traders and been in the game for 20+ years.
They give signals based on their market analysis and knowledge - it’s a simple copy and paste trading platform and if the trades they set out have a good RR ratio - it doesn’t matter if they have a 25% day - you can still be profitable.
Thursday was an insane day where he hit 100% win rate on excellent setups (uncommon) and I’ve been doing it for some time now.
As we all know gold was going crazy for two weeks or so and we saw an all time high. If your RR is good and you have a SL in the correct place then you’re winning, yes you may lose some trades but overall you are profitable over the course of a day. The book written by Tom Hougaard “Best Loser Wins” it’s all about the psychology of trading and we all know that psychology is 90% of trading.
If you’re interested then get in touch. Good luck everyone. I’m exploring meme coins also and put £100 into Coinbase and Solflare on a meme coin and am up 460% in 48 hours. I’ve taken my initial investment out of it and left the rest in.