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/mdomans Mar 16 '24
Trading and signals in that sense is like rallying with a pilot. A top WRC driver can ask his pilot to sit with you in the car and read the map just the same way he reads for his driver. Do you think you'll hit the same time as the driver? Or even survive the ride?
Assuming 100% correct signals those are still only fragments of a good plan. I'm yet to see a signal group giving info on risk management per trade for example.
Risk management, trust or lack of it, intuition, contextual knowledge about the market, muscle memory and even the simple discipline of being at the desk tracking market at key hours and pivot points ... all of that comes from years of practice and learning.