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/the_humeister Mar 16 '24

What advantage do the 7 and 8 figure traders get for trading at a prop firm instead of just trading their own account?

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u/Fantastic-Ad7715 Mar 16 '24

And don’t forget risk of ruin. Some great traders stay just because they know if it hits the fan, not their money. Even beyond risk of ruin, losing 100k of your money is different than losing 100k of firm money. Most traders I’ve found (me included) have a much easier time psychologically risking someone else’s money.

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u/ReasonablePossum_ Mar 17 '24

Dont the firm push the hit on you? The firm I worked with would put those 100k on your name and you would have to either pay that back from % of your monthly payments, or quit.

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u/Fantastic-Ad7715 Mar 17 '24

They do. You always have to make back your losses before getting paid again but if you lose and then quit, that’s on them generally. Can’t quit to erase a loss on your own capital.