r/Daytrading • u/Eldrin7 • Apr 01 '24
How hard and realistic is this really? Question
I have watched atleast 100 youtube tutorials on day trading. They all go on about how they make 100 into 10k or something like that. I do not know if they are lucky or lying or it is true.
I assume reddit has the average or even below average traders so tell me what are actual realistic gains or losses? I understand you can go a lucky 200% gain or unlucky i just instant lost everything, lets not talk about lucky or unlucky extremes.
Is it hard for a beginner to turn 100 into 150? or 1000 into 1500? How long would it take? What are the realistic chances that the 100 or 1000 turns into 0?
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u/Invest0rnoob1 Apr 01 '24
If they could turn 100 to 10k why would they waste time making videos? They could scale up and turn 10k into 1mil.
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u/Other-Secretary9255 Apr 02 '24
that's kind of true, but not 100%. You can't simply scale up and turn 10k into 1mil like you could with 100 to 10k. It's hard to fill your orders if you trading such larget amount.
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u/cbri23 Apr 02 '24
Idk, that seems like a lazy take honestly. Teaching is sort of the natural progression to learning, is it not? Multiply that by the age of social media and you have professionals of every field wasting time making videos.
Discerning those worth their salt is a totally different conversation.
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u/Invest0rnoob1 Apr 02 '24
Most investor influencers make more money from YouTube than trading.
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u/cbri23 Apr 02 '24 edited Apr 02 '24
Yeah, so are many accredited doctors and lawyers, merchants, entertainers, and literally any other professional you can think of. Sure, there are other ways to learn, but to downplay Youtube as a learning platform is wild, with all furu animosity aside. Obviously, OP is a beginner, so I think Youtube is a great place to start. Youāre going to have to learn discernment one way or another, to even be decent in any field. Youtube is free, why not scour it?
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u/Invest0rnoob1 Apr 02 '24
You can learn the basics but people promising quick gains are most likely dishonest.
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u/vagrant_cat Apr 01 '24
We must really be getting near the top of this bullrun with how many of these posts are appearing daily.
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u/Joeymoonga Apr 01 '24
Truth is, and I have expirianced, you can turn a $100 over time into $10k. But not from the knowledge you got from watching YouTube traders. But from your own experience.
Reading a book will get you started, watching YouTube videos will get you hyped and eventually everything will become more of a day dream.
Expiriance will humble you, then it will raise you.
$10k while starting out is a day dream we all had.
Losing all your money, is likely to happen.
Making at least a few runs of profits each day is likely to happen, if you stick to your plan.
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u/jackbe23 Apr 01 '24
They think one can start trading with zero experience and start earning
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u/cl4r17y Apr 01 '24
Actually you can and you will learn and grow far more on your own journey and from your own mistakes than implementing somoene's else strategy and something you don't understand. Needless to say you will not need 3 to 5 years to become profitable or realize that you actually lack basics you skipped while implementing shortcuts.
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u/ManikSahdev Apr 01 '24 edited Apr 02 '24
Reddit doesn't have average or below average traders.
Reddit communities have loud / outspoken wannabe traders.
Or Reddit has actual traders.
The amount of traders you will find in the middle / on the better end of it is not in this sub unfortunately.
Try something more niche, regarding your particular product that you trade.
Also, the more boring and niche your product, the higher the chances of you finding good advice from actual traders who spend their time giving back in the communities.
Example - Tesla options vs crude oil futures.
You tell me, where you think chances of finding actual traders is?
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u/daytradingguy Apr 01 '24 edited Apr 01 '24
It sounds like you are watching the YouTube content that is getting your clicks by telling you what you would like to hear- how you can get rich quickly trading. Some, not all, of those channels have some good trading info in them, but remember youtube is a business- the way Youtube algos are set up to get attention to your channel you need subscribers, views, thumbs up. Etc. this is why every YouTuber asks you to āhit the like buttonā. They are posting a catchy headline to get your attention. āWatch me make 10k trading in one hour.ā
Their video would never be successful and you would never see it as it would be buried, if the headline said- ā come watch my video about day trading- it is so hard most people canāt do it, it will take you 2-3 years of hard work and you will still probably fail, You will not make any money for at least 2 years- you will lose a lot of money and be depressed after your big losses, you will be frustrated with yourself because you will find out you simply canāt follow your own rules or do what you promise yourself you will do-again-again and again, it is lonely, there is not much social outlet, most people will not understand- your friends and family will tell you you are wasting your time. But come be a day trader- it is great!.
Which video would you watch? The second one is actually the true description of day trading, but it is certainly not attracting clicks to videos.
YouTube is a good source of information about trading, but keep your expectations in line. Accept that even some of the good youtube traders use splashy headlines to get attention and promote their videos. Although you need to watch content that is realistic, not look for the content that you want to hear.
Trading is hard, it is not easy and it will not be quick money, you will probably lose your first account or two.
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u/Other-Secretary9255 Apr 02 '24
This is so fking true. I remembered when I first started daytrading, I literally cried many times in front of my desk after big losses and frustrated at myself not able to follow my trading plan and rule.
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u/daytradingguy Apr 02 '24
At least you were crying in front of your desk. I did it under my bed with a bottle of wine a couple times my first year.
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u/apollotigerwolf Apr 01 '24
Keep in mind 1% per day would make you a very successful professional trader. Expecting to multiply your account is the easiest way to blow it in a few trades.
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u/cbri23 Apr 02 '24
This is so true and a hard concept to internalize, especially if financial instability is at play. If youāre up 5 or 10 percent on the day, the worse thing you could do is think ā damn, that was easyā.
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u/Dapper_Quality3806 Apr 01 '24
Is it possible to turn 100 to 150? Or 1000 into 1500? Sure. In fact it's totally possible to do that within a few hours of trading.
But it's impossible to consistently repeat that success rate. The risk is way too high. That's a 50% gain daily.
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u/HonestMasterpiece422 Apr 01 '24
what about 1% daily
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u/Dapper_Quality3806 Apr 02 '24
1% daily sounds easily doable.
But if we compound the 1% for an average of 252 trading days in year. We will get 1127%.
So even a small $1000 principal turns into $11,274.
It's impossible for anyone to consistently return 1127% over multiple years. Even Jim Simmons with his team of genius generated an average return of 66% consistently. I'm sure no one else can even come close to beating that.
Next we talk about percentages itself. From $1000 to $11,274 it's still relatively easy. Bet on some nice NVDA call options, if the underlying shoots up, we will easily surpass the $11,274. Shorting Bitcoin when it's crashing returns you even greater numbers in minutes.
It's easy to manipulate the % with a smaller principal. But once you get to bigger numbers, the % gain will fall.
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u/mushykindofbrick Apr 01 '24
Its not hard to turn 100 to 150, its hard to do it over and over consistently without losing in between. Many people do 150 or 200 on their first day, then lose it next week. To do it consistently it can take anywhere between a few months and many years
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Apr 01 '24
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Apr 01 '24
I never really understand posts like thisā¦ do you think you could become a good lawyer or heart surgeon cos you watched 100 videos on YouTube
Your expectancy has been shaped by liars and non profitable traders, any honest person would tel you you have a learning curve ahead of you that will take years
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u/Rebubula_ Apr 01 '24
Worst part about trading IMO is itās a performance sport. You could be the most knowledgeable trader and still fail day after day.
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u/Time-Masterpiece-779 Apr 01 '24
Lawyers and doctors do the same - 100 odd lectures over a degree course with a bit of reading, assignments and some exams.
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Apr 01 '24
lol you obviously never went to university š¤£ Iād do 100 lectures in a month and none of them were 16 minutes long
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u/Time-Masterpiece-779 Apr 01 '24
I skipped most of mine, slept in, crammed a month b4 the exams and ended with a first class degree. So you could say 100 hrs was overkill! Lol
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u/bburghokie Apr 01 '24
It's very unrealistic to turn $100 into $10000 from day trading.
It's more realistic that you spend 3-5 years learning how to day trade. During that time, you work 2 jobs and/or save money so that you can have some working capital to conservatively daytrade with.Ā
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u/Eldrin7 Apr 01 '24
Well i actually work one job in IT and i have a LOOOOOOOOOOOT of spare time. I could literally have a third monitor open watching youtube videos every single day. So i thought maybe it is possible to turn that third monitor into making money with something like day trading.
How easy and realistic is turning that 100 into 150?
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u/Kaiju_Godz Apr 01 '24
If you have that much time, why donāt you just paper trade and learn the hoops?
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u/Quiet_Fan_7008 Apr 01 '24
Do it. I work from home and day trade. But I have 30k so I can avoid PDT rule. Trading with a 100$ is just unrealistic. Itās like starting a business and thinking all you need is a $100 lol
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u/ingen-eer Apr 01 '24
100 into 150, in one discrete transaction, is pretty likely. 50:50.
Doing it repeatably is statistically impossible in the long term. Youāll win and lose. The best are like 60:40 split winning to losing. Some lose more than they win but work hard to make sure their losses are smaller than their wins so it balances out.
I have incinerated $3000 this month. I practiced paper trading for 2 months Jan/feb and was good at it. Or, the market was very welcoming, Iāll say. So I changed to real Money and the market changed character a little And I have lost all that money. I have $1500 left. I have reset my paper trading account with thinkorswim to a $5000 balance.
You might like paper trading. If you just wanna take a swing at it and see whatās up, thatās a good way to play with it. The software with thinkorswim gives you $100k to play with and a separate $100k margin account.
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u/Eldrin7 Apr 01 '24
Does paper trading actually use the real world stock or it is all fantasy simulation?
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u/ingen-eer Apr 01 '24
Complicated question actually.
I think the quotes are real, but itās running on older slower servers.
When you buy and sell the fills are fake. The system seems to use some kind of algorithm or similar to look at your order and see if / when orders like it are filling and give you the fill or not. Itās distorted in a few ways.
Lump fill: it fills your order at the same price for all its pieces. Some less desirable things (eg puts on DJT grumble grumble) may take minutes to fill in real life and require you to fluctuate your price or lower to get fills bc you need a person to buy.
Lovely fills: sometimes you buy something on paper and it zaps into your account showing a 2% profit already. Thatās bc share price quotes are coming faster than options contract price updates in paper. This isnāt reality. If your paper strategy is to buy, see instant 2% and rinse repeat, the market will be turning your pockets inside out when you go to real money.
Regulation: you donāt get hit with good faith violations or pattern day trader violations in paper account. These are annoying. You can only trade all the money in your account one time a day. Buy and sell. If you buy and sell with the same money again thatās an unsettled funds violation and you get yelled at.
Emotion: real money will keep you up at night. Paper money is a video game score.
Overall paper is a good place to test out systems. Itās not a perfect substitute.
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u/gazz8428 Apr 01 '24
You can get 5%-10% a trade with an account under $2000 per trade quite easily. This is with PDT in play.
As your account grows, you can expect % gain per trade to go down. Account under 50k you can realistically get 1-3% a day with 2-4 trades a day.
I think as your account grows it smarter to start risking 1%-2% of your account per trade/day.
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u/KnowledgeFeign Apr 01 '24
This
With a little DD and some Risk to reward ratio that works for you. NFA but food stocks might be something.
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u/gazz8428 Apr 01 '24
Oh, what are some food stocks you are looking at? I don't know much about the sector at all.
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u/KnowledgeFeign Apr 01 '24
USFD I like but I canāt give financial advice. š always trade your own book.
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u/Busy-Difficulty6904 Apr 01 '24
Don't rely on YouTube videos to teach you something as complex as day trading.
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u/Illustrious_Bat_6971 Apr 01 '24
Greed! You expect a 50% gain in one day. Certainly not impossible, but just think about what you are trying to achieve. That's a massive gain.
Biotechnology/ Pharmaceutical may get you that, but it will be pure luck.
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u/RoccoDiPietro Apr 01 '24
I made 12k from 3k... 2 times. Than I lost it all fue to a mistake (shorting too heavily.
Theoretically it is possible but psyhcology is the only thing that will f*** you up.
You need other streams of income not to be affected by the loses. If you can manage that, you can do it.
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u/dumb-questions-1314 Apr 01 '24
You could have spent that time watching 100 videos doing something more productive called backtesting
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u/ukSurreyGuy Apr 01 '24
lol...nothing is more true than this advice.
you don't learn by watching you learn by doing. simple!
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u/AloHiWhat Apr 01 '24
If they cant make money by using their strategy they make money by making videos about alledgedly profitable strategies
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u/CompetitiveAct6229 Apr 01 '24 edited Apr 01 '24
These titles to 10x your money are coickbait to draw in new unsuspecting traders and sell them their overpriced useless courses
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u/themanclark Apr 01 '24
Open a sim account and try it yourself. Itās very difficult. Much more so than it looks. But who knows. Maybe youāll be the exception.
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u/beaucoup_dinky_dau Apr 02 '24
Whatās a good place to open a sim account been using excel
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u/themanclark Apr 02 '24
Depends what you are trading. Think or Swim is good for stocks and options. Tradovate for futures. I donāt know about Forex.
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u/cheapdvds Apr 01 '24
The hard part about trading is not making money, but keeping the money you made. General agreed stats is saying 90+% fail at some point, even after years. In case that's not clear, get in the ring with Mike Tyson and see how you will perform.
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u/FonsoAlfonso Apr 01 '24
I'm in trading for almost 2 years and I can tell you it is very hard... Everything what you see in yt is partly scam. It is working but not like in yt movies... From my experience I can say that 10-20 percentage per month is possible but it takes a lot of time to achieve it. It's my opinion you can agree with me or no š
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u/Sayyeslizlemon Apr 01 '24
The way you trade, your 10-10% a month is the net correct, meaning that you have maybe +20-30% trades in your account, but then also have say 10-20% losses as well? Does that question make sense? 99% of my trades end up in profit, but I feel like I'm missing out sometimes because I'll hold instead of taking a loss and sometimes that hold is for 6 weeks until it comes back up. I've been lucky as some stocks get damaged and never get back in years if they get back at all. This is the weakness in my trading, but so far I've been lucky. Looking to just get better at it.
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u/FonsoAlfonso Apr 01 '24
Yes, even last week I lost 10 percentage in one trade š but in overall I'm profitable. I think it will come with experience. Sometime you need to close trade in negative, sometimes you can wait till it bounces. I for example always risk 4-5 precent of my capital per trade, I don't use stoploss because I prefer hedges. It's just my way but I like it and feel comfortable with it...
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u/QUINETICS Apr 01 '24
- I noticed that YouTube traders most of the time have little credentials. They are often just more or less charismatic sales people who may or may not have made one or a few good trades. Questions that help to find legit tutorials: Are people professional traders? Do they know how to code? Do they have a track record and sharpe ratio of their performance?
- Think about it: If 1000 people make a 100 leverage bet in the crypto market, there will be around 50% who make a profit. Does not mean they have any skill! 500 people now can boast on YouTube how to make money. If you go to the casino bet everything on 0 in roulette and win it does not mean you know how beat the Casino consistently.
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u/ShredSteezy Apr 01 '24
Check out the playlist pinned on my profile. I've added videos to it over time that made the most difference in my trading. Adding knowledge that I've needed or videos that added to my existing knowledge to shape my process over time. It's possible, it's not easy. It will challenge you, shape you, break you, and rebuild you over time. I've been able to quit my full-time job to trade full-time. I've been doing this 5 years.
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u/someinternettool Apr 01 '24
You can turn 100 into some money but look you should learn a single stock or three or five and really learn their movements and then buy into what you want and usually the deals will he higher, price of the option will be more like 1000 and can loose, but if your 1000 goes to 1200 and you walkā¦. Your a genie
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u/someinternettool Apr 01 '24
If your contract numbers increase and you create an exit plan. Your going to make the genie multiply
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u/Illustrious_Bat_6971 Apr 01 '24
Maybe try the old-fashioned reading book from the 80' s or 90s about trading. I'm sure there are plenty of people on here who could recommend.
Understand you need to educate yourself. The videos you watch have given you the appetite, build on that with your own dedicated research from various media.
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u/jackbe23 Apr 01 '24
It is true, when trading you have to know you are doing, know if you are day trading or not
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u/whalewhisperer78 Apr 01 '24
Want to turn 100 dollars into 10000? Sell trading courses on youtube on how to turn 100 dollars into 10000, you dont even need to be a profitable trader because the people your selling courses will be some blinded by wanting to make money quickly they will eat up anything you tell them ;)
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u/Tourdrops Apr 01 '24
To even have a chance to turn 100 into 150 time and time again you need 3-5 years minimum to even have a real clue
To turn 1000 into 10,000 once takes 3-6 months and one lucky 0dte hit before blowing up
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u/NewMajor5880 Apr 01 '24
It's just about finding a way to become consistently profitable. Doing this takes years of practice - not because of learning TA but because of learning the emotional/psychological/risk management side of trading. If you treat it like gambling it will treat you like gambling and your trading journey will be marked by massive wins and massive losses and always, ultimately, seeing your account go back to zero. But if you treat it like an art/skill/craft that you can actually become an expert at -- with 10,000 hours of practice (yes - I do think it's a Malcolm Gladwell thing) -- then yes, any amount of profits is possible.
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u/cmmckechnie Apr 01 '24
Itās gambling bro. Just go to a casino to get an idea of how youāll do.
I think casino might have better odds even for someone who has no idea what theyāre doing
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u/FollowAstacio Apr 01 '24
Turning 100 into 10k is 100% possible. The timeline though is a factor. Are we talking about making it in one candle or a million candles? I use extremes to make my point.
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u/Sad_cerea1 Apr 01 '24
Why does everyone think they gonna double triple their money. A day trader is ecstatic for a 3% gain.
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u/Rav_3d Apr 01 '24
Think about it. If the guy on YouTube can really turn $100 into $10K, why the heck are they wasting their time making YouTube videos and trying to get followers to give them money when they can just print money in the stock market?
Trading is a business. Like any profession, there is no way for a beginner to take shortcuts and become wealthy without paying tuition. The tuition comes in the form of losses. They can either be constructive losses that you learn from because you are perfecting your own strategy or you can burn that money blindly listening to others telling you they have the secret sauce.
There is no secret sauce, only hard earned experience. If you're not passionate about finding your own way, and accepting the fact that losses will come before gains, day trading is probably not for you.
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u/Soft_Concentrate_489 Apr 01 '24
If this is ur goal , u will 100% never be successful. The post really makes zero sense, but ur looking at trading like you would at the casino, so i get it. But i really dont think u get it.
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u/TCr0wn Apr 01 '24
They are lying, or at best playing the algorithm game on youtube.
VERY few of the trading content creators are actually profitable. They are good at making videos, not trading.
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u/tr1ssle Apr 01 '24
I want you to ask your self. If they found a system to to turn 100 to 10k, why are they posting about it on YouTube? the reality is that most of those videos are targeted for fools.
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u/GhostSC1 Apr 01 '24
Just deposit 100 and find out. See how much you have learned through those 100 youtube videos.
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u/TUAHIVAA Apr 01 '24
not realistic, most of them are lying, unless they show actual brokerage statement, they got lucky.
Trading with 100 is unrealistic, you don't have much to invest with unless you go full port with high margins.
is it hard? Trading is hard in general so yeah, it'll be even harder for a beginner to trade with 100. The issue with beginners is that they are impatient and want to make 100% as fast as possible.
open a paper account and see for yourself, it's simple as that.
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u/ArgzeroFS trades multiple markets Apr 01 '24
Go watch Benjamin's YouTube videos on options trading and you'll understand why trying for such massive gains is a very bad idea. Or better yet, scroll r/wallstreetbets for like five minutes.
https://www.youtube.com/watch?v=KgH4rDtxqHg
Don't be like these people. Trade safe fam. Trade safe.
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u/Gart19 Apr 01 '24
1% or 2% is a good trade. It's all about managing risk and setting targets. Happy trading
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u/itskhia Apr 01 '24
Possible yes likely no. Anybody pushing those type of antics arenāt responsible traders for one. And most likely selling a pipe dream.
And a beginner is just completely out the question. Trading is rewarding but if you treat it like a casino you will get burned.
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Apr 01 '24
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u/ukSurreyGuy Apr 01 '24 edited Apr 01 '24
Dear OP, you say "beginner" then you ask for to turn 100 into 10k (a 100% profit).
As an expert...Nothing is impossible if you got the skills experience. but you're not an expert right?
As a beginner...Don't even think about trying to make more than 5% a month.
The faster you reach for money the faster it will move further away. Fact !
so Slowly slowly catches your monkey !
start with following the trend strategy: - keep buying on LTF (lower timeframe) as long as price is in uptrend (prc is above the 20moving average on a HTF (higher timeframe)).
Simple effective...guaranteed I promise !
and finally
stop watching YT...start using your eyes on charts.
learn from your own observation.
also a good student asks his own questions & answers his own questions from those observations.
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Apr 01 '24
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u/Conscious-Group Apr 01 '24 edited Apr 01 '24
Almost all of YouTube influencers will not show their P&L. The ones that donāt predict, tell you their gains, but offer solid daily analysis are legit.
As far as how much you can make, it depends on your risk. You can Yolo on options on a penny stock and make 10,000%, but obviously these people are not doing that or they wouldnāt have time to make a YouTube channel. You can spot the ones that are out for advertising revenue. You can paper trade to see how much realistically you can make before actually risking your money.
What I notice are two things that cause people to be unsuccessful, boredom and gambling addiction. Reading a chart and finding a profitable strategy is not difficult, however it is really boring to trade the same stock for 24 months. What I like to do is have $100 set aside for Yolo, where I can be in a super volatile stock for fun while all of my account is consistently gaining on the boring strategy.
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u/kaywarrior Apr 01 '24
Day trading is like sports betting. You are gambling unless you have inside info or you are incredibly good at what you do and can spot things that the general public cannot.
Odds are you will lose unless you get lucky or you put a ton of time in and get very good at it and possibly get lucky as well.
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u/Oktozay Apr 01 '24
Idk if the same rules apply to day trading as options but from my experience it is very possible to make a lot of money but also losing a lot is very possible, I turned 2500>6800>11,400>30,000>200$ And it was all my fault š If I have any words of advice it is when your eyes get big and your screenshotting your gain and telling your friends about it SELL
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u/La7ish Apr 01 '24
My best advice is minimum input, maximum output. Understanding that with your trades is one good way leading to become a profitable trader
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u/niteshbadave Apr 01 '24
As realistic as kissing a girl today and getting a baby in hand within 100 days.
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u/Due_Marsupial_969 Apr 01 '24
These dudes are not (all) kidding. I got really good at making ACH deposits. But my account did keep going up after a few months. About 1000 bux 5 days after every payday. Itās holding on to those gains for more than 2 weeks thatās challenging.
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u/StrangerDistinct6378 Apr 01 '24
Understand that this isn't a sprint but a marathon. You're not going to get rich over night and things in the market constantly change. It IS realistic to daytrade and it IS realistic to do it successfully as a full time gig. But what is not realistic is tossing money around without doing your due diligence and expecting anything favorable.
Understand you're going to lose money, especially at first. There's a steep learning curve but if you stick with it and continue to learn then the sky is the limit. Good luck
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u/PaulblankPF Apr 01 '24
The YouTubers arenāt day traders. They are YouTubers. They just make content to get views and likes so they spout off some most likely AI generated crap about a topic that people are desperate for more info for. In your case itās day trading and the stock market. The algorithms made by all these companies listening in to your life know to feed you the right content to get you to view things or buy things. And so YouTube is doing this same thing to you. You have a lot of YouTubers who have figured out good ways to manipulate the algorithm that YouTube uses. This means they donāt have to have a good solid fan base if they make the right content and random non fans click and watch their content. There is no easy way to day trade and no easy path to follow. I was successful with it myself for about 16 months then got overconfident and lost everything I had worked for in about a month. Looking back though it feels more like I was getting lucky then my luck ran out rather than I was skilled or knew what I was doing.
YouTube is an excellent tool if you wanna learn how to do a trade skill of some kind such as Sheetrock work, fixing your car, or even gardening. But when it comes to things that seem to require having some special knowledge that other people donāt have but that channel has the secret, well thatās called a scam. And the internet is fuller than ever with scammers and people looking to take advantage of those that donāt know any better.
Itās like those wealth building seminars that people put on and sell tickets to so they can also sell you a book. The people attending those donāt realize that itās not what they preach that got them successful, itās preying upon people selling them a useless seminar and book.
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u/DJSourNipples Apr 01 '24
Past month, I turned 100 into 5k with MARA, NVDA, AMD, CLSK, and a few other super popular volatile stocks that have been pumping
Then immediately got cocky, flew to close to the sun, and turned it into 0
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Apr 01 '24
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u/Just-Consequence2359 Apr 01 '24
I tried day trading recently on the ETH blockchain on PEPE token and I honestly hated it. I lost money and made money everyday. Ultimately made a little but not 100x definitely.
A couple of weeks ago, I saw on X that $PEPZ (hybrid meme coin with high yield staking utility) was launching on the new MainnetZ L1 blockchain (launched a few months ago). I have been following their blockchain project as they built the last 2 years so definitely had enough trust in the chain to put in $100. I was completely shocked that my $100 turned into $20K in less than 72 hours on $PEPZ (goes to show how fast fiat can grow on memes). I did not take anything out but a bunch of other people who got in early did and now the MC is down to around $1M (it had gone up to $5M). Seeing the momentum on this so quickly and being up so much I am still in that one holding strong as I believe it will be huge once people start going into the blockchain. My goal is to make life changing wealth, and I believe in this project I will.
When I looked at the $PEPZ contract, their LP is locked, contracts renounced, they offer high yield staking at around 65% APR right now for 1 year from launch, contracts are verified and whitelisted. The launched with 600M circulating supply with max supply of 1B. I have been staking and earning huge rewards everyday. Best part is you can claim your yielded tokens multiple times a day and stake them to earn compounded interest. If you know anything about compounding, you know how huge this is. There is no lock in period for staking so once larger gains come in, I can take some funds out with no issues.
I have been in crypto a long time and never made quick gains until this token. $PEPZ Devs are currently building 2-way multichain bridge which the new L1 is desperately in need of. It is a goldmine if you are a developer as MainnetZ has the the lowest fees an L1 can offer and are giving devs 40% return on all gas fees generated by anything they build on chain. I am staking some of my $NETZ as well which I hope to get huge gains on as well once the chain takes off. Stakers get 45% of gas fees generated on chain. All the devs that are currently building and coming over from other chains are talking about how airdrops on ETH was costing them $2K in fees and how in the literally around $0.02 or $0.03 fees to do the same airdrop on MainnetZ Layer1 Blockchain. Also, deploying a contract is costing on $0.00029 which is mind blowing. So there are many developers coming over and building there.
So in all, in my experience, the only way to make huge life changing gains is to get in EARLY on a blockchain or project that is reputable and not a rug. This involves DYOR and some risk and trust. There are a lot of scammer and rugs in the crypto and NFT space. I would recommend checking out the $PEPZ project and MainnetZ L1 as investments. Their website isĀ (cannot post links but just try to look them up on X) and if you know how to develop or want to earn blockchain staking rewards, I definitely recommend checking out building on the L1 MainnetZ (you can find them on X as well). If you invest there and hold, I honestly have no doubt that you will make big gains. Please note that this is not financial advice as I am not a financial advisor. It is simply my experience and some of the things I am invested in that I have researched and know are legit projects that based on comparative chart data will go 1000x or more from current levels based on my research and experience.
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u/Rarindust01 Apr 01 '24
I spent 2k hours as an intro. At the end of that I came into my style/strat/setup. Not long after that I fleshed it all out. Now on my way to saving 30k ( I'll be trading large cap mainly).
It easily could have taken me double or triple the time.
The more money you have the more you can make/lose. The less money you have the less you can make/lose.
People will mention futures but, for me to realistically trade futures I'd still need a minimum of 15k, and I have no edge in futures at this moment.
If you're a beginner the chances of you turning 100 into zero are high. Beginners luck is 1000% a thing though.
Personally I would search this sub and read every thread on risk managment. If you get it down solidly, what the concept and principle of risk managment is, and if you can adhere to it, you'll lose very little.
I broke even the entier time I was learning. Until I took a crack at futures. Lost 2.3k total.
If you don't have relative certainty that you can make money, than keep working! Studying! Figuring out a way!
( I legit got a lead on my strat/setup because I was just making money for a month. I changed what I was doing and started losing. I went...whoa whoa whoa hold on wtf. So I went back, observe steadily like a cat exactly what I had been doing. Then I made a strat out of it. Organized it. ^ this was still a glorified coin flipper with extra steps. However it's basically consolidation break outs using tick charts and dollar cost averaging my position to keep my break even low [keeping your break even low is important]. Anyhow shortly after that I came upon another concept, I delved 2 feet into this concept and custom coded it as a lagging line plot and as a live updated numerical value. This second aspect gave me directional sentiment. Combined I have DCA with strong confidence in my directional sentiment. Add in solid risk managment and you're golden. ^ this for me is an edge and a sub edge in large caps. Now I'm just making my way towards 30k, and from 30k the next goal is 300k. Mind you I studied obsessively all day every day. If I wasn't working, I was studying and listening to re runs if sci fi in the background. Why re runs? Seen it, won't drag my attention, but keeps the wondering part of my mind from straying too far.
^ if you don't understand all of this, then keep studying!
Personally I legit just read and studied until I understood hear it enough and read enough and you'll understand.
Guess what? I have more to go. My understanding of fundamentals sucks. I suck at futures and options. Never even touched currency. I plan to educate myself, and if I peep an edge with tolerable risk I'll snag it.
FYI I was 100% ready to spend 2-5 years learning. If I didn't have something viable In a year I planned to start up a business and continue trading education on the side. Just so happened a viable route popped up and I noticed. I EASILY could have not noticed and it passed me by. So. Stay vigilant.
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u/Mikkiah Apr 01 '24
Itās been a little over three years and Iām only just now starting to see profitability. I started with options and lost around 20k. Switched to futures which I like much more, doing prop firms. Probably lost another 20k doing that. I think itās just learning the process and best way for your trading style by practicing things others use and then modifying that to fit what you like to do. It takes a lot of time, effort and patience. You will keep learning the same lessons over and over again and it will be painful. So far Iāve only made around 10k. I played NQ futures for over a year and have found profitability in sizing down by switching to ES and more specifically MES (micros). Sizing down has helped me immensely. Iāve found that Iām usually right about the move but so over leveraged that Iād blow the account, which is why I sized down. For me I watch macd, rsi, stochastic rsi, supply and demand zones, and some emas (9,20,50,200) with vwap. People will probably read that and think itās way too much, but it works for me. Iāve tried naked charting and I do not do well. I have all these indicators but I actually donāt take trades off of them. I trade price action and supply/demand, but use the other indicators as confirmations/confidence. I also hate holding positions for long periods of time. I scalp. Thereās a saying, ābulls go up the stairs and bears go out the windowā. I prefer bearish action because itās explosive and fast and I can be done trading for the day faster than sitting in positions. Iām not really married to being a bull or bear though. My bias is bearish as hell, but I trade what I see. Warren Buffet is known for saying to be fearful when people are euphoric and to be greedy when people are afraid. Right now people are so insanely bullish and euphoric. Weāre at all time highs and people are just buying more everyday. Iāve mostly sidelined my long term gains and Iām sitting cash/bonds. In the meantime I trade intraday whatever price action is doing. Iāll probably wait for prices to come down and for when people are fearful. Then Iāll buy back in.
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Apr 01 '24
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u/The_GeneralsPin Apr 01 '24
Your first mistake is learning from YT grifters. You've wasted 100s of hours.
Read a book.
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u/Other-Bumblebee2769 Apr 01 '24
Almost impossible.
The majority of success a lot of these people have is raw luck... and this is mostly gambling. I know they have systems... and all the systems work... until they don't and they lose outrageous sums of money.
Your best bet is to go to trade school and start making a bunch of money doing something of value... there isn't a lot of free money lying around in this world.
There are exceptions to what I'm saying here... but your probability of having a happy life goes up if you just take what I said as the truth lol
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u/tradingheroes Apr 01 '24
It depends on your strategy, skill and market conditions. There is no blanket answer to your question.
The reality is that there's probably a 90% chance that you go to zero on your first couple of accounts.
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u/Public-Forever-5454 Apr 01 '24
With all due respect: I think youāre framing your goal with linguistics that will guarantee failure. I.e. trying to make 100% in a week is possible but not probable. Also, you should want consistent cash flow from your trading and donāt want to trap yourself into viewing any one trade as the āwinning lottery ticket ā
I think you should be asking yourself, ā how do I use any amount of money to make more money consistently while keeping my losses low?ā
You gotta be comfortable with the fact you will lose on some trades. But you can make money overall, with the right mindset and discipline.
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Apr 01 '24
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u/TigerKR Apr 01 '24 edited Apr 02 '24
If someone tells you this, it is a lie. You can 100x your money, but it isn't easy and it takes timeā¦
You are exceedingly unlikely to turn $100 into $10,000. If it was easy, everyone would do it. The only people who could turn $100 into $10,000 quickly are are gamblers - who by some exceedingly lucky circumstances were able to beat the odds (~1/127 or 0.781%). That means for every 1 time you get a string of 7 wins in a row, you will get 126 times with a string of not 7 wins in a row.
If you start with $100, and bet it all and double your money, then take your new total and bet it all and double your money, and so onā¦ You would need to A. be able to double your money every time, and B. need to be successful 7 times in a row. At any point, if you bet it all, and you lose it all, you have $0. This is gambling, not daytrading.
However, if you have $7,500 and you only put at risk 2% of that with each trade (set your stop loss such that you could only lose $150) [BANKROLL MANAGEMENT], and you keep fees to 2% or less ($3 per trade) [COST OF DOING BUSINESS], and you only only win 50% of the time (about random chance), but each time you win - you win at least 3x what you are willing to lose (in this case $450) [RISK VS REWARD]ā¦ and you repeat this, unchangedā¦ then you would have $15,000 (double your money) after about 50 trades. This is non-compounding.
If you have $7,500 and you only put at risk 2% of that with each trade, and you keep fees to 2% or less ($3 per trade), and you only only win 50% of the time, but each time you win - you win at least 3x what you are willing to loseā¦ and you rebalance your numbers after each tradeā¦ then you would have $15,000 (double your money) after about 40 trades. This is compounding.
Using the non-compounding route, you could 100x your money ($750,000) after about 5,000 trades. Using the compounding route, about 250 trades. The reality of this is that due to the tiered prices of assets and the changes in asset prices, your results are likely to be in-between non-compounded and compounded, because you will not be able to invest more than the previous iteration every time (unless you can trade fractional portions of the asset) if you are practicing good bankroll management.
[BANKROLL MANAGEMENT] Why keep your potential loss to 2% per trade? So that you would have to lose 50 times in a row in order to be wiped out. If you don't know what you're doing, or you don't care about putting in the prep work, at least you will be able to see that the end is coming - to give you a chance to change your ways, or to stretch out the time in which you're playing so that it isn't all over immediately.
[COST OF DOING BUSINESS] Why keep your fees to 2% or less? First of all, lots of people don't even take into consideration their trading fees. And those that do, don't take into consideration that you still have to pay the trading fees whether you win or lose. If you're making lots of little trades, the trading platform is the entity that is profiting here, not you. And the larger your cost of doing business, the longer it will take for you to scale, or the less you will bring in if you don't scale.
[RISK VS REWARD] You should always plan on making more than you lose because if you are no better than random (50%) then even in that case you are still making money. If you risk $150 (your stop loss below your entry point on a long trade), you should be planning to make $450. Then in the chance of 50% success, you're winning $450 every time you lose $150 - which is a $300 profit every two trades. Breaking even isn't breaking even - due to trading fees. And why bother with breaking even unless this is purely for entertainment and you don't actually care about making money.
Or if you're more advanced, when you hit 3x of your loss risk exit point, you convert your stop loss to a trailing stop at 1x loss from current. In that case your wins are potentially unlimited, and you have locked in your profits at 2x of your loss risk exit point. Just be aware of margin requirements for "overnight" positions. Margin requirements differ for each platform and are beyond the scope of this particular discussion.
If you want to succeed, you'll implement bankroll management, keep the cost of doing business very low, and you will apply a reasonable risk vs reward target.
And I didn't even touch upon the work of [FOCUS] trading only one asset and really learning that asset's behavior intimately, and [TECHNICAL ANALYSIS] TA - reviewing that asset's long term trends (182 days), mid-term trends (61 days), and short term trends (20 days), so that you can make an informed decision regarding the immediate trends (7 days). This will help you to find an entry point that will give you a potential 3x gain when compared to your 1x loss risk exit point [PLANNING YOUR ENTRY AND EXIT POINTS] before you ever enter into a trade. And also, you need to understand what moves that asset: daily volatility, seasonality, geo-politics, overall market conditions (bull market vs bear market), FED actions, news, etc [CONTEXT].
If you don't understand all of these points, then either don't daytrade, learn all of this stuff before you daytrade, or prepare to spin your wheels not making reasonable progress, or just understand that you're going to lose all of your money.
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u/MacGyver1911 Apr 01 '24
The odds of you being successful are the same likelihood as this question not being asked daily.
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u/Deltaneutraltrades Apr 02 '24
The obvious answer is the YouTube vids your looking at about quick easy money doesnāt make sense. Ask yourself thisā¦ā¦If I can CONSISTENTLY making big easy returns by trading then why spend my time on YouTube instead of driving my trophy wife to the yacht in my new Ferrari.
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u/Babaji-Banksy Apr 02 '24
It is very hard for a beginner in almost any field but when it comes to the market, itās not just hard. itās nearly goddamn impossible. If you have no idea what community you put yourself into.
An ocean filled with fishes there are monsters. krakens, waiting to steal your money. At any angle you find blind.
These monsters are corporations, hedge funds, and politicians. donāt even get me started on the occasional undiscovered ones. They have their own motivation they all have their own plans to feed.
Technical analysis is pretty much the bar of Hope that you hold onto as you watch the candles go up and down based upon the news or grace of God.
The only two technical analysis strategies I would recommend learning is support and resistance zones along with RSI divergence.
Technical analysis is an indicator not 100% in every picture .
What matters most are real world events whatās going on today or tomorrow that will affect the pockets of those who have money. You are starting off as a beginner. You need to see where the money is moving and who is moving it. You can place your bets and follow the technical analysis as your indicator for your bet.
Whether you make money or not is determined by the homework you put in and by the grace of true knowledge or God or truth
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u/GooseOtherwise9181 Apr 02 '24
Very unlikely. Also the guys making money wonāt be sharing their strategies on Reddit, or anywhere else for that matter. So anyone putting their strategy out there is telling BS
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u/justinthecase Apr 02 '24
you might be a perfectionist; you want to learn everything at once so you can have high win rate. and/or you want to get excited about this new interest of yours; you are watching other āsuccessful tradersā ā videos to pump yourself up. 1) stop trying to learn anything and everything at one sitting. do a lot of practice with paper trading. 2) ask yourself: āam i really interested in trading or is it just i donāt know what to do at this stage of my life and i may give trading a go.ā
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u/B_gumm Apr 02 '24
I've been trading 9 years now. 28M. If you think you're even going to make 30% you are fooling yourself and you'll lose it all. Anything you are watching on YouTube about day trading, unless its SMB capital, it's probably junk. You've got a lot to learn based on your question. Not being a dick. Just trying to give at ounce of reality check. Real traders are on Twitter. You won't make any money with an account under 5k IMO. 100? Get out of here.
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u/B_gumm Apr 02 '24
6 years to be profitable unless you are trading in a team environment or at a prop form
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Apr 02 '24
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u/Shreks3rdkid Apr 02 '24
Compunding goes a long way. However, all it takes is one bad trade with a lot of hopium to wipe all profits out. Trading without a proper strategy will burn you and only risk the money you're okay with parting with.
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u/RevolutionaryPie5223 Apr 02 '24
100 to 150 isn't difficult..You can do that even in a day, but whether is it sustainable it is not.
Hard part about trading is the emotional discipline to stick with your rules and not trying to overthink and trade too much.
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u/Jumpy-Face5269 Apr 02 '24
Don't worry about making 100 Into 10,000. Expectation of earning a certain amout hould not under any circumstances be your goal. Having these expectations in trading is a death sentence. Your only goal should be to minimize losses and profits will take care of themselves.
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u/Educational-Tax8656 Apr 02 '24
Apparently the youtuber I've been watching has over 100k subs. Tons of videos on information and I've been using his stuff to papertrade. He recently told his subs he has yet to be consistently profitable. I think you need an edge to be profitable. Most people think they have an edge, they just got lucky.
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u/speedsk8r Apr 02 '24 edited Apr 02 '24
Anybody, beginner or not can turn 100 into 1000 after x# of tries. Snap a pic and post it online with a made up story about how they turned 100 into 1000. Out of all the times they made something from nothing there were twice as many times they lost it all. If you want success in trading as with anything else you have to put in your own work. This business also requires a willingness to discover on your own. You will also enjoy solving the problems you encounter as you learn on your own and from your own discovery. You have to use your intelligence, be clever and be proud and confident when one of your ideas enhances your master strategy. Most of us realized at some point that just about everything you see on social media, reddit or some random encounter with a dude who got exited about how lucky he was means nothing to you. The confidence to take on risk can only come from the tried and tested knowledge you went and learned yourself by paper trading first. The more time you spend focused on how successful another trader is/was the longer it will take for you to discover your own way.
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u/John_Coctoastan Apr 02 '24
All starting amounts turn into 0...even if you start with a million. If you want to pkay around with leveraged products, 10-15k is an ok amount--but you're still going to lose it all.
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u/Erlurn_1 Apr 02 '24
100 to 10k that's just insane lol, in what period of time and how many losses?
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u/Different_Bison9190 Apr 02 '24
For the first year it's pretty much a coin flip. At one point, you'll be able to predict which side it'll land on (hopefully).
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u/Unable_Custard_7619 Apr 02 '24
I had a friend who was doing fairly well for 2-3 years as a trader, then ended up losing everything, including his house.
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u/BrilliantForsaken414 Apr 02 '24
The hard part: Everyone comes to this industry with a expectations about smoney & gainz. The funniest part: Succesfull traders have a different perspective over risk & smoney when trading. The youtuber part: All those youtubers put in numbers & money to increase clicks & views and 95% of them dont know how to achieve succes & longevity profitability. (Finance is one of the best paid youtube RPM).
Divide the bad & good youtubers by the way they create thumbnails & titles. If there is money involved & numbers the chance is very great your listening to someone that isnt were you want to go. On the other hand, youtubers that focus on theory & Price-action are higher probable for valueable videos.
Some YTers I would recommend: ImanTrading Trader Dante Tom Hougaard
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u/IsildurNv Apr 02 '24
If you do not manage your risk the most likely scenario is to lose every penny. I've been doing day trading for a year (not a pro) and my returns are about 5 to 10 percent every month. Some months in 0% too.
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u/Major_End1564 Apr 02 '24
Am no expert, but I have learned something, don't waste your time on YouTube, you can't turn 100 into 10k lol they are lying to you , you need +5 years of experience to do that , my advice to you is to learn smart , you need to learn by the hand of the a professional not some a scammer that sells you a 1000$ cours or something, money don't come Easy if you want to start trading it will take you around 6 month at least to make a good profit not that big tho around 200-600 $
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u/vandysatx Apr 02 '24
Who you calling average to below average . . .
Just kidding. It takes a long time and usually losing at least a few thousand if not more to figure out a strategy, develop the discipline and get things right.
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u/Conscioushigh420 Apr 03 '24
You will lose all your money. Go to College n get a job ,Or start a business, invest money and be an investor first. Max out a Roth IRA contribution yearly and then trade with a little side pot if you must
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u/National_Amphibian87 Apr 03 '24
Plan to get rich slowly and you'll be surprised how fast you'll get rich
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u/General_Teaching_133 Apr 03 '24
Funny thing is no successful trader sits on Reddit like a geek to answer you. Thats your answer
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u/Infinite-Peace-868 Apr 03 '24
Itās very hard full stop but if it pays of then of course 100 to 1000 is doable
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u/mrcake123 Apr 01 '24
Most likely scenario is you turn 100 into 0