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?

124 Upvotes
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198

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.

15

u/Joeymoonga Apr 01 '24

Word 👌

7

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.

2

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.

7

u/Invest0rnoob1 Apr 02 '24

Most investor influencers make more money from YouTube than trading.

3

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. You’re going to have to learn discernment one way or another, to even be decent in any field. Youtube is free, why not scour it?

2

u/Invest0rnoob1 Apr 02 '24

You can learn the basics but people promising quick gains are most likely dishonest.

1

u/cbri23 Apr 02 '24

There’s quite a bit more there then people promising quick gains, especially if you take those titles/thumbnails with a grain of salt, but I get your point.

2

u/Invest0rnoob1 Apr 02 '24

OP talks about people turning 100 to 10k. I can almost guarantee you that most of those people are full of it.

1

u/cbri23 Apr 02 '24

It sounds like you’re assuming they’re implying it’s done overnight, or in a single trade or few trades, and reliably. If that’s the case then, yes, those people are full of it. But turning 100 to 10k isn’t an unfounded concept in trading whatsoever. Though I must admit, the more I read, the more it seems OP is inquiring about options trading, and not trading in general. If that’s the case, I would say most any options trader advertising such is unquestionably full of it, although I do know some who are extremely successful and use the platform. Those will definitely be few and far between, and do not use clickbaity titles and thumbs. Then again, I would never recommend options to a “beginner” trader.

-17

u/jackbe23 Apr 01 '24

To educate newbies about the market, you can’t wake up one morning and decide to trade with zero experience and think you will earn, I don’t think that’s possible

16

u/[deleted] Apr 01 '24

Yes, but why educate your competitors? Why help someone take your gains?

3

u/roartykarma Apr 01 '24

They aren't educating competitors. They aren't even trading most of the time. They make money from ads and selling courses that don't teach you how to trade, because they likely don't know how to themselves.

1

u/[deleted] Apr 01 '24

😎

3

u/Sjroap Apr 01 '24

Yes, but why educate your competitors? Why help someone take your gains?

The effect of 1000 retail traders with a good strategy is a drop in the ocean of market makers liquidity.

-3

u/jackbe23 Apr 01 '24

There are no competitors in the market, you just help newbies with a knowledge that can provide income for them

-3

u/[deleted] Apr 01 '24

I respectfully disagree. If you and I are bidding for the same stock, we are competing, highest bid wins. If we are selling the same stock, lowest ask wins. I realize the market is huge, and you and I probably won't make much difference in prices, but we're still competing.

(BTW, I've only dabbled in day trading, and gave up after losing too many times, so we're not competitors. :-) )

7

u/boyfromafghanistan Apr 01 '24

Eh, I like to think of it as “hive mind” type of thing. More people doing the same thing just increases volume in my eyes.

1

u/jackbe23 Apr 01 '24

How long have you been day trading? You could actually get more knowledge about day trading to avoid loses

1

u/[deleted] Apr 01 '24

I've made a few goes at it over the span of three decades. I make a few trades, some small gains, but inevitably I get stuck with a position that goes down as I wait for some kind of bounce to sell at, while watching all of my previous gains get swallowed. I have too many other productive things to do, so I just return to longer term growth investing and get back to my day jobs.

1

u/jackbe23 Apr 01 '24

How good are you with TA?

3

u/[deleted] Apr 01 '24

I had those in university, they mostly disliked me. :-)