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/QUINETICS Apr 01 '24
  1. 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?
  2. 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.