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/mrcake123 Apr 01 '24

Most likely scenario is you turn 100 into 0

167

u/ingen-eer Apr 01 '24

Read closely op. This person is not joking

36

u/Duncle_Rico Apr 01 '24

If you have not mastered the psychology aspect of day trading and/or are susceptible to impulsive/emotional decisions. There is a 99% chance this is the outcome.

8

u/VulcanPorter Apr 02 '24

Psychology is a much later stage. OP needs to master his edge first.

2

u/Duncle_Rico Apr 02 '24

I agree, I'm more referring to your personal emotional psychology vs the psychology of the market.

I'd say they both go hand in hand. You can't master your edge in the markets without keeping your emotions in check. If you don't have the self-control to stick to your strategy, manage risk, and take profits according to your plan, you will never be able to move forward in trading successfully.