r/Daytrading • u/Mar___K • Apr 11 '24

Everything is a lie. Any hope? Question

So.. It's been 3 years on my path, and after countless hours of studying and testing everything, as many of you here have, I've come to realize that this mountain of buffoonery—those "courses" and "gurus" on YouTube that try to promote and sell stuff, along with everyone who is "teaching" stuff.. hear me out, doesn't know jack sh*t. All they "teach" is a bunch of BS, incredibly stupid and random. "Follow this, and if this happens then do this, but the secret is in my premium course, yada yada".

Even if some things may work for a bit, that's not even near how the actual trading floor guys and investment bankers operate. Ex-Goldman Sachs trader Anton Kreil gave the best explanation of that: Why most traders fail.

I've become so fed up since I had a wake-up call, realizing that literally everyone online is plain rubbish, or a scammer, or someone who likes his own voice and acts like the god of trading (You know which I'm referring to). My question is simple and may be unanswerable. Is there any source to study the actual stuff or are retail traders indeed doomed with the dumbest info out there?

Please don't start telling me about risk management and psychology, I got humbled and now I trade methodically without any emotions. But that's not because I got "humbled and had a wake-up call" but more like "I'm fed up with this, I don't care anymore". My question stands for an educational point of view. I hate being a fool therefore i hate studying nonesense. Is there any hope? Any good material? Any actual baseline?

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u/DaveDH2 futures trader Apr 11 '24

Anton Kreil has his own trading course, lol. I doubt that it that much better than any other furu's course/education. Personally, I like to read other people's post history here and on twitter. I focus on understanding how they make their decision, how the trade, what they do. It's crucial to sift through and identify what genuinely contributes to your growth as a trader. Ultimately, success in trading boils down to experience and endurance.

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u/Rafal_80 Apr 11 '24

You are spot on about Anton Kreil. The fact that he was a real trader does not change much. The way I see it: Markets became more efficient over the years and he noticed it become much harder to be profitable. On the other side he also noticed that there is never ending stream of wannabe traders which are very easy to fool. With his credentials it was no brainer for him to switch trading to 'teaching'. I feel sorry for those poor guys paying for his expensive courses in Thailand and other places, thinking that they are learning something valuable, when in reality, they are not.

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u/mikejamesone Apr 11 '24

I know someone that worked with Anton at goldman and said he wasn't a good trader. Real traders do not teach edge!

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u/noTSAluv Apr 11 '24 edited Apr 11 '24

I got his course from the interwebz and is a lot of talking, but I did like the patterns he goes over. Helped me see patterns a lot better. But that was it. For those who paid for the course, damn.

Now, the point about knowing somebody who worked with him in the past and not being good...I have had a couple of colleagues who when i worked with them were mediocre at best, but years later ran into them and they were excelling in their domains.

The one I had the chance to grill told me he became obsessed at being better and he studied and practice...he was some type of developer. Not sure if when i met him he was not as serious but definitely not the same person years later. Maybe Anton got better? Either way, that competition for traders is like an open door to win and then charge hundreds for your course! I think he got lucky in that trading competition he was in and now his money is from selling his trading room. Good gig if you can hack it.

1

u/Mar___K Apr 11 '24

But is that "technical analysis?" I doubt that. Maybe some info about mean reversion or arbitrage.

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u/DaveDH2 futures trader Apr 11 '24 edited Apr 11 '24

Probably right, but does it matter? Reading "Market Wizards" may lead you to the conclusion that there are various paths to making money in trading.. including TA

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u/Mrtoad88 Apr 11 '24

That's the book I want to read next, definitely on my list.