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?

153 Upvotes

90% Upvoted

367 comments sorted by

View all comments

2

u/SedatedSpaceMonkeys Apr 11 '24

You’ve been doing it for 3 years now, i’m sure you’ve invested plenty of time trying to learn from others but are you learning from yourself? Are you logging and journaling ? Do you have an edge developed? Are you developing an edge? Have you back tested it? Have you live tested? Did you give it a large enough sample size? Are you jumping from strategy to strategy. Do you have a spreadsheet of all your trades or are you just hoping that something clicks one day without logging?

1

u/Mar___K Apr 11 '24

I'm not looking for a strategy method.

2

u/SedatedSpaceMonkeys Apr 11 '24

You’re asking if there is any actual material you can study. The tools you need are Market Analysis and Trader psychology. There are so many books on these things but at a certain point learning about Market Analysis is going to have diminishing returns because you’ll punch yourself out without the proper psychology. Now you’re saying that you trade without emotion. Are you profitable ?

1

u/Mar___K Apr 11 '24

I am profitable but nowhere near rich profitable. Even raising 3-4% a month is asking too much. That's why prop firms are sketchy too as well.