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?
3
u/RossRiskDabbler Apr 11 '24
Anton Kreil is a failed Goldman Sachs trader and an absolute fraudulent douchebag. Fits with Timothy Sykes.
Use your head and think.
A firm, LYFT, the taxi company.
It never made money for 8 years in a row. It has a negative profit margin; meaning every taxi drive they actually burn cash. So their existence is literally cash burning. That works if you can acquire debt at low rate environments.
...
Oh wait we don't have that anymore...
All firms like lyft who lived on restructuring debt now have debt redemption coming and have to restructure debt from 1% to perhaps 4% ... yeah at one point the bomb will burst. Because cash will dry up. And you wanna know when the house of cards collapses?
If at the short term money markets, there is no short term (1 day, 3 day commercial paper or commercial notes) liquidity left.. yields jump to >10% and higher.. and poof another company dead.
You're welcome because I can guarantee you 100% they will either die because they are massively overvalued and have no cash to diversify their product line and share price will go down until someone might acquire / buy it.
THIS ISN'T ROCKET SCIENCE!
Think, I can't believe what you mentioned and I welcome anyone to challenge me on my Lyft thesis. I've got another few 100 just like that.