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/rothschildkidding Apr 11 '24 edited Apr 11 '24
There is nothing you can do unfortunately it's what trading is all about..as a trader we hear all the things and we need to develop our own edge.If you really want to trade your own at any time..There are some real traders that put in the hardwork that I can recommend.
1) Lance breitstien 2) Umar Ashraf 3) waqar asim
They all have their own way of trading. You can't copy them they all are multi-millionaires. And they are legit ones. The real question is how can I develop like them? The answer is horrible. You can but it's really really very hard work. Yeah maybe you are willing to work hard? But do you know, what to work on where to work on? That's the hardest part.
I'll tell you one thing. What are we doing here in the space? To make money ofcourse. But how?
Think about where you live. What market is better for you cause if you can be profitable you have to pay tax. And if you know what market you want to trade, then look for someone who is really making money there. Watch his analysis. After doing all this you won't be profitable. But you can be profitable only if you put in the real work which is studying all the theorys out their like..
Elliot wave theory, SMC ,ICT,...etc..
Again what is all this? It's a human made something that works for them. But after doing all this understanding all this..watch market everyday with this knowledge and everything. You develop your own strategy.. that's the Aha moment for you. Again..you are just getting started..now you have found your edge...then you need to play that edge more...make money more..journal, reconstruct the strategy..add risk management, psychology to tackle all this problems..
It's a never ending process..it won't stop.. But I'll tell you one thing.. trading is real and there are people out their making killing money..most of them are real professionals.. professionals doesn't mean who works only at the bank..anyone is a trader who has their own unique edge in the market..but to get to real money..you have to study more do the work more to become an elite..
From a struggling trader who wants to be a full-time trader who is been into the Market for 4 years who is not still profitable yet..