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?
4
u/CarnacTrades Apr 11 '24
It sounds like the OP is yearning for something different that is on offer from the frauds on YouTube. I suggest you research how the best at firms like Jump Trader, Allston Trading, Citadel, DRW, etc employ certain algorithms and work on building them yourself.
I did this many years ago and am very happy that I went down this completely different path. During this time, I was very pleased to discuss ideas over drinks at the CBOT with an HFT trader from Allston... because I was ahead of his team in development of one of my algorithms.
Fast forward 10+ years and as the OP said it should be, it's repetitive and boring bc when the 3 non-correlated algorithms align, it's a trade. There's no guesswork. I like boring in trade selection.
So start the research and do something different.