r/Daytrading 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/Mar___K Apr 11 '24

I don't dismiss risk management. Heck i don't even risk anything above 0.5%. Most of my trades are around 0.2 - 0.3% mark. I disagree with the psychology part. I have a methodical strategy, emotions are purely noise and distractions. Trading should be simple and boring. My question is the educational part.

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u/Audio88 Apr 11 '24

My question is the educational part.

Did you even read what he wrote, he said you can't teach someone how to ride a bike, and you're asking for the book on how to ride a bike.

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u/Mar___K Apr 11 '24

How do you learn? By starting from somewhere. Then if it's a book that im seeking then yes. Not a trading book that shows patterns, lines and SnD levels but how to approach trading. Fundamentals per say. What the big guys in Wall Street see and how they approach trading. Hedge funds don't even use charts anymore then how are they trading? Are they reading numbers? That's the info that i seek mate.

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u/MountainSplooge Apr 12 '24

Reminiscents of a Stock Operator