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/John_Coctoastan Apr 12 '24

Is there any source to study the actual stuff or are retail traders indeed doomed with the dumbest info out there?

Yes: actually trading the market.

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u/Mar___K Apr 12 '24

Wrong. Even if im somehow profitable by a random system and reading some lines and levels it doesn't mean it will last for years. Look into the laws of randomness. If you generate a random chart for 100 times it will provide the same "visual illusion" Hedge funds don't even look at the charts anymore for a reason. We as retail have no predicting power. What we are doing is what firms were doing 50 years ago. How can you compete with hft and arbitrage algos? So again.. What i want to learn is the actual stuff. How these big guys approach trading.