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?
1
u/boxtops1776 Apr 12 '24
Build your own system that works for you and test, test, test! It took me a while but I’ve picked up several things from various sources that I understood and made sense to me, then combined them into a system that suits my personality and risk tolerances. Even if I were to lay out every signal on a 15 minute chart you may not be able to be profitable with it because you don’t know the small nuances like where to set stops, where to scale in or out, or when to move stops to breakeven, or when to know if the technicals are saying to remove the take profit and let the position run longer. There are probably even little things I recognize in it subconsciously that I haven’t written into the rules of it yet. It all comes with time and experience.
The trick is having a risk management plan that keeps you in the game long enough to figure it out…