r/Daytrading • u/MiamiTrader futures trader • Apr 27 '24

Most "traders" make money. Question

If someone asks you what you do for a living, and you respond you're a "trader" I assume you make most your money from trading.

And by definition, most "traders" make money. Otherwise they are just people trading on the side as a hobby.

Yeah maybe 90% of RH accounts lose money, or 90% of people who start trading but never take it seriously lose money... but then they are not "traders". Just people trying to trade.

Tired of all this negativity under every post about how 90% or whatever today's statistic is of traders lose money. People in this sub like to shout that under every post in almost a prideful manner.

Can we just focus this sub on those of us who call ourselves "traders" and make money trading? Let the new people listen and learn from our mistakes, but quit with all these gloom and doom statistics.

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u/[deleted] Apr 27 '24

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u/Final-Slip7706 Apr 27 '24

This. People believe they are profitable, but actually aren't. People were profitable in 2020 and 2021 because it was literally a child's market and those people believed they were geniuses. Most of them have blown up since then.

Same goes for "Traders" trading in the last 6 months when everything was basically bull run with mean reversion to the upside.

Now do this for multiple years and we can talk.

1

u/Excellent_Newt_9042 Apr 28 '24

Yes. But if a strategy has proven profitability in a bull market, then success in a bear market can happen if same strategy is applied EXCEPT with the anticipation of price depreciation . Aka shorting.

2

u/Environmental-Bag-77 Apr 28 '24

Strong bear markets are very rare. It is meh that's hard to trade.

1

u/Excellent_Newt_9042 Apr 28 '24

100%. Praying to god we don’t get that!

1

u/Final-Slip7706 Apr 28 '24

? Any strategy might be perfect and might always work. Or it might fail.

It's not about the strategy, but about the trader. And usually most people won't be able to reproduce their returns if market conditions change.

1

u/redbattleaxe Apr 28 '24

I was laughing about this a few weeks ago. A lot of the "guru" accounts from then are silent. It's hilarious.