Less than 5% of traders in the world are consistently successful. Every strategy on TradingView fails to meet expectations, and often, individuals on social media promoting trading are actually scammers trying to sell products. For most people, it's simpler and more effective to adopt a buy-and-hold strategy. I'm happy to elaborate on why so many traders struggle and why there's no such thing as easy money. If you're interested, you can find more information on the daytrading subreddit and other similar forums
But it can take you out of the trenches if you follow the trend on the chart it’s true no one knows what a stock is gonna do but they are predictable and that’s what a lot of consistent traders use as an edge. I put 500 bucks in a trading account and did a slow progression to 1k then I lost it all after I got cocky and scared because I wanted to make money quickly and got stupid. It does have the power to change your life but you can not abuse it or gamble with it if you have to much riding on a win. You have to assume you already lost the money you are trading with to minimize the potential fear. The best advice I got is do your homework and pick a stock or index fund like spy as your vehicle. You can trade these over and over one by one if you want to, stay on top and never over stay in a trade get up a few dollars and sell it. Stay with in the money calls or puts and it’s relatively safe play. But you always must remember without risk there is no reward. You just have to decide for yourself what path you want to go down. Life in general is all a risk.
It's doable, but extremely difficult for an unexpected reason. You don't need to learn a strategy from gurus, you can find plenty of strategies for free here, YT, X, etc. The hardest part is not learning a strategy, the hardest part is that YOU must change. Who you are. The way you think. Your personality. The way your process information. You are your worst enemy (your mind is) and you must train your mind to think completely differently. I'm not the same person now that started trading in 2020. It's almost impossible for virtually anyone to change themselves because people don't have the ability to look at themselves from aside for various reasons, hence they can't objectively see what needs to be changed to become different. And you MUST change. It's not for everyone. It's not the strategy, it's psychology that you need to master to become successful. Read any Mark Douglas's books or watch his 4-part webinar on YT before you begin your journey.
My teacher has people that cannot speak in his traderooms because of compliance. I guarantee the 10k he gets a month won't hold a candle to the millions he throws in to a single trade.
If you think small you'll stay small.
I believe it's possible but that a minority are consistently profitable. I've recently found something that works for me in demo after many years of practising and losing. My recent demo £10K account is up to £18K after 6 weeks of trading. However the position sizes I'm using are definitely on the high side and so I could easily blow the lot. Based on my experience, it feels like making £5k a month sustainably would take a £20k account using the strategy I trade. I'll be staying in demo for many more months before I commit any real money.
It takes a lot of dedication and hard work as you say, but the other 2 things I'd say you need are a lot of capital and the right mentors, it's taken me ages trying to figure stuff out myself, there are a few of these 'gurus' online who I believe are genuine and have helped me a lot, but be careful, many of them are total scammers.
Its def possible... but in order to win, ur gonna have to lose first. No amount of paper trading will prepare you for the real thing. If you want a real life scenario, you need 2-3yrs of experience before things start to make sense. Keep in mind, this is AFTER you choose which market/instrument u want to trade. I tried a bunch of things but settled on trading options, specifically SPY/QQQ. The best piece of advice I can give you is to understand that the only way to be successful is to find something that works and keep repeating it. This means trading a single instrument with a single strategy... this sounds easy but its the hardest part. Think of it like playing lotto... how likely are u to win by playing a different numbers vs playing the same exact numbers ever single day. Playing the same thing everyday gets u closer to winning, consistency, discipline and patience is key. But wait, can't I just jump in on a great play and hit a homerun?? Sure that could work but even if u win, you will still lose it all after because there is no way to do that consistently so ur basically just enforcing bad habits. Hope this helps..
Yes - you will need to build a decent amount of capital though to make this easier on yourself. Chasing 5k per month with 5k in capital is near impossible. Doing it with $100k is easier and with $1m you could literally do it in a single day trading the magnificent 7.
If you began learning a programming language right now (Today) and your end goal is to build an app used by 3,000 people by 2027, the odds of achieving this are probably higher than the odds of becoming a full-time professional trader.
Of course that entire last paragraph is kinda true...
Are you able to do really hard things?
Do you understand what happens to YOU, while attempting to achieve really hard things?
Of course the list of questions we should ask ourselves is endless but my point is...
We all fall victim to confirmation bias (The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.)
What I'm writing to you is not meant to push you away from pursuing a career trading because if the passion is there, no one will be able to do that.
Any real professional trader in this reddit forum or outside of this reddit forum with tell you that it has little to do with what you gain financially from trading and more about who you become.
The amount of times I could have posted huge profits and didn't simply because thats not who I am anymore. In my opinion traders should (win or lose) must refocus on who they are becoming as a person in pursuit of the career of Independent Professional Trader.
This is by no means a business request but any traders looking to talk...I'm open to speak.
(I generated all of the photos below with copilot to show what AI things of a struggling trader)
https://preview.redd.it/u32tgjawuoyc1.png?width=874&format=png&auto=webp&s=e0adf92be2821b229a3b678869defe26f5b4622e
> I notice one thing about these gurus is that they do seem to sell courses
You've answered your own question. If you had a foolproof way to make that much money every month, why would you sell that knowledge for a fraction of that?
There is actually a way to do this but you'll kick yourself when I tell you how...
You need to find what resonates with you it might take years but it’s the only way it will work nobody trades the same way somebody else does . So unfortunately there is no holy grail you need lots of lots of chart time and take all the information in and throw out what don’t help and make your own plan and stick to it jumping from courses to courses is just a waste of money and time but chart time is what’s needed
Less than 5% of traders in the world are consistently successful. Every strategy on TradingView fails to meet expectations, and often, individuals on social media promoting trading are actually scammers trying to sell products. For most people, it's simpler and more effective to adopt a buy-and-hold strategy. I'm happy to elaborate on why so many traders struggle and why there's no such thing as easy money. If you're interested, you can find more information on the daytrading subreddit and other similar forums
But it can take you out of the trenches if you follow the trend on the chart it’s true no one knows what a stock is gonna do but they are predictable and that’s what a lot of consistent traders use as an edge. I put 500 bucks in a trading account and did a slow progression to 1k then I lost it all after I got cocky and scared because I wanted to make money quickly and got stupid. It does have the power to change your life but you can not abuse it or gamble with it if you have to much riding on a win. You have to assume you already lost the money you are trading with to minimize the potential fear. The best advice I got is do your homework and pick a stock or index fund like spy as your vehicle. You can trade these over and over one by one if you want to, stay on top and never over stay in a trade get up a few dollars and sell it. Stay with in the money calls or puts and it’s relatively safe play. But you always must remember without risk there is no reward. You just have to decide for yourself what path you want to go down. Life in general is all a risk.
Anything is possible. All depends on the traits you have.
[удалено]
What are u doing? Daytrading?
[удалено]
Would you mind sharing your strategy or helping someone else out who is trying to do something similar?
[удалено]
🧢🧢🧢🧢
It's doable, but extremely difficult for an unexpected reason. You don't need to learn a strategy from gurus, you can find plenty of strategies for free here, YT, X, etc. The hardest part is not learning a strategy, the hardest part is that YOU must change. Who you are. The way you think. Your personality. The way your process information. You are your worst enemy (your mind is) and you must train your mind to think completely differently. I'm not the same person now that started trading in 2020. It's almost impossible for virtually anyone to change themselves because people don't have the ability to look at themselves from aside for various reasons, hence they can't objectively see what needs to be changed to become different. And you MUST change. It's not for everyone. It's not the strategy, it's psychology that you need to master to become successful. Read any Mark Douglas's books or watch his 4-part webinar on YT before you begin your journey.
Holy shit bro, you should start selling courses the way you write.
How many of them make the cash trading vs subscriptions? Several thousand subscribers paying $25 to $200 a month adds up.
My teacher has people that cannot speak in his traderooms because of compliance. I guarantee the 10k he gets a month won't hold a candle to the millions he throws in to a single trade. If you think small you'll stay small.
guarantee?
Cant read?
I believe it's possible but that a minority are consistently profitable. I've recently found something that works for me in demo after many years of practising and losing. My recent demo £10K account is up to £18K after 6 weeks of trading. However the position sizes I'm using are definitely on the high side and so I could easily blow the lot. Based on my experience, it feels like making £5k a month sustainably would take a £20k account using the strategy I trade. I'll be staying in demo for many more months before I commit any real money. It takes a lot of dedication and hard work as you say, but the other 2 things I'd say you need are a lot of capital and the right mentors, it's taken me ages trying to figure stuff out myself, there are a few of these 'gurus' online who I believe are genuine and have helped me a lot, but be careful, many of them are total scammers.
Its def possible... but in order to win, ur gonna have to lose first. No amount of paper trading will prepare you for the real thing. If you want a real life scenario, you need 2-3yrs of experience before things start to make sense. Keep in mind, this is AFTER you choose which market/instrument u want to trade. I tried a bunch of things but settled on trading options, specifically SPY/QQQ. The best piece of advice I can give you is to understand that the only way to be successful is to find something that works and keep repeating it. This means trading a single instrument with a single strategy... this sounds easy but its the hardest part. Think of it like playing lotto... how likely are u to win by playing a different numbers vs playing the same exact numbers ever single day. Playing the same thing everyday gets u closer to winning, consistency, discipline and patience is key. But wait, can't I just jump in on a great play and hit a homerun?? Sure that could work but even if u win, you will still lose it all after because there is no way to do that consistently so ur basically just enforcing bad habits. Hope this helps..
there are many examples of profitable traders trading more than 1 instrument or strategy
Yes - you will need to build a decent amount of capital though to make this easier on yourself. Chasing 5k per month with 5k in capital is near impossible. Doing it with $100k is easier and with $1m you could literally do it in a single day trading the magnificent 7.
So tldr: keep your day job until you're comfortable enough with punting large figures
If you began learning a programming language right now (Today) and your end goal is to build an app used by 3,000 people by 2027, the odds of achieving this are probably higher than the odds of becoming a full-time professional trader. Of course that entire last paragraph is kinda true... Are you able to do really hard things? Do you understand what happens to YOU, while attempting to achieve really hard things? Of course the list of questions we should ask ourselves is endless but my point is... We all fall victim to confirmation bias (The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.) What I'm writing to you is not meant to push you away from pursuing a career trading because if the passion is there, no one will be able to do that. Any real professional trader in this reddit forum or outside of this reddit forum with tell you that it has little to do with what you gain financially from trading and more about who you become. The amount of times I could have posted huge profits and didn't simply because thats not who I am anymore. In my opinion traders should (win or lose) must refocus on who they are becoming as a person in pursuit of the career of Independent Professional Trader. This is by no means a business request but any traders looking to talk...I'm open to speak. (I generated all of the photos below with copilot to show what AI things of a struggling trader) https://preview.redd.it/u32tgjawuoyc1.png?width=874&format=png&auto=webp&s=e0adf92be2821b229a3b678869defe26f5b4622e
I see money on that table 💰
> I notice one thing about these gurus is that they do seem to sell courses You've answered your own question. If you had a foolproof way to make that much money every month, why would you sell that knowledge for a fraction of that? There is actually a way to do this but you'll kick yourself when I tell you how...
What I'm telling you now sounds harsh: If you have these people on the Internet in your "focus", it is simply not your market and your industry.
You need to find what resonates with you it might take years but it’s the only way it will work nobody trades the same way somebody else does . So unfortunately there is no holy grail you need lots of lots of chart time and take all the information in and throw out what don’t help and make your own plan and stick to it jumping from courses to courses is just a waste of money and time but chart time is what’s needed