Yep these online trading gurus are the biggest con merchants going. Trading is hard, don’t let anyone tell you it isn’t. I’ve been trading for 12 years and it took me almost 4 years to become consistently profitable.
There's a REASON they're selling TH-cam video clicks instead of being so wildly profitable day trading they don't need to bother with that. And selling trading courses, and on and on. It's challenging making money in the market short term, even if selling option theta (where time is on your side) vs. trying to day trade. And I leave a large majority of my stocks sitting in boring passive index funds for literally decades, never selling.
This is a stupid comparison. If somebody told you that you could outperform 99% of businesses with 0 effort, you’d do it. This is why instead of wasting your time and effort trying to day trade, of just buying a low cost ETF (that beats 99% of day traders) is the smartest thing you can do.
How not to fail starter pack: 1. Master price action(this is crucial) 2. Learn to analyze trends, support, resistance 3. Use economic calendar for major economic news which significantly move price 4. You don't impose your opinions on market, you wait for the right moment when price moves and ride the trend 5. You don't have to trade every day to make money 6. Train patience
This is great. May I add... never risk more than 2% of your capital on any one trade (I only risk 1%) have stop losses maxes for each trade, day, and week. Always use a stop, get out when your set up fails. You need to survive the 3 out our 7 trades that don't work (on a 70% expectancy set up) If you let 1 or 2 trades that don't work kill your profits you'll never make it. The real secret in this job is taking your losses quickly. Don't move your stop loss. If it gets hit... you are done with that trade. Start looking for the next set up. When you first start ... only trade one or two things. And only trade one or two set ups... you need to master those. I still to this day only trade the NASDAQ E mini futures contract, and Russell E mini futures contract. Do not jump around looking for magic set up. The best setups are not 100 percent. Keep going. Your experience is what is going to make you a good trader. I takes a long time and a lot of effort.
day trading isnt the scam, its the people (trade guru's) lying about how easy day trading is. day trading is profitable but ONLY if you actually use trading strategies and have knowledge about stocks. dont be like like the 90% that just jump into stocks and just gamble your money without thinking, thats the real reason why people lose money while trading, not the trading itself.
even the ones with strategy give up after losing too many times, not willing to sit and gain valuable experience through losses and wins. trading requires a certain mentality that most humans are not built for, suppressing emotions and remaining stoic, taking A LOT of losses, resisting being greedy, being able to consistently evaluate and criticize yourself, adapting quickly and frequently, accepting change (maybe your strategy just isn't efficient) etc. It requires a certain mentality that you need training and a lot of experience for and I think most are not willing to go through it
I am a day trader now for 2 years my strategy is support and resistance wich trendlines I se that 55% of my trades are wins. You can never be right at a trade that's not possible but you can manage your risk by trading wich support and resistance . If you win more on the winners side and you lose less on the losses you can make money but it's very difficult to do this it's take a lot of time but after 2 years I made 600 euro on average a day so you can make money on daytrading
It's not impossible money to make day trading, especially over short periods of time, but it's very hard to make money consistently over longer periods of time. You wrote this 8 month ago. How have you done since you wrote this post?
It is just taking a bit longer for the law of averages to kick in, trust me on this. The only trader who can rightfully claim to “have” won is if & when he quits right after the win. If you don’t agree ask one of the legends in this line of business: Jesse Livermore. He went through several roller-coasters on the way to an untimely avoidable death. Companies succeed because they use the law of averages to their advantage: they regularly weed out losing ones replacing them with ones on a winning streak. Laws such as these are unbreakable. 😊And I am not even mentioning shenanigans like insider information, spoofing & obviously size where they can move markets to their advantage by price-signalling taking daytraders like you for a ride in advance of taking a position. So by all means enjoy you “wins” but don’t make it a habit you cannot shake off. 😊
55% wins is low. I use my own one-trade-a-day algorithms and typically have around 65% winning trades, which over a year gives me an approx. 100% return.
Risk managment is everything. Losing correctly is the secret of this game. You have to experience every way there is too lose before you start to win. That takes time.
@@lungelosbongakonke1603 i do get what you are saying and i totally agree with that. but you will need to prove that 8 year claim though by uploading a video of ur first trade and time.
There are many profitable traders but like any other high paying job you have to study for a few years before seeing any results. The failure rate is so high cuz people trade with the expectation of winning without any experience or by learning some scam course from an online guru.
Yes, people in india (from where i am) dedicate 16 years of their youth to become a skilled employee of a software company and only then they earn some good money. And then the same people leave day trading in just an year or less saying its a scam! Not to mention a success in day trading would pay them much more than their software jobs.
@@Noble570wrong, its well known ( to real traders )that the worst days to trade are bank holidays. The markets don't even move when the banks aren't there to "manipulate".
I've noticed myself and other traders, at least in the beginning, don't have the discipline to wait for the setups. I've kept detailed notes on my trades and notice on days when I wait for a setup I make money and on days when I follow the market and just jump on some spike I usually lose or make very little.
For me swing trading and position trading with the trend is much more effective. I got killed as a day trader. Not to say I did not win or have big wins, but it never lasted. I would have been better off swing trading. Stay strong!
@@Mindwise-vo5lo "stay strong" while im chilling here and automatically DCA in a high quality fund for the long term. Statistically, I'll beat 95% of day/swing traders in a 5 year span (at that number gets smaller after every passing year) without lifting a finger... but hey 'stay strong' indeed.
went through 100s of videos literally 100s and finally found this one this golden video backed by probability before possibility backed by logistics before statistics!!!!!!!!!!
she right and honest ,dont be fool by fake guru or advertisements. most peoples loss money then win . if most peoples wins all of us be millionaire already, dont fall for it
Yes for the average person just invest for the longterm. However if you are a hardworker and willing to put in thousands of hours backtesting trading, you can be greater than average. Never let people tell you what you can or can't do just because they failed.
I believe it’s all about waiting patiently for your perfect set up and not trade too often, those who fail usually are addicted to trading and just do it for excitement.
And go slow be patient with yourself learning I know everyone want to make a lot of money soon as possible but you got to learn first and learn using no money or very little. Then slowly increase the amount of money you use and you get more confident and experienced
You are guaranteed to be terrible at it when you start and you will blow your accounts. Most people give up after that. This is what is leading to the statistic that 97% of people fail. They do not take the statistics of those who stick with the profession and actually learn to trade. I have been trading for years and I am profitable.
Great video Karson. I started out trading penny stocks and then transitioned into trading SPY options. As a day trader I would win and keep giving my money back. I started trading back in 2016, so I've been at this for years. The risk management has to be right on point where you are sticking to your plan. What I found out the hard way is that I had a higher probability of winning, not by day trading, but by swing trading and position trading with the trend. In fact, you can go for weeks without a good setup to day trade, which is what happened to me in 2023. Most day traders like myself, end up forcing trades, and getting into trades that only chop sideways all day long. People who show they are making all this money every day are not telling the truth. Most people online are making money off of selling the concepts and setups to people who are just starting out. Stay strong!
Exactly, 5 hours a day, 200 plus trading days, 1000 hours a year.. 4 years maybe 4000 hours later you got some real knowledge of price flows and you’ve run various strategies if your smart with real money but real small money.. maybe your getting there maybe you still need another 2 years.. I person that can get it in even 2 years is a unicorn and I’m sure it has happened especially if they had a good mentor, but it takes time and especially LOVE..
You can't make 1% when your positions starts to be above 5 millions. There's slippage and its harder to get filled. Your calculations are unrealistic. Yes the majority of day traders a losing because they don't learn risk management properly.
LOL, why one would be stupid to have positions even above one million? I know there are those that do, but it's so dumb. Just keep your smaller account smalls and then move anything above a million into stable investments and then just keep repeating the cycle that way your large accounts are still growing at the same time. And you are right about risk management. That's really what made me become a profitable trader is very good risk management. Probably about 90% of traders don't even practice this.
@@direwolf27 exactly and with some people, misery loves company and they try and do their best to bring others down. Her ego is so big that she can't conceptualize other succeeding if she didn't succeed. In her mind, she failed, so that means everyone else should fail as well. So sad to have a loser mindset like that.
@@direwolf27 yea i think so, she blew a few 1000s without having an understanding of it works. And her excel calculations, oh dear hilarious i mean if she is making that kind of calculations she should definitely stay away from anything that involves money or trading 😂
Day trading takes luck, unless you know 'for certain' that is stock is going to do well that sounds like ones using insider information. Buying and holding high quality funds are statistically much more profitable, so keep dreaming lol.
@@alexaceves1836 1. Holding takes way more luck and your way more fucked if you hold something and it drops substantially 2. there's an element of luck in almost everything due to uncertainty of the future majority of day trading is skill that's why certain people do astronomically better than others consistently 3. The reason holding is "statistically better" is because majority of people are shit at trading if you compared top traders in sol memecoins to an s&p 500 holder the trader wins
@@alexaceves1836 Skill issue. It's muppets like you who will tell other ordinary people that trading is a scam. Here's a little tip: Give 2% of a shit. You need to have a very special type of mind to succeed in this business. Just like becoming a doctor or a software engineer, you need experience, hours and hard work put in to learning how to profitably trade. You need to know some mathematics, be able to do statistical analysis, etc. Not just backtesting and farting with indicators, but opening a spreadsheet and crunching some numbers, writing ideas in a journal for future reference, etc.
@@alexaceves1836 You don't need to know anything for certain. I'm a profitable poker player, and do that by having the skill to profit about 65% of sessions, and minimize my losses in losing sessions. From hand to hand, I never know 100% what my opponents hand is, or if my hand will win, but I have an edge because I've put in the hours over years of studying the game more than other players. Short term variance is "luck". Whether you're a winner over the long term is skill. For day trading, if your profit/loss ratio is 2:1, then you only need to have an accuracy of 33% to break even (no where near certainty). If you're profit/loss ratio is 1:1, then you need to have an accuracy of 50% to break even. It's ridiculous to say you need to know for certain that a stock is going to do well. You use the information that is available to you to gain a statistical edge. A profitable day trader won't know for certain if any individual trade they make is going to be profitable, but they don't have to. They only need most of their trades to be profitable, or to have a profit/loss ratio that balances out their losses. I'm not saying that's an easy thing to do, because it's not.
@@alexaceves1836 no, not luck. skill. it takes skill to wait for patterns, reliably stick to the right entries, and stop out consistently for a small loss for the ~30% of the time the pattern doesn't work out. sounds like you lacked the emotional control and skill to make it work. that's a you problem.
Respect. You just went against an industry. I'm in the investment and financial industry, there is so much that retail traders don't know about how rigged the system is. Been on both sides now, the truth checks out. I'm going to make a similar video uncovering this. Great work Karson! The sneakiest way to make money, is to tell people how to make money. 🤭
@@Gengingenno it works if done with discipline, planning, and then post day or week evaluation, and years of experience.. it’s not really trading honestly is risk management, probability evaluation, and money management.. there is zero prediction as no one can predict price action it is chaotic and unpredictable for anyone or even any computer, as soon as you become a player you become part of the action you are trying to predict.. I’ve been 3 years trading consistently upward, up two steps back one, up three back one, up one back two it happens, but it always goes up and to right over the long haul..
I can actually change the market direction. Whenever I buy, the market goes down...immediately! (I should live stream my trades and make a service out of this!) Actually, Im not kidding.
Same. I know what you mean. Tell me when you sell or buy please haha ;) It's still possible to trade though. Swing trading is easier to profit from than day trading or scalping, just have to have patience
I agree. Many people selling these courses make it seem like you can do it while working full time on a busy schedule. It's incredibly hard to do. It's a full time job to be a day trader especially if you aspire to be like the 1% to 3% that are top level.
You are absolutely correct 👍🏽 I was a Day and Swing trader for 10+ years and in the long run, I lost more money than I ever made. You are also absolutely correct about long-term investing. Because that's all I do now, and I've been able to get back everything I've lost from trading. I primarily buy Bitcoin. Every time it DIPS, I simply buy more and Hodl (Hold) 🤷🏽♂️
i make $60 everyday on average with 30k account daytrading after more then 4 years, it's possible but requires discipline and lots of work. i only keep doing it beacause i love it. not for everyone
This is the way. 👋 When you get to this stage you know it's possible to take it to the next level. You have the skill, you're willing to do the work AND you enjoy the process. Scaling up is down to the individual and their personal goals. Nowadays, there's sites like DarwinX or one of the many so-called 'prop' firms to leverage your success.
If you are only making 60 USD on a 30K account and you have been doing this for 4 years then you are just wasting your time unless you have a goal to eventually double your daily gains...
@@mustafabaris9681 How could they have been wasting their time? If super consistent, that's 50% annual return. Which Hedge Fund manager or professional investor makes that in a year?
@@mustafabaris9681That's 4% consistent monthly returns, which is fantastic. Consistency is key in trading, and different goals for traders. Trading is get rich slowly but surely. Show me a bank that can give you 2% monthly returns, and the world would line up to deposit their money. You are so wrong to say this return is a waste of time. Push your account hard, and you will soon find out!
I just started trading. I typically trade only a few stocks with solid financials and buy on the dip. Sell short. Seems to work for me. Why aren't more people using this method?
Profitability is absolutely possible, but as you've pointed out; those peddling their 'systems' are not the ones making money from trading. Most scammers advertise the exact same tools and ideas, and none of them are winning strategies, due to the fact that big banks and financial institutions can see what you are doing and know where your entries and stops are likely to be. If you think you can see some kind of support/resistance or trendline, then so can they. The way to make money is to do what the masses are not. Patience is the key. For example, I didn't trade at all from Mon-Thurs this week, but caught a massive move upwards on Gold on Friday. I knew it was likely coming, but sat on my hands until it did. 5% account gain for the week without trying to hit any crazy targets.
She was thinking of an exponential-function: let k be you starting capital, 'a' be your (daily) growth factor and t the number of days that have passed (excluding your first day), then you'd have: k * a^t or in this case k * 1,01^t
The truth about day trading is that you can make a decent living at it, but only if you start with a sizeable amount of capital and are okay losing or breaking even for the first 2 or 3 years while you learn to identify proper entries. It will then become a job like any other. It's definitely not a get rich quick scheme, though.
Yeah, the only edge for retail traders is long term investment in good stocks when they are under intrinsic value. Day trading is randomness and requires lot of experience and money management
I am a long term trader in day trading. I buy a stock in the first minutes of the market open and wait for 360 minutes on that position. Our trading sessions are 6.15 hours in a day. With a 1 minute tradinf timeframe, 360 is certainly a long term!. I hope you agree.
They are manipulated to think everyone is clever enough to do it until it comes with real money. If you start small amounts you may win, once large sum invested you loose everything.
I actually did that years ago, but I had a great deal of education and experience leading up to it. I sold all my other stocks and went 100% on margin on a single stock, based on the great strength of its chart. So I was more than all-in, I was TWICE all-in because fully on margin! The stock edged up very slightly during the first month. Then suddenly it just exploded upward! Why? It was a company takeover, one that I had "predicted" without knowing a shred of inside information. The chart told the whole story. I doubled my entire net worth overnight that day.
Ive been trying to learn how to trade for 12 years im done im honestly thinking about startimg a ecomerce or some calisthenics youtube channel i wasted my whole 20s didnt even complete college and i gave up my dream to be a music producer trying to learn forex its not worth it
@lungelosbongakonke1603 it should be laws for this shit I dint know how these influncers sleep at night I just decided I'll just get a data engineer job I can travel anywhere and live remote if I get thevright job
The statistics are flawed dramatically. They don’t take into account how long they’ve been trading, how they’re trading, setups if any and etc. It’s grouping seasoned traders with someone that just started yesterday. You can’t just stare at a chart and place orders. A footprint chart, book map and drawn zones are the key. Lastly, the job of a retail trader is to react to the reaction of the markets, not predict like everyone came accustomed to during the outrageous bull run.
@@daniel6648 Exactly. I forgot who said it but, “Doctors and lawyers take 7+ years, so think of trading like school. The first few years are trials and errors paving your path, the later years are the equivalent to a doctoral degree”… Something like that, but it resonates with me profoundly.
I 100% agree with you. I saw a poll recently that said over 75% of all traders are college students and over half of those quit within the first year of trading. It's like, know wonder the failure rate is soo low lol. And of course the ones who fail at it are the ones who are most vocal about telling the world that it doesn't work.
its an art that not many people can do,you need to be extreme good and within months or years develop your own technique strategy,most people think its fast money but it is not..
Ross Cameron makes his trading account open for all to see on his videos, he also has videos showing his LIVE video challenges starting from $500 and making money over several days / weeks - he has documented proof that he turned it into millions of dollars, he currently has over $12 mill U.S - but he will be the first to tell you its NOT typical - but it IS possible and i think this is why we try it, dont forget that while approx 80% of day traders fail miserably , there are approx 20% that dont - i personally will strive for the 20% - i appreciate the video and as things are, your stand against the online shonks is 100% correct
Ross' small account challenge was basically a scam because he leveraged it with margins. While he does have an edge in entering a trade, the rest of his strategies have flaws. That's why he has huge p/l swing on any given day. I don't doubt he is profitable, but I'd be hard pressed to believe he can perform at this level without building a business around the stock market. All of his living expenses come from selling courses and scanner subscriptions. He basically trades for the retirement.
@@hahasleepyjokelostforever3797 everyone can leverage , hardly a scam lol - you still need to win the trade regardless, you can lose just has hard, flawed argument, he has taken 10 years + to make 12 mill + and has just completed 2 green months in a row , you don't need to be hard pressed either just watch his vids and check his balance yourself, im not a Ross fanboy btw but he should be congratulated for his hard work and NON monetised You Tube channel. no strategy can work for everyone, best to watch and learn a lot of them and find your style, the one that suits your own risk management.
Day trading increases risk of failure because of the amount of trades that day traders attempt. The trick is to wait for a good setup on the daily chart, buy a pullback in a bill market, unless it's so bullish that it's ok to buy back in, and then let it go up to where you believe it is approaching the top. This could be over a period of an hour to a day or two. Day trading is a scam
I'm a scalp trader and do fairly well. I only scalp trade spy. I say scalp, but I'm fine with .25 to .50 cent moves. I also leave at least 1 contract running and that results in the occasional home run trade. But you are right in the sense that too many day-traders over-trade. I think they get the slot machine mentality where they pull the handle and hit a jackpot and instead of walking out of the casino, they keep pulling the handle over and over. I've never had a problem with over-trading. One just has to be disciplined. Love day trading!
I have been trading since 2021 August and my target is to have a system that makes money in at least 2026. 5-year journey should be enough for me to have learnt things about trading. And if I don't see improvement from my 5 years, I'm ready to quit and admit that trading is not for me. I understand that it is not for everyone. Just like after I graduate from college in 4.5 years only to know that this isn't the study I wanted. ... but for now until the 2026, I am still learning and keeping my journal so make sure I know what to do in that year
The day traders I've watched, on TH-cam, they do tell you about the risk and their losses. They look for a 1 to 3 ratio. Most of what you're stating is false. Yes... you are also stating the truth about those who don't do their homework and start out big. Also, they do show their accounts. The tubers I've been watching aren't selling courses. Just explaining how they set up their charts. MACD, SMA, EMA,VMAP ECT.
When I was Day Trading I always purchased stocks that I wouldn't mind holding long term. So if I let a Day Trading stock get too low, I would just hold it long term. To do this you would have to have additional cash to continue your Day Trading. If all of your Cash goes to long term stocks, then your Day Trading is Out of Business. That happened to me and I was out of business for two years until my long stocks came back. Then I was back to Day Trading again.
regardless of what people think. if you are going to use a statistic to prove your point. and say the chances are against you. Then why doesn't the stat of 90% of all businesses fail count. literally if you were deciding what path to take based on your chances, they would be equally the same... And for all those people saying stocks can be manipulated but not businesses. You sound uneducated in the matter. Literally it's the best marketers that win in a business so big business manipulates other business out of business ALL THE TIME... it takes hard work to get a business going and the more you put in the higher chance of success. same for trading. the hard work is just in a different form, its all mental and since we can't see a person move and sweet we think they aren't working hard.... would a fisherman be lucky if he studied fish and the ocean for a year, then catches a boatload of fish in one day... everyone from the outside would say yes because they just saw a man looking at the ocean Everday for a year not doing anything then one day has a bunch of fish. they would call him an overnight success but really the work was made silently.
I am a Trader not a day trader, I use fundamentals mainly to position myself. Basically the charts to me are only a matter of entries if it's cheap or not
Daytrading can be profitable but you need tight stop loses and do not use levarage at the beginning. Tried it and its not for me, too much risk. Also i personally prefeer spot trading as you own what you bought unlike perpetual contracts.
It's possible. If you invested in the spring of 2020 you might succeed. It all depends on the timing. 2008 was also a good year to start. Of course we didn't know it then. It looked pretty bad.
I used to do day trading, max gain in a day is about 20,000 dollars. However, at the end of 2nd year, my total loss is about 200,000 dollars. Day trading need strict deciplines and self control which most of people lack of. It is kind of anti human. We getting exicited once strock start to rally. The chances of wining in day trades will be decreasing as the number of trades increasing. Thinking about gambling. I decided to quit day trading at start of 3rd year. And my account also start to grow back slowly with some credit spread options trading and long term investment
I totally agree that most if not all of the "trading gurus" on TH-cam are just making their money through selling their courses. And I totally agree that trading isn't easy, BUT it is definitely something that can make you wealthy. It is 100% doable. For every losing trade there is of course a winning trade. The winners are the ones that have the better mindset, patience and the skills to quickly spot and get out of a losing trade. And also know when to close and profit from a winning trade. Its not really rocket science, it's just about keeping a cool mind. All trades are really just a 50/50. Technical analysis isn't something you can rely on, its just a rough guide. The market can go either way whenever it wants. You just need a decent risk reward, and learn not to hang onto your losing trades.
This is not true for everyone. If you have a patience mind set, swing trade and keep your limits low you can do just fine. It’s when greed and gambling enter your mind where you can get in trouble. The only problem with day trading are the videos on TH-cam. That is the core of the problem. What happens if you put your money in an index fund and the market crashes like in 2008? You will lose just as much…ETF don’t use stop loses and charge a lot of fees that diminish your return. No investment, ETF’s included are safe…none to the market. If someone wants to study how to do covered calls, which do have a very nice probability of returns, then who are you to stop someone? What are your credentials? Someone who just dumped all your money in a Vanguard ETF and see an annual percentage, which after fees and inflation is not the actual return? You advice is good for maybe a teenager who has a little money to his or her name but mature adults can decide on their own.
In general, in order to succeed in day trading, you need at least three years of daily practice, simulation and screen time. How many of traders do all this three? Probably noone! I have been through this. During the last 2 months I am making on average 2.05% day in day out with 2 or max 3 trades per session. No red day so far. I have also done it on my other account last year but my performance was around 0.5-0.8% daily that time. I can do even better than 2%.All broker statements are kept and can be presented upon request. Your assumption is completely wrong because you take into consideration the average day trader with zero or minimal knowledge. The successful day traders amass millions each month.
Day trading ruined me pretty hard. The stress made me drink to the point where 3 years later I got fired for alcohol. Now what do I have left? The futures market and only 2 months of savings left...
you speadsheet idea is flawed, there is no way you can keep compounding that far with fx. 100x leverage which is what most use is the beginning to make those 1% gains, once you get past a point then the slippage you get from opening up those huge position will eat all your potential profit, most brokers will slip you 1-2 pips more than indicated once you start opening up positions above 10 lots on major forex pairs, doesn't matter if it's cfd's or futures, once you get to 100 lots on a single position then it can be 10 pips in slippage, so infinite compound is not a valid way to think about it, most people with retail access will stop at around 100k and just make 1% on that without compounding further or they reduce leverage and go for less profit which make a lot more sense but will not give you those insane numbers you have in your spreadsheet.
Tim sykes got me into it back in like 2016-2017. Did ok, tihk after like 80 trades i was up $400 bucks after the $10 fee everytime i bought or sold lol. Not for me.
i just started trading its my 2nd month and I'm a little bit of profitable already but i have taken losses and i stopped using all types of strategys and stuck to one and i half to say its going ok i just need to work more on it get my craft right and eventually turn it into a full time job but the main thing i feel like people fail at is pushing yourself to keep going because people go in thinking its a quick way to make bread and be done with it but its more than that its going in and learning and making mistakes because the person who makes the most mistakes knows the most on do's and dont's and knows how to get better with time than rather making no mistakes and never learning from them but it is possible to be profitable and do it dont listen to be saying traders lose this much or traders make this much because they are not u an u are not them this is a jounery u half to be willing to take and make it trough and actually learn instead of rushing Patience is the best word u can have for something like this because if you don't have it then it won't work the way u think.
I’ve been trading now for four years. I became profitable around year three after I studied Mark Douglas trading in the zone psychology. The first two years I lost money because I didn’t have the mindset. I didn’t know what I was doing and I was sold on the get rich quick stuff. That’s why over 90% of traders fail. But if you told me I would be making 8 to 10,000 per month trading and not have a job five years ago I would say you were crazy. Trading is a game of losses. You have to treat it like a casino. You’re the casino if you can’t handle losses this game isn’t for you. It’s not like a regular 9 to 5 job.
Congratz, but I never liked the casino reference. I think it would be more like a casino if a trader was "guessing" as opposed to letting the setups come to them and taking high probability setups with good risk management.
@@down-the-rabbit-hole The casino reference is better. You’re the casino. Not someone going to the casino with no risk management looking to get rich tomorrow and blowing their account that’s not what I’m talking about. The casino knows exactly how much money they’re going to risk. They have rules and they follow those rules. If you don’t like the word casino that’s more of a emotional response. You can’t have emotions in the market.
Don't let this discourage you. Most fail because most give up. Most fail because they aren't in it for the right reasons. So probably 90% of the failures are just by default. One percent a day is very, very possible.
The shovel sellers of course always win, as long as demand is there for their courses. Daytrading is incredibly expensive, the high costs alone mean you're almost guaranteed to lose. Please remember, an annual return of 20% on your capital is already considered elite territory. It's very unlikely you'll achieve this return goal, no matter what you trade and how often. Markets are so superefficient (no matter if FX or stocks or whatever) that correct price forecasts are simply not possible in many cases !
But just the fact that 3% or so even make tell you that it's doable. It's not as if those 3% have a crystal ball or are psychic lol... You also have to be careful, because if you EXPECT to fail or think you will fail, you will fail. Like the old saying says, "think you can, think you can't, either way you are right".
This video is absolutely spot-on empirical, anyone looking to get into trading should fully understand the Dunning-Kruger effect and consider the fact that you are subject to your own self appraisal, which is subject to your own emotion bias. One of the best traders of all time, Jim Simons, was able to consistently generate 65% per year, that comes out to about $2.00 per day for every thousand dollars. So when TH-camrs claim you can make thousands off just $500, Run away.
Saw a show on tv that followed the top day traders for two years 99 percent loss in those two years but a lot of them crushed before the two years and were all rich!!!one percent will win it ain't how good you are or anything else it is how fast your computer is because the margins all small!but awesome truthful video!!!
Stock market is operated like a casino, a Stock is similar to a jackpot machine in casino. And there are some watchers that monitor what happen in every single machine .
Yep these online trading gurus are the biggest con merchants going. Trading is hard, don’t let anyone tell you it isn’t. I’ve been trading for 12 years and it took me almost 4 years to become consistently profitable.
There's a REASON they're selling TH-cam video clicks instead of being so wildly profitable day trading they don't need to bother with that. And selling trading courses, and on and on.
It's challenging making money in the market short term, even if selling option theta (where time is on your side) vs. trying to day trade.
And I leave a large majority of my stocks sitting in boring passive index funds for literally decades, never selling.
Took me 6 months
Do you profit through a broker or without a broker
is tha a Forex
@@rufdymond took me less than 1 year nasdaq
Remember most business' of any kind have a 90% failure rate. It's not just trading.
Agreed 😮 but forex is 98% failure n it's not easy I trade I know
This
Are you among the 2% or the 98% ? @@ashmedia1883
This is a stupid comparison. If somebody told you that you could outperform 99% of businesses with 0 effort, you’d do it. This is why instead of wasting your time and effort trying to day trade, of just buying a low cost ETF (that beats 99% of day traders) is the smartest thing you can do.
Business are not manipulated, stocks are
How not to fail starter pack:
1. Master price action(this is crucial)
2. Learn to analyze trends, support, resistance
3. Use economic calendar for major economic news which significantly move price
4. You don't impose your opinions on market, you wait for the right moment when price moves and ride the trend
5. You don't have to trade every day to make money
6. Train patience
wisdom right there!
This is great. May I add... never risk more than 2% of your capital on any one trade (I only risk 1%) have stop losses maxes for each trade, day, and week. Always use a stop, get out when your set up fails. You need to survive the 3 out our 7 trades that don't work (on a 70% expectancy set up) If you let 1 or 2 trades that don't work kill your profits you'll never make it. The real secret in this job is taking your losses quickly. Don't move your stop loss. If it gets hit... you are done with that trade. Start looking for the next set up. When you first start ... only trade one or two things. And only trade one or two set ups... you need to master those. I still to this day only trade the NASDAQ E mini futures contract, and Russell E mini futures contract. Do not jump around looking for magic set up. The best setups are not 100 percent. Keep going. Your experience is what is going to make you a good trader. I takes a long time and a lot of effort.
Except 5th i agree all
@@Thediscerningtapereader yea off you go mongol
use stop losses on every trade, no exceptions
day trading isnt the scam, its the people (trade guru's) lying about how easy day trading is. day trading is profitable but ONLY if you actually use trading strategies and have knowledge about stocks. dont be like like the 90% that just jump into stocks and just gamble your money without thinking, thats the real reason why people lose money while trading, not the trading itself.
this is true, they make it seem easier then it is, but I wouldn't say they throw money in without thinking at all.
even the ones with strategy give up after losing too many times, not willing to sit and gain valuable experience through losses and wins.
trading requires a certain mentality that most humans are not built for, suppressing emotions and remaining stoic, taking A LOT of losses, resisting being greedy, being able to consistently evaluate and criticize yourself, adapting quickly and frequently, accepting change (maybe your strategy just isn't efficient) etc.
It requires a certain mentality that you need training and a lot of experience for and I think most are not willing to go through it
Exactly
@Sswervyy, true. Also, over leveraging is the biggest problem.
Get rich quick mindset
No. Day trading lose money. It's very damn true. Emotion drain all your life and money.
I am a day trader now for 2 years my strategy is support and resistance wich trendlines I se that 55% of my trades are wins. You can never be right at a trade that's not possible but you can manage your risk by trading wich support and resistance . If you win more on the winners side and you lose less on the losses you can make money but it's very difficult to do this it's take a lot of time but after 2 years I made 600 euro on average a day so you can make money on daytrading
You wrote: "You can never be right at a trade..."
I think what you tried to say is this: "You can't always be right..."
These have opposite meanings.
thanks for your statement....do you use fibonacci or make it by elliott-wave ?
It's not impossible money to make day trading, especially over short periods of time, but it's very hard to make money consistently over longer periods of time. You wrote this 8 month ago. How have you done since you wrote this post?
It is just taking a bit longer for the law of averages to kick in, trust me on this. The only trader who can rightfully claim to “have” won is if & when he quits right after the win. If you don’t agree ask one of the legends in this line of business: Jesse Livermore. He went through several roller-coasters on the way to an untimely avoidable death. Companies succeed because they use the law of averages to their advantage: they regularly weed out losing ones replacing them with ones on a winning streak. Laws such as these are unbreakable. 😊And I am not even mentioning shenanigans like insider information, spoofing & obviously size where they can move markets to their advantage by price-signalling taking daytraders like you for a ride in advance of taking a position. So by all means enjoy you “wins” but don’t make it a habit you cannot shake off. 😊
55% wins is low. I use my own one-trade-a-day algorithms and typically have around 65% winning trades, which over a year gives me an approx. 100% return.
Risk managment is everything. Losing correctly is the secret of this game. You have to experience every way there is too lose before you start to win. That takes time.
Bingo.
Even with your risk management you will not make money Gee trust me, been trading for 8 yrs now followed every RULE, but still it wasn't worth it
risk management is like saying i will lose money slowly instead of all at once doesn't change the core problem that is you are guaranteed to lose
@@lungelosbongakonke1603 i do get what you are saying and i totally agree with that.
but you will need to prove that 8 year claim though by uploading a video of ur first trade and time.
yep
There are many profitable traders but like any other high paying job you have to study for a few years before seeing any results. The failure rate is so high cuz people trade with the expectation of winning without any experience or by learning some scam course from an online guru.
One of the first lessons you learn in the startup phase is that it isn't high paying, unrealistic expectations is the number one cause of failure.
Yes, people in india (from where i am) dedicate 16 years of their youth to become a skilled employee of a software company and only then they earn some good money. And then the same people leave day trading in just an year or less saying its a scam! Not to mention a success in day trading would pay them much more than their software jobs.
No, There are no many profitable traders, and No, even after studying for years, you will still fail because the markets are manipulated against you.
@@Noble570wrong, its well known ( to real traders )that the worst days to trade are bank holidays. The markets don't even move when the banks aren't there to "manipulate".
The problem with very long time is that you might want to use your money while your young / healthy instead of old with limitations.
I've noticed myself and other traders, at least in the beginning, don't have the discipline to wait for the setups. I've kept detailed notes on my trades and notice on days when I wait for a setup I make money and on days when I follow the market and just jump on some spike I usually lose or make very little.
For me swing trading and position trading with the trend is much more effective. I got killed as a day trader. Not to say I did not win or have big wins, but it never lasted. I would have been better off swing trading. Stay strong!
@@Mindwise-vo5losame
@@Mindwise-vo5lo "stay strong" while im chilling here and automatically DCA in a high quality fund for the long term. Statistically, I'll beat 95% of day/swing traders in a 5 year span (at that number gets smaller after every passing year) without lifting a finger... but hey 'stay strong' indeed.
@@Mindwise-vo5lo what is swing trading and position trading?
@@alexaceves1836 what is DCA?
I love how honest you are, and you dare speak the truth.
Why?
lol
Its the truth because you don't want to believe that others make money
went through 100s of videos literally 100s and finally found this one this golden video backed by probability before possibility backed by logistics before statistics!!!!!!!!!!
Thanks!
she right and honest ,dont be fool by fake guru or advertisements. most peoples loss money then win . if most peoples wins all of us be millionaire already, dont fall for it
Yes for the average person just invest for the longterm.
However if you are a hardworker and willing to put in thousands of hours backtesting trading, you can be greater than average.
Never let people tell you what you can or can't do just because they failed.
I believe it’s all about waiting patiently for your perfect set up and not trade too often, those who fail usually are addicted to trading and just do it for excitement.
Got to get up enough money to trade with and live on without a job for so long to learn to trade
And go slow be patient with yourself learning I know everyone want to make a lot of money soon as possible but you got to learn first and learn using no money or very little. Then slowly increase the amount of money you use and you get more confident and experienced
It takes time to learn not to make all the rookie mistakes that everyone makes when they first start. Got to get passed that
You are guaranteed to be terrible at it when you start and you will blow your accounts. Most people give up after that. This is what is leading to the statistic that 97% of people fail. They do not take the statistics of those who stick with the profession and actually learn to trade. I have been trading for years and I am profitable.
Do you have a 9-5 job?
Another stat people shouldresearch is the 90/90/90 rule. A sobering stat
They do look at the statistics of those who stick with it and learn to trade....thats the 3% who dont fail at it.
That's right, they want to instantly make money without doing the research gaining knowledge, discipline, strategy & edge.
@@komfyka lot of people keep there 9-5 while trading
Great video Karson. I started out trading penny stocks and then transitioned into trading SPY options. As a day trader I would win and keep giving my money back.
I started trading back in 2016, so I've been at this for years.
The risk management has to be right on point where you are sticking to your plan.
What I found out the hard way is that I had a higher probability of winning, not by day trading, but by swing trading and position trading with the trend.
In fact, you can go for weeks without a good setup to day trade, which is what happened to me in 2023. Most day traders like myself, end up forcing trades, and getting into trades that only chop sideways all day long.
People who show they are making all this money every day are not telling the truth.
Most people online are making money off of selling the concepts and setups to people who are just starting out. Stay strong!
Most people don't put in the thousands hours testing a strategy finding a strategy that consistently wins before going live.
Exactly, 5 hours a day, 200 plus trading days, 1000 hours a year.. 4 years maybe 4000 hours later you got some real knowledge of price flows and you’ve run various strategies if your smart with real money but real small money.. maybe your getting there maybe you still need another 2 years..
I person that can get it in even 2 years is a unicorn and I’m sure it has happened especially if they had a good mentor, but it takes time and especially LOVE..
Exactly.
Thats not even half the work. You need sound psychology to be profitable
I have make this and its works! 13 years developing.
@@denism.8468 ok mate you deffo make it👍🏾
You can't make 1% when your positions starts to be above 5 millions. There's slippage and its harder to get filled. Your calculations are unrealistic.
Yes the majority of day traders a losing because they don't learn risk management properly.
exactly, thats what i m saying
LOL, why one would be stupid to have positions even above one million? I know there are those that do, but it's so dumb. Just keep your smaller account smalls and then move anything above a million into stable investments and then just keep repeating the cycle that way your large accounts are still growing at the same time. And you are right about risk management. That's really what made me become a profitable trader is very good risk management. Probably about 90% of traders don't even practice this.
@@down-the-rabbit-holeFacts she just mad because she blew a account without understanding how anything even works lol
@@direwolf27 exactly and with some people, misery loves company and they try and do their best to bring others down. Her ego is so big that she can't conceptualize other succeeding if she didn't succeed. In her mind, she failed, so that means everyone else should fail as well. So sad to have a loser mindset like that.
@@direwolf27 yea i think so, she blew a few 1000s without having an understanding of it works. And her excel calculations, oh dear hilarious i mean if she is making that kind of calculations she should definitely stay away from anything that involves money or trading 😂
congratulations on figuring out that day trading takes skill
Day trading takes luck, unless you know 'for certain' that is stock is going to do well that sounds like ones using insider information. Buying and holding high quality funds are statistically much more profitable, so keep dreaming lol.
@@alexaceves1836
1. Holding takes way more luck and your way more fucked if you hold something and it drops substantially
2. there's an element of luck in almost everything due to uncertainty of the future majority of day trading is skill that's why certain people do astronomically better than others consistently
3. The reason holding is "statistically better" is because majority of people are shit at trading if you compared top traders in sol memecoins to an s&p 500 holder the trader wins
@@alexaceves1836 Skill issue. It's muppets like you who will tell other ordinary people that trading is a scam. Here's a little tip: Give 2% of a shit. You need to have a very special type of mind to succeed in this business. Just like becoming a doctor or a software engineer, you need experience, hours and hard work put in to learning how to profitably trade. You need to know some mathematics, be able to do statistical analysis, etc. Not just backtesting and farting with indicators, but opening a spreadsheet and crunching some numbers, writing ideas in a journal for future reference, etc.
@@alexaceves1836 You don't need to know anything for certain. I'm a profitable poker player, and do that by having the skill to profit about 65% of sessions, and minimize my losses in losing sessions. From hand to hand, I never know 100% what my opponents hand is, or if my hand will win, but I have an edge because I've put in the hours over years of studying the game more than other players. Short term variance is "luck". Whether you're a winner over the long term is skill.
For day trading, if your profit/loss ratio is 2:1, then you only need to have an accuracy of 33% to break even (no where near certainty). If you're profit/loss ratio is 1:1, then you need to have an accuracy of 50% to break even. It's ridiculous to say you need to know for certain that a stock is going to do well. You use the information that is available to you to gain a statistical edge. A profitable day trader won't know for certain if any individual trade they make is going to be profitable, but they don't have to. They only need most of their trades to be profitable, or to have a profit/loss ratio that balances out their losses. I'm not saying that's an easy thing to do, because it's not.
@@alexaceves1836 no, not luck. skill. it takes skill to wait for patterns, reliably stick to the right entries, and stop out consistently for a small loss for the ~30% of the time the pattern doesn't work out.
sounds like you lacked the emotional control and skill to make it work. that's a you problem.
If you put in tons of screen time you can be successful at it. The problem is 90% of those who attempt trading aren't willing to make that sacrifice.
You're right 👍
when i hear people talk about failing all i think about is to succed and prove them wrong
Respect. You just went against an industry. I'm in the investment and financial industry, there is so much that retail traders don't know about how rigged the system is. Been on both sides now, the truth checks out. I'm going to make a similar video uncovering this. Great work Karson!
The sneakiest way to make money, is to tell people how to make money. 🤭
what do you mean about the system being rigged
One great man said - Technical Analysis works until it doesn’t 😂
Thats called consolidation and it happens to every trader. Its just a temporary slow period 😂
Just because you suck doesn't mean it's a write off. Trust me.
This means the cool-aid hasn’t yet reached your brain? 😊
@@Gengingenno it works if done with discipline, planning, and then post day or week evaluation, and years of experience.. it’s not really trading honestly is risk management, probability evaluation, and money management.. there is zero prediction as no one can predict price action it is chaotic and unpredictable for anyone or even any computer, as soon as you become a player you become part of the action you are trying to predict.. I’ve been 3 years trading consistently upward, up two steps back one, up three back one, up one back two it happens, but it always goes up and to right over the long haul..
She have the statisics on her side. Its a fact that most people loose money trading over time.
Your brain is fried like a chicken
@@Gengingen Usually only those who fail in life will tell you that something doesn't work. I think it's the misery loves company mindset.
Excellent video! Loved the content and the editing.
Thanks Misha!
I can actually change the market direction. Whenever I buy, the market goes down...immediately! (I should live stream my trades and make a service out of this!) Actually, Im not kidding.
sounds like a genuinely viable strat. get someone whos really bad at trading and just do the opposite of them
How many shares are you buying to make a market impact
Same. I know what you mean. Tell me when you sell or buy please haha ;)
It's still possible to trade though. Swing trading is easier to profit from than day trading or scalping, just have to have patience
similar problem here
I agree. Many people selling these courses make it seem like you can do it while working full time on a busy schedule. It's incredibly hard to do. It's a full time job to be a day trader especially if you aspire to be like the 1% to 3% that are top level.
You are absolutely correct 👍🏽 I was a Day and Swing trader for 10+ years and in the long run, I lost more money than I ever made.
You are also absolutely correct about long-term investing. Because that's all I do now, and I've been able to get back everything I've lost from trading.
I primarily buy Bitcoin. Every time it DIPS, I simply buy more and Hodl (Hold) 🤷🏽♂️
Thank you! Honesty and clarity...how precious.
This lady speaks the truth! Good video, very well said
i make $60 everyday on average with 30k account daytrading after more then 4 years, it's possible but requires discipline and lots of work. i only keep doing it beacause i love it. not for everyone
This is the way. 👋
When you get to this stage you know it's possible to take it to the next level. You have the skill, you're willing to do the work AND you enjoy the process.
Scaling up is down to the individual and their personal goals. Nowadays, there's sites like DarwinX or one of the many so-called 'prop' firms to leverage your success.
If you are only making 60 USD on a 30K account and you have been doing this for 4 years then you are just wasting your time unless you have a goal to eventually double your daily gains...
@@mustafabaris9681 that sounds alright if hes not using any leverage and trading things that hardly move.
@@mustafabaris9681 How could they have been wasting their time? If super consistent, that's 50% annual return. Which Hedge Fund manager or professional investor makes that in a year?
@@mustafabaris9681That's 4% consistent monthly returns, which is fantastic. Consistency is key in trading, and different goals for traders. Trading is get rich slowly but surely. Show me a bank that can give you 2% monthly returns, and the world would line up to deposit their money. You are so wrong to say this return is a waste of time. Push your account hard, and you will soon find out!
I just started trading. I typically trade only a few stocks with solid financials and buy on the dip. Sell short. Seems to work for me. Why aren't more people using this method?
Hey, Quit what you are doing you will loose a lot of money. IT NOT WORTH IT. idk you and im not hating. But you will remember my words later.
what she said is truth. Day trading stable profit is not easy for the long run !
Profitability is absolutely possible, but as you've pointed out; those peddling their 'systems' are not the ones making money from trading. Most scammers advertise the exact same tools and ideas, and none of them are winning strategies, due to the fact that big banks and financial institutions can see what you are doing and know where your entries and stops are likely to be. If you think you can see some kind of support/resistance or trendline, then so can they. The way to make money is to do what the masses are not. Patience is the key. For example, I didn't trade at all from Mon-Thurs this week, but caught a massive move upwards on Gold on Friday. I knew it was likely coming, but sat on my hands until it did. 5% account gain for the week without trying to hit any crazy targets.
Returns percentage is a function of capital invested. You must have enough capital to cover losses and still survive.
Thanks for the post, what formula are you using in your 1% spread sheet example? Thank You.
She was thinking of an exponential-function: let k be you starting capital, 'a' be your (daily) growth factor and t the number of days that have passed (excluding your first day), then you'd have:
k * a^t
or in this case
k * 1,01^t
The truth about day trading is that you can make a decent living at it, but only if you start with a sizeable amount of capital and are okay losing or breaking even for the first 2 or 3 years while you learn to identify proper entries. It will then become a job like any other. It's definitely not a get rich quick scheme, though.
Identifying entries isn't enough.
This feels like a comment made by someone who doesn't actually do it. This is like if I asked ChatGPT to tell me how this works.
Thank u so much Karson, we keep learning from ur vids 🙏✨
Yeah, the only edge for retail traders is long term investment in good stocks when they are under intrinsic value. Day trading is randomness and requires lot of experience and money management
I am a long term trader in day trading. I buy a stock in the first minutes of the market open and wait for 360 minutes on that position. Our trading sessions are 6.15 hours in a day. With a 1 minute tradinf timeframe, 360 is certainly a long term!. I hope you agree.
How come on paper trading I can make thousands a day but when I do a real account I lose my ass?
They are manipulated to think everyone is clever enough to do it until it comes with real money. If you start small amounts you may win, once large sum invested you loose everything.
Slippage, commissions, and emotions.
day trading is a long rough path. learning to use the right tools is the key. nothing about following gurus😂
I'm about to go all-in on one trade!
Haha please don’t!
😂🤣
Right? I'm selling everything, the house, the car, and my kidney to go ALL IN! lol!
I actually did that years ago, but I had a great deal of education and experience leading up to it. I sold all my other stocks and went 100% on margin on a single stock, based on the great strength of its chart. So I was more than all-in, I was TWICE all-in because fully on margin! The stock edged up very slightly during the first month. Then suddenly it just exploded upward! Why? It was a company takeover, one that I had "predicted" without knowing a shred of inside information. The chart told the whole story. I doubled my entire net worth overnight that day.
Ive been trying to learn how to trade for 12 years im done im honestly thinking about startimg a ecomerce or some calisthenics youtube channel i wasted my whole 20s didnt even complete college and i gave up my dream to be a music producer trying to learn forex its not worth it
Big guy for me it been 8 years and i quited medicine degree for it and nothing good came with it but misery only
@lungelosbongakonke1603 it should be laws for this shit I dint know how these influncers sleep at night I just decided I'll just get a data engineer job I can travel anywhere and live remote if I get thevright job
I'm surprised that one study even examined people who day traded back in 1995? The commissions alone would've killed you.
Spot on. The hardest thing about trading is finding a tutor who is genuine among the thousands of con artists :)
The statistics are flawed dramatically. They don’t take into account how long they’ve been trading, how they’re trading, setups if any and etc. It’s grouping seasoned traders with someone that just started yesterday. You can’t just stare at a chart and place orders. A footprint chart, book map and drawn zones are the key. Lastly, the job of a retail trader is to react to the reaction of the markets, not predict like everyone came accustomed to during the outrageous bull run.
@@daniel6648 Exactly. I forgot who said it but, “Doctors and lawyers take 7+ years, so think of trading like school. The first few years are trials and errors paving your path, the later years are the equivalent to a doctoral degree”… Something like that, but it resonates with me profoundly.
Shhhhh don't tell everyone
I 100% agree with you. I saw a poll recently that said over 75% of all traders are college students and over half of those quit within the first year of trading. It's like, know wonder the failure rate is soo low lol. And of course the ones who fail at it are the ones who are most vocal about telling the world that it doesn't work.
its an art that not many people can do,you need to be extreme good and within months or years develop your own technique strategy,most people think its fast money but it is not..
Ross Cameron makes his trading account open for all to see on his videos, he also has videos showing his LIVE video challenges starting from $500 and making money over several days / weeks - he has documented proof that he turned it into millions of dollars, he currently has over $12 mill U.S - but he will be the first to tell you its NOT typical - but it IS possible and i think this is why we try it, dont forget that while approx 80% of day traders fail miserably , there are approx 20% that dont - i personally will strive for the 20% - i appreciate the video and as things are, your stand against the online shonks is 100% correct
Ross' small account challenge was basically a scam because he leveraged it with margins. While he does have an edge in entering a trade, the rest of his strategies have flaws. That's why he has huge p/l swing on any given day.
I don't doubt he is profitable, but I'd be hard pressed to believe he can perform at this level without building a business around the stock market. All of his living expenses come from selling courses and scanner subscriptions. He basically trades for the retirement.
@@hahasleepyjokelostforever3797 everyone can leverage , hardly a scam lol - you still need to win the trade regardless, you can lose just has hard, flawed argument, he has taken 10 years + to make 12 mill + and has just completed 2 green months in a row , you don't need to be hard pressed either just watch his vids and check his balance yourself, im not a Ross fanboy btw but he should be congratulated for his hard work and NON monetised You Tube channel.
no strategy can work for everyone, best to watch and learn a lot of them and find your style, the one that suits your own risk management.
Day trading increases risk of failure because of the amount of trades that day traders attempt. The trick is to wait for a good setup on the daily chart, buy a pullback in a bill market, unless it's so bullish that it's ok to buy back in, and then let it go up to where you believe it is approaching the top. This could be over a period of an hour to a day or two. Day trading is a scam
I'm a scalp trader and do fairly well. I only scalp trade spy. I say scalp, but I'm fine with .25 to .50 cent moves. I also leave at least 1 contract running and that results in the occasional home run trade. But you are right in the sense that too many day-traders over-trade. I think they get the slot machine mentality where they pull the handle and hit a jackpot and instead of walking out of the casino, they keep pulling the handle over and over. I've never had a problem with over-trading. One just has to be disciplined. Love day trading!
I have been trading since 2021 August and my target is to have a system that makes money in at least 2026. 5-year journey should be enough for me to have learnt things about trading. And if I don't see improvement from my 5 years, I'm ready to quit and admit that trading is not for me. I understand that it is not for everyone. Just like after I graduate from college in 4.5 years only to know that this isn't the study I wanted. ... but for now until the 2026, I am still learning and keeping my journal so make sure I know what to do in that year
Perfect video Karson!! 👍 You're a great presentor/speaker.
Professional day trading is called quantitative trading, and you better understand the math behind it if you aspire to making a profit
The day traders I've watched, on TH-cam, they do tell you about the risk and their losses. They look for a 1 to 3 ratio. Most of what you're stating is false. Yes... you are also stating the truth about those who don't do their homework and start out big. Also, they do show their accounts. The tubers I've been watching aren't selling courses. Just explaining how they set up their charts. MACD, SMA, EMA,VMAP ECT.
Great content! Hopefully the algorithm picks you up
Thanks Nathen! That would be amazing
When I was Day Trading I always purchased stocks that I wouldn't mind holding long term. So if I let a Day Trading stock get too low, I would just hold it long term. To do this you would have to have additional cash to continue your Day Trading. If all of your Cash goes to long term stocks, then your Day Trading is Out of Business. That happened to me and I was out of business for two years until my long stocks came back. Then I was back to Day Trading again.
Investing guru throwing shade on trading gurus 😁
Remember the odds of making the NBA is 0.0001% from all HS players so 10% success rate honestly is not bad at all...
I definitely needed to hear this thanks alot ❤
regardless of what people think. if you are going to use a statistic to prove your point. and say the chances are against you. Then why doesn't the stat of 90% of all businesses fail count. literally if you were deciding what path to take based on your chances, they would be equally the same... And for all those people saying stocks can be manipulated but not businesses. You sound uneducated in the matter. Literally it's the best marketers that win in a business so big business manipulates other business out of business ALL THE TIME... it takes hard work to get a business going and the more you put in the higher chance of success. same for trading. the hard work is just in a different form, its all mental and since we can't see a person move and sweet we think they aren't working hard.... would a fisherman be lucky if he studied fish and the ocean for a year, then catches a boatload of fish in one day... everyone from the outside would say yes because they just saw a man looking at the ocean Everday for a year not doing anything then one day has a bunch of fish. they would call him an overnight success but really the work was made silently.
Nice to hear such down to earth information/advice.
Real eye opener. Thanks.
You’re welcome
I am a Trader not a day trader, I use fundamentals mainly to position myself. Basically the charts to me are only a matter of entries if it's cheap or not
Daytrading can be profitable but you need tight stop loses and do not use levarage at the beginning. Tried it and its not for me, too much risk. Also i personally prefeer spot trading as you own what you bought unlike perpetual contracts.
My plan is to go from 1000 to 1 million within a year. 3% daily profits.
it is hard
It's possible. If you invested in the spring of 2020 you might succeed. It all depends on the timing. 2008 was also a good year to start. Of course we didn't know it then. It looked pretty bad.
Warren Buffett will come to you for lessons if you achieve that.
That is delusion
Will never happen. You will blow up your account.
I really like how you speak rationally and factually.
Thank you i needed to see this.
Trading is similar to managing your weight. Everyone knows how to do it. Most people dont wana put in the work. They want an easy solution.
@@TrueLeft-n6j you're aware some ppl make consistent money trading right?
Thanks. I feel pumped now.
I used to do day trading, max gain in a day is about 20,000 dollars. However, at the end of 2nd year, my total loss is about 200,000 dollars. Day trading need strict deciplines and self control which most of people lack of. It is kind of anti human. We getting exicited once strock start to rally. The chances of wining in day trades will be decreasing as the number of trades increasing. Thinking about gambling. I decided to quit day trading at start of 3rd year. And my account also start to grow back slowly with some credit spread options trading and long term investment
Was there a specific course or anything that you went off of to learn how to trade using certain strategies?
I totally agree that most if not all of the "trading gurus" on TH-cam are just making their money through selling their courses. And I totally agree that trading isn't easy, BUT it is definitely something that can make you wealthy. It is 100% doable. For every losing trade there is of course a winning trade. The winners are the ones that have the better mindset, patience and the skills to quickly spot and get out of a losing trade. And also know when to close and profit from a winning trade. Its not really rocket science, it's just about keeping a cool mind. All trades are really just a 50/50. Technical analysis isn't something you can rely on, its just a rough guide. The market can go either way whenever it wants. You just need a decent risk reward, and learn not to hang onto your losing trades.
Most day traders fail because they quit. It takes time and acquisition of wisdom to become a profitable trader.
Great video!
This is not true for everyone. If you have a patience mind set, swing trade and keep your limits low you can do just fine. It’s when greed and gambling enter your mind where you can get in trouble. The only problem with day trading are the videos on TH-cam. That is the core of the problem. What happens if you put your money in an index fund and the market crashes like in 2008? You will lose just as much…ETF don’t use stop loses and charge a lot of fees that diminish your return. No investment, ETF’s included are safe…none to the market. If someone wants to study how to do covered calls, which do have a very nice probability of returns, then who are you to stop someone? What are your credentials? Someone who just dumped all your money in a Vanguard ETF and see an annual percentage, which after fees and inflation is not the actual return? You advice is good for maybe a teenager who has a little money to his or her name but mature adults can decide on their own.
In general, in order to succeed in day trading, you need at least three years of daily practice, simulation and screen time. How many of traders do all this three? Probably noone!
I have been through this. During the last 2 months I am making on average 2.05% day in day out with 2 or max 3 trades per session. No red day so far. I have also done it on my other account last year but my performance was around 0.5-0.8% daily that time. I can do even better than 2%.All broker statements are kept and can be presented upon request.
Your assumption is completely wrong because you take into consideration the average day trader with zero or minimal knowledge. The successful day traders amass millions each month.
Day trading ruined me pretty hard. The stress made me drink to the point where 3 years later I got fired for alcohol. Now what do I have left? The futures market and only 2 months of savings left...
Amazing video Karson
Very fair point Karson!
you speadsheet idea is flawed, there is no way you can keep compounding that far with fx. 100x leverage which is what most use is the beginning to make those 1% gains, once you get past a point then the slippage you get from opening up those huge position will eat all your potential profit, most brokers will slip you 1-2 pips more than indicated once you start opening up positions above 10 lots on major forex pairs, doesn't matter if it's cfd's or futures, once you get to 100 lots on a single position then it can be 10 pips in slippage, so infinite compound is not a valid way to think about it, most people with retail access will stop at around 100k and just make 1% on that without compounding further or they reduce leverage and go for less profit which make a lot more sense but will not give you those insane numbers you have in your spreadsheet.
Tim sykes got me into it back in like 2016-2017. Did ok, tihk after like 80 trades i was up $400 bucks after the $10 fee everytime i bought or sold lol. Not for me.
i just started trading its my 2nd month and I'm a little bit of profitable already but i have taken losses and i stopped using all types of strategys and stuck to one and i half to say its going ok i just need to work more on it get my craft right and eventually turn it into a full time job but the main thing i feel like people fail at is pushing yourself to keep going because people go in thinking its a quick way to make bread and be done with it but its more than that its going in and learning and making mistakes because the person who makes the most mistakes knows the most on do's and dont's and knows how to get better with time than rather making no mistakes and never learning from them but it is possible to be profitable and do it dont listen to be saying traders lose this much or traders make this much because they are not u an u are not them this is a jounery u half to be willing to take and make it trough and actually learn instead of rushing Patience is the best word u can have for something like this because if you don't have it then it won't work the way u think.
This was a wonderful explanation. Thank You..
The fact is 99% of people will fail at absolutely anything that requires any kind extraordinary talent or effort. That’s why it’s “extraordinary”.
I’ve been trading now for four years. I became profitable around year three after I studied Mark Douglas trading in the zone psychology. The first two years I lost money because I didn’t have the mindset. I didn’t know what I was doing and I was sold on the get rich quick stuff. That’s why over 90% of traders fail. But if you told me I would be making 8 to 10,000 per month trading and not have a job five years ago I would say you were crazy. Trading is a game of losses. You have to treat it like a casino. You’re the casino if you can’t handle losses this game isn’t for you. It’s not like a regular 9 to 5 job.
Congratz, but I never liked the casino reference. I think it would be more like a casino if a trader was "guessing" as opposed to letting the setups come to them and taking high probability setups with good risk management.
@@down-the-rabbit-hole The casino reference is better. You’re the casino. Not someone going to the casino with no risk management looking to get rich tomorrow and blowing their account that’s not what I’m talking about. The casino knows exactly how much money they’re going to risk. They have rules and they follow those rules. If you don’t like the word casino that’s more of a emotional response. You can’t have emotions in the market.
having % gains as a metric in trading , it's one of the biggest mistake new trader's make that made them lose money instead of making it !
Buying the offer and selling the bid, how is that working out for most new traders😊
What are your thoughts on Swing trading? Holding trades for a few days? Same problem?
Spot on,Great advice
Don't let this discourage you. Most fail because most give up. Most fail because they aren't in it for the right reasons. So probably 90% of the failures are just by default. One percent a day is very, very possible.
The shovel sellers of course always win, as long as demand is there for their courses. Daytrading is incredibly expensive, the high costs alone mean you're almost guaranteed to lose.
Please remember, an annual return of 20% on your capital is already considered elite territory. It's very unlikely you'll achieve this return goal, no matter what you trade and how often.
Markets are so superefficient (no matter if FX or stocks or whatever) that correct price forecasts are simply not possible in many cases !
your explanation is so right !
Swing trading for me is the best strategy. Look for top quality stocks and buy into the dips post earnings.
I love this video and it’s telling the truth about day trading
Thanks for the honest content!
But just the fact that 3% or so even make tell you that it's doable. It's not as if those 3% have a crystal ball or are psychic lol... You also have to be careful, because if you EXPECT to fail or think you will fail, you will fail. Like the old saying says, "think you can, think you can't, either way you are right".
the day trading ain't no joke.. you are so right...
This video is absolutely spot-on empirical, anyone looking to get into trading should fully understand the Dunning-Kruger effect and consider the fact that you are subject to your own self appraisal, which is subject to your own emotion bias.
One of the best traders of all time, Jim Simons, was able to consistently generate 65% per year, that comes out to about $2.00 per day for every thousand dollars. So when TH-camrs claim you can make thousands off just $500, Run away.
Saw a show on tv that followed the top day traders for two years 99 percent loss in those two years but a lot of them crushed before the two years and were all rich!!!one percent will win it ain't how good you are or anything else it is how fast your computer is because the margins all small!but awesome truthful video!!!
How about Ross Cameron
He is legit.
Stock market is operated like a casino, a Stock is similar to a jackpot machine in casino. And there are some watchers that monitor what happen in every single machine .