Well said ..
Beware of so called “ Professional Traders”
- Thread starter Innervoice
- Start date
Well said ..
Find your modus operandi. I'm rubbish with stocks, but do well with index options. However while I can tell you what trades I took in 2003 and I was profitable, I had little idea about trading. I understand options and I understood the mechanics of options, but nothing comes close to seeing trades go against you. 2020 I was warning others how flippant the MSM were about Covid, while ignoring my own risk profile. Lost around 20% but who could have traded it well? It was a random wild ride. So, in 20 years of serious trading I've had 3 losing years where I got my butt kicked -2 of those I recovered quickly from. I believe there are times when staying humble keeps you calmer for those troubled times. It's never ok to boast about the result of luck.
I've been trading stocks for years and the secret imo is have a very large and stringent filter system.
There's around 2500 stocks on ASX and imo less than 100 are worthy of going long, I have about 60 on my watchlist which are worth swing trading. (not day trading.)
That's about 96% of stocks are problematic imo.
The problem with many stocks, either they are sluggish or they come out with too many negative surprises and suddenly dump.
Then others which are unpredictable, they move randomly.
Another trap to watch out for is getting suckered into dummy moves, happens a lot.
I only trade fun penny stocks -the rest can go and do one!
Yes, for some odd reason bragging will always come back to bite you.
Well they don't impose any risk as nobody would follow or listen to them in the first place.Beware of unprofessional traders too, lots of those around here!
But there are many so called professional traders on social media.
Their often individuals who pretend they're very smart and can pull a very large audience due to their charisma, energy, likeability. Meet Kevin, Stock Moe etc.
Ofc, time itself often reveals...
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I remember this Meet Kevin guy. He used to have some more funner videos when he was actually trading sim.
Now that we went into the real world and lost 420K trading live in something he knew would fail but did it any way, he is eating humble pie.
But no worries, he made it all back in profit with his fucking Youtube channel. So he learned no lesson. He will never be poor, because...Youtube.
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Social media people don't care....they would literally film themselves getting shot in the foot ....if that meant a ton of people would watch, they would gain subscribers and fame, and ad revenue and sales and money.
You have to be a slimy individual, and sell your soul, if you want to succeed on social media. And most human beings are, already.
That's true. He can still be living at $2000 hotel rooms in vegas and snorking coke everday just off his YT subs.
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