How are the wallstreetbets guys so successful?

[NewTraderAdventure]

Why waste time with tsla

puts on the s&p , and the noob would not have to post his after the fact gibberish here, he'd own an island

 

[NewTraderAdventure]

for every successful WSB poster their are 10,000 that are going broke. But they have balls and take risks which IMO is essential to success in any form.

you exaggerate

its only 9999

 

[Trade Theory]

I have never in 2 decades of following this stuff seen such consistent, huge profits from a group of traders like this.

The internet is a massive massive place. People love to post profits, not losses. For every one person that 20x their account, 20 people blow up their account.

Although you can trade ITM options very successfully resulting in mass profits if you're a good day trader.

 

[tsznecki]

I'm pretty certain Robinhood has no sim/paper trading...

 

[Genevian Speculator]

I have bought OTM options too and made money from it, but I knew Cirona was coming since early February vecause I knew how hard to detect it was and thought it was only a mattwr of time before the drops. Otherwise I would not do that.

 

[Pekelo]

The internet is a massive massive place. People love to post profits, not losses.

You are clearly unfamiliar with WSBets. Plenty of Loss Porn there.

But otherwise you are right, out of thousands of posters, there have to be a few dozen big winners. WSBets is the fastest growing subreddit.

Also the wisdom of the masses. WSBets as a collective is actually pretty smart. Just like ET, if you know whom to watch you can find gems there.

 

[kpercent]

Most of those posts are real. You don't need to fake gains, for every 1000 failed YOLOs one is bound to succeed.

 

[zghorner]

Most of those posts are real. You don't need to fake gains, for every 1000 failed YOLOs one is bound to succeed.

"It doesnt matter how many times you fail, you only have to be right once" - lots of mega rich people.

 

[Same Lazy Element]

"It doesnt matter how many times you fail, you only have to be right once" - lots of mega rich people.

The problem is that failing is not free. You buy a lottery ticket enough times and you will go bankrupt. True both in markets (options are expensive) and in life (higher payoff has a lower probability of happening and time is the most expensive asset out there).

That’s why, btw, most “mega-rich people” come from already rich or at least “not poor”. They can try, fail and still be okay.

 

[zghorner]

The problem is that failing is not free. You buy a lottery ticket enough times and you will go bankrupt. True both in markets (options are expensive) and in life (higher payoff has a lower probability of happening and time is the most expensive asset out there).

That’s why, btw, most “mega-rich people” come from already rich or at least “not poor”. They can try, fail and still be okay.

no failing isnt free but not a lot of things are...and what better educator is there than failure?