Reality of Day Trading

S

smallfil

Too many traders dream of turning that $1,000, $2,000 or even $5,000 into a cool million in no time flat. Before, I burst that bubble. Just watch this video of Humbled Trader tell it how it is. No BS, just how daytrading works and how much you can realistically, make or lose day trading. Whether you day trade or not is your decision however, know the risks and not only the huge rewards you dream up in your head.

 
Not endorsing her but, merely pointing out what she said in the video which I think is very true. Do not even daytrade myself. I only swing trade and trend follow.
 
Most YouTube videos act as advertising for someone/something, but may contain useful tips. Otherwise you can spend millions of hours watching videos that do not advertise anything and see how many tips you’ll find there.

Though this one was so so, not much substance actually. She talks a lot to stretch the recommended video length for YouTube algos.
 
I think the value is knowing about the risks vs reward contrary to most so called day trading gurus preaching how easy it is to make $1,000,000 with just a small amount of monies say $1,000 or $2,000?. Her blowing up her account makes the risks real.
 
smallfil said:
Too many traders dream of turning that $1,000, $2,000 or even $5,000 into a cool million in no time flat. Before, I burst that bubble. Just watch this video of Humbled Trader tell it how it is. No BS, just how daytrading works and how much you can realistically, make or lose day trading. Whether you day trade or not is your decision however, know the risks and not only the huge rewards you dream up in your head.
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You are wasting your time trying to convince traders that they are doing things wrong. Just like I'd be wasting my time trying to convince you that your biases are incorrect.

Let traders do their thing. They'll figure it out soon enough. No one here is going to change their thinking because of what you or I post.:banghead:
 
So, let me get this straight.

She took a 60k account and doubled it in a month??!?!

Is that possible unless you're taking on massive risk which is akin to gambling not
serious trading?
 
VEGASDESERT said:
So, let me get this straight.

She took a 60k account and doubled it in a month??!?!

Is that possible unless you're taking on massive risk which is akin to gambling not
serious trading?
More...


This is nothing. I see guys making $300K in a day sometimes, others make 1000% in a month. Have you used Twitter recently, or ever? Do you even realize there are millions of new traders and only a few thousand stocks?
Right now there are hundreds of $billions of new money in the market, all targeting just a small number of stocks. Tape reading works again, especially for smaller stocks since millions of new traders don’t know how to hide their orders. Pumping and dumping also works.
None of them would make money if there were not many other traders, like last year. Now when a decent trader tweets something, there hundreds of retweets and a million people buying the same thing. People made tons of money in dotcom era and no one questioned that, so why question the same thing going on now?
Obviously most people still lose, possibly 99% that trade penny stocks.
 
guru said:
This is nothing. I see guys making $300K in a day sometimes, others make 1000% in a month. Have you used Twitter recently, or ever? Do you even realize there are millions of new traders and only a few thousand stocks?
Right now there are hundreds of $billions of new money in the market, all targeting just a small number of stocks. Tape reading works again, especially for smaller stocks since millions of new traders don’t know how to hide their orders. Pumping and dumping also works.
None of them would make money if there were not many other traders, like last year. Now when a decent trader tweets something, there hundreds of retweets and a million people buying the same thing. People made tons of money in dotcom era and no one questioned that, so why question the same thing going on now?
Obviously most people still lose, possibly 99% that trade penny stocks.
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but she's using technical analysis, chart trading.

sure, i could have bought kodak and doubled my account but thats not exactly
business like trading. I could have also been down 50% in 7 minutes.
 
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