Who are some LEGIT Retails that "made it"?
- Thread starter zghorner
- Start date
Now you're talking someone like @Rams Fan
But even David Ryan has abandoned pure Canslim Trading, as has Sean and Zanger etc.
What deviations have they adopted?
Sean Ryan and Zanger are pure TA. David is more like Minervini. If you read David's stuff, while he credits WON, he isn't a pure Canslim anymore.
Big respect to those guys...there is a lot that goes into becoming a billionaire that is worthy if praise. But, They think like billionaires and relate topics like billionaires. Im not interested in becoming a billionaire.
Millionaire has a nice ring to it, so for the scope of this thread let's omit all billionaires and focus on how the millionaire traders think and act.
I've got all Minervini books, WONs, Weinstein, all David Ryan, Quallamaggies Zangers YouTubes etc.
They all started using a Canslim approach. But Minervini trimmed down the FA as did Technology.
If you look at Quallamaggies, Zanger, Minervini, Sean and David Ryan etc, they are more TA now than WON.
Technology may have made Canslim more outdated. Which is ironic, as WON was one of the one's to do it with IBD/Marketsmith.
to clarify my definition of A legit retail trader who has made it: Someone who started trading without EVER working in the financial field professionally and acquired millions of dollars via trading.
I ask this question because I think these guys are always ignored in favor of: PTJ, Cohen, Schwartz, Destriero (), etc...and this is only natural; there are more books written about Michael Jordan than 2nd or 3rd stringers who barely played (yet they are still a massive success in the grand scheme of basketball).
I have come to the conclusion that the overwhelming % of profitable "retails" fall under 2 categories:
1. They were professionals within the financial realm for years before doing their own thing. These people spent a decade or better in the professional world being mentored and disciplined by real OGs...discovered their niche/edge...and simply exploit it on an orderly basis as an independent "retail". the majority of your profitable traders come from this category...good luck taking money from these guys.
2. They made their money in some other business and can only afford to trade big because they are literal millionaires before even starting. This is more common than you might think...they did not become wealthy via trading. "Im a millionaire trader"...but they were millionaires before even opening a brokerage account.
the fact of the matter is...if you are a retail trying to build your fortune VIA TRADING...the odds are so incredibly stacked against you it is painful to discuss. I would venture to bet that the 95% failure rate for traders is low. actual noob retails with no prior knowledge of the industry starting out with their get rich dreams of making it in the market...99.9%.
So, I ask for some examples of legit retails by the above definition to study out of curiosity.
thanks.
ICT - Inner Circle Trader aka Michael J Huddleston fits that bill.
He currently has a cult following on Twitter and released a ton of free content on YT. He makes live calls fairly regularly.
He has a bunch of students whom done very well and they haven’t been financial industry insiders.
He also has a ton of critics. As a devout Christian, he has as acknowledged his bi-polar handicap but claims his OCD is what supported him in his success. He study Larry Williams early in his career and has developed his own language to communicate his concepts. Much is rebranded but much is also fairly unique to his perspective.
Trader Roundup aka ICT_Concepts, as a twitter space, generally hosts many of the devotees of the method.
Then you also have a bunch of crypto bros on crypto Twitter that have made bank.