How did the myth of traders get started?
It's a well known fact that it's impossible to consistently make money trading, so how does the concept of a 'trader' even exist in the first place?
How did the myth of traders get started?
Connor Martin
Henry Bennett
People can go on lucky runs for years before it all comes crashing down. It only takes 2 or 3 really good trades before people believe you're an amazing trader, and people want to believe because it means they could be an amazing trader too.
Carson James
its a scam perpetuated by exchanges to hook people in and get them shuffling their money around for income via fees
Leo Hughes
unironically this
Justin Hernandez
Cryptocurrency exchanges created George Soros?
Ian Rivera
>It's a well known fact that it's impossible to consistently make money trading
expect its not a fact is it you daft cunt. reminder to sage and ignore retard threads
Carter Reed
Name me one person who's consistently made money trading.
Leo Wood
A trader is the same thing as a speculator. A trader makes money off of other peoples work. Everyone here is a trader. The ones that make 1-5% every few days are the successful ones. But for that to work you need discipline, patience, capital, and a plan. Traders need anywhere from 10 to 50k to make anything worthwhile. DESU. Smart money will only make a few trades a year. They will buy the absolute bottom, hold until their price is reached sell, and then wait until the next absolute bottom. This way it creates way less taxable events, and this strat is actually in your favor if are dealing with large amounts of capital.
Parker Fisher
Trading like playing competitive video game.
Only 10% of players ever make it out 50% win rate.
Most of that 10% only manage 52% win at most.
But that 52% win enough for get you Diamond League, Gladiator, Global Elite
That 52% can also earn you great living if trader.
Now there .01% of gamers who manage 60%+ win rate. That rate enough for get you into pro leagues.
Traders with 60%+ are billionaires.
Joshua Cooper
>Traders with 60%+ are billionaires.
That assumes they can scale their method.
Luis Wilson
What's the trading equivalent to creating a smurf account with 95%+ winrate?
Zachary Smith
>tfw 10%
Trading here I come!
Xavier Allen
>Silence
Kek. I think you won OP
Elijah Thompson
How are you this retarded
Ryan Scott
If you understand risk asymmetry you'll find most traders (in derivatives) lose a small, limited amount 95% of the time. That other 5% is an absolute killing.
Read Nassim Taleb's books and watch the big short
Aiden Campbell
Paul Tudor Jones and Ray Dalio, depending what you define as trading
John James
These 'famous traders' are fakes created by stock exchanges to encourage trading.
Jason Foster
you got some proof there bud?
Jose Rodriguez
this guy gets it
Samuel Kelly
Yes my proof is that consistently making money trading is not possible, ergo they're fake.
Oliver Sullivan
Chinaman duh
Christian Cruz
they are successful because they have inside information.
like playing a game with a cheat code,you always win.
Jace Carter
But you specifically said they are 'created by stock exchanges to encourage trading' have you got any proof of that?
Then we'll discuss the impossibility of making money by trading and if those guys count as trading.
Brandon Morgan
Wrong.
Luis White
not 'silence', no one can be fucked replying to the same thread every single day
forex.info
>what are investment banks with trading desks
kill yourself please
Joshua Bailey
im sure youre gonna convince someone with these circular as fuck arguments lmfao
Easton Jenkins
>thinking about taxes when trading
NEVER going to make it
John Garcia
investing in crypto
Lincoln Richardson
kek the absolute state of Jow Forums in 2018
psyop'd into thinking its impossible to trade
i bet none of you use stop losses either
Ryan Gonzalez
>using stop loss
Connor Barnes
I never use a stop loss order.
Evan Roberts
stop losses are literally retarded, if you do it on the exchange they can calculate how much they need to spend to shake you out if need be, and you know they got shadow APIs to private firms doing this exact thing if they aren't in on it themselves.
Carson Adams
me
i went from scraping up $4,000 up to $800k and back down to $260k. still fairly comfy.
Andrew Cruz
literally all you have to do is buy the fucking dip then sell higher with a stop loss you fucking fool.
Sebastian Sanchez
How'd you get there in the first place? Consistent small % gains or 10x moonshots on low cap shitcoins?
Bentley Walker
It's hard but not impossible. For example brokers have data showing about 5% of traders win and 95% lose. I personally have from forex only 4 year positive data with max draw down less than 2%, leverage used 2-4x and 10-30 positions open per se
Intraday I dont believe there are any profitable retail traders after spread in forex at least. Stock market there might be quite a few
Adam Edwards
If you are trading on that edge that somebody could clip your stops you would be losing anyways
Kevin Adams
i sometimes end up waiting 4 weeks just for a 3-4% gain.
the problem is retards here aren't happy with that and want 10% every 4 days. that's when they get impatient, start making mistakes, lose money then go to Jow Forums to say "making consistent money trading is impossible".
seethis guy is so retarded that he doesn't realise basically everyone in crypto is making money trading atm, except for himself because of his room temperature IQ.
you have to take into account the dunning-kruger effect and cognitive dissonance. 50% of the people in the world are dumber than the other 50%, the problem with the dumber side is that about 40% of that 50% thinks they are part of the smarter side and will never be able to see themselves on the hierarchy because of the dunning-kruger effect. they are also under the illusion that just because they struggle to figure something out, that others struggle to figure it out as well. the truth is, they just aren't very intelligent, extremely lazy, or both.
Logan Diaz
>tfw 70% winrate with doomfist
I-I can be a billionaire?
Adrian Jones
No, because you still play video games you fucking loser
Jose Morgan
It's another "I'm too stupid so it must be impossible" threads
The financial version of incels
Matthew Mitchell
Based user, what are some good sources to read for people who want to start trading a bit more?
Luke Rivera
It took me roughly 13 years to get profitable around 90% of the year. Not a joke. I know what the hell I'm doing now but for anyone with only a few years in you're braindead for thinking its going to happen in any short amount of time. OP you're living on another planet.
Liam Barnes
Win rate in trading is easy to get into 85% range, even in forex. Meaning your trades 85% are profitable. But you could still lose money on that. However most people are traditional trend followers, with win rates 20% range, thinking they can lose constantly small and then win big, this is even more hopeless strategy. Stats show most profitable retail traders win rates are between 55-to 70%. Pay out ratio in that case probably close 1 to 1.
Charles Edwards
No its not easy. Stop being a degenerate.
Isaac Rivera
Fuckheads like this spread lies and wave the carrot on a stick. Thats a stupid picture.
David Hughes
probably all the guys on this forum unless they are all larping
elitetrader.com
twitter.com
probably this guy if he is not larping
and many more
Kayden Peterson
This isn't about people clipping your stops, but clipping a big pile of stops around the same range. And don't underestimate the sentiment analysis that can be done when you see where all the morons put their stops at.
Jayden Garcia
Then let's say video games area good example, starcraft known for small margins. Pros 55% win rate can be considered good, but when they play public league (ladder) they can achieve 100wins 2losses win rate 98%. like Scarlett just did in american ladder. In professional gsl league her win rate would be 55-60. So the difference in vidya world between Professionals who actually play for salary, and high skilled amateurs is huge.
Jeremiah Walker
Stats show more than half of PROFESSIONAL FUND MANAGERS fail to consistently beat the market. I have doubts about your stats that suggest retail traders are somehow better.
Jackson Hill
13 years oh my fucking god you are retarded
Robert Rogers
Cryptocred twitter/ youtube
Gavin Sullivan
First of all these are stock pickers statistics. Not forex hedgers etc. Secondly fund managers dont try to beat the market they just follow it and gather comissions. You are more likely to stay in your job that way than risking it. Last but not least trading 10 million is easier than 100 million, basically even the best japanese retail traders get only market returns after they trade over 100m capital
Nathaniel Martin
RUDEFAG
Joseph Brooks
>with infinite internet resources and the ability to paper trade, i managed to lose money consistently for 13 years.
Retard lmao. I have been trading since last year and have a 100% hit rate.
Dylan Cook
Bernie Madoff 8% a year for 30 years
Luis Baker
lol my success rate in crypto is 100%
Don't buy shitcoins and never sell at a loss. Everything good moons eventually
Wyatt Allen
You're lying
Nathaniel Davis
I can tell you're a broke sorry fuck just by the way you write