How did the myth of traders get started?

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?

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forex.info/10-richest-traders-in-the-world/
elitetrader.com/et/threads/best-country-for-trading-tax-efficiency.189932/page-34
twitter.com/peterlbrandt/status/994221046034153472?lang=en
twitter.com/SFWRedditVideos

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.

its a scam perpetuated by exchanges to hook people in and get them shuffling their money around for income via fees

unironically this

Cryptocurrency exchanges created George Soros?

>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

Name me one person who's consistently made money trading.

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.

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.

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>Traders with 60%+ are billionaires.
That assumes they can scale their method.

What's the trading equivalent to creating a smurf account with 95%+ winrate?

>tfw 10%
Trading here I come!

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>Silence
Kek. I think you won OP

How are you this retarded

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

Paul Tudor Jones and Ray Dalio, depending what you define as trading

These 'famous traders' are fakes created by stock exchanges to encourage trading.

you got some proof there bud?

this guy gets it

Yes my proof is that consistently making money trading is not possible, ergo they're fake.

Chinaman duh

they are successful because they have inside information.

like playing a game with a cheat code,you always win.

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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.

Wrong.

not 'silence', no one can be fucked replying to the same thread every single day

forex.info/10-richest-traders-in-the-world/

>what are investment banks with trading desks

kill yourself please

im sure youre gonna convince someone with these circular as fuck arguments lmfao

>thinking about taxes when trading

NEVER going to make it

investing in crypto

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

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>using stop loss

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I never use a stop loss order.

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.

me
i went from scraping up $4,000 up to $800k and back down to $260k. still fairly comfy.

literally all you have to do is buy the fucking dip then sell higher with a stop loss you fucking fool.

How'd you get there in the first place? Consistent small % gains or 10x moonshots on low cap shitcoins?

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

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If you are trading on that edge that somebody could clip your stops you would be losing anyways

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.

>tfw 70% winrate with doomfist

I-I can be a billionaire?

No, because you still play video games you fucking loser

It's another "I'm too stupid so it must be impossible" threads

The financial version of incels

Based user, what are some good sources to read for people who want to start trading a bit more?

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.

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.

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No its not easy. Stop being a degenerate.

Fuckheads like this spread lies and wave the carrot on a stick. Thats a stupid picture.

probably all the guys on this forum unless they are all larping
elitetrader.com/et/threads/best-country-for-trading-tax-efficiency.189932/page-34

twitter.com/peterlbrandt/status/994221046034153472?lang=en
probably this guy if he is not larping

and many more

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.

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.

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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.