/biz/ - Business & Finance

>>50829066
It will take him years to get good (took me around 4 years before I became supernatural), but the fact he's only trading a 10k account means his head is in the right place. We all have to start somewhere and your friend sounds like an absolute novice idiot and we were all there at one point. All those YouTube videos and gurus are tests. Every novice I think encounters them and tries to follow them. Same with books, podcasts, education courses and all that shit.

The more of it you dedicate your time to, the shittier you get. Eventually experience meets all of that crap though and by some unholy combination, after a ton of false starts, it all starts to make sense. When you go back and read books you were once betting your future on you're just like "holy shit this is trash" but at the time when you were beginning that is what you needed. You needed to be fucked with and misled because surviving that is what makes you great eventually. Turns you into a beast.

I will never forget how much my friends supported me and honestly it is disgusting that you made a post like this because I couldn't imagine what it would be like going through some of those dark times in the learning process without my buddies to joke around with and cover my drinks. If they were just outright pissing on me...man...That would have been brutal. With friends like you, who needs enemies? I hope you just leave your friend now because if he does become a success, it will be really sad if he ends up treating you as well as I treat my friends now when you were a big enough piece of shit to make a post like that.

And if he fails, he'll still be better off without you.

This is the opportunity guys. Start your accumulations on the right stuff with the right size and go away for a few weeks, maybe even a few months, and when you get back, go ahead and buy a car, a house, or several depending on your scale.

>>18075027
Being a successful trader is almost always going to be superior to being a successful "holder." But it's obviously way more difficult to be a trader than it is to hold something while you sit in the corner pooping yourself. Traders can make unimaginable returns on their capital. That's sort of our specialty: efficiency of capital. But again, it's difficult and you probably have a higher chance of killing yourself from the stress of trading than you do of actually ever actually paying your bills with your trading profits.

Your psychology has to be almost perfect to really make it and no one is going into it with perfect psychology. If they think they are, they're in for a treat because the act of trading is going to take you on a tour of the lowest fucking points you will ever feel in your entire existence and the worst part of it all? You might just fucking fail anyway! In an unimaginably slow way you will slowly eliminate and rebuild aspects of yourself that make you a suitable trader. The market will show you every defect and won't let you progress until you overcome it. And every defect you overcome will change you.

Quite frankly, when you choose to become a trader you are absolutely killing the person you were before you were a trader. At some point in the process that person is going to die because who you become will be only loosely recognizable compared to who you were. You will become something else. Something possibly better, but something that won't be able to relate to most of the things in your past life. You'll be alien. Your flaws and idiosyncrasies that made you charming or human to others might be the things making you a bad trader and if you're actively trying to get better, those things will be removed. In the end you're basically like a market specialized replicant.

This is most interesting when you look at your goals before trading. Women, parties, vacations? The goals of a dead man that you'll shake your head at down the line.

>>16384262
Day trading is impossible to do consistently on all U.S. instruments because the markets aren't real per se. If you stripped away the HFTs just passing shares/contracts/whatever back and forth to each other and crushing anyone who trespasses on the game of catch they're having with themselves, the spreads would be enormous and market activity would basically be a fraction of what it is now.

The HFTs exist in no small part to make the market seem a lot more alive than it really is when most participants are corralled into mutual funds and therefore don't really participate, retail traders don't make up a great deal of volume, and institutions have predictable volume once you know what they're trading, what they're hedging, and what their overall bias is which doesn't take that long because they're all usually moving in lock step themselves.

The market would have a very different personality than it does now and you would be able to day trade it if you shut down all the "fake" activity. As it is though, you don't have a prayer. You can picture you and a friend having catch and then a stranger comes into your game of catch so you both wink at each other and either start throwing impossible tosses at them or you just don't throw the ball to them at all, but if the two of you weren't there then there probably wouldn't be a game of catch to play. That's the modern U.S. markets.

This is why everyone buys and holds and dollar cost averages on index funds and ETFs. People WANT to day trade and do crazy shit. They want to make money. They want to outperform the market, but those intraday strategies don't have any actual mass appeal because they don't work vs. the strategies that have worked. If dollar cost averaging and buy and hold didn't work, mutual funds and ETFs would be out of business. They go out of business a lot less than retail day traders which show a probability profile akin to slot machines (95% failure rate or some shit at this point lol).

>>12868234