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/biz/ - Business & Finance

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55474033 No.55474033 [Reply] [Original]

Trading is a waste of time and money for the average dude, right?

>> No.55474241

>>55474033
Unironically, yes. Like with most things, the easier it looks, the dumber you are.

>> No.55474438

>>55474033
>>55474241
I was making bank on Gains Network using my custom indicator, that I created for crypto, to trade stocks at 20-30x leverage. But now they disabled it so I'm fucked.
I just don't have the funds to be allowed such margins on a real stock trading platform.
There is a magical combination to have a 75% win rate in short periods of time with high leverage but I cannot use it. I could long/short stocks consistently well, closing all trades the same day of course.

For some reason I cannot make it work as successfully with crypto. You guys think I could sell the indicator+software to some stock trading company if I provide them with evidence that it works?

>> No.55474465

>>55474033
No but doing it with great frequency may create opportunity costs. Its most likely the other way around. Not trading is a major waste of time and money for the average dude.

>> No.55474485

>>55474033
I think so. Unless you majored in finance/business I feel like the details are just too overwhelming. Active trading is a career people study years for. I plan on sticking to ETFs, mutual and target date funds, and things that track the market. Let it all sit for years and withdraw when I need it.

>> No.55474567

>>55474033
It's probably a waste of time no matter how you spin it since just buy and hold takes so little time you can't really even compare.

>> No.55474612

>>55474033
But then again I do think people exaggerate how difficult trading is and also they downplay the risk of the buy and hold strategy. What if the thing you've been buying and holding for 30 years suddenly goes to 0? You basically just wasted all that time and money for nothing. At least as a trader you hopefully would've made some profits along the way.

>> No.55474654

>>55474612
When you make an account on some legacy broker it says 80%+ of traders lose money because the government forces them to warn you about, i imagine the number is worse in crypto with all the pump and dumps, hacks, etc

>> No.55474673

dca into vanguard from age 20, change portfolio risk as you get older, retire comfortably in your 50s
ta is mystic woo woo for men
crypto is a greater fool scam

>> No.55474704

>>55474654
>80%+ of traders lose money
I'm not sure if that's actually true but it might be. The mistake most people make is they start way too big. They go literally all in on some dumb shit like gamestop, lose all their money and then never trade again. Mostly because they lost all their money but also they're scared of trading now lmao. It's basically the exact opposite of how you should learn to trade which is start with as little money as your broker allows (literally). Some crypto exchanges allow you to place $1 trades. In my opinion that's what a beginner should start with and eventually move on to bigger numbers. But most people can't do that for some reason and they just HAVE TO go all in on their first trade lmao.

>> No.55474706

>>55474673
>retire comfortably in your 50s
no
I will retire by 30

>> No.55474793
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55474793

If manually drawing various lines and fibonacci retracements was actually profitable the simplest possible program would outperform you in miliseconds as soon as any condition was met. In fact even if it was profitable just 51% of the time such bots would make billions instantly erasing all the edge you thought you previously had.

But yeah bro you drawing an MS Paint tier crooked trend line and then one more line on the RSI indicator surely is predicting what's the come with great certainty lmao.
LIterally just astrology for men.

>> No.55475002

>>55474033
The trading industry is full of scammers who want to sell you a course or watch their vids for ads revenue. But no there are serious profitable day traders, it has everything to do with money management.
>>55474704
95% are NOT profitable and lose money buying courses.

>> No.55476171

>>55474485

It truly doesn't matter what your major was, 99+% of finance/business majors would be incompetent because they can't understand the fundamental math or theory nor have the drive/ethic. I.e., if you want to make good money (>1m/annually) youre going to be working more than 60 real hours consistently.