Very few people make it "trading" selling courses and signals is another story. I also had very bad situations in 2020 because of huge drawdowns I had which I was down ~50% of my savings. and I was doing this full time (trying to live the dream)
Fortunately, I made a good amount of money by holding some crypto. Now trying to keep self-control when it comes to day trading and leverage.
hmmmm it's an interesting thought, and I see why you think that.
Dropshipping for example as it is advertised is a get rich quick scheme, the same goes for onlyfans lately, around 2% of the people who begin this, are winning enough.
IM is a scam as it is advertised everywhere... I generally HATE the term internet marketing, it's as fishy as it gets and a flashy term.
Digital marketing on the other hand is a skill, which you use to grow your REAL business with it.
For example paid ads, organic reach and selling products/service was always there and you can't consider this as a scam.
So I would say IM is a get rich quick scheme but an online business is... a business, not a get quick rich scheme.
How long have you been in the game and what did you try without entering in details? (ecom, digital products, services)?
I think many will lose Bc of ignorance.
You learn a little arithmetic, (like how to read a chart) and then go off and try to solve calculus. Of course that’ll fail.
That’s how I see most people who trade.
I trade now, I actually stopped everything else in my business, making great gains, but that’s bc right now it’s easy to make money. This won’t last forever and I’ll be out soon and maybe learn and play with a small amount after.
But most will be put back into greasing businesses or long term things like btc.
Of course, most people lose in trading because they don't know what they're doing, they're literally gambling, plus a lot of people blindly follow YouTube shillers or so-called "experts" who largely make money through affiliate links.
I mean you can't expect to learn everything in one month and become profitable... trading is NOT a get-rich-quick scheme and anyone who knows anything about appropriate risk management knows that.
Most people lose in life too, so these responses are expected. I'll just say that anything is possible if you put your mind to it.
Of course, most people lose in trading because they don't know what they're doing, they're literally gambling, plus a lot of people blindly follow YouTube shillers or so-called "experts" who largely make money through affiliate links.
I mean you can't expect to learn everything in one month and become profitable... trading is NOT a get-rich-quick scheme and anyone who knows anything about appropriate risk management knows that.
Most people lose in life too, so these responses are expected. I'll just say that anything is possible if you put your mind to it.
Who says this? Most people know that 95 % of traders don't make money.
Of course, people think it's a quick and easy path and go in with these expectations - OF COURSE, people will fail if you go into any project with that mindset. Building ANY skill takes time and dedication.
That's what course sellers do, that's their job; selling a dream. It's easy to get lost and not know who to refer to for actual, objective advice.
I've probably mentioned where you should go if you're interested in learning to trade in my previous posts though.
Of course, people think it's a quick and easy path and go in with these expectations - OF COURSE, people will fail if you go into any project with that mindset. Building ANY skill takes time and dedication.
That's what course sellers do, that's their job; selling a dream. It's easy to get lost and not know who to refer to for actual, objective advice.
I've probably mentioned where you should go if you're interested in learning to trade in my previous posts though.
Yes absolutely, but this is why I call trading a scam it's because it is advertised like a get rich quick scheme... especially daytrading.
Thanks for the post, but as I focus on my marketing skills now, I will not fall into trading again, it's not for me. It's bad for someone who is addicted to gambling in the first place and I am this type of guy.
Yes of course he is, it's part of this game, everyone say they are profitable and winners. I am not mad at him, day traders are all profitable when you listen to them... I am too by the way, my super system is making me very profitable on demo
In february I got really interested in trading, I was obsessed with the markets and I tried to learn everything.
When I thought I had enough knowledge I opened a Binance account and deposited 1K.
If you've ever tried scalping you probably know what happened next
I lost everything in less than a week
One thousand bananas is really a lot of money for me but even after this loss I didn't want to give up trading. I learned technical analysis and now I'm focussing on the mental part of it (the markets are heavily manipulated and the retail trader basically always loses)
It seems to me like all the information available is just dogshit, in my entire life I haven't met anyone successful in this field and I'm just wondering, is it possible to really make money with this?
This guy on yt seems like he knows what he's doing, but again how do we really know he's making money with trading?
I think many will lose Bc of ignorance.
You learn a little arithmetic, (like how to read a chart) and then go off and try to solve calculus. Of course that’ll fail.
That’s how I see most people who trade.
I trade now, I actually stopped everything else in my business, making great gains, but that’s bc right now it’s easy to make money. This won’t last forever and I’ll be out soon and maybe learn and play with a small amount after.
But most will be put back into greasing businesses or long term things like btc.
First of all, you need $25,000 to be able to do volume day trading in the US. That's one barrier to entry.
But assuming that people reading this are able to come up with the cash, day trading can be a great strategy if you study a couple of stocks or just a small set of stocks.
By “study,” I'm talking about tracking their volume and price movements over a fairly extended period of time—maybe a month or two months out.
And the key here is to look for patterns.
The idea of day trading is to just do all your trades—both up and down—in one day, and close out all your positions, and then move on to the next day.
Day traders are day traders because they know that in the market off-hours, a lot of developments can happen.
Maybe there's news that the company is about to go belly up? Or they just signed an awesome deal?
So when you just leave your money in the stock, the next day that it opens, it could be opening at a very low price, or it could have shot through the roof.
Day trading is all about trading action that you take within a typical trading day.
And most of the action is focused on small movements—that’s how a lot of day traders who make consistent money really earn their bread.
You hear a lot of people talking about how they've made lots of cash overnight with day trading, but those people are few and far between.
And if they were to make those same trades or have the same trading philosophy for an extended period of time, they would eventually lose that money.
That's the nature of the beast.
Focus more on those who play the game in small increments and come out ahead.
Those are the people you should be paying attention to. That should be your strategy!
You really can't get greedy, you know? It’s easy to say, “Well, 1% or 2%, that's chump change!”
Well, if you do that consistently, you're on to something because remember, there's more than one day on the calendar.
On the other hand, if you see somebody making tons of cash one day, that's usually followed by a disastrous crash in the coming days.
So focus more on knowing how to identify trading trends on the stocks that you are specializing in, and then ride them up and down during the space of a day.
That's how you meet your targets.
It can be several percentage points; it could be more modest.
It doesn't matter, as long as you're disciplined.
And another thing to keep in mind when it comes to day trading, as far as I know, and based on what my friends and I have experienced, is that you can't get greedy.
There are times when a stock performs way better than the few percentage points that you initially planned to sell on.
So let’s say you buy a stock, and it goes up 5%; your initial plan was to sell it at 2% or 3%, but it goes up to 5%. Then it starts going up to 10%.
If you're not careful, you can get really greedy and just ride the whole thing and then have it crash and end up burning you.
This does happen.
The same goes with selling short, where you make your money when the stock price goes down.
So if there's any one person that’s really getting in the way of day trading success, it would be the trader himself or herself.
hmmmm it's an interesting thought, and I see why you think that.
Dropshipping for example as it is advertised is a get rich quick scheme, the same goes for onlyfans lately, around 2% of the people who begin this, are winning enough.
IM is a scam as it is advertised everywhere... I generally HATE the term internet marketing, it's as fishy as it gets and a flashy term.
Digital marketing on the other hand is a skill, which you use to grow your REAL business with it.
For example paid ads, organic reach and selling products/service was always there and you can't consider this as a scam.
So I would say IM is a get rich quick scheme but an online business is... a business, not a get quick rich scheme.
How long have you been in the game and what did you try without entering in details? (ecom, digital products, services)?
I've been in and out of the IM game for years. My best success was with some random fake key generator site that made me over $50,000. I still can't believe to this day how simple things were back then. I literally threw together some crappy site and spammed it with low quality links and BAM! ranking number 1!. Of course, that died out. Since then I've been making a little here and there but nothing serious as SEO has gotten increasingly difficult.
I've been in and out of the IM game for years. My best success was with some random fake key generator site that made me over $50,000. I still can't believe to this day how simple things were back then. I literally threw together some crappy site and spammed it with low quality links and BAM! ranking number 1!. Of course, that died out. Since then I've been making a little here and there but nothing serious as SEO has gotten increasingly difficult.
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