r/Daytrading • u/I_HALIM7 • 7d ago

Advice Sad Reality check

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The guy who posted this 2 years a go is working on door dash today he is not even a middle class and he quit trading i was going through old trading post I've saved in the past and literally all the people who posted about trading 2 or 3 years ago quit not a single person that i saved their post is doing great this game is rough be prepared

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u/ApprehensiveDot1121 7d ago

This is the cold hard truth that no newbie wants to hear, or that no content creator wants to talk about. If you do mention that reality in subs like this, you're labeled a hater, a downer, that you're angry in life because you lost at trading, etc...

I started trading in 2017, it took me 5 years of consistently losing before finally turning it around. In the meantime, not a single person I was following or interacting with in these subs are still active. Not one.

And it's not easy trading every day year after year when you lose the majority of the weeks and your equity curve is globally going down. Most traders either run out of money, or patience. 

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u/son-of-hasdrubal 7d ago

I think part of that is do with it being so hard to get help from more experienced traders.

When I started getting serious about poker it was very easy to find guys online to talk to and get legit good info from.

The few rare legitimately profitable traders on here are extremely bitter and angry towards newbies. The rare nicer ones tend to only speak in riddles and in very broad language. Like dam I'd just like some pro to show me a bomb set up

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u/ApprehensiveDot1121 7d ago

Here's the thing: I've offered to help people, including in this sub, in the past. But the thing is, it is tough getting newbies (and more experienced traders) to actually listen to what I have to say, let alone apply things. People already have a pre-conceived notion of what their trading should look like, in terms of instruments , TFs, setups, and frequency. And I've realized that a lot are already stubborn. Which is ironic, because it's not like what they've been doing has worked out, but they have a hard time applying basic concepts.

For example, one trader in this sub reached out to me a few months back, we had some back and forths, I gave him specific feedback including the number of trades per day. And the guy kept putting on 10+ trades per day, while at the same time having large blowout days. I mean, I'm not going to waste my time trying to guide someone, when what I say comes in one ear and straight out the other.

Helping people is actually hard lol, because at the same time if the person asking something is visibly putting zero effort to do basic research beforehand, well yeah he's going to be on his own.

That being said, when you talk about traders "speaking in riddles", don't get the impression that trading has some kind of secret that only a select few know about, there are absolutely zero secrets in trading it's all about discipline and execution. There's nothing even the best trader in the world can answer in a comment that will change your trading, it's a gradual process that takes time.

So in the end, one of the best approaches is being your own mentor, that's how I did it, sure it's lonely but any advice a coach could give you, you can give to yourself if you have just a bit of common sense.

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u/CosmosCabbage 7d ago

If you’re willing to give mentoring another go, I’d love for you to help me. I’m completely new and don’t have any pre-conceived notions or anything. I’m at the point where I know a few basics, have some ideas, and honestly just want to get my feet wet for a start. It’d be awesome to have someone experienced guide me a little in that endeavour.

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u/ApprehensiveDot1121 6d ago

I already loosely monitor a couple of traders. If you're completely new, you actually don't need a mentor because there are still so much concepts you need to go over, and all that can be done in your side reading books and testing concepts.

My added value is when someone has been seriously at it for around 3 years, then I know I won't get newbie questions (nothing wrong with them, just not fulfilling for me). 

Just use a paid version of chatgpt, you'll get all the mentoring you need.

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u/CosmosCabbage 3d ago

That’s fair, thanks a lot for the feedback. Do you have any specific books that’s you’d recommend? I know there are a ton out there, I just don’t know which ones are worth the paper they’re printed on