And another day trader bites the dust

Discussion in 'Risk Management' started by MrRenev, Oct 15, 2020.

  1. MrRenev


    Garage Day Trader was another of these day gamblers flaunting his great success on youtube & twitter.
    He had "a great system" and "only green months". People were saying it was only a matter of time...
    Aaaaaaand it's gone :D All of it. He vanished. Every social account wiped out, every video gone of youtube, he just vanished.

    Some guys such as Garen Phillips, known for his video "How I learned To Day Trade In A Week" from June 2017 at least left their channel up, he even made a video about blowing up 1 year later, then LITERALLY the next day (seriously) he was up 17% risking his entire account aaaaand it's gone he did not post a video in an entire year but at least left his account up and he ended coming back with new goals of course.

    Then you have guys like "In it for the money" a crypto "investor", which is different from day gamblers but not that different, he quit crypto after 2 years, he deleted all his videos about crypto, renamed his channel, but he did leave a video on why he quit and still uploads videos with his new goals.

    Most of those "investors" and "day traders" just fade away, like their account.
    I always enjoy seeing those guys break their teeth on the floor. The cockier they are, the more they argue, and the happier I am when the inevitable happens :p.
    The only day traders that make money are the ones that shoot "lifestyle" videos and sell courses.
    guru and Nobert like this.
  2. zdreg


    The minute you say only or all your statement is false. There are outliers who make money every year.
    ps0013, S-Trader, d08 and 3 others like this.
  3. B4 someone else does...

    ps0013 and KCalhoun like this.
  4. Tradex


    Who told you that?
  5. MrRenev


    Statistics. Looking at the entirety of day traders in whole countries. Looking a porofessionals and retail.
    Never having heard of day trader that got anywhere.
    Sure, I'd be willing to believe 1% of them manage to underperform the market by 90% but I wouldn't call that success.
  6. Tradex


    Can we see them please?
  7. zdreg


    It only proves that you hang out or know the wrong crowd.
  8. zdreg


    What is there to dispute? How many hotshots from the ghetto playground make it to the NBA? Successful one are outliers. That is reality. The same is with traders. Successful ones are outliers.
    S-Trader and Clubber Lang like this.
  9. themickey


    I'd give you a like for the post BUT for one thing, the last sentence.
    I'm anti day trading in attitude similar to yourself, however I believe there will be a small hard core group who can pull it off.
    It takes smarts, discipline, experience and money to set up something and the ability to trade a method the crowd have not even dreamt about. I'm convinced it can be done but not easy and those who do it, they shut their f**ckn mouths, not a peep.
    ps0013, schizo, Onra and 4 others like this.
  10. qlai


    Wait, what? He was trading with like 300 shares. Are you sure he blew up or he just went off the YouTube?
    #10     Oct 15, 2020