Did anyone make a lot of money this year? This trader said he made over a million from 50k...

Discussion in 'Trading' started by dtryan, May 30, 2020.

  1. dtryan

    dtryan

    Is he legit? His youtube channel is takeprofitsalways
     
  2. traider

    traider

    I made a 10 million. But I started with 1B
    anyone can claim anything on the internet
     
    comagnum and David's faith like this.
  3. guru

    guru

    It's possible, but if you didn't follow him every day to witness this, then you won't be able to tell.
    I'm following one guy on Twitter who turned $1K into $1M in the last 6 months, and I believe he is legit. Thousands of people see his trades and videos every day, and no one's complaining.
    I'd also believe it simply because recently there are millions of new traders with a portion of the $2 trillion stimulus to spend, and lots of money is being made (and lost).
    I mean, if this wasn't even possible then all of the history of trading would've been false, no one would care for trading, and this forum wouldn't exist. No one would be here if they never heard and believed that any successful traders ever existed. While if they did in the past then there is nothing stopping anyone to be very successful today.

    Basically I think it must be possible for exceptional traders to exist, and I can believe some. But I'm not sure whether there is a reason to verify any specific claim. Maybe this guy did it, maybe another one. The odds are one in a million, so you don't stand a chance of repeating this. But you can follow any traders that are consistent and still learn.
     
    Last edited: May 31, 2020
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  4. What's this guy's twitter name ?
     
    coplii likes this.
  5. guru

    guru


    CamTheMan @StocksThatGo
     
    qwerty11 and TickSeeker like this.
  6. guru

    guru


    Btw, I suspect that he is following a few other big traders who tweet some stocks on StockTwits, and they all buy and talk about (promote) the same stocks, which then are bought by thousands of their followers as well, thus creating the pumping effect, like old penny stock newsletters did. Those stocks/companies also issue some fluffy press releases, so everyone notices and trades them at the same time, including prop firms. And of course most people lose for the few to make money. But I think a few people have the skill to profit consistently.
    This guy didn’t have many followers and wasn’t known a year ago, but was able to pull this off. Now his account size is too large for trading penny stocks, so he is getting into large caps that are more risky. Though as long as the Fed is pumping the stocks as well, the profits will roll in.
     
    DallasCowboysFan and Fx-Game like this.
  7. Turveyd

    Turveyd

    Millions of traders someone will click with market movement and make a huge profit.

    Will he be greedy want more and give it all back is the question.
     
    Laissez Faire and guru like this.
  8. Fooled by randomness?

    Anyone making that kind of return is likely to

    a) use very high leverage

    b) be very lucky

    With a large enough distribution of traders that's bound to happen and what's eventually likely to happen is that he loses it all if he continues putting his money at risk. You don't hear about the other traders who actually blew it all.

    Of course, there's the possibillity that he actually knows what he's doing. After all, it is possible to generate very high returns from trading. Hence why it attracts a lot of people in the first place. :)
     
  9. maxinger

    maxinger

    he is a swing trader / investor.

    I am sure there are people who managed to earn tons of money
    as movement has been very huge this year.
     
    DallasCowboysFan and Atikon like this.
  10. Grantx

    Grantx

    He could be legit but then why sell a course? That's the part that always gets me. If you are that successful you would be sitting there printing money day in and day out.
     
    #10     May 31, 2020