So you are saying to be profitable at daytrading you have to create an algorithm that can compete with the hedge funds...who get favorable fills, and jump to the front of the queue? Good luck with that. And even if you somehow manage that, the premise of day trading is moronic and counter intuitive. It's for traders who have low capital and can't afford to hold over night.
That is not a persuasive factual response. HFT traders by definition have sufficient capital to day trade.
HFT traders usually work in teams. In order to become a member of the team you have to offer a talent that makes the team continue to be profitable or more profitable. e.g. computer programmers that can tweak algorithms in fast times. They are extremely well compensated for their efforts.
Those type of YouTube videos were mostly on how to be a millionaire buying real estates with no money down, i.e., how to get a free lunch?
Just throwing it out there: DAY TRADER Ross Cameron managed to scratch out about 1 mm in the bear market of 2022 while SWING TRADER Kris Qullamaggie lost 25 mm that year.
The problem with day trading is the rule that you have to close the position by the EOD...it's moronic. You close positions based on price, not based on time.
Interesting stat if true. I hate it when at the end of the day, you find out that some big trader losses a whole bunch of money simply when the market is down. It makes you think that the only secret to trading is leverage and stay long and keep adding and pray.