If someone had a good job and was going to live in the same area for the next 10-20 years this is what I would tell them... Wait for a recession. Find the worst house (in a better neighborhood) to buy. Make sure it is structurally sound (only needing cosmetic work...Painting, landscaping). Buy it, fix it up yourself (with friends and family...When you/they have time). If you are over your head in some area of repair...Hire a pro to do those parts. At work, fund your IRA, 401k-403b plan to the max...Some type of total index fund. Keep a 6 month reserve (money/money market fund) for emergencies. Play with 5-10% of you extra money with the market if you wish... Safe and boring...Grow assets while hardly looking at the market!! PS No trades should be naked for the first 10 years of trading...
Hello Cabin1111, This is the most horrible advice I ever heard in my life. No-one in America or the world will follow this advice under the age of 50 years old. No one in America will follow your advice because you use these words below in your advice. "next 10-20 years" ------Everyone is trying to get to $1million in 1 to 5 years, waiting 10 to 20 years is done and over with. WE READY TO HAVE FUN NOW. "Buy it, fix it up"------Where will I get the $300,000 from cash to buy a house to fix up? No 9-5pm working full time American have under the age of 60 years old have $300,000 cash in their savings account free and clear. "fix it up yourself"------When will anyone have to time to fix up a house, the average American making above $60K a year, works 50-70 hours a week. 40 hours a week died along time ago. Who wants to work on houses on the weekend? "Wait for a recession."----- What is a recession? How does that look? Shit, I probably laid off from work when that recession happens. "Safe and boring...Grow assets while hardly looking at the market!!" No one under the age of 50 years old wants safe and boring. People want to be rich man, not rich and no fun at 68 years old retired. "PS No trades should be naked for the first 10 years of trading"----- Wrong, all trades should be naked until rich. If less than 50 years old, gamble on everything until rich. If you live in the America the harsh reality is you have to DO EVERYTHING, Gamble trading risk it all to have it all, AND slow people investing 401K SP500 index, buy real estate if you get rich fast enough. Poor people bet on 401K and the get to age 70 years old and die. ES Futures market clicking is the only way to get rich quickly, legally and options too.
LOL Problem with a gambling get rich quick mentality, it overlooks the game being a long game and one must learn the rules of the game before thinking they'll get rich and lucky.
One guy I can recommend (if you can't hack quant finance - not judging) runs the channel called "GTC Traders". He's a legit dude. I used to watch his stuff on his old channel long time ago.
Yes, Iman Trading. One of the few I listen to on the regular. He's little annoying at times, but he largely focuses on why this is so f*ckin' hard and what you can do about it. I also like Futures Trading Journey of Robert Anderson - YouTube He did try to go the route of the FURU and briefly sold a Ninjatrader trading bot that is never ever mentioned anymore. I don't use his system or approach, but I like him because he's been pretty honest about how f*ckin' hard this is. I didn't start to get profitable results until I stopped chasing systems and started focusing on why this is so f*ckin' hard and what I should do about it.
And if they did have the time, they'd not be worth our time. Of those who do create trading content for yourtube, about 99.99999999999999999999999 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999% of them are failed traders. But about .0000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000% of them rake in six and seven figure youtube incomes from the sucker fish who watch their garbage. I watch only two trading related youtube channels. Both are open and honest regular guys who are open and honest about the struggle being real. Both have chronicled their journeys from losing trader to profitable to the point of having taken multiple prop firm payouts, but both will tell you they are far from being profitable enough to leave the work-a-day world behind and live off their day trading prowess. Robert Andersen did quit the prop firms and is now trading a very, very small personal account. His goal is to trade for a consistent $1000/week in profits to supplement his eventual retirement. He is still an active homebuilder specializing in modular and prebuilt homes, I believe. I want real people doing the real thing and keeping it real on my youtube feed. I do watch an occasional documentary if I find one. For example, I do watch for new takes on my hero, Navinder Singh Sarao, the Flash Crash trader. Almost every youtube trading related video could be flushed and humankind would be better for it.
There are no shortcuts to improving your discernment. Only experience teaches. AHA’s happen in flashes. With that said, there’s a lot of great content on youtube, and as others have pointed out, lots of not good at all.
Well I have been following someone in options trading now. I am getting some results like 1 to 2% growth per day or sometimes less. Just following his siganls.on a specific options broker U can't make make 5 to 10% daily though its unrealistic