I know one guy on here that turned low 5-figs into $5MM over a few years. I’ve seen the account in real-time. He’s in his mid-20s. I’m not going to divulge his handle but he’s in chat when not traveling.
What isn’t true? That sounds like an investment and not a trade. Exactly what in my post did you disagree with as you seem to be repeating my message?
the specific part I quoted: the last two years were the only two good trader years. who cares what’s investing vs what’s trading. the grocery store doesn’t care. If buy and holding apple produced a 1mm fortune then surely all the swing traders, chart readers, day traders would outperform that (not counting the leverage they could employ).
I know, funny sht when you get some space from it. However, he does have live results but one has to dig, he also has some epic fails. I'm more troll now but his content still fits the bill of the thread. Last I checked his lives still pull ~5k views which isn't too shabby and some of his top students have receipts. One has to wade through ~30ish different entry models to even start backtesting. I haven't done any DD on Qual, so I have no informed opinion. Interesting you've used the word "sacrilegious" which implies that much of the space does have a devotional "cult" tone of whomever one aligns with; that devotees have found "The Holy Grail" of trading.
Reminds me of that dude in one of the Hall of Fame threads, I forget. His age doesn't line up though. Mid-20's, hormones still raging, still time to go on tilt. Lot's of life experience yet to be had; gutted by relationship betrayal being one that causes most trauma.
The devil is in the details. Specifically, I said, "It's only these last two years we've had anything that resembles a traders market in equities.". What I mean by that is that the volatility have been heightened with plenty of sizeable swings both up and down which makes it a good market for short term traders. Prior to that, we've had a massive central bank fueled bull market where plenty of people have made money simply by being in the market. Which requires little to no skill at all. I never disputed any of your statements. I was just curious about how the people you quoted made their pile. Arguably, there's a huge difference in terms of skill set between buy and hold and actively trading. If you bought certain stocks around 2000 you'd be breakeven 8 years later. I know a guy who's done incredibly well just by investing starting out (randomly) in 2009. Nothing spectacular about his strategy, but he was lucky to get started at a very opportune time.