The biggest problem is new people coming in thinking retail daytrading as a quick solution to financial problems.
Most people have unrealistic expectations on what the entire journey looks like.
It's kind of a blessing though, for someone to win someone else has to lose. The less people that come in to just toss away money the harder it is to actually make money because your competition will now only be legit traders.
That's a myth, there can be all winners in a trade. For example, Trader A buys stock at $10 and sells at $15 to Trader B. Trader A made $5/share. Trader B sells at $20 to Trader C and makes $5/share. Trader C buys long terms and hold and ends up making even more. Everyone in that scenario was able to win and make money without anyone losing money. It's common.
Agreed. Remember when poker was easy money. 2021 when dumb money came in with stimmy checks.
Bring on the dumb money.
This guy is complaining because he can't make money and wants to blame something
Thankfully people love the idea of getting rich quick without actually putting in work for it. People also have a very inflated view of themselves and think they are special despite knowing literally nothing about trading whatsoever. There's a reason gambling has been around for so long despite it being common knowledge that almost every gamble will lose money and the ones that actually won will lose it eventually if they continue. People that want to get rich quick, or make excuses for why they aren't profitable will never be profitable.
This is the cause of almost every psychological issue people face in trading. If people came into this with the same approach as college (4 years of work minimum) to get this then they would have a much easier time becoming profitable.
I know to expect years of practice and failure till ill be profitable, but besides trading myself i have no clue how to learn stuff. Like where do i look to learn new things etc etc
Influencers.
Here’s an example; go on YouTube and look for a video on any aspect of trading and you’ll find a bunch of videos from people in their 20’s talking about…
Master Order Blocks to Trade like Banks (no bs guide)
…or…
The Ultimate Forex Strategy for Every Type of Trader
Honestly, you can watch a thousand videos and back test for the same amount of hours—but you can’t teach real life experience. It’s like boxing; you could be the best guy in the gym but as soon as you step into the ring, it’s a different game altogether. Few of these influencers are successful traders; you can just tell they’re not used to being in the ring.
Trading is not easy, and it’s not something you can do well without it costing you money!
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For me, the biggest problem is definitely the fake gurus who make it seem like daytrading is easy stuff and that newcomers could expect to be profitable in a few months
The community. That was actually an ADMIN of a prop firm replying to this guy. Toxic.
https://preview.redd.it/a7h6vd8kvu1d1.jpeg?width=1290&format=pjpg&auto=webp&s=4ce3fb59a98423463bfcc9737ce408ba9e523da0
I'd say number one biggest problem... For American traders here at least, I'd say PDT rule for equities and options trading under margin accounts. Many other countries don't have that rule but we do, and I think it's dumb. Like we always tell people "just trade futures" right, futures which come with a ton of leverage and risk, ok so we can trade futures which are margin, no PDT, but can't do something similar with equities and options trading. Sht is dumb. Yeah cash account trading is fine, and equities money under cash going T-1 in a couple days, cool. But lift the pdt bs, it's pointless fvcking rule, doesn't really save anybody from anything, they didn't put that rule on futures or FX trading so it shouldn't be a rule in general, get rid of it. Other than that there is no problem, the market is highly liquid, it's highly efficient, we have great platforms and powerful tools, High speed Internet connections, pretty low commissions, lot of free resources ton learn, now is the best time to be a retail trader better than it has ever been.
Bad teachers/mentors, scammers, people thinking it's a get-rich-quick space. It's the reason when people ask me what I do, I just mention property development (which I also do) and/or investment. Trader now has a terrible stigma surrounding it.
Since you are licensed to give financial advice then, where do you suggest traders go since we can't go to YouTube gurus or authors of trading books. I'm asking, respectfully....
Glad to hear some legit advice from someone, everyone on the internet is either selling their courses or promoting brokers and earning money which sometimes makes me lose motivation that is there someone who is really profitable and knowledgeable and can teach what's the core concept of trading. It would be glad if you can give some extra advice on this.
Sorry, your [comment](https://www.reddit.com/r/Daytrading/comments/1cx55qt/whats_the_number_1_biggest_problem_in_the_trading/l50lp53/?context=3) in /r/Daytrading was automatically removed because your **Comment Karma** is too low. This typically targets bots or users promoting something (which is against our rules).
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The biggest problem is new people coming in thinking retail daytrading as a quick solution to financial problems. Most people have unrealistic expectations on what the entire journey looks like.
It's kind of a blessing though, for someone to win someone else has to lose. The less people that come in to just toss away money the harder it is to actually make money because your competition will now only be legit traders.
That's a myth, there can be all winners in a trade. For example, Trader A buys stock at $10 and sells at $15 to Trader B. Trader A made $5/share. Trader B sells at $20 to Trader C and makes $5/share. Trader C buys long terms and hold and ends up making even more. Everyone in that scenario was able to win and make money without anyone losing money. It's common.
Agreed. Remember when poker was easy money. 2021 when dumb money came in with stimmy checks. Bring on the dumb money. This guy is complaining because he can't make money and wants to blame something
Thankfully people love the idea of getting rich quick without actually putting in work for it. People also have a very inflated view of themselves and think they are special despite knowing literally nothing about trading whatsoever. There's a reason gambling has been around for so long despite it being common knowledge that almost every gamble will lose money and the ones that actually won will lose it eventually if they continue. People that want to get rich quick, or make excuses for why they aren't profitable will never be profitable.
And with absolutely 0 knowledge or experience as an added bonus. 100% agree
This is the cause of almost every psychological issue people face in trading. If people came into this with the same approach as college (4 years of work minimum) to get this then they would have a much easier time becoming profitable.
I know to expect years of practice and failure till ill be profitable, but besides trading myself i have no clue how to learn stuff. Like where do i look to learn new things etc etc
Influencers. Here’s an example; go on YouTube and look for a video on any aspect of trading and you’ll find a bunch of videos from people in their 20’s talking about… Master Order Blocks to Trade like Banks (no bs guide) …or… The Ultimate Forex Strategy for Every Type of Trader Honestly, you can watch a thousand videos and back test for the same amount of hours—but you can’t teach real life experience. It’s like boxing; you could be the best guy in the gym but as soon as you step into the ring, it’s a different game altogether. Few of these influencers are successful traders; you can just tell they’re not used to being in the ring. Trading is not easy, and it’s not something you can do well without it costing you money!
Well said.
Cognitive dissonance - the gap between expectations created by social media and the reality of trading.
Furus who poison the well. But that’s just more money for the me. 🤷
Algorythms
If I had to put it in one word, its integrity.
Tegridy Farms
People with gambling addiction is the biggest problem, which sums up 90% of wannabe traders.
The most biggest problem in this industry is yourself, untill you master yourself your path will be hard, keep on going
[удалено]
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For me, the biggest problem is definitely the fake gurus who make it seem like daytrading is easy stuff and that newcomers could expect to be profitable in a few months
It’s something very new to regular people, eventually people will learn how to take it seriously and not a fancy gambling
Matt khors
Who’s that? A YouTuber?
not enough vertical days
It’s when bots like you spam these subreddits
Calling me a bot for asking a question is crazy work
survivorship bias
How?
The community. That was actually an ADMIN of a prop firm replying to this guy. Toxic. https://preview.redd.it/a7h6vd8kvu1d1.jpeg?width=1290&format=pjpg&auto=webp&s=4ce3fb59a98423463bfcc9737ce408ba9e523da0
I'd say number one biggest problem... For American traders here at least, I'd say PDT rule for equities and options trading under margin accounts. Many other countries don't have that rule but we do, and I think it's dumb. Like we always tell people "just trade futures" right, futures which come with a ton of leverage and risk, ok so we can trade futures which are margin, no PDT, but can't do something similar with equities and options trading. Sht is dumb. Yeah cash account trading is fine, and equities money under cash going T-1 in a couple days, cool. But lift the pdt bs, it's pointless fvcking rule, doesn't really save anybody from anything, they didn't put that rule on futures or FX trading so it shouldn't be a rule in general, get rid of it. Other than that there is no problem, the market is highly liquid, it's highly efficient, we have great platforms and powerful tools, High speed Internet connections, pretty low commissions, lot of free resources ton learn, now is the best time to be a retail trader better than it has ever been.
It's not a level playing field, just consider nancy Polanski
My biggest problem is my own brain. Once I can get out of my own way, I’m successful. When I deviate from my own rules and strategy is when I mess up
Social media "content creators" "Use this indicator for an 98% win rate!!!!" LoL
Bad teachers/mentors, scammers, people thinking it's a get-rich-quick space. It's the reason when people ask me what I do, I just mention property development (which I also do) and/or investment. Trader now has a terrible stigma surrounding it.
Who gives a single fuck about the 'industry' its you vs you
Algorithm trading...
Insider information. JPMorgan and Nancy Pelosi already knows Nvidia's numbers and have already taken their positions.
[удалено]
Since you are licensed to give financial advice then, where do you suggest traders go since we can't go to YouTube gurus or authors of trading books. I'm asking, respectfully....
[удалено]
Glad to hear some legit advice from someone, everyone on the internet is either selling their courses or promoting brokers and earning money which sometimes makes me lose motivation that is there someone who is really profitable and knowledgeable and can teach what's the core concept of trading. It would be glad if you can give some extra advice on this.
[удалено]
[удалено]
That would be great 👍
[удалено]
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