How did the myth of traders get started? It's a well known fact that it's impossible to consistently make money trading, so how does the concept of a 'trader' even exist in the first place?

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Anonymous Tue May 22 10:18:21 2018 No.9560527 [Reply] [Original]

How did the myth of traders get started?

It's a well known fact that it's impossible to consistently make money trading, so how does the concept of a 'trader' even exist in the first place?

>>	Anonymous Tue May 22 10:20:19 2018 No.9560560 >>9560527 People can go on lucky runs for years before it all comes crashing down. It only takes 2 or 3 really good trades before people believe you're an amazing trader, and people want to believe because it means they could be an amazing trader too.

>>	Anonymous Tue May 22 10:21:08 2018 No.9560568 its a scam perpetuated by exchanges to hook people in and get them shuffling their money around for income via fees

>>	Anonymous Tue May 22 10:24:59 2018 No.9560618 >>9560568 unironically this

>>	Anonymous Tue May 22 10:36:18 2018 No.9560772 >>9560568 Cryptocurrency exchanges created George Soros?

>>	Anonymous Tue May 22 10:38:39 2018 No.9560806 >>9560527 >It's a well known fact that it's impossible to consistently make money trading expect its not a fact is it you daft cunt. reminder to sage and ignore retard threads

>>	Anonymous Tue May 22 11:04:50 2018 No.9561095 >>9560806 Name me one person who's consistently made money trading.

Anonymous Tue May 22 11:11:29 2018 No.9561193

>>9560527
A trader is the same thing as a speculator. A trader makes money off of other peoples work. Everyone here is a trader. The ones that make 1-5% every few days are the successful ones. But for that to work you need discipline, patience, capital, and a plan. Traders need anywhere from 10 to 50k to make anything worthwhile. DESU. Smart money will only make a few trades a year. They will buy the absolute bottom, hold until their price is reached sell, and then wait until the next absolute bottom. This way it creates way less taxable events, and this strat is actually in your favor if are dealing with large amounts of capital.

reluctant kneepad girl Tue May 22 11:24:01 2018 No.9561359
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Trading like playing competitive video game.
Only 10% of players ever make it out 50% win rate.
Most of that 10% only manage 52% win at most.

But that 52% win enough for get you Diamond League, Gladiator, Global Elite
That 52% can also earn you great living if trader.

Now there .01% of gamers who manage 60%+ win rate. That rate enough for get you into pro leagues.

Traders with 60%+ are billionaires.

>>	Anonymous Tue May 22 11:25:32 2018 No.9561384 >>9561359 >Traders with 60%+ are billionaires. That assumes they can scale their method.

>>	Anonymous Tue May 22 11:29:36 2018 No.9561448 >>9561359 What's the trading equivalent to creating a smurf account with 95%+ winrate?

>>	Anonymous Tue May 22 11:31:23 2018 No.9561471 File: 359 KB, 1099x831, 1425476268468.png [View same] [iqdb] [saucenao] [google] >>9561359 >tfw 10% Trading here I come!

>>	Anonymous Tue May 22 11:46:16 2018 No.9561686 >>9561095 >Silence Kek. I think you won OP

>>	Anonymous Tue May 22 11:47:46 2018 No.9561713 >>9561359 How are you this retarded

>>	Anonymous Tue May 22 11:50:18 2018 No.9561752 If you understand risk asymmetry you'll find most traders (in derivatives) lose a small, limited amount 95% of the time. That other 5% is an absolute killing. Read Nassim Taleb's books and watch the big short

>>	Anonymous Tue May 22 11:54:20 2018 No.9561827 >>9561095 Paul Tudor Jones and Ray Dalio, depending what you define as trading

>>	Anonymous Tue May 22 12:04:33 2018 No.9561995 >>9561827 These 'famous traders' are fakes created by stock exchanges to encourage trading.

>>	Anonymous Tue May 22 12:11:36 2018 No.9562111 >>9561995 you got some proof there bud?

>>	Anonymous Tue May 22 12:11:51 2018 No.9562115 >>9561359 this guy gets it

>>	Anonymous Tue May 22 12:12:54 2018 No.9562130 >>9562111 Yes my proof is that consistently making money trading is not possible, ergo they're fake.

>>	Anonymous Tue May 22 12:13:54 2018 No.9562143 >>9561713 Chinaman duh

>>	Anonymous Tue May 22 12:16:16 2018 No.9562175 File: 4 KB, 283x178, rape.jpg [View same] [iqdb] [saucenao] [google] >>9561827 they are successful because they have inside information. like playing a game with a cheat code,you always win.

>>	Anonymous Tue May 22 12:16:45 2018 No.9562183 >>9562130 But you specifically said they are 'created by stock exchanges to encourage trading' have you got any proof of that? Then we'll discuss the impossibility of making money by trading and if those guys count as trading.

>>	Anonymous Tue May 22 12:17:28 2018 No.9562191 >>9562130 Wrong.

>>	Anonymous Tue May 22 12:18:32 2018 No.9562208 >>9561686 not 'silence', no one can be fucked replying to the same thread every single day >>9561095 http://forex.info/10-richest-traders-in-the-world/ >what are investment banks with trading desks kill yourself please

>>	Anonymous Tue May 22 12:21:41 2018 No.9562249 >>9562130 im sure youre gonna convince someone with these circular as fuck arguments lmfao

>>	Anonymous Tue May 22 12:25:13 2018 No.9562295 >>9561193 >thinking about taxes when trading NEVER going to make it

>>	Anonymous Tue May 22 12:27:39 2018 No.9562322 >>9561448 investing in crypto

>>	Anonymous Tue May 22 12:28:50 2018 No.9562338 File: 154 KB, 800x446, 87120.jpg [View same] [iqdb] [saucenao] [google] >>9560527 kek the absolute state of /biz/ in 2018 psyop'd into thinking its impossible to trade i bet none of you use stop losses either

>>	Anonymous Tue May 22 12:31:00 2018 No.9562358 File: 46 KB, 640x466, not immune to propaganda.jpg [View same] [iqdb] [saucenao] [google] >>9562338 >using stop loss

>>	Anonymous Tue May 22 12:49:29 2018 No.9562624 >>9562338 I never use a stop loss order.

Anonymous Tue May 22 13:04:45 2018 No.9562818

>>9562338
stop losses are literally retarded, if you do it on the exchange they can calculate how much they need to spend to shake you out if need be, and you know they got shadow APIs to private firms doing this exact thing if they aren't in on it themselves.

>>	Anonymous Tue May 22 13:09:14 2018 No.9562880 >>9561095 me i went from scraping up $4,000 up to $800k and back down to $260k. still fairly comfy.

>>	Anonymous Tue May 22 13:10:22 2018 No.9562893 >>9562130 literally all you have to do is buy the fucking dip then sell higher with a stop loss you fucking fool.

>>	Anonymous Tue May 22 13:11:04 2018 No.9562902 >>9562880 How'd you get there in the first place? Consistent small % gains or 10x moonshots on low cap shitcoins?

Anonymous Tue May 22 13:11:11 2018 No.9562904
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>>9560527
It's hard but not impossible. For example brokers have data showing about 5% of traders win and 95% lose. I personally have from forex only 4 year positive data with max draw down less than 2%, leverage used 2-4x and 10-30 positions open per se

Intraday I dont believe there are any profitable retail traders after spread in forex at least. Stock market there might be quite a few

>>	Anonymous Tue May 22 13:14:44 2018 No.9562951 >>9562818 If you are trading on that edge that somebody could clip your stops you would be losing anyways

Anonymous Tue May 22 13:21:24 2018 No.9563034

>>9562902
i sometimes end up waiting 4 weeks just for a 3-4% gain.

the problem is retards here aren't happy with that and want 10% every 4 days. that's when they get impatient, start making mistakes, lose money then go to 4chan to say "making consistent money trading is impossible".

see>>9561095
this guy is so retarded that he doesn't realise basically everyone in crypto is making money trading atm, except for himself because of his room temperature IQ.

you have to take into account the dunning-kruger effect and cognitive dissonance. 50% of the people in the world are dumber than the other 50%, the problem with the dumber side is that about 40% of that 50% thinks they are part of the smarter side and will never be able to see themselves on the hierarchy because of the dunning-kruger effect. they are also under the illusion that just because they struggle to figure something out, that others struggle to figure it out as well. the truth is, they just aren't very intelligent, extremely lazy, or both.

>>	Anonymous Tue May 22 13:23:33 2018 No.9563072 >>9561359 >tfw 70% winrate with doomfist I-I can be a billionaire?

>>	Anonymous Tue May 22 13:25:03 2018 No.9563099 >>9563072 No, because you still play video games you fucking loser

>>	Anonymous Tue May 22 13:25:43 2018 No.9563105 It's another "I'm too stupid so it must be impossible" threads The financial version of incels

>>	Anonymous Tue May 22 13:26:05 2018 No.9563113 >>9563034 Based anon, what are some good sources to read for people who want to start trading a bit more?

Anonymous Tue May 22 13:26:57 2018 No.9563130

>>9560527
It took me roughly 13 years to get profitable around 90% of the year. Not a joke. I know what the hell I'm doing now but for anyone with only a few years in you're braindead for thinking its going to happen in any short amount of time. OP you're living on another planet.

Anonymous Tue May 22 13:27:20 2018 No.9563133
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>>9561359
Win rate in trading is easy to get into 85% range, even in forex. Meaning your trades 85% are profitable. But you could still lose money on that. However most people are traditional trend followers, with win rates 20% range, thinking they can lose constantly small and then win big, this is even more hopeless strategy. Stats show most profitable retail traders win rates are between 55-to 70%. Pay out ratio in that case probably close 1 to 1.

>>	Anonymous Tue May 22 13:28:10 2018 No.9563141 >>9563133 No its not easy. Stop being a degenerate.

>>	Anonymous Tue May 22 13:29:16 2018 No.9563160 >>9563133 Fuckheads like this spread lies and wave the carrot on a stick. Thats a stupid picture.

Anonymous Tue May 22 13:29:35 2018 No.9563165

>>9561095
probably all the guys on this forum unless they are all larping
https://www.elitetrader.com/et/threads/best-country-for-trading-tax-efficiency.189932/page-34

https://twitter.com/peterlbrandt/status/994221046034153472?lang=en
probably this guy if he is not larping

and many more

>>	Anonymous Tue May 22 13:29:54 2018 No.9563171 >>9562951 This isn't about people clipping your stops, but clipping a big pile of stops around the same range. And don't underestimate the sentiment analysis that can be done when you see where all the morons put their stops at.

Anonymous Tue May 22 13:31:08 2018 No.9563188
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Then let's say video games area good example, starcraft known for small margins. Pros 55% win rate can be considered good, but when they play public league (ladder) they can achieve 100wins 2losses win rate 98%. like Scarlett just did in american ladder. In professional gsl league her win rate would be 55-60. So the difference in vidya world between Professionals who actually play for salary, and high skilled amateurs is huge.

>>	Anonymous Tue May 22 13:31:22 2018 No.9563193 >>9563133 Stats show more than half of PROFESSIONAL FUND MANAGERS fail to consistently beat the market. I have doubts about your stats that suggest retail traders are somehow better.

>>	Anonymous Tue May 22 13:32:21 2018 No.9563204 >>9563130 13 years oh my fucking god you are retarded

>>	Anonymous Tue May 22 13:32:24 2018 No.9563206 >>9563113 Cryptocred twitter/ youtube

Anonymous Tue May 22 13:33:41 2018 No.9563222
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>>9563193
First of all these are stock pickers statistics. Not forex hedgers etc. Secondly fund managers dont try to beat the market they just follow it and gather comissions. You are more likely to stay in your job that way than risking it. Last but not least trading 10 million is easier than 100 million, basically even the best japanese retail traders get only market returns after they trade over 100m capital

>>	Anonymous Tue May 22 13:44:03 2018 No.9563351 >>9563099 RUDEFAG

>>	Anonymous Tue May 22 13:47:29 2018 No.9563399 >>9563130 >with infinite internet resources and the ability to paper trade, i managed to lose money consistently for 13 years. Retard lmao. I have been trading since last year and have a 100% hit rate.

>>	Anonymous Tue May 22 13:48:57 2018 No.9563418 >>9561095 Bernie Madoff 8% a year for 30 years

>>	Anonymous Tue May 22 13:52:50 2018 No.9563486 >>9560527 lol my success rate in crypto is 100% Don't buy shitcoins and never sell at a loss. Everything good moons eventually

>>	Anonymous Tue May 22 14:00:30 2018 No.9563611 >>9563399 You're lying

>>	Anonymous Tue May 22 14:01:34 2018 No.9563628 >>9563399 I can tell you're a broke sorry fuck just by the way you write

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