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Comment by neop1x | Hacker News Reader

This also applies to other fields. People also believe that it is simple to make money through day trading. There are many tiktok influencers and youtubers who portray themselves as millionaires, trading on a beach while digital nomading and giving nonsense advice. Yes, it is possible to make money day trading, but it takes a significant amount of learning, practice, patience, time, and discipline, and even then, the results are not always consistent, and it is not for everyone.

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CAVEAT EMPTOR friend. I have day traded for 3 yrs. There is no edge to be had for retail day traders. It’s a suckers game, where the odds are stacked against you, just like in a casino. The platforms that trade against retail order-flow make all the money by front running trades at the sub-millisecond level, on every trade. It’s called electronic market-making. Everyone is a glorified speculator. Evidence is ask any of these influencers for an audited trade history or P&L… you’ll never see one. You may get lucky trading and win big, like a gambler, but if you keep playing, you’ll give everything back, then if you buy on margin or leverage with options, you’ll lose it all and more. There are no repeat fund managers that make the top of the list year after year. It’s just dumb luck, they get paid management fees (2 and 20) to gamble: Please save yourself years of misery.

biaheza on YouTube makes a bunch of good videos debunking the git rich quick schemes and showing the other side of the coin. https://www.youtube.com/@biaheza

Is he really though? I did view a bunch of his videos and realized the "Dropshipping course" for 294$. I obviously haven't watched the course, but dropshipping is basically one of the most popular "get rich quick schemes" on YouTube aside from daytrading.

I think he does talk about the difficulties in starting/running a drop shipping store in some of his vids. But I do agree, it add any cred that he's still trying to sell a "dropshipping course". I definitely wouldn't recommend anyone start drophipping, be it following his course or any other.

I've been working on day trading now for just over 5 years. I even took a sabbatical for 1.5 years to fully dedicate myself to it. Still struggling to be consistently profitable. I figure it's going to take me another few years to have be in the place where I feel I can give up my other career entirely. Easily the hardest thing I've ever done in my life.

Definitely right, 99% of influencers about day trading are full of shit

i don't know nothing about day trading but it sounds hard AF to be profitable. even if you by some miracle figure out the winning formula... it won't last. others will figure it out and the game will change again. sounds exhausting!

As I understand day trading is a full time job. How do you work on that for 5 years without profits?

> I figure it's going to take me another few years

What are you planning to learn or what skills are you planning gain or sharpen during that period?

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