A word of caution · Day Trading for Beginners

A word of caution

Hi guys, I just wanted to highlight something that most new traders experience and that I think is very important to be aware of when starting out.

There's just so much noise in the trading space and so many people trying to profit from the fact that beginners have few places to go for objective, neutral information on how to trade. Youtube and social media can be a great resource, but as with everything else it's crucial to be able to discern correct and relevant information as opposed to schemes, frauds and scams.

Trading is actually pretty extreme in this regard as it

a) attracts clueless people looking for easy money and fast solutions

b) has a very high learning curve

c) is not taught at any official schools or institutions

d) involves a lot of money

This means that the space is absolutely ripe with people trying to profit not so much from actual trading as from aspiring traders. Most, if not all, youtube gurus and "pros" get their primary income from ad revenue, courses, and pump and dump deals with various platforms. Many of them have been caught faking trades and livestreams, hiding their real data, and so on. And why wouldn't they? They are marketers, not traders. You as a beginner are their target for easy gains.

They make trading look easy and repost the same technical analysis stuff over and over again, "teaching" you candlesticks and patterns and indicators that supposedly will make you a pro as well and make you $10k a day, overwhelming you with awesome "data" that is 99% clickbait.

Most real pro traders don't have youtube accounts or sell courses. They make their living from trading and have no incentive to share their strategies and hacks with the general public. Do you really think they would spend their precious time making flashy videos all day long, exposing their edge and wasting time, when they could be trading?

Now I'm not saying there aren't some legitimate information out there, but I'd be very careful with spending too much time, or any money at all, on "pros" or gurus. There are no easy ways to succeed in trading - if there were, everyone would be a billionaire.

Good luck out there!

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