12-21-2021, 03:16 PM
How do you respond when smart people that you like and respect say that one can make a living day trading, if only you learn enough and are disciplined enough with your "system"?
My position has always been that technical analysis has little to offer. (I'm NOT saying it is entirely meaningless; just that it really isn't actionable or predictive in the way that technicians hope.) And that if day trading successfully was within reach of mere mortals, that everyone would be doing it quietly. Instead these gurus seem to spend all of their time promoting their Dischord and YouTube channels and trying to get you to pay and subscribe to their stuff. If I could reliably make $500 or $1000 per day by just trading for a few hours, I'd never talk to anyone about stocks again.
And if it were possible and predictable in a way that a human could execute, algorithms would already have eaten that lunch.
Right?
My position has always been that technical analysis has little to offer. (I'm NOT saying it is entirely meaningless; just that it really isn't actionable or predictive in the way that technicians hope.) And that if day trading successfully was within reach of mere mortals, that everyone would be doing it quietly. Instead these gurus seem to spend all of their time promoting their Dischord and YouTube channels and trying to get you to pay and subscribe to their stuff. If I could reliably make $500 or $1000 per day by just trading for a few hours, I'd never talk to anyone about stocks again.
And if it were possible and predictable in a way that a human could execute, algorithms would already have eaten that lunch.
Right?