Topic: The Illusion of Trading Success - page 6. (Read 1231 times)

The real successful traders are quiet and are even afraid to share their success stories. But those who are not, are big mouths and they are very convincing when they talk. That is why following these social media influences doesn't make sense anymore as they are just helping us to lose, not to earn. Because if these people are true and what they say is truly working, they are rich already but unfortunately, they are not.

Success can't be copied by others, it is a personal strategy. We can have their ideas and follow their tips but it doesn't mean we can be like them because there are secrets in trading that they never told us until such time we discover it on our own.

I think this is explained quite simply: the security of income.

A successful trader misses around 49% of his trades and makes his profits with the one percent more successful trades. Once he has made a name for himself with his successful trades, he can use this to offer courses, workshops and training sessions, which are then also very popular with newcomers. All well-known professional traders actually offer such courses, and crypto influencers such as CoinBureau also work with such methods.

The income from the courses is generated regularly without much risk, so they are a very good addition to the trades. A successful and well-known trader would therefore be foolish to abandon this source of income.

Thats the negative side of not only trading but also all the related business and platforms that are running all along the internet. People get more income than trading in selling their so called fake courses and claims.

Actually it's not more of a fault of course seller than the ones who buys that courses. We are not only buying these courses but actually we are promoting these kinds of course sellers and this boosts their confidence that people can still be doged and faked. We have to stand against it ourselves.

There are many people like that, claiming that they became millionaires just by trading and opening trading classes to be able to share their experiences with other people. I mean, if he's confident in his experience and has already made millions of dollars from it, why doesn't he just trade with that money himself and take all the profits for himself? why does he need to open classes at quite expensive prices and share his knowledge? If it wasn't for wanting to make money quickly without the hassle of trading, I don't think he would open a class with the intention of making other people rich with it - those people aren't generous enough to do that, they're not saints

Well, I got your point there.

From time to time in trading for sure you'll learn from those mistakes in the long run and this makes you strong in trading and of course, it will sharpen your knowledge and ideas in trading as well.  But I can't imagine how much you'll need to lose before getting such a point.
So the idea of successful trading isn't something yet convincing me at all but yes, you may earn profit but we can't call it successful.  Because IMO, when we talk success, there should be no loss at all, it should be consistent profit that trading won't promise at all even how knowledgeable you are.

There's a lot of people who are selling courses though not all of them are successful traders but that doesn't matter they didn't say they are successful but they have the knowledge they can share with in exchange for money and it's up to people on how they are going to apply it and those courses were really a good source of knowledge that you can't get easily or would hard if you are just going to do it on your own. Also, there's some known traders in Twitter that do share courses for free, give their insights (but not a signal) and those are some successful traders/teachers as they do teach freely and doesn't ask anything in return and they also have a disclaimer that that was only their analysis and doesn't encourage to follow as there's no way you can predict a market.

But regarding to the VIP signals, I don't trust them too, we don't know how do they get it and also it would hinder you to practice your skill on market analysis if you just rely to the signal given in a group.

We cannot reject their presence because they have found a way by opening trading training courses. They probably trade infrequently because they often train people who join them and they actually make good money from what they do.
It's hard to become a professional trader, but that doesn't stop people from continuing to learn. One way is to take courses that say they can. However, not many people can become professional traders because many of them are not serious about studying it.
If you really want to become a professional trader, you should study more seriously and think twice about enrolling in such courses because you can learn a lot about trading from other sources. You should use the money to register as capital for trading and continue to learn so that you can improve your skills.

Well, I have often witnessed this phenomenon for several years and these people appear when the economic situation of most people is in an unstable position. Continuous and defensive trading may be good for yourself, but our brains are still required to read price movements, which is not as easy as clicking the buy/sell button. There are lots of people close to me who were initially successful in trading, but this is what is called the crypto market which can move abnormally, not about ups and downs but about positioning. Therefore, instead of focusing on being a daily trader who locks himself away and locks up his brain, it's better to be an investor who can leave assets in his wallet at any time without having to worry about going up or down, because long-term investments for me give me more freedom of time to look for sources of income other.

I disagree. If you are actually trading, you can make profit in the long run too despite some losses and mistakes here and there.

The problem is that many people "gamble" and call that trading! For example they listen to the fake hypes on the internet, in social media, etc. and buy a shitcoin without knowing they are buying into an already pumped garbage that is about to be dumped. Obviously sometimes they make a profit randomly because they were lucky and the pump lasted a little longer but most of the times they lose because they get dumped on.
This is not trading. This is gambling and you are right, there is no successful "gambler"...

Yes, I agree. As much as we need mentors in trading especially if we are still beginners, but in the end, it’s left on us the final decision making if we are going to adapt the mentor’s idea or we have to dig our own idea.

The reality is, no one really gets successful in trading consistently, yes they gain profits at some point but they also lose their funds at times. So no one is really capable to give us the most reliable advices in trading as we end up making different experiences in trading and gains different outcomes as well. Although we have these influencers all over the social media, but they cannot make guarantees that our trades will end up successful if we follow their trading strategies and tips.

That’s where they become best actors and impersonators so most likely, they will keep on doing that until they’ll find enough reason to stop. So while the social media is still at a high advantage these days, and majority of the audience are in social media, they will continue to chase big and instant profits by deceiving those innocent people, something that they can’t do actually in the real field of trading.

And since majority of those aspiring traders have turn greedy, they will continue to follow and subscribe to those fake traders since all they think is that they can make their own trades successful and profitable from following all their tips and advices.

I like comparing them to chaps who write or are authors of books that tell people the "secrets of getting rich" but in actual sense those people have never gotten rich because of the "tips" they are offering people.
They make huge earning through selling those books to gullible people instead 

Some even get to an extent of using fake money from Demo accounts and shilling shitcoins to their followers.

Others keep asking their followers to sign up using their referral links. To me, those are red flags.

Sometimes a legit trader will teach a bright student, and even help them with trading funds in exchange for a % of the profits. A deal that good is normally only for members of my family. 

The truth is that anyone that is actually serious about trading and is profitable, have zero to no time for educating people on YouTube or sharing signals because the trading profits will def supercede that of the educational pursuits. I have a friend that knows very little about trading cryptos and overall limited knowledge on cryptocurrencies yet he prides himself as a domain expert for crypto and a mentor selling out "mentorship" spots in order to teach people how to make money from crypto.

9 of 10 times, people doing these only earn from those sells and none from their acclaimed skills.

This became a big scheme and many influencers or what we call mentors in trading keeps on flexing their luxury lives in social media platforms to promote their services or to attract customers, sad but yeah this is happening and believe me I've tried subscribing into some mentors in trading and not all of them are really helping you, there some that is scammers or their skills or signals are really not effective, of course not all I subscribed to some legitimate groups that will really teach you how to trade and different techniques and hacks in trading, that's why I don't believe those influencers that boost too mucb about how successful they are because of trading.  That's why the greatest mentor is yourself, if you manage to become average to expert level in trading the you are the boss to your own work.

This is exactly what I have been trying to explain the other day on different thread, one who teach us trading by getting fees are not really traders they just try to exploit their audience by showing the positive side of crypto trading.

Making profits consistently in trading is not possible so they say others to do trades and get money in return and making money consistently.

when you see someone that are self proclaimed trading gurus selling course you should also try to look further into their trading portfolio whether they are making profit or not.
the thing with these trading gurus are that they never disclose such thing i'm pretty sure that their portfolio isn't impressive and they are going out of their way making course for the sake of making that additional income stream as described by you, no wonder why there are many newbies trader that quits early because they are so misguided by these courses where even the course maker usually don't make that much of money.
there are many people that tries to act like they are successful by using luxury brands and sports car and so on for the sake of making people interested which might be their strategy too as stated by many people before.
always know that nobody is trying to make you rich, big fat chance these people are trying to make themselves rich from using your money.
learn by your own if you can save all that money to get the real impression of how trading works.

Actually you are correct to an extent because we actually have more of the fake and a few of the originals in the industry and this has actually made a whole lot of persons start to doubt if it's actually really possible that these guys make money off trading and the actual truth is that yes they do but only but a few amongst all the many of them that come online to lose as forex or crypto traders, generally these courses they sell are such that you can actually get other people's material and fine-tune it to look like it's your original material and then you get to resell again ad a course and that's what most persons do because looking at their beginners classes they do share some form of similarities and in their advanced classes that's where you get to see the difference and understand those who actually make money off trading and those who makes money of selling courses.

Not every trader actually are good enough at trading but a few are aswell good and are making some good money off it, personally if i get to the point i can consistently make money off trading then you can be sure i wouldn't even come online to want to sell courses to make the money rather i will trade on my own to make the money and then if anyone approachs me i will teach them.

Trading is not so easy and even experts find it difficult to make money from trading and again you can’t compare theory with practicals, theory is something that can be learned and understood but putting it into practice is not so easy as it seems and some people who teach others how to trade probably are not risk takers and taking risk is not easy and not for everyone. Everyone has their part to play in life just as teachers teach students to prepare them in their career path but they remain teachers themselves.

Making videos and dropping trading signals is easier than trading itself, most of these people are scammers and truth be told it is better to learn about trading yourself than to rely on some random people sharing signals and trading contents, they are humans just like you and if they can learn it so can you so why do you have to waste money to pay for their services? Depending on them is not ideal instead you should learn about trading, i know it is not easy but it is worth it.

When you follow online trading classes and you end up losing you will blame them for your loss and will be difficult to take correction but when you learn and trade with your knowledge and lose you can easily identify your mistakes and learn from it as experience is the best teacher.

Trading is actual spending your money for trading.

It is different, very different than trading with demo accounts or learning trading courses with fundamental or technical things about trading. When it comes to actual trading, actual money, profit and loss, you will be affected by emotion and your psychology will be affected a lot.

You can see a professor teaches about trading but it's unsure that if the professor uses his money to trade, he will be one of rare winners in the market.