[DayTraderDynamo]

Hello traders,

Like many people I have been inspired by success stories online, yet now I’m beginning to feel like they’re setting me up for unrealistic expectations.

My trading progress has been slow and I’m betting others feel the same? How do you stay motivated and equally realistic about the day trading journey?

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Topic

[Christian Harris]

Day trading success stories can be inspiring, but viewing them with a critical eye is essential.

While some stories might reveal valuable trading strategies or approaches, most paint an unrealistic picture of day trading as easy money.

Nothing could be further from the truth. Day trading is a complex and demanding skill.

The biggest red flag is that we often only hear about successful traders rather than the countless others who lose money.

You’ll notice that 99% of these ‘success stories’ aren’t independently verified (broker/PAMM/copy trading accounts etc), making it almost impossible to distinguish genuine success stories from potentially misleading ones.

Why don’t traders talk about losses? Because ‘selling the dream’ sells courses, signals, mentorships etc…

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[Eduardo]

Most of what you see online is s*** with the intention of making you buy something.

I like this guy’s take on why day traders lose money. He’s transparent and puts the day trading game in perspective.

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[Christian Harris]

Be careful with Ross Cameron. He’s very personable, but has been prosecuted and found guilty by the FTC of misleading consumers with false advertisement promises.

Again, if he’s such a ‘successful’ trader, why does he spend so much of his time creating social media content to push his courses?

Source: FTC Returns More Than $2.9 Million To Consumers Harmed by Warrior Trading

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[Eduardo]

Wow. I did not know about this. I thought he was one of the good ones. Thanks for sharing!1

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[Alfred S]

His content is great and I think he’s learnt his lesson about dubious marketing claims. He’s more upfront about the risks and disclaimers now.

It’s just my view but I think there is still a lot of value to be gained from his YouTube and courses.

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[Christian Harris]

I agree. I also watch Ross’s videos because I find them entertaining, especially when he’s travelling and trading.

Regarding his trading strategy, it’s worth noting that he tends to day trade penny stocks, which are inherently risky.

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[Arnold Gray]

They are painting a rosy picture that’s probably too good to be true. Think about their motives for sharing these success stories. Are they selling something perhaps?

Real success in day trading isn’t about fast, huge profits. It’s about minimizing losses and steadily growing your returns over time.

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[S3bb@]

This. Day trading should be boring, controlled and focused on managing losses. People don’t want to hear it but it’s the truth.

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[Christian Harris]

Well said.

If you’re not taking a rule-driven mechanical approach, then it’s borderline gambling.

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