tenmacel
We might make it, just be patient
- Joined
- Jul 18, 2026
- Posts
- 360
- Reputation
- 280
"There's a sucker born every minute on Wall St"
Motherfuckers go into trading with a youtube tutorial and reading 3 charts on trading view
There are three types of suckers (from Reminiscences of A Stock Operator:
The plain sucker: this is you. You have no idea about rules, you have no idea how the market works, your trades are purely emotional and you seek money like a gambler
The semi/educated sucker: this is a very dangerous kind of sucker, he's read books, understands the chart, knows all the aphprisms. Yet, he makes no money because he lacks discipline and fails to understand the macro trends. He knows all the rules except for the most important one: "Don't be a sucker!"
The Wall St Fool: this is a well-educated and fairly intelligent trader, maybe even institutional, but this fool suffers from the neurosis that he must be active in the market every day regardless of conditions, which kills his capital fast.
The plain sucker: this is you. You have no idea about rules, you have no idea how the market works, your trades are purely emotional and you seek money like a gambler
The semi/educated sucker: this is a very dangerous kind of sucker, he's read books, understands the chart, knows all the aphprisms. Yet, he makes no money because he lacks discipline and fails to understand the macro trends. He knows all the rules except for the most important one: "Don't be a sucker!"
The Wall St Fool: this is a well-educated and fairly intelligent trader, maybe even institutional, but this fool suffers from the neurosis that he must be active in the market every day regardless of conditions, which kills his capital fast.
Motherfuckers go into trading with a youtube tutorial and reading 3 charts on trading view
DAY TRADING DOESN'T WORK
Firstly you obviously should not directionally day trade but I'm sure people do it. If you do, book a vasectomy so your (lack of) intelligence doesn't get passed down
Here are the people you're competing against (and providing free liquidity for) when trading the intraday.
HFT shops like Jump or Optiver, where the barrier to entry is a master's/PhD to actually create new strategies, have giant teams of engineers optimizing order latency, risk desks, and traders who constantly monitor their model. Other quant firms as well trade the intraday, but they might not close their whole book before close.
When you trade overleveraged nonsense like index futures, you compete and provide liquidity for macro desks who use this to actively hedge rather than actually make money off of. Trading vol traditionally through options and you'll just provide free liquidity against systematic vol trading strategies.
You're never going to beat these firms, no matter what you do or how hard you try, you have no clue how to manage risk, hedge, evaluate your portfolio and performance, execute, allocate, etc. People spend decades training institutionally with shitty PnL and you think you have the capacity to beat them?
Now, what is the solution?
Firstly you obviously should not directionally day trade but I'm sure people do it. If you do, book a vasectomy so your (lack of) intelligence doesn't get passed down
Here are the people you're competing against (and providing free liquidity for) when trading the intraday.
HFT shops like Jump or Optiver, where the barrier to entry is a master's/PhD to actually create new strategies, have giant teams of engineers optimizing order latency, risk desks, and traders who constantly monitor their model. Other quant firms as well trade the intraday, but they might not close their whole book before close.
When you trade overleveraged nonsense like index futures, you compete and provide liquidity for macro desks who use this to actively hedge rather than actually make money off of. Trading vol traditionally through options and you'll just provide free liquidity against systematic vol trading strategies.
You're never going to beat these firms, no matter what you do or how hard you try, you have no clue how to manage risk, hedge, evaluate your portfolio and performance, execute, allocate, etc. People spend decades training institutionally with shitty PnL and you think you have the capacity to beat them?
Now, what is the solution?
It's this wonderful thing called investing. You (now get this) buy something and hold on to it, and let it go up. I know, sounds fucking crazy right? You're letting something go up??? What??? I thought I'm supposed to trade price swings!!
I'm not going to teach you how to invest, everyone has their own style, but a good place to start is reading the news, especially business, corporate, and economic news. You should look for things that will not give you money immediately, but in some long term horizon. The learning curve is long, however there is real payoff, just not extreme levels like how daytraders seek leveraged returns like a crank whore looks for a high.
Until you, my plain sucker, have read a vol trading book, have it memorized and fully understood cover to cover (you need 2yrs+ worth of formal knowledge) and fully implemented alongside your own extensively backtested strategy, you should not even consider the intraday.
I'm not going to teach you how to invest, everyone has their own style, but a good place to start is reading the news, especially business, corporate, and economic news. You should look for things that will not give you money immediately, but in some long term horizon. The learning curve is long, however there is real payoff, just not extreme levels like how daytraders seek leveraged returns like a crank whore looks for a high.
Until you, my plain sucker, have read a vol trading book, have it memorized and fully understood cover to cover (you need 2yrs+ worth of formal knowledge) and fully implemented alongside your own extensively backtested strategy, you should not even consider the intraday.
Day trading is for retards, learn investing, and please stop posting about it, if you do you're spiritually a victim of Bernie Madoff or any MLM/ponzi. You're better off sterile.
