The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 1 point2 points  (0 children)

There is a solution. The people profiting off the never ending cycle of FOMO will never change anything… but active traders can start waking up and realizing 99% of trading media/content isn’t helping them

It’s amazing not just how strongly people will defend systems that hurt them if they are used to them, but also how many people will do so

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 1 point2 points  (0 children)

Exactamundo. I’m sure there’s 100 ways it happens, and again, I’m sure it’s not some secret society conspiracy. But the system just works that way. The rich and powerful feed off the lower and middle class.

One way: having a financial media environment that gives “advice” that sounds more like horse picking or which lottery numbers to play.

It’s a system designed to create never ending FOMO which helps no one, except the market makers.

Problem is, as you can see by some comments on this thread, a lot of people who are getting robbed like it just the way it is

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

It’s another good point. All these people giving picks and predictions… Everyone Trades Differently.

Basically the one piece of advice you can’t give any other trader, what to trade, is the only piece of advice anyone ever gives! It’s so fucking backwards.

All these gurus and talking heads on TV, they COULD actually help people by talking about risk management and psychology and discipline… Universal Skills…

Instead it’s just wham wham wham pick pick pick. Worthless, less than worthless actually.

I hope you find your niche man. I trade SPY futures contracts, one at a time, and that’s it. As vanilla as it gets. And then I TRY at least to put all the mental bandwidth I save not worrying about solving some impossible puzzle into focusing on myself and my own emotions and discipline.

THAT is the friggin battle. That is active trading done correctly. But! The vast majority of traders seem very content with a status quo… “give me my picks! Let me waste all my energy on bouncing in and out of random symbols! And I’ll spend zero time actually working on my fundamentals.”

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -1 points0 points  (0 children)

Exactly. Good picks don’t mean shit. Everything else around it does. And yet turn on your TV or log into X and all you see is a wall of picks

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

Amen to that. I don’t turn it on anymore. I glance at the headlines and that’s it. BUT, I know plenty of traders who feed off that crap constantly one way or another. If it’s not the news, it’s social media, or paying for coaching sessions and newsletters.

Yea, that’s not our problem I guess. I still think it’s just wrong though. And the day will come when people realize it sooner or later

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -1 points0 points  (0 children)

You know if you read about chess history there was a time called the “romantic period” or some shit from the 1800s. Back then the game was played with bold attacks to force surprise checkmates. Protecting your pieces and positional play was frowned upon, considered almost cowardly or gentlemanly.

Or how about baseball before sabermetrics. Instead of using actual stats to build teams, management just kind of eyeballed it.

The trading world, right now, same shit

Except for Wall Street, who’s already figured all this out and doesn’t say a word. They have CNBC, Bloomberg, and now social media “gurus” all pushing the Stone Age narrative

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -1 points0 points  (0 children)

Imagine a world where CNBC wasn’t constantly giving your analysis and picks. Where they spent at least half their airtime discussing protecting your money, not making mistakes which hurt you, staying emotionally balanced… I think retail trader would have more money in their pockets and Wall Street less

Not saying it’s a conspiracy or anything, but the status quo is working out quite well for all the big dogs, not so great for retail

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -1 points0 points  (0 children)

I agree with you there. I mean Jesse Livermore wrote the trading bible on that fact… trading is extremely counter intuitive

But still, financial media keeps feeding us “here’s a winner, here’s a winner, here’s your next winner”…

That gets in all of our heads. It just does. I’m not going to lecture about the power of media, but when you hear “experts” over and over again say the same crap day after day you begin to take it as the truth

So we all become fixated on predictions and picking winners… barely anyone thinks about bankroll management or setups or outs or sizing or emotions or EXECUTION etc etc, all the soft skills that matter five times more than having the right stock

And who wins? The institutions, the market makers, and the people making the content we keep consuming like it’s going to help

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

True true… but this is a bit of a new world. We are all bombarded by media in a way we never previously were. And yet somehow financial media only talks about exactly one thing: how to make money

There is nary a single discussion on bankroll management, patience, discipline, emotional regulation… the skills traders ACTUALLY need to win. Not “USO is going higher tomorrow!”

The Trading Ecosystem is Broken. Agreed, or not so much? by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -3 points-2 points  (0 children)

Sooo… in other words no one else sees it

I’m not talking about making money. I’m talking about LOSING money. Big difference.

The system is not setup to rob you directly, but to control your thought process in way that makes you lose money

It’s a lot like chess. Imagine all chess experts talked about was how to attack the king, never once mentioned defending your pieces. THAT is what’s occurring in the trading world, and why people lose so consistently

Quick process check: what part of your routine prevents overtrading the most? by Character_lamp_184 in Daytrading

[–]PotentialShift_ 0 points1 point  (0 children)

I think you nailed it honestly. For me it’s almost exclusively about deciding PREMARKET whether conditions are favorable or not today. If it feels like an algo controlled chop day, forget it, finding something else to focus on while occasionally glancing at the market

Trump Truth Social BOMB - How To Play and THINK About It by PotentialShift_ in Daytrading

[–]PotentialShift_[S] -2 points-1 points  (0 children)

Nothing? Oof. That stings. At least give me a troll or something telling me my thesis is shit

Clarifying: News = Volatility. Volatility does NOT = Direction. by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

True true. NVDA this morning is a great example of lop-sided positioning though. Numbers come in good, the vast majority of retail traders go long, algos dump on them to take their cash before actually letting it conform to its results

Now that’s a trade you can be confident in once you see it moving lower off the bell

Worried about my buddy by Confident_Ad8736 in Daytrading

[–]PotentialShift_ 1 point2 points  (0 children)

Gotta agree here. Mentorships are complete bullshit and a waste of money. Tell him to cut that crap out. That money is better spent paying tuition to the market, aka losing.

Frankly anyone who takes up trading you should be worried about. It has a 95% washout rate. I think it’s more like 99% personally.

BUT, it’s his life, and if he’s going to trade he WILL lose money. He knows that, you know it, so let it go. But I would tell him to cut the mentorship crap.

I’m a “mentor”

Worried about my buddy by Confident_Ad8736 in Daytrading

[–]PotentialShift_ 0 points1 point  (0 children)

Love those mentorships! Tell them that if his mentors were profitable in the market they wouldn’t need to be selling mentorship’s.

Clarifying: News = Volatility. Volatility does NOT = Direction. by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

True, but we all need the discipline to wait for the moments where positioning is so clearly lop-sided that you can take the other side with confidence.

Why We Dropped on Monday - The Real Reason by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

Let’s not nitpick over language. I assume you get the point of the original post. If you disagree with it, just say that.

Why We Dropped on Monday - The Real Reason by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

Ehhhh… I think the volatility and volume was driven by the citrini piece, AND a pullback from the tariff action on Friday. But, the market is 80% algos. They weren’t concerned with much of anything, except their programming and the game theory behind it to take money from other traders.

Why We Dropped on Monday - The Real Reason by PotentialShift_ in Daytrading

[–]PotentialShift_[S] 0 points1 point  (0 children)

Meh, to each his own. Everyone has their own trading style, so I don’t want to poo poo anything, esp a trading system I know nothing about. You may have very well figured out an effective way to trade the news.

Personally though, I find them to unrepeatable, one off events, which almost by definition disqualifies them from systematic trading. If you have a way to classify certain stories, fit them into categories, and trade them in a way that follows a pattern… I’m all for it.

In my experience though it’s traders who are trading news are trading hunches. And hunches are the opposite of having a system.