![]() So I don’t have the rosiest view on trading courses, not that they’re all bad, but let’s move on to Financial Twitter, or fintwit. 10 moves in the stock price with a massive share size, that doesn’t do a whole lot for you with a few thousand in your account hampered by PDT or good faith violations. If you spent $1,000 of your savings on a course only to learn that every strategy taught and every chatroom moderator has unlimited day trades scalping. Oh, and almost all of these strategies are really best-suited for people with a margin account of over $25,000. And to me, that rides a pretty thin line, ethically-speaking. When you have massive ad spend and an approachable teaching style, you can dupe thousands upon thousands of people into paying you their hard-earned money, when in reality, the overwhelming majority will not be profitable over time. I can understand that they may find marketing and teaching better suits their life now, and the stress and risk of depending on trading for your income is less desirable to slinging the online courses.īut the real problem is day trading is freaking hard to get consistently good at, no matter who you are. Most people’s counter-arguments with these furus is “if you’re so good at trading, why would you 1) tell people about your strategy which could hamper your success in the markets and 2) why do you need to sell a course for thousands of dollars?Īnd these are valid points. There’s a reason why I dub myself the anti-guru. When it comes to trading though, a lot of these gurus or “furus” can’t prove their trading success, teach basic concepts that can be learned for free, and make the vast majority of their income from selling their courses and chatrooms – not from actually trading. If you have valuable experience and information that can help shorten the learning curve and help make newcomers more successful, and want to sell that for a reasonable price, that’s fine. Now, I, for one, don’t inherently take issue with people selling courses. Typically, these gurus are so successful at trading stocks that they can teach you how if you only purchase their course with their special trading system or their proprietary indicators or scanners or whatever. So if you’re new to the world of day trading, it can be hard to know where to go for education and community without having to dole out thousands of dollars.Įnter the stock guru – or “furu.” Prevalent in YouTube ads – maybe one even played before this video, also in articles on business-related media outlets, and on Twitter. The path to become a doctor, lawyer, or engineer is pretty clear cut, but not so much in this world. But unlike other high-paying career paths, there is no clear route to become a day trader. Being able to make a nice living by trading at home from your computer sounds amazing. A lot of people love the idea of being a full-time trader, myself included. The world of trading is more prone to fake gurus than maybe anything else out there. In this video, I break down my take on the Discord server, Atlas Trading. Well, I got sucked into the world of Fintwit stock gurus and discord servers. ![]()
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