Bad news:
There is no textbook or research that will advocate that the inexperienced trader can start with crypto, options, forex, futures or other volatile instruments and be successful. These are ideas shilled by social media. Shills can't make money on their own, so they ply these falsehoods on the naive and make their money by posting ridiculous claims that rack up their online views.
Here are the facts not promoted on the popular channels:
Day traders face a higher probability of incurring a 50% loss rather than enjoying a 50% gain. While there is the potential for substantial profits for experienced traders, there is notable risk of significant losses for the inexperienced.
Only 3% of new daytraders achieve consistent profits.
The idea of Get-Rich-Quick in trading is yet another virtual fallacy.
Profitable trading has a significant learning curve. You need to learn how the market works, acquire knowledge in the instruments being traded, become adept at research and analysis, and truly enjoy being immersed in the economics and events that move the markets.
This forum is best for those:
- who have an understanding of the workings of the stock market
- who have the mathematical acuity to understand the internal working of stock indicators, calculate risk, and to understand the geometry that is the backbone of graphs and charts.
- looking to use and/or write technical charting indicators for charting analysis.
This forum does not promote the blind use of buy-sell indicators. Indicators only indicate.
Following a buy signal, with no understanding of technical analysis, is the quickest way to becoming one of the 97% that fail. While it is possible to follow signals during bull trends; the unexpected corrections and contractions quickly wipe out those profits and can result in significant losses.
At no point, is a buy or sell 'arrow' be provided on the VIP forum. The forum does not promote them. They are but another fallacy. They don't exist. Reality is that charts shape up in 101 ways to present a tradable zone. The forum goal is to provide the tools to analyze charts and recognize potential trading zones which, combined with your understanding of market drivers, will assist in your trading decisions.
