I have seen and been told many stupid things people believe about trading and the industry while on Twitter and Youtube. Here are the real facts about the trading industry you so badly want to be apart of, sometimes the truth sucks.

(This thread inspired by my RE mentor @sweatystartup (even though he doesn't know he is my mentor yet, thanks for all you do))

Let's get into it.

Heavy capital is needed to make it in trading, small accounts *can* work, but odds of strikeout are incredibly high.
Start big gain small > Start small gain big

Most failure from trading is not from picking a wrong move, it is from being overleveraged and underfunded. Quickest way to be good at trading is have a larger trading account while remaining underleveraged.
This can be done through prop firms or working another job while saving

Hindsight is ALWAYS perfect. If someone has no skin in the game and talks in the past instead of present, run away! Best place to learn trading (both what to do and not) is from someone doing it, not just drawing lines on a chart.

Stop paying for livestream trading, chat rooms, etc. There are free communities not built on the back of your dollar. Use the extra money for trading in your account.

There is no magic sauce way of trading. You will find people that make money scalping, swinging, never selling, always shorting, etc. Someone somewhere made more money doing something totally different than you, and that is OK.

Your "alpha or edge" is also someone else's alpha. There are no new things in the market, just new ways of executing them. Helping out a fellow trader will not make you lose your edge even though 95% of people think it will. You are a baby fish trying to help other baby fish.

The markets don't give participation medals. Just because you are participating does not give you the right to think you should be rich. Be humble or get humbled.

No paid course, chat, or livestream will give you the tools you need to make money in 90 days. Go to "school" and be ok with the time it takes to pick things up. You don't want a lawyer or doctor practicing in 90 days so what makes you think you should make the same in less time?

There are great traders that use stoplosses. There are great traders that do not use a stoploss. Figure out what YOUR brain prefers and run with it, no need to try and convert other traders to your way of thinking.

Most of what you see on Twitter/Youtube is not the full picture for that individual on both the profit side and the loss side. Take everyone and everything with a grain of salt.

Sizing up is one of the most dangerous things for a trader. Comes back to the best way to be a better trader is to have a large account, sucky, but true. Stay underlevaged!

Emotional Capital is some of the only true individual alpha left.

You will take losses. You will take losses larger than you originally planned. No one wants to show this because it hurts their course sales but it is one of the true things in our business. Got to put up money to make money.

"Risk Management" is in the eyes of the beholder. True risk management looks different for everyone and comes down to Funding and Emotional capital at play. There is no "right way" to do this. i.e. risk mgmt for a 20 yr retirement plan looks different than risk mgmt for 70 yr old

Trading accounts and savings should be VERY separated (not financial advice, go ask for help if you need it). Full time trading should rely on BOTH being well funded with emergency plans in place in order to save emotional capital down the road.

Trading is a business and will have expenses (commissions, platforms, losing days). You have to pay to play.

Trading is not meant for everyone. Period. Some people's brains are able to process and make decisions fast and others are not which is ok, there a million industries out there for you to be an expert in.

Losing is the fastest way to learn aka paying for your education. Losing is highly looked down on (because they want you to buy their course cause they dont lose) but should really be embraced and studied even though it sucks. Losing pays for itself when you learn what not to do.

Trading should be fun, no one is forcing you to do this and the fact we are given an opportunity for something new everyday is incredible. Have fun with it, it is after all your life.

@threader_app compile please for all the homies