One of the constant problems that we can encounter in the world of trading and investing online is the supposedly big number of traders who make a living in the intraday markets.
It seems there are countless of them.
Only in Spain and the Latin countries these seems to be thousands for what we can see in the different channels online.
Somehow if we walk in the streets it must be quite easy to pass by many day traders every day.
However, it is not gold all that shines, especially in trading.
TV day trader
The supposed number of day traders is so big that sometimes we can see some of them appearing on TV or in serious channels online.
It is something that seems to be gaining popularity little by little.
20 years ago only a few people would claim that they were “professional day traders”.
Nowadays it is quite easy seeing people who supposedly make a living trading the financial markets.
This kind of stories sell very well, therefore TV and online channels like to propagate them.
This activity belongs to those that make believe the people that you can make a living from home with just an online connection.
Who does not want to make a living working from home, if possible doing his own projects?
What is more, if we can do this by doing our own business, without boss, stress due to too much social interaction, etcetera, so much the better.
In this sense, living out day trading seems to be the panacea of all those professions of making a living from home.
It permits you; supposedly, make a living from home, without boss and with a good salary every month with just doing several hours per day. There are even those who say that only they only need one hour to achieve it.
The American Dream come true.
From home, with an ice cream, chips and a cola.
What else can you ask for?
Everything seems perfect.
Who is not willing to sell some story?
Because eventually it is what this is about: trying to sell.
And to be able to sell something you have to put it as a very useful thing and easily reachable, because if it is almost impossible to achieve not many people would be interested.
In this case it is something that supposedly is difficult but achievable with some effort.
You know “95% of traders lose”.
In this case there is some pattern that we can be sure of, when we see a very official media outlet and a supposedly professional trader we can almost be sure it is a scam.
In other words if you see any of this supposed “super traders” in your favourite national TV you can almost be sure it is a lie, a fabricated story.
Some food for thought about how things really work in this modern world.
Perhaps, if you keep yourself still, with patience and learn enough, especially from supposed day trader mentors, you will be able to convert into a professional day trader, or at least that is what many of those mentors say to sell their courses.
Actually, it is likely that after some time you decide to become a mentor as well, the same as those who taught you in the first place.
And this is where one of the keys of the matter is.
Day trading mentors
That is formation, which is given by mentors.
And curiously enough, most of those mentors are “professional day traders”.
It is, in fact, quite difficult to disprove them since there is no actual means we can use to discern if they are what they say.
Nevertheless it is quite suspicious when they charge us 400 or 500 Euros for doing a course that last some hours, or even more when you notice that they work for someone else.
However, the willingness of the public to become day traders is so big that it does not matter how ridiculous some of the mentors are that there will always be countless wanna be traders willing to pay for countless courses.
In some other fields of life you can see if people are telling you the truth easily.
For instance, if Mike says: “I drive a Mercedes”, it is easy for us to prove it if the next day we see him driving the Mercedes, although he could even lie and use a car that is not his.
However, all those cases like the example just given will be more or less easy to see if they are truth or not.
Cases like when Mike says he can weight 120 kilos in press bench. Well, he just needs to do it in front of us.
When it comes to day trading, it is very complicated to know if the guy who is saying that he is a professional day trader is telling us the truth.
After all, “talk is cheap”.
How do supposed professional day traders prove they are what they say
They could supposedly show us their trading records, for instance.
Do you know traders who do it?
Besides, there is a small problem with this as well.
Contrary to lifting 120 kg, it is possible to counterfeit some account extracts quite easily.
The fact that someone presents us some papers where they say that they have won X money does not mean it is true.
I can say I have won 1 million dollars and put it into paper.
In fact, if I do it well, it might even appear to be an official paper.
This is the problem with this activity, and that is that everything we hear from it is susceptible to be falsified.
I can say I am a day trader.
In fact, anyone who trades the markets everyday can say it.
All of them are day traders.
However, being able to make a living out of purely trading there are just a few.
As my grandmother would say: “from the saying to the fact there is a big distance” or so.
In the world of trading there are huge “distances” I fear.