Too lazy to read? The answer is bots.
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There are two YouTube traders I know you hate to watch, but sometimes there can be interesting ideas coming from anyone even those that have an approach we despise.
Sometimes these traders get it right to, although they are also doing better by streaming their charts live and expressing what they think they see in the charts.
Trading is not easy unless you do it with bots, set with certain criteria. Besides the trading bots we manually set and besides the direction and the chart technical analysis we make, there is a large number of bots that will automatically copy our trades, if we have been successful enough, previously.
Many don't know about this at all but this is very common. Bot trading used to be the reason many professional traders were at the top of the profitability ratios. And they have the advantage that other bots follow them, which makes the life of these traders easier.
Let's observe this without bots, but with traders manually setting their orders after finishing their TA and make a decision. Those traders that will have the highest percentage of profitability will be those that others will tend to follow.
It is not easy when nobody knows what trades are going on, and this is very often in crypto, we always wonder who could have sold and why, although why doesn't really matter.
In stocks, everybody knows everything, the options are not hidden and it takes too much effort to make bets using proxies. The top traders will not only be visible, but also love to be visible and brag about it.
There is anonymous trading in stocks too, there are dark pools and anonymous exchanges but most trading is not done as such and these are not the usual day-traders.
Maybe the names are not available to a random retail trader, but the trading rooms have strict regulations and the online identities of traders are public.
Watch how Navinder Singh a British trader crashed the stock market in 2010:
If you watched this video, and you day-trade stocks or crypto, there is only one lesson you have learned, bots rule the market and it is those that master how to use trading bots that make the most.
There are plenty of crypto bots out there, some are cheap to sign up and some are expensive enough to create losses immediately, although it takes skills, experience, and full knowledge of these mechanics to manage it.
It is stressful as we have seen Singh was quite eccentric as a character and was withdrawn from others in his office, trying to perfect his trades.
It takes too much time, and also difficult for someone that doens't have experience in similar trading firms. But this is how trading is done, we are fighting tanks with rocks and arrows when we try to day-trade manually.
By no means one will become immediately a successful trader just by using trading bots, or just by copying the trading strategies of the best performing traders.
Especially the second, that can be manipulated easily in crypto by unregulated exchanges that create the fake feeling that a certain trader gets it better than the rest.
This is how they squeeze the most from those that copy trades. See for example Bitmex exchange that had a seemingly top-trader expressing how bearish he was in May 2020 and how Bitcoin was going to $1,000. A trader that will just copy trades will probably do worse than previously, so will a trader that just bought a trading bot, will find that the profitability will probably be lower.
It takes time, dedication, put more work and more hours in it to become a great trader, but it also needs to "cheat" the system. As Navinder did, he found the loopholes that could help him become a leader trader that too many were copying him and even managed to crash the stock market to his profit, rebuying cheap.
It is not impossible to do this alone, but it is better to have a trusted teacher. Not an online one that sells trading guides and courses, these are all scammers and amateurs. In Europe London used to give opportunities to far too many, now, after the Brexit, it is probably going to be Frankfurt and Paris. In the Us there could be investment firms and offices in every corner of any central city. Even Pompliano is a financial manager, you can also be one but you could also succeed as a top performing day-trader if you learn from the best.
You say a lot about trade. But we can't choose a bot to trade. We need experience first to trade. To trade in the crypto world, you need to know about cryptocurrencies. But I have no idea about the stock market.