https://www.youtube.com/watch?v=L7G0OfJUON8&t=4757s

 

I'd suggest watching this video. It's 2 hours long, just so you know, but I believe it does make some interesting points about the trading industry. So it is worth it if you get the chance.

To briefly summarize, the video is of Anton Kreil talking about how the infrastructure of the trading industry and the market is set up in a way to ensure Retail Traders of various securities to fail. Statistically day traders are only successful 20% of the time. That there is a conflict of interest between retail brokers and traders that are successful. He goes on to explain how Trading Educators / Gurus are essentially extensions of their "Preferred Brokers" that profit via the same conflict of interest. This is done by teaching people "nonsense" labeled as strategy to get them to trade more, thus generating more commission and spread revenues. The educator gets a certain percent of this revenue that the student has to pay to the broker. This is tied together with IB agreements between the educator and the "recommended broker". And more...

This conflicts with a lot of what we are learning by the educators featured on this site. My intention is certainly not to call anyone a fraud / fake. Rather, I thought it would be interesting to start a discussion about trading and the retail trading industry, and whether or not this changes some of your perceptions. 

Personally I am unsure how I feel about it. I've managed to stay green and make a little money so far, so I have developed some confidence in my trading. But seeing this video surely makes me feel... skeptical about trading and whether I could ever have a future as a successful trader.

Anyways, have a good rest of the weekend!