I want to start this out by saying that I have dedicated the last three years of my life learning daytrading. I feel like I am close to becoming consistently profitable, but I am not there yet. For a bit, I have been thinking about giving up. Perhaps, I am just wasting my time. I understand that over 95% of daytraders lose money in the long run. But this is something that I want very badly, and I don't want to give up unless I'm convinced that it is 100% impossible.
So, this is why I believe it is possible to do. There are obviously a bunch of people on social media that claim to be millionaire daytraders or whatever, and I know that basically all of them are lying. However, out of all the daytraders I've looked at, there are only two that I fully believe are consistently profitable themselves. Those two are Matt Diamond and StockJock. If you can convince me that both of them are being dishonest about their trading, then that will sufficiently change my mind and I will give up on trading.
Matt Diamond (you can find him on YouTube) only became consistently profitable a couple of years ago, and now he daytrades full time. In 2020, I was in his discord group (free) and every day he would talk about some of the trades he was making. Every month he would show a broker statement, so we could see that he was actually making money every month. He was transparent about his losses.
Nowadays, things have changed a bit. He doesn't do the discord group anymore. He just posts his profits and losses on Twitter and does some trade recaps on YouTube. Because of how well I got to know Matt, and his transparency, I still fully believe him.
The only reason you may have to doubt him is that he does offer a couple of paid services. One is a daily newsletter that people pay $29 a month, another is a call service where you pay $150 to speak with him for an hour, and just recently he released a trading pdf guide for $99. You could argue he's making a living from these services, and not from trading. I disagree. Given the size of his audience, I can't imagine he's making any more than a couple thousand dollars a month off these services alone, which isn't enough to live off.
Next, let's talk about StockJock. He is a live streamer on Twitch that live streams himself trading every day. He is usually trading from the moment market opens to the moment the market closes. He doesn't offer any paid services at all, so he doesn't have any other income coming in. I don't see how StockJock could be a fraud at all. He is as transparent as they come. You can't fake your profits when you're literally showing everything live.
So, I hope some of you can help me see something that I may be missing. If you can convince me that both Matt Diamond and StockJock are being dishonest about their trading, then that will sufficiently change my mind.
Leave a Reply