's a culture problem on fintwit and i want to talk about it today uh. Uh. I think we can all know and sort of understand the culture problem that within financial twitter financial youtube financial. Reddit financial blah blah blah.

Any social media and it's typically over promising and under delivering now throughout this video. I'm not gonna name drop anybody. But there was a tweet that i read today that really caught my eyes uh and i didn't really care for it. And i wanted to discuss it here today and i'm also gonna be pretty introspective about this all right i've been in situations where i've attempted similar things and uh.

I'll talk about it so with that being said guys welcome to traders trades where we're gonna talk fast doesn't class. I'm really saying i'm not a fan of experts so please don't say the grain of salt uh. Let's just get right into it. So this was a tweet that really caught my eye.

The tweet reads as such we're all going to shock. Everyone with this 50 to 100 000 challenge. I'm giving myself. 15 training days to complete it who's in uh.

I'm not gonna name drop the individual. I have no animosity no hard feelings towards the guy uh. I've looked through his stuff. Quite a while and uh.

It seems to be a commonality. A trend. A trend of look at this crazy trade challenge that i'm about to do uh come enjoy it right now the premise in the argument. I know because i've seen these before the premise in the argument of well what if he actually does it and he's successful right what about that situation that's not even a piece of the equation.

I'm going to tell you as to why let's just hypothesize for a second that this individual who did a 50 to 100 000. Challenge of 15 trillion days. Actually completed it what would it take to make that happen well he drew it out for you on a mission. 50 to 100 000.

Challenge begins on monday. Y'all. Ready. I'll be doing free live spaces.

And i will also stream. My trades live on twitch and he has this 50 to 100 000 challenge. 11. Trades 50 to 100 000.

Dollars. Now. The problem with this is quite simple it is assuming that each one of these trades is gonna be full porting fifty dollars turned to a hundred hundred to two hundred two hundred to four hundred at 400 to 800 800 to 1600 16 to 32 32 to 64 64 to 28. You get the picture.

It goes on and on and on and on and on and that's the commonality is full porting. The guy who is attempting this challenge is full porting the entirety of the way and in my personal opinion. This creates an unhealthy culture within uh finn. Twit financial twitter youtube reddit all of it and i'm gonna tell you why right now.

We've heard the terms yellow. We've heard the terms d gen. We've heard uh this and that and the other uh. But the problem is a lot of people who come to twitter are not djinns a lot of people who come to investing are not djinns.

But i feel like they become turned d gens along the way now you can do this as a good or a bad thing uh. It comes down to i guess the nature of the the the converting you know are these people happy with their changing lifestyle or whatever. But this encourages unrealistic expectations right if this guy can make fifty dollars turn into a hundred thousand dollars. I'm actually interested to see if he does it but nonetheless uh even if he does this encourages people out there because this tweet got about 1300 likes or so.

That they can do the same that x guy can turn 50 bucks into a hundred thousand and 11. Trades the reality is quite simple 9999 of people cannot do this why well let me tell you why if they could everybody would do it. The trading's hard. It's incredibly hard and full porting 100 of your trades all 11 trades 100 of these being the entirety of your portfolio and all 11 of these have to be 100 gainers.

Who can't be wrong one time right problematic. I've seen this more than once this sort of culture this uh idea of trading challenges and this is where i said. I was going to be introspective and i'd like to discuss this i have tried doing a trading challenge before and i will tell you from first hand experience that the pressure of having that many people watch your trades first off is a mental. It's very difficult on the mind to think about uh other people potentially looking at what you do to to look for some type of clue of what to do with their money that's stressful on the mind and second off.

I couldn't do it i couldn't do it the training challenge that i set for myself uh. I wanted to complete significantly faster than i actually uh pushed forward with and i failed i failed with that training challenge. And what did it actually accomplish one uh. It made me look like a douche bag two uh.

It could have led to other people looking at that as if that is the way to trade that is the secret to invest when in reality. This is not doable. Now. I didn't try to turn 50 into 100 000.

In 15 days. This is a pretty big big bridge to cross. But i have bought into this trading challenge culture that exists on twitter and to me. It's it's a quite simple tactic it's meant to farm farm followers farm.

Likes farm click through rate and uh farm money you can very easily convert people even if you say i'm not charging you a nickel to donate money to do this to do that to sign up for your discord to sign up for whatever in the instance of this guy. I do want to clarify that he is doing this for free all right this individual is not charging. He's doing it free uh he's live streaming. It he's it all checks out.

But at the end of the day. Whether he's successful or unsuccessful this nature is unhealthy this culture is unhealthy and i think it's what leads to retail looking uh being looked at as silly. You know what i'd like to see more so you know and i i got to do my own part on this obviously i understand that but what i'd prefer to see is more people have realistic expectations on how trading works trading's hard. Most traders don't make money.

99 of traders. Lose money. Only one percent make it and from there. Even less make it a career training is difficult full porting.

Stupid risk is high in the situation. And this guy probably has enough money to be able to do it. But some people do not and will follow this because it looks like a winning lottery ticket trading's not a lottery ticket trading's hard and if you treat it as a lottery ticket you'll eventually lose all of your money you will and it's important to discuss that it's not sexy. It's not fun.

It's not that fun yolo baby. Let's fall poor dj. In this baby. Let's go you know that stuff's fun to do.

But it could be dangerous and i think it's important to talk about the danger of that culture. And that mindset so this was a a very easy sort of example to use hopefully. It's valuable uh. I don't know how many people do these sort of trading challenges and stuff if you're doing them and they're realistic you know i think that's healthy that's fine.

There's a big difference between uh saying. Hey. Let's try and turn a thousand dollars into ten thousand as long as it takes following xyz principles and rules and guidelines here's my stop loss here's gonna be my target here's my risk and reward here's my everything right you're walking through step by step by step by step by step what it takes to successfully trade over a long period of time great that's beautiful. But that's drastically different than this this is unrealistic.

This is silly. And i i i hope to see more of this get called out in the future because this is that's garbage absolute garbage it teaches nothing it helps nobody uh except for the person who's doing it and that's my take on that uh do you know this guy don't go don't go witch. Hunt them i don't think you could think whatever you'd like about it. It's not for me.

I have a problem with the culture itself more so than the result. Even if this guy's successful. You know uh culture's still a problem.