There are probably as many opinions on the best way to learn trading as there are trading. You have traders who tell you anything from the least to the most.

The Best Day Traders to Follow

There are more day traders out there than we could even count. At any level of experience, from newbie to pro, there are different schools of thought as per the best way for a trader to build himself up and into this exciting world of trading. It is important to remember, though, that some of the advice that is propagated online freely, might not be the best path forward.

Take some of the world’s best, most renowned day traders in history. Jesse Livermore, Ed Seykota, and all the other grand names. One thing they all have in common is hard work and relentless eagerness to cultivate their knowledge. Regardless of how difficult they had to strive to get there, and how endlessly exhaustive and thorough their knowledge had to bring them to where they ended up, as top traders. In the past, such furotiosness and eagerness to learn helped them reach the stars.

Problem of Leading Day Traders in 2019

The current generation of traders, however, is merely a reflection of the current generation of millenials. Unlike their predecessors, who appreciated and followed the belief that only hard work brings success, today’s younger population has quite a different idea of how to go about their occupations and vocations. In a sense, the world has transited from one in which the most important value is to work hard, to one where working hard is equated, and comes hand in hand, with ‘play hard’.

Not only that the generation of today emphasizes less work and more fun, it also expects instant results. In this era, the idea is to minimize the amount of preparation and hard work, and dedicate the least amount of effort to get the best result. That is hardly sustainable.

The modern type day trading education has also caught that virus as of recent. Browse through the YouTube channel operated by Patrick Wieland, an aspiring day trading teacher from Florida. Whereas previously, teachers like Patrick had focused on technical formations; gaining experience; and endless training, we can see that Wieland takes a different path. In his clip called “Stop learning day trading strategies”, he describes the supposed ‘waste of time’ which is the result of deciding on the right strategy, learning and implementing. Instead, and throughout his immensely popular and successful channel, he is covering endless types of thoughts that are often contradictory, and sometimes not well rehearsed.

Despite his shortcomings, Wieland still has many advantages. He is consistent, and immensely loyal and forthcoming with his audience. Other members of Wieland’s generation are far from reliable.

Some of the worst millennial oriented trading “gurus” are misrepresenting, and sometimes even all but lying to their crowd. Take Garen Philips for example. One of his most view online videos is called How I learned To Day Trade In A Week. Not only is implying that one can learn day trading in a week misleading, it also takes advantage of youngsters who are almost primed to look for instantaneous results and successes.

Millennial Traders – Watch Out

Those born in the late 1990’s and 2000’s should be very wary when making financial decisions. Reading the more “boring” writings of authors with decades of experience in the market could very well be more beneficial than following the advice of youngsters who promise you to get rich quick!