Warning: Trading Can Be Hazardous to Your Health and Bank Balance!

Let me start by cutting through all the bullshit and give the vast majority of you aspiring traders the best and most honest advice I can offer: DON'T DO IT!

By attempting to scare off my audience in my first sentence, I doubt I am following the typical blueprint of launching a successful Substack, and it’s probably not the type of inspiration you were hoping for. Surely you are more accustomed to the typical bluster found online; the “just-follow-my-simple-and-easy-trading-method-and-make-millions” type of fluff. Unsettling as it may sound—and contrary to what you will hear from most of the self-serving trading gurus—my message is simple: trading is ridiculously fucking hard! 

Let me continue with the harsh truth: 95% of traders fail. The stress can be debilitating, and the reality is that trading is often a lonely, physically and mentally draining grind. And the losses? They can sting like hell.

Losing thousands of dollars because of a random tweet? That hurts. Losing thousands because of a power outage, a software glitch, or a shady broker? brutal. But what cuts deeper is the gut-wrenching self-loathing that comes when those losses come from a lack of self-discipline. There’s nothing quite like watching months of hard-earned profits vanish because you lacked the discipline to stop yourself from smashing keys like an untrained monkey. That kind of failure doesn’t just wreck your account—It can make you hate yourself in ways you didn’t think were possible.

While it may seem glamorous, successful trading usually means sitting like a half-baked zombie in front of a computer monitor, waiting for a merciful market to offer a trade—maybe once a day, a week, a month, or even a year. What's a typical trigger of these merciful moments? Pandemics, wars, disasters, and financial crises. All the while, there’s a constant fear in the back of your mind: one misstep could mean total annihilation.

It’s not just the market you’re up against. It could be your broker, whose idea of “execution” is quietly routing your orders—and your scalp—to a predatory high-frequency hedge fund that front-runs your every move. Then there’s the minefield of trader education—a cesspool of snake-oil gurus hawking “foolproof systems” and empty promises, their siren songs luring you with visions of effortless riches and a magic fix to make all your struggles vanish.

I could go on—share the lows of my trading career, peel back the psychological damage, and scare you half to death. But I will assume you’ve been warned.

Therefore, the greatest service I can offer is weeding out as many as possible, saving the unprepared and unqualified from financial losses, countless wasted hours, and the mental trauma that comes with losing. Knowing the toxicity and dangers associated with trading, I propose that every trading course and chat room follow my lead and have a similar disclaimer plastered across their ads: “Warning: Trading will likely be hazardous to your health and bank balance!” 

Well aware that smokers and gamblers typically ignore similar types of ominous warnings—and knowing traders are an especially stubborn and determined bunch—I doubt I have frightened off too many. So, for those still standing, let me reward your determination by sprinkling in some hope and encouragement… 

Yes, trading can feel like the worst job in the world on losing days—but on the best days? There’s nothing like it. Where else can you make more money than most corporate grinders earn in a year? But it’s not just about the money. True success in trading unlocks something even greater: independence, freedom, and the profound satisfaction of beating the odds. Every day is a battlefield of fresh opportunities and challenges, and your rewards? They’re earned solely by your skill, discipline, and performance.

And while trading seems quite complicated, it ultimately boils down to having a strategy with an edge and executing that strategy efficiently. Nowadays, many, if not most, strategies can be automated, so with the right implementation, becoming a profitable trader can mean simply finding a strategy with an edge. In fact, I’ve seen novice traders make millions when handed a winning strategy. 

Unfortunately, these golden strategies are rarely shared, extremely tough to find, and their edge can vanish in days–hence the 95% failure rate. These slim hopes of survival, along with the other hazards I listed earlier, are why I suggest, or rather plead, that only the qualified jump into live (real money) trading. The good news for those who meet the qualifications is that the odds of success, while still long, will be significantly higher than 5%. For those who don’t qualify, I’m not saying give up on trading, just wait before you start trading real money. Otherwise, you are the equivalent of the fool going for broke on the roulette table.

So what are the qualifications?

Passion

• Yes, making lots of money should be one reason to trade… but not the only one. The markets will show little compassion for those who jump into trading without the required passion and dedication. If you are looking for a get-rich-quick scheme, look elsewhere!

Also, keep in mind that the most successful traders are more akin to scavengers, hackers, or programmers than finance pros. If your passion is finance and you are looking to be the next Warren Buffet, look for a job in the financial sector instead.  

Capital

• $5,000 is a good guideline of the bare minimum amount of capital to start with, and that's assuming you are getting at least 4:1 leverage. For those without capital, there are other options. Reputable prop firms that provide capital and training still exist. However, these jobs (yes, I said “jobs”) are, unfortunately, extremely tough to come by. Do not get these firms mixed up with these sketchy “prop firms” offering “funding challenges” and such; stay far away from those scammers!

Time

• Even if you are one of the lucky ones who does succeed, it typically takes several years filled with countless hours of education, screen time, and losing. Are you able and willing to dedicate thousands of hours to a quest that you will probably fail at?

Backup Plan

• With a 95% failure rate, no matter how confident or skilled you are, you should make sure that you have cash or monetizable skills to fall back on.

Education

• I’m not talking about where you went to school, because that doesn’t matter; we’re talking trading education. A $50/month chatroom run by the guy posing in front of his Lambo on Instagram does not qualify as education! My goal is to help provide quality education, and there are other resources out there (I will do my best to help you filter through the garbage), but the ultimate education is to be mentored by an experienced/successful trader.

Not only should these criteria be met, but success relies on heavy doses of confidence, determination, and luck. I would also say the environment plays a big role; a trader working in an office surrounded by his or her peers will have a huge leg up. All this is extremely important, but success ultimately boils down to having an edge—and that comes in the form of a winning strategy. Even if you meet the set criteria, I suggest not trading live until you have that strategy and a plan to implement it.

Please be honest with yourself, because it’s never a sign of weakness to walk away or take a step back from trading. In fact, it’s typically a courageous thing to do. For those who do fit the criteria, or for those interested in just learning more about trading, my next mission is to provide some of that all-important “quality education”. In my next post, I will introduce you to the secretive world of “glitch trading”, which I hope will help you find that magical edge-laden trading strategy. Until then, good luck with your trading journey!