The headline is not that trading is hopeless. It's that almost everything sold as an edge isn't one. Of the famous signals everyone quotes, most beat simply holding on roughly half the coins, which is a coin flip you pay fees to make. A few lost money outright. And a small handful genuinely held up, on data they were never fitted to.
The failures died in a few repeating ways. The mean-reversion crowd (RSI, Bollinger, Stochastic) bought the knife: on a trending asset, "oversold" just means cheaper tomorrow. The busy trend-followers (MACD, Donchian) paid the whipsaw tax, catching the big moves and handing the gains back one crossover at a time. And the famous ones people trust most (the golden cross, the 200-day) turned out to be coin flips in a respectable-looking wrapper. Our own research died more quietly, mostly overfit to one regime or killed by costs once tested honestly.
Beat holding across most coins and stayed ahead out-of-sample. Not money printers, and past results still aren't the future, but they didn't fall apart the way the famous ones did.
Beat holding on four to six coins out of ten. You can't tell the result apart from luck, and you pay fees for the privilege.
Lost money outright, or beat holding on three or fewer coins. Including the extra tweaks and filters that were supposed to help and didn't.
Soon you'll be able to run your own strategy through this exact test and see which side of the scoreboard it lands on. Get notified when it opens →
Or see the trick behind every "amazing" backtest first: how a backtest lies →