This video is about trading (buying today, selling tomorrow, buying back in next week and so on), not investing. There is ample literature which makes it crystal-clear that: 1) Trading is conducive to losing money in the long run 2) Investing is conducive to making money in the long run Thus, I'd strongly recommend investing and never (ever!) trading. To better understand this, please check out NeverTrade.org when you get a chance to.

Appreciate the offer but I am all set

Thank you :)

Glad you liked it!

What if they promise to be responsible? :D

Ooooops :(

Apologies for that

Always happy to hear that :)

Hope you ace it! :)

Correct!

You’d think it’s common sense until you have some idiot try to convince you that value is derived from labor alone.

Two questions: 1) What is stopping you from booking a profit or taking a loss at your own discretion when trading? 2) What do you mean by "typically predict outcome"?

how can you say this, you do have control over the chart, 72% just because you aren’t profitable enough you discredit this industry, it’s far more profitable in the long run than sport bookies will ever have you, always remind yourself it’s been you rolling the dice, no forced anyone

What do you mean by "you do have control over the chart"?

Glad you found it useful! :)

There are plenty of get-rich-quick trading gurus to subscribe to and plenty of shiny new success videos filmed from rented mansions, with rented supercars. I realize I cannot stop most people from getting scammed and ironically, some of them will be judging me and calling me names while literally embarking on a self-destructive journey and defending the hand that robs them. That doesn't mean I won't do my best, just that it'll be a rather thankless endeavor... but hey, I'm used to it to the point of masochism. so it's all good ;)

It's created only to profit brokers, governments and big time investors. They feed off small investors , it's a zero sum game ,if one person makes a profit another one books a loss. Most people think that they are in the top 5% who make the profit but they don't understand that this is just a flaw in their psychology. Most people are in 95% . The top 5% are ones who follow strict rules and have plenty of money to trade and a bunch of experience in this field. Thank you for spreading good information.

Reminds me of a scene from The Kominsky Method, where the character played by Michael Douglas was an acting coach who in a moment of honesty while he was giving a lecture to a room full of students, told them that his honest advice would be for everyone to go home because chances are only one of them will end up becoming a professional actor who can earn a living this way. Nobody left. Why? Because even when presented with cold hard facts with respect to the ultra-low probability of him making it, the Average Joe still thinks he's going to be among those select few or even the chosen one if only one person is to succeed.

Happy to hear that! :)

Does it revolve around compulsively spending money toward an ever-elusive goal despite being at an immense disadvantage compared to those that proverbially make it?

@@OneMinuteEconomics Compulsively spending money no but compulsively spending time yes at the disadvantage of not following a trade or higher education that has proper chances of ROI. There’s also an immerse disadvantage given the importance of genetics in sports and especially the NBA. Competely dismissing an industry is plain wrong, what you could do instead is talk about bad practises in that industry. In NBA is not living healthy or not exercising and in trading is not studying markets in depth or understanding propabilities.

Wouldn't you consider the NBA, to stick to your example, a lot more fair/transparent when it comes to setting expectations? I understand where you are coming from with the idea that professional athletes, just like let's say popular singers and other examples, represent unlikely success stories... nothing wrong with that. But it's not an apples to apples comparison to trading. Because here, you have an entire industry optimized for the fleecing of retail market participants: 1) Gurus who pretend they are successful traders despite making their money by selling the dream to others in the form of courses, mentorship and so on... hard to "pretend" to be a top NBA player or singer 2) Carefully-crafted ads by brokers who lure you in and sell the dream not directly through something like a course but rather indirectly by getting you hooked on trading, preferably on their platform 3) Your trading data being sold or otherwise used to your disadvantage, in a manner that ranges from immoral to illegal ... and so on. While there are similarities between let's say a successful NBA player and a successful trader with respect to how unlikely it is to achieve said success, I would not say the careers themselves and the industries themselves are even remotely similar.

@@OneMinuteEconomics I agree to most of your last reply but before I was commenting on the premise of the video that trading is a scam (both the title and mentioned several times in the video). As you said, there's lack of transparency which I agree with but does not make the whole thing illegitimate.

Not just the lack of transparency but a wide range of other characteristics of scams. I don't think it's much of a reach to call something that exhibits so many characteristics of a scam... a scam. Why bother trying to swim in these murky waters when life is short and meaningful opportunities plentiful?