The Scam Of Day Trading

[@TheSilentWealth]

"The easiest way to make money, is to tell people how to make money". Best statement ever.

[@ivanklochkov3444]

This is the best description for most modern ads. 😊

[@DubaiiMakavelii]

Thisssss

[@pi1392]

Every youtuber trading guru here.

[@chyeaOGKush]

isnt that exactly what hes doing..

[@Crroow]

Not to forget, all the platforms that exist today, when basically anyone can reach an audience of millions with just a few button presses. We have to wake up and realize that these teach giants have us in an iron grip and makes us dependent, which at the same time brings out the worst sides of people.

[@TriadTradingOfficial]

Daytrading itself is not a scam. But there are a lot of scammers in the industry. My experience and many others have proved it is possible to make money in the markets

[@samuelmunoz906]

Stocks or Forex? What broker do you use? Every single research have horrible reviews.

[@christiancoleman5870]

Do you watch Imantrading?

[@jackthegod9988]

I can’t make it, therefore it’s a SCAM 😂

[@TNG_22]

😂😭

[@TriadTradingOfficial]

Lol yup

[@warmusic863]

get your iq check dude

[@matthewcaskey1051]

@jackthegod9988 it certainly has a lot of strategies and different ways to play and overall it is designed to take retail traders money but you can learn and find success at it as well.

[@abhisarsharma7612]

Day trading is legit for those who have the patience and the ability to ignore videos like this one.

[@philipcarlsson1163]

agreed

[@Drumbeat52]

@@philipcarlsson1163 It's fairly easy, green is profit and red is loss. Hit the button when it's green and if it's on a red downswing hold. You only have a loss if you sell. If it's a good company it is worth the effort. Been swing trading for 4 years and it allowed me to retire early. I am to old to set on a stock, I do not like stagnation andI I like progression. This year I am only swing trading with $10,000 and am setting on the rest in cash.

[@jameslinmd]

Day trading isn't about "feelings". If you trade with "feelings", "beliefs", "lucks", or "hopes", you will lose.

[@arsenalmanic]

its bogus, it's either promoted by scammers or naive gullible fools.

[@Sdm-ot7op]

@@arsenalmanicu just dont know how to do it so leave it alone 😂

[@ramirorodriguez4434]

As soon as he said you need 25k to be a day trader I knew his research skipped over the fact that you can use a cash account to day trade and grow $500-1k account by day trading I’ve seen people “gamble” their account to thousands of dollars risk management and proper guidance is wonderful

[@PhilWong-d1h]

@@mmmtheta4199 yes they do..if you know anything about options you would know thay most traders start off with a cash account

[@mvib1604]

Yeah he's generalizing a bit, abd missing lots of info...

[@Georgek7772]

No he doesn't. You can grow your account by making 3-4% profit daily. Which is not difficult just takes few months to achieve that goal. Start with 1k and be discipline. Don't shoot to the moon. Small profit daily will bring your account to 4-5k

[@joshr920]

@@Georgek77723-4% daily profit 😂 sure buddy. What % profit would that be over a year? Well over 1000%

[@michaelj.pasley5283]

This video is offensive to those who have put in 10s (or in my case 30) thousand hours of hard work and use their trading profits to help people who are struggling. Day trading, if done correctly, isn’t gambling... it’s being the house. The house always wins. The house in day trading is the profitable traders and the gamblers are the losing traders. I’ve won 105 out of the last 108 weeks. Very consistent and that isn’t gambling, it’s just another way to make income.

[@SniperTrading]

just cause you cant do it doesnt mean no one can do it...

[@nvccimvne3744]

💯

[@jackthegod9988]

Exactly he has no idea

[@robertagren9360]

in one day you could been given 20 years

[@Juicememelord]

Statistically 95% of people can't

[@necessaryJustice_4all]

They'res a learning curve, and even then it's returns are gonna be based on many factors. I was pretty good at it, but eveb so, it's hard to pay rent with it unless you begin with a larger nestegg; not everyone starts at margin.

[@nimakaram136]

My biggest win is when I stopped day trading! Day trading is gambling…

[@DubaiiMakavelii]

Really?

[@dillonherrmann7686]

Buddy wasn't cut out for it lol

[@teeball5523]

It's a license to steal by brokers

[@Jacob_S13]

Keep lying to yourself :)

[@quintonmaldonado8368]

He wasnt readyyyyy....it is a scam for you.

[@cscs9192]

The reason traders in comments want you to day trade, is because its YOUR money they live on.

[@thomasstanley3555]

how ?

[@vilemtuma4733]

Because you are the liquidity they need to profit

[@vilemtuma4733]

​@@thomasstanley3555trading is zero sum game-somebody to win has somebody to lose, you are the one who lose...

[@quintonmaldonado8368]

Partially, thats a drop in the bucket compared to institutions at this point. People know nathannnn.

[@justincarl2385]

I'm a profitable day trader.. But becoming profitable isnt easy. Expect to lose money at first. It took 2 years of alot of study, tinkering, ups and downs to finally make 20% in a month. For me, its not about the money.. Its about the trading plan and execution. One more thing.. Long term investing is a gamble as well.. just like anything in life. It works for some not for others.. Day and swing trading has made me more money than long term investing by a long shot. On that note, Day trading is not for everyone. Also.. I dont get a Dopamine rush day trading. Wish I did though lol. Thanks for the video and happy endeavors!

[@Anony584]

Only if you get day trading right, it’s profitable. 8/10 day traders would probably make more with long term swinging or just buy and holding

[@Engagenumberone]

I agree. Day and swing trading is profitable only if you have discipline. Discipline to harvest your losses as well as your gains when necessary.....without emotion. Think about it, the act of just leaving large positions open overnight is the height of arrogance. You don't know how the market is gonna open. It's like leaving your cash in an open safe in the middle of a busy mall, you're hoping and praying that no one takes your money while you're away doing other things.

[@dillonkanerose]

Absolutely golden comment

[@bloxer9563]

@@Engagenumberone I agree but also disagree

[@undueyyy]

If something is too good to be true…it usually is.

[@bingbongho1175]

day tading is not too good, it is very very difficult, if it was easy this idiot wouldn’t be making this video

[@pierre1122]

Good video. I try day trading for 3 monts...when I was young. Il lost 36% of my money ! :) Now I'm an investor,a lot less stressful ! I receive dividends each month. Good video.

[@skillkillzz6399]

MSCI stocks be boomin lets goooo

[@dannyvera8475]

I have been trading for about 11 months now and just about every trade backfires and slaps me in my face. Nearly impossible for me to catch more than a few points. I try to do top-down analysis but it doesn't work for me. I say to myself, clearly, I'm in the 90% that lose money, so I open a demo account, do my analysis, then take the opposite of what I would normally take and get the same result. I'm starting to feel hopeless

[@georgecooper8750]

Your problem could be your stop loss is too close or you're watching your trades too much. Place it and walk away. Or you could just give up, trading isn't for everyone.

[@danieljamal3709]

Don't listen to him, don't give up. Trading takes time, months, even years to master, even the pros learn every day. Nevertheless, if you lose money no matter which side you take, maybe you need to look at how you are managing active trades rather than how you are entering them. My advice, find a mentor. And also, try incorporating the use of oscillators, Bollinger and pivot points into your strategy. And most importantly move to higher TFs(4h or 1D preferably)

[@dannyvera8475]

You're correct, I don't lose money every single trade, but my main problem is trying to let my runners run. Very rarely do I catch big moves. Instead, they go a few pips in my direction, then go against me when I try holding them. Also, my entries could use a lot of improvement. A mentor would be amazing, but getting one is easier said than done. If it's not too much to ask, do you know any legit ones?

[@danieljamal3709]

My consultant is *PRISCILLA DIANE AIVAZIAN* I found her on a CNBC interview where she was featured and reached out to her afterward. She has since provided entry and exit points on the securities I focus on. You can look her up online with her name if you care about supervision. I follow her trade pattern and haven’t regretted doing so

[@henrygarcia1792]

Thanks a lot, I will do that immediately

[@leonardomendoza2126]

day trading if done right is insanely profitable. super hard at the beggining though, almost impossible. you will lose all your money over and over again before you become profitable. I can understand how people can perceive it as gambling because it is gambling, but only when you start and dont know nothing. if it was gambling all together, beginner traders would be profitable 50% of the time and so experienced traders, but it is not. it is all of the beginners who lose money continuously.

[@StenellaFr]

poker is gambling too. but very experienced poker players win most of the time when they play with rookies in the same table. so your 50%rule is valid for neither gambling nor daytrading.

[@MrMartellSincere]

That's Idiocracy to invest into something foolish losing money 😅

[@trade5149]

As a successful Day Trader I love watching these videos. While it is gambling, a successful day traders goal is to control emotion, it isn't to 'ride that high'. If he/she is 'riding that high' then they have already failed. I can totally understand your paranoia. After all 90% of traders fail, and it's hard for the 90% to accept that 10% can do what they cannot. I really wouldn't recommend day trading to anyone who thinks it's a get rich quick scheme. It's a marathon, not a sprint. Edit: a word

[@AlexTuck]

Right. Took me 3 years to figure out a strategy and become profitable. That is why 90% fail they just put money into the markets wherever without any risk parameters or proven strategy.

[@bdml77]

No one cares about your edit.This isn't reddit

[@dandan9175]

I like the adrenaline of day trading. I've been educating myself with books for some years now and started day trading in November. There's a big difference between reading and practicing on a simulator. What you read must be putt in practice otherwise you're just shooting planing to fail. First day was terrible but I got the hang of it fast bks I like what I do. Day trading is not a scam. Those who have discipline, manage risk, and learn from their mistakes survive in this game.

[@30Secretzzzz]

Everything he said was correct, BUT only applies to people who don’t know what’s going on. A professional will make it hard to blow an account because he knows exactly what he’s looking for & has protocols (specific instructions) for when things don’t go as planned. It should indeed be boring, if it isn’t you’re not ready yet 🤷🏽‍♂️. Great video btw.

[@eternalmastery]

Keep telling yourself that 😂

[@quintonmaldonado8368]

Tell yourself something long enough it might become true. Don't listen to work tongue. Im glad i didn't listen to people but it took me alot longer than i thought it would.

[@therzook]

when you are afraid to trade or to hold a position, means that risk is too high and have to immediately close your positions. Do not ask me how I know...

[@BrianWeber]

Very well said! The emotions are definitely one of the main reasons a lot of people fail at day trading. Swing trading and investing long term are so much easier on yourself and the people in your life.

[@rileygshep7606]

Just like how profits can compound like crazy over time, same will be said for losses Having zero risk management will lead to you blowing accounts left and right even with a system that you can be profitable with

[@travisg9294]

Day trading is very risky and if you throw too much money in there you risk getting kicked out. It's good job if you know how to spot bullish stocks with their lows and highs, but don't expect to make over a thousand a day, and if you do, thankfully you weren't kicked out of the stock for not keeping a balance.

[@Kenny_Shillinglaw]

Investing is gambling, it’s just holding and hoping. Day trading requires discipline but if the stock doesn’t go what you want, you can just get out. You control when you sell. Most people aren’t disciplined and that’s why most lose

[@p.p.8624]

Investing is not gambling. The odds are not the same. It’s good to know what you’re talking about before holding an opinion.

[@Kenny_Shillinglaw]

@@p.p.8624 no, investing is holding and hoping. As a day trader, if the stock doesn’t do what you think it will, within a few minutes, get out. You don’t have to rely on hope. We are looking for quick predicable moves

[@cscs9192]

​@@Kenny_Shillinglaw If you get out to early and to often, you will end up losing your money to the broker (spread and other fees), and waste a lot of time. Not worth it.

[@Kenny_Shillinglaw]

@@cscs9192 that’s not true either. No one here commenting actually day trader otherwise you wouldn’t have said that. Selling often doesn’t mean you make less money and the spread doesn’t matter if you are trading liquid stocks. Day traders stay away from wide spreads.

[@Kenny_Shillinglaw]

@@cscs9192 there are also no other fees as long as you aren’t using margin. Which is the same as investing. Investing, you have to pay interest on margin daily.

[@isaacsaenzsmct26]

You should only be trade if you genuinely love the idea of trading and the way the markets work. DON'T TRADE JUST FOR MONEY BECAUSE YOU WILL FAIL.

[@Re-bl5sr]

Don't trade just for money? Why else would you trade? I'm not trying to be smart here - I want to learn - but I can't think of any other reason why you would trade but for the money.

[@isaacsaenzsmct26]

@@Re-bl5sr Passion

[@isaacsaenzsmct26]

@@Re-bl5sr Note: this is for beginners/newcomers. The best way to go about it is just treat it as a hobby at first, and if like it (meaning you like every single asspect of trading, whether that be looking at the charts, looking for patterns, marking up S&R levels, ...etc.) then continue doing it. if you continue to hate it and don't love it at all and you just want to make money from it reconsider if it is for you or not. Just for example, you have to love it the same way someone loves video games.

[@isaacsaenzsmct26]

@@Re-bl5sr I know money is the main reason we trade. I mean why else would we be trading lol? What I'm trying to say is that it can't be boring while you're doing it. When people have that experience, they most likely will give up in the beginning.😎👍

[@basseverexclusive8047]

​@@Re-bl5srits like u dis something opposite than typical people do..

[@arielaw4]

Yes there are a lot of misconceptions about day trading. Which you addressed kind of. Day trading is real, but don't expect to be making any money before 2-5 years. Day trading shouldn't be emotional, and it can be quite boring. It's a lot of waiting around and being patient. Most people don't last long enough to become an actual day trader. They quit after they realise how hard it is, and that it's not a get rich quick scheme. It's a difficult skill, but most people think that there is no skill involved, or they can become a master after 6 months of learning. What other skill can anyone become a master of after 6 months. It makes no sense. If you're not extremely passionate about day trading and are willing to dedicate years of hard work, then day trading is not for you.

[@jeromemayer7364]

Agreed. He is a good communicator, but very biased and one-sided.

[@noyce.]

Facts, you can't just put in 1 hour of work a day and expect a salary of someone working 9 hours a day. Plus no one with proper emotional control and discipline would average down or keep on holding on to a loss PRAYING that it'll bounce back like what he said in the video, that's just pure gambling. The videos feels really biased. Like just hopped into the hot topic for some clout before doing more research. It's like saying x% of the people who start a business loses money or close down after 1-2 years.

[@greatestever7623]

Sounds like a big massive scam that these fools and losers are dedicating their time for

[@atmanp3380]

Im glad I don’t listen to anyone other than positive traders

[@sft115]

arielaw4- PERFECTLY SUMMERISED! how on earth can ANYONE LEARN hard knowledge proffesion in few months ...ONLY SILLY PEOPLE salivate and fantasize WITH GAMBLERS mindset thinkiing its like lottery...in REAL life thou my gambling addict friends( please i beg you seek help) IT TAKES YEEARS and YEEEEARS of HAAAARD sacrifice like in all high end professions...but gamblers wont get it until they admit their issue and GET HELP and leave your wifes money alone!!

[@Jasem89]

If it was easy everyone would be rich, just think about that.

[@paulnyagini]

If it was easy they will not allow retail traders to trade

[@trumoomoo]

Be wary of anyone who speaks in absolutes. Day trading is not a scam it is a skill set that can be developed it takes a lot of discipline and is not for everyone. You should invest long term first and understand that it's not an easy thing to learn to day trade many people make a living day trading but its not for everyone

[@wethepeople2749]

no not many, most traders lose.

[@trumoomoo]

@@wethepeople2749 true but a large group of people try to trade and most fail but there Are many people who are traders for a living. Just as most entrepreneurs fail but there are many people who make their living as entrepreneurs. Training is a dangerous thing but I just don’t want to dissuade someone who has a passion for it because it might be the path for some

[@trumoomoo]

@@mmmtheta4199 Hey man barely does mean you have met some people who have done it. and all I'm saying is that it's possible to develop the skills to be a successful day trader. I admire that you took the chance to learn and try. I wish you the best of luck in whatever you choose to try next.

[@jasondinh5603]

What are the success rates of real estate investing? opening a restaurant? drop shipping business? hell, even a college degree? Who says you can’t invest for long term and day trade? You don’t have to risk much to find your edge.

[@TriadTradingOfficial]

Yup, to be successful in anything is still the top 20%. Daytrading is no different

[@sidewinder29101983]

This guy as most people do not understand what day trading is. This helps the scammers.

[@omerabdalaziz8593]

If you use proper risk management, you shouldn't lose that amount of money. Let us differentiate between gambling and trading. Any trade should not risk more than 1% of your capital. This 101 lesson in the actual trading profession .

[@asmranonymousgaming901]

You have to humble yourself when you trade. Remove all emotion from it. Focus, study and try and learn as much as you can. Every failure is an opportunity to learn.

[@Sswervyy]

exactly

[@greatestever5634]

Learning as much as you can in trading is a double edge sword. It will most likely cause paralysis by analysis. The best is really to learn about 3-5 strategies and back test. When you know the wins percentage that's when you put your head down and focus on them. If the percentage will result in capital loss than tweak that strategy until you get a good enough W/L ratio to be profitable. That is if you want to be a systematic trader.

[@jesseterry11]

One thing I found is if you can't consistently grow a 100 dollar account and build it consistently what makes you think you can grow a 100k account. Do not throw big amounts of capital in if you know your discipline is not good. All I can say to try save someone from screwing up

[@Zzzinvestor]

I love mikey taylor and i used to be obsessed with his DVS skate more part, but he is completely wrong here. Yes there are alot of “selling the dream” scams but they are not all scams. Day trading is very possible and i know this because i’ve been day trading for years and i lost a lot of money. But now i am finally profitable because instead of worrying about the money i started to put every effort into actually learning the skill and back testing my strategies with a paper account then gradually sizing up my position sizes so i could learn to control my emotions. Now looking back at it i wish i wouldve taken it seriously at first instead of just thinking i was just gonna get rich quick. And also if you have a cash account you can make as many day trades as you want as long as you wait for the funds to settle. Day trading isn’t a scam at all its just people don’t actually take it seriously as if its not like any other skill or craft. So the people that fail at it are actually just scamming themselves. Im a big fan of mikey taylor but this made me loose a bit of respect for him. I actually plan on making a video about certain “gurus” that are actually selling a scam and i will also make videos on reasonable day trading strategy’s that are somewhat easy to learn and if followed with proper risk management, can easily make you profitable

[@jamalsmith5073]

Book more on profiting from dividends than betting on stocks.

[@sbs8179]

Its the hardest way to earn the easy money- day trading

[@Sensei__Nate]

It all just comes down to the ancient argument passive investing vs active investing

[@elizabethlaura6811]

MRS HANNAH IS LEGIT AND HER TRADING METHOD WORKS LIKE MAGIC I KEEP EARNING EVERY SINGLE WEEK WITH HER NEW STRATEGY

[@festusshedrack4852]

Wow I am just shocked someone mentioned expert Mrs Hannah I thought I'm the only one trading with her,She helped me recover all I lost trying to trade myself

[@mercy1249]

I think that she is the best broker I ever seen...her method is nice thanks for introducing me to Mrs Hannah

[@wizard5219]

Mrs Hannah is obviously the best, I invested $2,500 and she made profit of $14,000 for me just in11days, She's awesome ♥️

[@JenniFer-wx3rx]

I still wonder how she gets her analysis, I got profit of $28, 609 with a capital of $4000 in 16 days of trading with her

[@dralex452]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Hannah

[@josiasmoulton5964]

Broke it down well and cleared up a lot of misconceptions

[@theredpriest]

I've done it for 4 years now. You're not going to get rich quick. You'll lose more often than you win. And even when you set a price to pull, that's still a loss. I've managed to make it profitable, but not enough to quit my day job. You can only "win" as much as you're willing to lose. Unless you have thousands or tens of thousands to throw around you're not going to make much money. And MOST PEOPLE don't have those kinds of resources.

[@markmcgwiresbackne5705]

Listen, you can participate in markets a lot of ways and become successful. The long term fundamental guy isn't going to be the hyper scalper, the backside low float guy isn't going to become the international arb guy who isn't going to be the quant guy building models. .People that seriously trade markets participate in the way that fits they're style of trading and where they have found success. This fella really discredits himself with his statements and I'm guessing if asked specifically in detail how he makes money in markets he couldn't tell me.

[@joeblowjohndoe206]

Translation... "trading for yourself is risky. Give your money to me". Typical salesman institutional investor. You are incurring risk in everything you do. With this theory there would be tons of people who would have never succeeded. Starting a business is just as risky. Most people lose money for the first 5 years in any business. That is definitely not a reason not to open a business. I bet those same stats could apply to most careers. There are billionaires that have lost more than that and recovered. There are endless stories about people who spent their last dollar to start their business. My dad was one of them. If 1 person can do something you can do it. I had to turn down the video while writing this because your negativity made me sick! Don't give up on your dreams because of this guy. He knows nothing about day trading. He should quit driving because it's incredibly risky lol. Never trust a grown man that says he loves tiktok..

[@nylixneylix8785]

Don't compare trading to "starting a business" It's like saying "Oh I just started a business" and a person asks you "What is it?" Oh I'm a gambler.

[@joeblowjohndoe206]

@@nylixneylix8785 yeah.. unfortunately I learned this the hard way. Got out before I lost too much though lol. Day trading is a scam.

[@kyleherschend8128]

Daytraded 4 years. It’s extremely difficult to be consistent based on technicals. And fundamentals are BS. It’s not a very rewarding experience. It really is gambling, and takes advantage of the dopamine highs of success. And the depression of losing trades draws you into bad trades to make up the losses. In other words, your emotions are constantly being jerked around. Add to that fact, that big banks and hedge funds use complex algorithms and machines to assess the markets and react almost instantaneously, that it’s almost impossible to get ahead of an event or major move without chasing the price action. The odds are stacked against you. Buy and holding is really the only way to make money. But, that’s not even a guarantee, as most people don’t even know how to properly value a company based on its financials. Buying stuff you don’t understand is stupid. You’d be better off investing in your education, or buying real assets, such as real estate or collectibles, or even commodities. Simple things that you know and have experience with. Wall Street is really crooked, folks. I’d stay away from the market casino, because that’s all it really is.

[@matthewcaskey1051]

Pattern day trading is only for Margin accounts, you can do a cash account and now every single day your account settles and you can trade your entire account each day.

[@eddiexpharo]

You can loose your whole account in a couple of months. A good day trader just waits for entries. When they are their we jump. If it's not their don't. You win good you loose. It's an investment. Like you said. Not fun. If you want to have a rush from trading and making big mo ey. Vegas would be a better choice.

[@whgodseywillgodsee7988]

The key metric in stick charts is volume. On a stock candle chart their is another chart below of volumn bars. On that chart the giant spikes are the buys & sells of the institutions. They set up the market up and downs that produce the chart pattern signals to which retail traders are trained to respond. They see transparently where the buy and sell orders are concentrated. They then use big buys & sells to scoop up all the retail money by first triggering the retail buy orders at high prices then executing their own sell orders driving the price down till it crosses below the retail stop loss orders. capturing all the retail trader stocks below what they paid only to drive the price back up to nominal by the big spike instutional buys.

[@tonyrichmond9428]

Ahhh, but 100% of PROFITABLE day traders make money, so just be one of THEM!

[@_Alfa_Channel]

Anyone who puts skating first and finance third on their interest list is someone who has their life in order and is worth listening to! Skating is far more dangerous than day trading. Mad Love bro!

[@amymello7481]

It appears you haven't day traded or haven't done it successfully. As a day trader I don't lose more than I am willing to because I sell before loss is large. 1% gains reinvested at 100% compounds to extraordinary amounts. So a few trades a day with a 1% gain and your done for the day. You don't have to stare at the charts alllll day. And to get around the pdt rule you can day trade crypto, no rules and open 24/7.

[@Real-Life-Guts]

This is the equivalent of a Sports person telling you how you shouldn't even try to be a an athlete, after all only about 1% become professionals, and out of those only 3 win medals and are on the podium.

[@danielbrink9475]

It's possible but influencers make it look too damn easy, they set up false expectations you get ****** if you're not profitable in a week when it will take you years to even break even if you do it right.

[@starboysavage2393]

I’ve been trading for one year now. Honestly I’ve made few dollars. And margin call a lots of times due to when I entry it goes away from the direction I want it to go. And when I said okay maybe it’s a wrong order and I switch it still doesn’t go my way I feel like the broker is scamming my moves.

[@nylixneylix8785]

Market goes where the market wants to go, Broker doesn't care if you win or lose. he makes money by spread and commisions.

[@fishyKRIMINAL]

What if your using day trading as a stepping stone to buy real estate?

[@jakedillon9554]

i think day trading temporarily and not as a longterm strategy wouldn’t be a necessarily bad idea

[@Lesi030]

that is exactly my plan

[@ghandidaniel]

You're right daytrading is stressful and hard but not impossible. It is very rewarding and life changing if you master it. But you will have to dedicate yourself to it 100% cause it has a big learning curve and you need to be well aware of you're emotions and keep them in tack. So if someone would ask me how they should invest? then i would agree what you're saying with investing long term

[@milanvasarhelyi]

It is close to impossible on an individual level, you cannot compete with hedge fund teams. Those who are consistently profitable on established markets are never individual traders.

[@chriscc14]

@@milanvasarhelyiyou're under the assumption that your direct competition is a hedge fund and that is absolutely not true. you can learn to trade with hedge funds, using order flow.

[@supportmyresistance]

Day traders can calculate risk. Long term traders cannot. Every position has stop loss.

[@Tr1Hard777]

Just know there were people "investing" in companies like blockbuster and kodak and sears in the early 2000's Tell me how that went?

[@jayg5888]

Some made money

[@lostconciousness4255]

you are better off just doing real gambling...which you always lose anyway.

[@2d271]

The man who doesn't understand trading is telling us (traders) that trading is useless. Well, funny thing, especially watching this as a professional trader. What is impossible for you is just a daily routine for others.

[@2d271]

By the way, traders make much more money than investors.

[@icceym1102]

Can you teach me how to trade.. Or point me to videos that might help

[@liquorcofficial5561]

@@icceym1102 ICT

[@liquorcofficial5561]

@@icceym1102 that's his name very good trader, a little big headed but his stuff changed my trading alot

[@icceym1102]

@@liquorcofficial5561 that's his name on KZbin?

[@hassanfarukh-5854]

My return of investment in day trading last year was 32% I stopped day trading and now just investing in less than 1 year I am already with 211% floating profit. Thats why I dont day trade anymore.

[@workload3681]

I don't understand why Mike is going deep dive into day trading, because he obviously doesn't know anything about it. He is giving the standard "investor's" interpretation of trading-- but investing and trading are completely opposite. A stock trader has a completely different mindset than an investor. I mean yes, it's true, most will fail, but 99% percent of people trying to trade have no idea what they are doing. How many hours does a pilot have to have before he/she can captain a plane? How much mentoring does a physician get? When an ordinary person goes into the market on their Robinhood account, that's like playing Lebron 1:1, or returning a serve from Roger --- you're probably catching an L. Short-term equities trading is extremely difficult but not exactly for the reasons Mike talks about. And what is he talking about when he starts talking about "don't do it because of the stress" -- what effing job isn't stressful? Oh, wait, Mike's a professional skateboarder. Who do you think there are more of in this world, Millionaire Daytraders or Millionaire Pro Skateboarders.....

[@arielaw4]

Well said

[@thechickenduck8377]

The reasons he discusses are the obstacles I had to overcome over the past 8 years. Mark Douglas (R.I.P.) eventually helped me become consistently profitable. Day trading is not for everyone, just like any other difficult thing in life. Edit: exactly what the videos says at the end applies to day trading- it’s a long term mentality. Many trades, with weighted risk-reward, not a quick thing to accomplish. Enjoy the journey.

[@Tr1Hard777]

Wow me too. Mark Douglas taught me to trust the process and that anything can happen after you enter. Trust your edge and when you lose it's not your fault just like when you flip a coin and you wanted to get heads but you got tails it's not your fault losing is built into the plan.

[@kamalalmatari6958]

@@Tr1Hard777 Thus, it becomes a gamble

[@basseverexclusive8047]

​@@kamalalmatari6958its not a gamble if you keep the odds in your favor...

[@johnouellet4099]

Investing is a long-term goal, but most are trying hard to grow their account, and most people want to do that as quickly as possible. The more I invest the more I learn that Patience and slow and steady progress wins the race every time! Every time I try and get rich, I am almost always punished with the loss.

[@LifeWithRilla]

You told the reason why people fail at day trading. Finding consistency is hard and most day traders quit before 2 years when this is something that will take 2 to 4 years to find consistency and grow the skill of doing. People expect some overnight transformation when that is not the reality. They're gambling. If you have a long term mindset to learn then it could be for you if you're okay paying market tuition and learning.

[@TheTaquitoProject]

Except studies have shown that day traders don’t tend to get better over time.

[@bassfan71]

False. There’s plenty of studies published online that debunk this.

[@chocotv3573]

Agreed! Day trading or Option trading lose money at the end. You get old quickly staring on the monitor bcoz of the emotion in the market. Option trading is even worst regardless what strategy you use bcoz nobody can predict the market.

[@Meginnis31]

It’s tough but possible, and life changing as well.

[@nocomment6421]

No its gambling

[@Meginnis31]

For most yes, but not the few that can do it professionaly for a living

[@nocomment6421]

@@Meginnis31 there are none. The one making Money are the scamers that gives Seminars "how to daytrade" while losing money when Trading

[@Meginnis31]

@@nocomment6421 I day trade for a living and am not a scammer lol

[@nocomment6421]

@@Meginnis31 you are lying and we both know it lol

[@jayg5888]

It's very risky, YOU SHOULDN'T avoid it. GET EDUCATED and stop listening to people who fail at it or don't know how to trade.

[@ThevineGospel]

He is right, odds are stacked against you. I Lost 85% of my original investment my first year, he is correct. Second year though, I am up 250% from original investment, and climbing. Dont listen to these guys, they are not traders, online opinion slingers. Practice Risk Managment, have Rules, control (be mindful) your emotions. Greed is the greatest killer to traders, be mindful.

[@rileygshep7606]

Emotions, no proper working and tested plan, lack of risk management is what will make or break a trader no matter how trade, whether you day trade, swing trade, position trade etc

[@ukdrilla8553]

great but if your down 85% then as is some seriously bad risk managment. But i can't really spreak for you as im a forex day trader not stock day trader

[@nylixneylix8785]

@@ukdrilla8553 Forex, stocks, makes no difffrence. It's a price going up or down.

[@leewedel2139]

If you have a plan, a set stop loss and can manage risk/reward, you can be profitable.

[@sonny12681]

You can make more money on a long term investment that pays dividends.

[@elliotnyberg9332]

I dont like daytrading but i do on the other hand love developing algorhytmic day trading strategies and backtest them. You need to enjoy it not just try to earn money

[@robertdz2381]

Day trading is not for everyone. Statistically, only about 2% make it.

[@FranklinPiens]

Yesterday I saw a raven, a jackdaw and a crow, thus all birds are black. All you are saying is that 80% lose the first year and 75% quit within 2 years. That's like saying a student who studies medicine costs more lives than saving when he goes into an operation room. Duhhhh...

[@opannefrank1986]

If you really ARE a successful day trader, you wouldn't care about this guy's opinion. You would be day trading and making money and not worrying about what other people think.

[@ABpluseAB]

I thought this guy was going to say a bunch of garbage, but he is right.

[@jcgroupsjcgroups4515]

Perhaps he has a few good points. Discipline and knowledge are essential. Don't let this video scare you, but don't jump in the deep end if you don't know how to swim. Learn to use indicators correctly and do some market research before jumping into a trade.

[@tomworrall190]

It seems you’re saying stay away from something because few succeed, it’s stressful, emotionally charged? That describes most top professions. You’re just describing why amateurs lose. They’ll lose in any profession. The advice should be: get adequately trained, practice for years, then you can be a professional. I didn’t expect to become a doctor within weeks or months. Just because anyone can open a trading account, we’re forgetting it’s a profession like any other. The minority who make a living trading demonstrate that.

[@haywisemichael4509]

On his perspective, he's saying nonsense! There are alot of day traders still making huge profit every single day. It's all base on experience and how knowledgeable you are into the market. Day trading isn't bad at all and it's never a scam!!

[@alejandromartinezjr.3845]

That's why I swing trade 😌

[@pleiadi666]

❤

[@FiveBetFold]

This is why I night trade

[@ElOrarca]

Statistics say that 80% of day traders lose money, but these statistics are based on a very heterogeneous group. The statistics can vary depending on the group of traders analyzed, and success or failure in day trading depends on multiple individual factors

[@SunsetRC]

Its probably much worse than that. I would go as far to say like 99% are not long term profitable.

[@RobFrank22]

These are the ppl that want u to keep ur stocks during a downturn so they can borrow them to short them (put options)

[@wikissek]

I never seen a dumber video😂 Good job, I had fun

[@The_channel_of_channels]

I think you are jealous…it’s investing in the sense that you generate profit.

[@paulnyagini]

I bet he is trying to sell a course

[@merchpublicschool9331]

I agree with every single point you made, except for the pattern day trader rule, it does not apply to cash accounts. But this is in no way an argument in favor of day trading. Most people would lose money. Those on KZbin showing their success -if honest- are only part of the 20% that are profitable. And even those odds do not reflect reality, because if I have to guess, only about 1% get rich from day trading.

[@DNYLNY]

I have a cash account on Webull and TD and get hit with PDT warnings.

[@mikechacker7228]

Day trading has been bad for 20 years.

[@tvlobo202]

Man idk why people is too obsesed with daytrading, they talk about hard working and dedication but guess what, if you do that on your studies or your work you will earn real money. Most people forgot what is the real pourpose of finnancial market, and its not getting money from trading assets

[@robd1859]

What you don't seem to understand is that long-term investing only works if you're a doctor or lawyer or somebody like that that already has a lot of capital that they can you know get richer off of 2 or 5% of year but for the average person like myself that little old pissy 5% of year is not going to get you rich. You can't put $1,000 in an account and leave it in there for 25 years at 5% per year and think you're going to get rich it doesn't happen. Poor people have to day-trade or learn how or it's called get rich or die trying. Because we weren't lucky or gifted or have Rich parents. Unless you have Capital to invest your never going to make it.

[@annemarita4259]

It started from the GME (Gamestop) stock insanity. That was one stock that was pumped from $3.80 to about $400 with a help of short squeeze. Then everyone thought they can day trade and every stock "goes to the moon". But I had day traded years before that happened. You are giving a wrong idea about day trading though. It's a profession to people like me and has nothing to do with gambling. You need to understand the patterns to day trade, which takes years to learn.

[@enzofrette3131]

When i see that half of the comment section is scammers I’m convinced it’s a scam

[@Raw-nx5mw]

The reason why people lose it because they can't manage their risk and their emotions properly.

[@biomanization]

You’ve really got your finger on the pulse. Few, if none, have such a rational understanding of the situation. Thank you for your sanity and sober evaluation. Can you please give your evaluation of the crypto community and mindset?

[@Factss_101]

Misleading title! U could've said " day trading is 99% risky", but scam? isn't the way to describe it .

[@thomasanderson4533]

IF TRADING WERE A GAME OF CHANCE IT WOULD BE EASIER TO WIN. TRADING IS MORE THAN GAME, TRADING IS MANIPULATION AND PSYCHOLOGY.

[@paulnyagini]

Is still a game of chance manipulation and physiology does not change its nature.

[@ogbotormatthew6878]

I don't know about anyone else but i personal quit day trading because of the experience i had It opened my eyes that day trading is just not good and believe me when i tell you there is no strategy in this world that i know of that will enable you day trade because the market is random and you day trading is like deciding it's every goddamn move no matter how little that move may be, which is so damn impossible if you ask me

[@ogbotormatthew6878]

I mean u can try looking at the market from a weekly perspective (which is what I'm doing right now) which is better but looking at it from a daily perspective is just not it

[@Aussbosstrading]

The odds are even LOWER if you want to become a professional athlete. Trading can change your life. I think he’s just upset he never had the gumption to day trade and to CONSISTENTLY keep going even when you’re losing money. He’s speaking to all the people that don’t manage their risk and blow up their accounts. Trading isn’t gambling if you have a tested and proven strategy, you have to let your system play out the odds.

[@colinrussell2017]

Where can I buy your course?

[@basseverexclusive8047]

U will not understand if u never work out at highest level of what you do in your life.... I promise u wont get it until u reach that level... ​@@colinrussell2017

[@mrtrock_gaming1489]

​@@colinrussell2017 in afrika

[@Life_is_a_scam]

I Lost 18k 😢😢😢 what this man is saying is true 100%

[@Lonewolf_Fx]

Lol, u obviously didn't know what u were doing

[@johanhernandez6555]

You're just too weak to be a day trader

[@landlord5552]

All people are bias, looking content what they want to listen, me too ofcourse.

[@Mornys]

Good advice for most people... but I'm not most people.

[@matthewcaskey1051]

I have to say that it is not for everyone 90% of traders lose money that said it is because people gamble the market vs playing a strategy.

[@BearThatSwings]

How do you know that everyone doesn't have a strategy

[@RobFrank22]

Long term is fine if u have money in the first place, but if ur starting small trading is the way

[@honestgummygum8467]

I hate this argument because people only say it’s a scam because of how statically improbable it is. But what’s crazy it’s that it’s just like going to the NBA most dream of it and spend a lot of time chasing this knowing the statistical probability yet there’s no blink of an eye now I will agree long term investing is better than day trading but don’t undermine people trying this path too. The people who say it’s a scam or gambling are the same people who wouldn’t stay outsaide during lightning because you know even though statistically improbable you can potentially get struck so how can you not believe someone can make money daytading?

[@ChisomValerian]

You just explained why trading isn't for most people who are pumped to make short term money like quick money , cos it is not, it's a business and a stressful one when u play ur odds wrong , and then the influencers want to bring the industry down

[@ryanhawkins4499]

If it's gambling why do we need to pay taxes ? They don't give us money back if we lose so why are they getting a share of mine