is Day Trading the same as Gambling? 🤔🎰🎲♠️♥️♣️♦️

[@vvv5702]

I used to block his ads, I listened to this man for 15minutes, he said something that change my trading style, that was 2 months ago. I’m up 2K less than a month. This man is legit!!

[@DaytradeWarrior]

Awesome, appreciate that AV!

[@kimh.8176]

Do you mind sending me the link to the video or explain to me what it is? I love learning different strategies

[@vvv5702]

Kim Huynh Go to his channel. He has bunch of videos, talking everything about trading.

[@kimh.8176]

A V thanks!! I’ll check him out

[@RG-in7ks]

@AVLRECORDS Been day trading 3 weeks, I now own Jeff Bezos.

[@sebabrown775]

Yo Ross. This video was put together with a lot of creativity. Same subject matter but different venues as if it was one continuous monologue. I love it, man!

[@DaytradeWarrior]

Glad you enjoyed Seba, thanks for the feedback!

[@markgomes4474]

These words are absolute gold! I've been critical of you in the past Ross, but this video resonated with me

[@DaytradeWarrior]

Thanks Mark! I'm glad to hear it!

[@laroccoloretti8295]

Ross, I agree. Truly. It's a tightrope. But yes it is calculated. Well said.

[@DaytradeWarrior]

Thanks!!

[@guanajuatoestrada560]

Looking successful at my end, RISK MANAGEMENT is the key, and having a GREAT teacher. Thank tou Ross and Happy New Year!!

[@DaytradeWarrior]

YES that's right, thank you!!

[@mtmsxp]

Excellent video. I believe this is where I am. My month stated out green. Now pretty red on the month. What has happened is I see a lot of stuff moving and I talk myself into taking the trade when it is not my bread and butter setup then end up missing the A quality setup. Honestly it’s really hard because I convince myself this a good setup and then it goes against me. Discipline 100% of the time I love that! That leaves no room for guess work. The other issue i have is I don’t have the confidence to take the A quality setups and when I do take it I sell to soon and it works out. Successful trading takes more than having a strategy it takes a strategy and discipline! Thanks Ross this video was excellent

[@DaytradeWarrior]

It happens very quickly, keep at it!

[@mtmsxp]

Warrior Trading thanks I will keep at it. This video has encouraged me to not trade everything I see moving and sit on my hands until it meets all the criteria. I want to be a part of the 10%! It begins and ends with discipline!

[@tradingnasdaq]

Another amazing video from the past. I’m glad you linked it up tonight. So important.

[@DaytradeWarrior]

Thanks Jeff!

[@eagleitrader9632]

way to make me homesick again Ross. that music and view from the drone is soooo relaxing. love it.

[@DaytradeWarrior]

Thanks man!

[@AlexWinkler]

Haha the dog at the end, definitely a trader. (sweet video edits Ross)

[@DaytradeWarrior]

Thank you!!

[@smacpost3]

Nailed it Ross, well said. I think this also helps to explain why the transition from paper trading to live trading is frequently met with failure. The motivation to gamble is significantly stronger when real money can be "won". Planning out the trade before pulling the trigger is a prime condition of my strategy. Resisting the urge to jump in (on the top of the 4th consecutive green candle & just below resistance for example) without a plan (sl, pt, s&r, structure and/or pattern) is the first test of my discipline. I find that analyzing the chart and making the plan strengthens presence of mind, which in turn makes discipline easier.

[@DaytradeWarrior]

Totally! Thank you for your comment!

[@underapf]

I'm so glad and thankful I found this chanel, It's so helpful to to hear this advise.

[@DaytradeWarrior]

Thanks for watching!

[@jessethomas6356]

Thanks Ross! June is too smart to gamble. She always follows strategy! 🐶😆

[@DaytradeWarrior]

Hahaha!!

[@Andrew-td9fg]

I just signed up to Warrior Pro!! I can't wait to absorb all your knowledge!

[@DaytradeWarrior]

I hope you enjoy the classes!

[@rogerroth8155]

Hi Ross, there are elements of luck in both Day Trading and Gambling. However , a Gambler relies on luck without an edge. You have an edge with your skill set along all the things you said in your video. I could have a in depth discussion on this with you, and I hope to be in your inner circle soon. Getting to the Pro content now. Covid Sucks

[@DaytradeWarrior]

Hey Roger, I agree 100%! And I hope to be able to have an Inner Circle in 2021 🤞

[@RaptureReady2025]

“You gotta know when to hold ‘me and know when to fold ‘em, know when to walk away, and know when to run. You never count your winnings when you’re sitting at the table, there’ll be time enough for counting when the dealings done.” Kenny 3:16.

[@DaytradeWarrior]

Love it! Thanks for watching, and Happy New Years!

[@bradleymartinmusic]

100% agree!!! Was up $336 on a trade following my algorithm and got greedy watching the momentum and fell victim to fomo aka gambling - lost $300 of my profits.

[@DaytradeWarrior]

I know that feeling!!

[@justcurious7779]

Bradley, soooo me to a T. Frustating.

[@colbyramsey4525]

Great topic Ross. I have been considering this idea since I first stumbled on your trading videos back in April and watched with no understanding of the setups you recognized, but you saw probable outcomes on which to " place a bet." Set ups are easy to equate to starting hands in poker, and the degree to which you believe they will have a positive outcome; you bet, raise or fold just like taking a small starter position, a large position, or simply passing and waiting for a better opportunity. What I really find similar is the idea that like all traders, all poker players will lose money. It's a certainty. But the ones that make money at it over time are the ones that lose less(risk management), lose better( maturity and introspection) and consider what they could have done differently in the trade or hand( self discipline and study). The study of trading is absolutely and utterly fascinating. Thank you for the excellent content.

[@DaytradeWarrior]

Thank you!

[@yamalet11]

I would give this video two thumbs up 👍 just bc of your dog “girl” aww 🥰

[@DaytradeWarrior]

Haha love it!

[@jacksonrodrigues7533]

I agree with you Ross. The only issue that I see while day trading, is the quick split second decision that you need make when placing a trade when the market opens, and also it’s difficult to keep an eye on multiple stocks at the same time. That’s when emotional impulsiveness take over your intellectual abilities

[@DaytradeWarrior]

yes totally! I agree 100%

[@grandtourbear9497]

It's also a gamble relying on an employer, to want you to show up to a 9 to 5 job everyday, and pay you X amount of dollars for your time, when at any time that job can be gone, in a flash, IMO.

[@alexk3352]

That's a silly analogy. You can't lose money while you're at your 9 to 5 job. Sure, you can get fired at any time, but while you're still there you're guaranteed income.

[@mechanicinvestors9714]

I believe anything in life is a form of a gamble, job, owning a business, or trading, you just have to know your edge.

[@DaytradeWarrior]

That's a great point!!

[@grandtourbear9497]

Alex K spoken like a true employee, congratulations.

[@eagleitrader9632]

@@alexk3352 try truck driving. there are employers that dock your pay if you mess something up. being fired is the last straw.

[@agray4252]

Nice 🙂. Interesting comparison and analogy. I agree trading is based on strategy and confidence and experience. Gambling is different and I thought about this very topic in the past. Nice to hear your opinion.

[@DaytradeWarrior]

Nice Gray, thanks for sharing!

[@jackhudkins542]

such great advice Ross......much thanks!!!!

[@DaytradeWarrior]

You're welcome Jack!

[@freedom1439]

I get into this conversation all the time with friends.....I cant see how people think investing is like gambling.....

[@DaytradeWarrior]

haha it's a common discussion point.

[@echodelta_9315]

Well, investing isn’t gambling but day trading isn’t investing

[@freedom1439]

MunKayNuTz _ Day trading isn’t investing??? You will have to explain that one to me........could you imagine what we wouldn’t have with out investments??? I think people who believe this way, simply dont know how investments work.......

[@echodelta_9315]

Freedom 1 As per google the definition of investing is: expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture. By that definition, placing a bet on the craps table is investing. You are placing money down and with the expectation of receiving money back at a later point. So we need a better definition. When I think of investing I think of holding for a longer point of time than a few minutes, seconds, or within a day. Think of a 401k or Roth IRA. Risk becomes greater when time is shorter but profit potential is higher just like with “gambling” Gambling is divided by games of chance and games of skill. Chance games: slots, roulette, etc. are true gambles the expectation and risk is determined by algorithms preset into a machine or table based off payout tried and expectation is in the houses favor. The user has no idea when they will hit or any way to mitigate the risk. Sure you can hit the the huge jackpot on the powerball lottery but your odds of hitting are in the millions:1 Games of skill poker, blackjack, etc. still have the element of risk but can be mitigated by strategy. You don’t have to play every hand per se or bet sizing can be altered to mitigate or exploit the particular situation. All within the particular deal or hand being played. This is very similar to day trading because we are taking a position or betting expecting an immediate outcome and or return. We use programs to sort which stocks have better profit potential, we study technical patterns, use candlestick charts to analyze volume and price action, level 2 data to see active bet sizes etc. but all the while looking for an immediate return. Poker is no different the hand we play is the stock we are picking to trade or not to trade. We are dealt a situation the community cards akin to the current price action. Everyone then places bets (purchases long or short) as to the future movement new cards to come on turn and river streets followed by more rounds of betting on each street. Each bet, each card tells us more about the unknowable future and we change our decisions and actions based on that incomplete information that is not fully knowable. And, when not at the table we study previous situations, outcomes, betting patterns, hand charts, odds calculations because in the moment we have to “be the computer” to the best of our ability to raise our expected value in each different situation to the best of our ability.

[@freedom1439]

MunKayNuTz _ well if Google says it, it must be true......I wonder why states have a no gambling law, but they allow investing?

[@EdwardOrnelas]

It’s all about Risk Management, knowing when to cut losses and maximizing your upside. Goes from “Gambling” to Profession

[@mechanicinvestors9714]

100%

[@DaytradeWarrior]

That's right!!

[@Oniphius1]

Biggest thing I see is that you can see you winning or losing money with stocks as it happens. Gambling you dont know until the results are over. It would be like if you had to say, Im buying 1000 shares of TSLA today at $420 a share. But you dont get your results till the market closes and only then you can see if you won or lost. You cant do a stop loss with gambling.

[@RaptureReady2025]

World professional poker championships are often the same people around the table at the Finals year after year. They are ALL calculating mathematical odds and using strategies and it’s awesome.

[@bennypoon1506]

This is a really good video. I'll say that it simply takes time to build up the experience and skill set to follow a strategy and I'm not sure there's any way to not make any mistakes from the very beginning. I think one of the points Ross was making was that following a strategy is even more difficult than coming up with one. That's been my experience as well.

[@DaytradeWarrior]

Thanks Benny!

[@michaels4255]

The great thing about trading is they won't throw you out of the casino if you win too consistently.

[@DaytradeWarrior]

Thanks for the comment!

[@Digitonic1]

Thanks for the link guys Strategy and discipline are the keys along with mastering your own emotions master all three and that = Success😃

[@DaytradeWarrior]

👍

[@jacobbolton.]

Thanks for the valuable content! I have really been loving these videos of you on the go!

[@DaytradeWarrior]

THanks Jacob!!

[@CelticsWin7]

Been playing poker 9 years and trading 5 years. There are a lot of similarities between the two, the biggest being risk management. A trading setup will not work 100% of the time. Being dealt pocket aces in a poker game will not win 100% of the time. There’s times you will get lucky and there’s times you will get unlucky. What separates the gamblers from the non gamblers is their edge/strategy. Also that edge will only work if you have a plan in place to utilize that edge, without deviating from it.

[@DaytradeWarrior]

The mental side is certainly similar!

[@CelticsWin7]

For sure

[@samdiehl3830]

No he k know no

[@nickg3794]

Simply.... Yes. Yes it is I make educated bets, higher probability bets at craps and roulette tables all the time. I can also spread out my risk with my bets, use win loss ratios for risk management. (3 losses:1 win) Watching a gap scanner, on a stock you know nothing about, and betting it will close the gap is no different than watching a craps game and the dice roll 10 times before rolling 7. I think the average rolls before 7 out is like 2.52. High probability that 7 is coming next, even though (just as in trading) the probability is the same for each roll, the likelihood becomes more likely with each roll. Just as with a trading plans you wait for higher probability set-ups, and yet it still can go either direction (up/down, vs 7/2-12). People don't want to admit it's gambling because it has a bad connotation. Just like people who drink a lot don't want to admit they're an alcoholic. It's better for you/others to view you as a trader, better to be seen as a fun guy who drinks. I've been both trading and gambling most of my life. I've been successful for years in both, and had times unsuccessful in both. What I'm saying won't be popular, but it will be true. Great video BTW

[@DaytradeWarrior]

Thanks for sharing Nick!

[@WaltersPeter]

Ross you're volging skills are off the hook!!! Love you're videos

[@DaytradeWarrior]

Thanks Peter!

[@michaels4255]

Gambling: the risk is generated artificially. Trading: you are buying and selling risk generated as an externality of productive enterprise.

[@DaytradeWarrior]

Great way to look at it!

[@escapeartist1141]

Of course it is. A lot or most of the businesses are.. the real question really is to what percentage is the gambling part. Like when you invest in a restaurant you are gambling, you even sometimes hear the term 'gambling' in a surgery room! Managing risk, probabilities, statistics is part of business/investment/gambling. But if you master it like Ross, I'd call it an "Art" though.

[@DaytradeWarrior]

The art of trading... hmm I like that!

[@escapeartist1141]

@@DaytradeWarrior yep! when there is passion and purity you become an artist! A good idea for your new book Ross!

[@th3orist]

in roulette for example you have a 50-50 chance to be right, you just throw the ball in that spinning thing and hope for the best. you can't do anything to improve your chance. in trading however there are things you can learn and 'see' and by doing so and practicing you increase the chance of being successful while you keep the chance that you bet on the wrong horse as low as possible.

[@DaytradeWarrior]

Thanks for the thoughts!

[@mikezaborsky4528]

Very nice point, discipline- ALL DAY!!! Thx Ross

[@DaytradeWarrior]

Thanks Mike!

[@RafaelSantos-in9cr]

ROSS YOU ARE A GOOD TEACHER !! Thanks Bro...

[@DaytradeWarrior]

Thank you!!

[@echodelta_9315]

New to day trading and trying to put together the game plan. I have been playing poker semi-professionally for 15 years. Mostly cash games but have played just about every type of poker. Ross’ approach from what I can tell is almost identical to the thought process of a professional poker player. I think it would be cool to see Ross train for a poker session/tourney and Ross to help a poker player into a trader. Would be really cool content.

[@DaytradeWarrior]

Yep the mental side is quite similar. To get started with Warrior Trading join us in our next webinar! It's free to join and sign up and you will receive a copy of Ross' best-selling eBook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup

[@echodelta_9315]

Warrior Trading already did that but holding off for some personal reasons/obligations for now. Will be looking to at least join the chat room in the next month or so.

[@sometimesvegan2290]

Great information. Hi June girl!!!

[@DaytradeWarrior]

She says hi back!

[@WaltersPeter]

Great video!!!! I liked this video!!!!

[@DaytradeWarrior]

Thanks for watching, and Happy New Year!

[@armandobetancourt8488]

Excellent video Ross. As usual u are right

[@DaytradeWarrior]

I think it's easy to talk about, however, sticking to your edge is the hard part for most! Glad you enjoyed!

[@Freedomtrader456]

Thank you for showing us whats possible, Thank you for being an EXCELLENT trader, Thank you for being a disciplined trader, Thank you for having such a great attitude, Thankyou for loving what you do , Thank you for being that virtual mentor , thank you for being charismatic, Thank you for being a great marketer, Everything you do is appreciated by ME if not by anyone else, if i emulate what i see from you my own success is not far behind. Thankyou for those kind words. your reach is great and your attitude is top notch. Thanks again man for this, !

[@DaytradeWarrior]

Appreciate that FreedomTrader, I love being able to share with this community!

[@TwinFlamesTV]

Warrior Trading you’re about to change my life in 2020 Ross! Thanks for being my mentor ‼️❤️

[@madmax5287]

Wow that absolutely correct sometimes when I lose in trade next trade I double the share so I get back what I lost and I lose again and that how snowball day start 👎

[@DaytradeWarrior]

yep i've been there!!

[@VampirusX]

Hoping in trading is like hoping to get paid in ordinary job. If you have built the right mindset you have cope with the biggest struggle!

[@DaytradeWarrior]

👍🤓

[@Oniphius1]

NIce video. I used to have a gambling problem but I don't have the same feelings when trading stocks. Though I am not to your level of trading yet. I will say one thing that I struggle with. As someone with a gambling problem, winning wasn't my problem. It was walking away while I was up. The fact that I am watching your style and I cant do that due to PDT, I do sometimes hold longer than I should. As in for the whole day. But even with a trade on Friday, I took a $400 win instead of a $1100 win due to not selling when I should have. I think this will come with time though. A win is a win and the difference here between gambling is that I still walked away with a win. With gambling, you put the money up and you dont know the results until after the hand is dealt. With trading you can pull your money before its all gone. So even though I didn't take the max gain, I still was able to take a gain. One last thing. I would like to trade more on one day but the PDT is holding me back. Is there a video I can watch on the legal stuff for non US accounts? I don't want to get a surprise by trading with something that lets me not have to follow PDT. I saw your video on CMEG but I just want to make sure I'm not crossing any legal or tax boundaries. Great videos and info though, keep it up.

[@DaytradeWarrior]

Hey!’ I really appreciate your comment! Thank you!

[@Pmz604]

Great vid, thanks for the share Ross.

[@DaytradeWarrior]

You're welcome Paul!

[@stephenrmmaher5047]

Yes it is a gamble yet with much higher odds. This also depends on your strategy as well.

[@DaytradeWarrior]

It sure does, thanks for sharing!

[@readyrok5743]

The difference is having the discipline to take the day off when the setups don’t fit your strategy.

[@DaytradeWarrior]

It sure is!

[@markgomes4474]

So true.....Forcing yourself into positions because you feel you have to make something happen. Then you’re back to gambling.

[@sebabrown775]

Simple answer. If you are skilled in either, you’re not gambling. If you are not skilled in either, it’s definitely gambling.

[@DaytradeWarrior]

That's one way to look at it!

[@PizzaConTodo]

That's one big train of thought

[@DaytradeWarrior]

lol it sure is!

[@chrisphillips1973]

Great video Ross! I definitely needed to hear all this. Thank you sir!

[@DaytradeWarrior]

Right on!

[@NeonCucumber]

Yes - but a trader with a winning strategy is THE HOUSE.

[@DaytradeWarrior]

Precisely!

[@eagleitrader9632]

you hit the nail on the head!

[@RaptureReady2025]

Awesome!

[@alohorung]

Very well said

[@TrevorGray4758]

Gambling is win or lose. Trading is win, lose if you choose or maybe not. That one has no guarantee but there is more possibility than gambling. And there is the wonder and inspiration to check it out. It’s a real job and there is a fine line because it’s ok to do it. Your ok then to say I day trade without thinking about what it actually means. Just like drinking because it’s legal and everybody does it overlooks the fact that it has a bad result. Some survive with no problems. And others die. Your choice. Good luck to you if you read this👍

[@DaytradeWarrior]

Thanks for sharing!

[@CraniumDranium]

Day trading is pretty much a zero sum game whereas gambling, especially in a casino, is a game where the odds are ALWAYS against you.

[@DaytradeWarrior]

That’s right!!

[@justinsherman702]

There are two games similar to day trading. Poker and Blackjack. Everyhing else is the pure unknown. Those two games you can limit your risk and make decisions based off strategy.

[@DaytradeWarrior]

Maybe

[@jshus5124]

I recognized the Kimpton Sawyer hotel in Sacramento! Been traveling for business and staying there, great hotel!

[@DaytradeWarrior]

It is a really nice hotel!

[@storminafrica3247]

Ross, if we open an account with Cmeg, they say on their website that on top of the monthly platform fee, we need to pay for the data feeds. They list about 20 different feeds that are available. I am confused as to which are the ones that we need. Can you give me some clarity on this ? Also, you use esignal for your charts ... does that mean that the Cmeg charts are lacking in some way. Many thanks. Love what you are doing.

[@DaytradeWarrior]

I'm paying about $125/mo in their platform fees. The sterling charts are fairly basic, I prefer esignal/tc2000, etc. The quality of those charts are just better in my opinion.

[@IslemTav]

The highlight and the absolute best part of the video was at the very end! 🐶 😍 Awesome insight, Ross! I need to be ready to answer this question. I know for sure that I will get asked. My family all agree that day trading is not gambling, but I come from a conservative religious circle and have overheard conversations among people who do believe through and through that it is gambling. Thank you for this, Ross! Special hugs and cuddles to June! 😊 P. S. How many days did it take you to make this video? You started at the beach in Miami, gave us a tour through the mall, TWA exhibit, JFK Airport in NYC - tons of places, and finished in your garage at home! 😱

[@DaytradeWarrior]

haha, glad you enjoyed! It was made just after the Inner Circle event, so I was busy traveling!

[@gwills9337]

@Islem Tav If you're trying to have success (in general) but trading specifically, I'd recommend you distance yourself from your family's opinion. You just acknowledged that this is beyond their experience and knowledge, why would you want to add their approval to the list of things you need to be successful - save your breath and your emotional/mental bandwidth. Now, imagine what happens in a few years when your profitable? You might be surprised that reactions you get may not be positive. Keep your shit to yourself, like a professional - and share your wealth and abundance as you see fit, and without expectations on your family and friends.

[@RaptureReady2025]

G Wills that’s exactly what I was going to comment. There’s this thing about wanting to please others, and deep down it’s a lack of self something. I’m learning to set boundaries to control “over giving” and start developing more healthy attitudes. Obviously trading has brought years of built up unhealthy behaviours, mental and emotional baggage to the surface. Now I have an opportunity to work on myself and treat my mind and develop discipline and self control.

[@IslemTav]

G Wills Thank you for your advice. Obviously, I don’t go around saying what I do for a living and don’t depend on it for my success. I don’t need anyone’s permission to do what I want to do. What I mean is, people will find it curious when you’re working from home and you have this extra time, they will ask. On an almost daily basis, I am involved with lots of people. And to be even more specific, I am a pastor’s daughter. I also have responsibilities within the church. So, as much as I dislike being under a microscope, my and my family’s reputation is important. Everyone has different situations. You may be one who is not involved with as many people as I am. It may not matter to you and that’s okay. But for me, even though I don’t need anyone’s permission, it’s important that I provide a clear answer that I am working to make my own income and not taking from the church’s to have the life that I want to live outside of it. That’s all. It’s an answer, clear and honest. Nothing self-gratifying. It means a lot more than you think.

[@juke1225]

One part that’s harder about trading is that when you’re up the stocks don’t stop moving. In gambling when you’re up you have a choice to to just stop exactly where you are at. Things stop for a second until the next hand or whatever it is.

[@DaytradeWarrior]

That's true!!

[@marcmachado9182]

So I feel that investing on sports is similar to day trading. We are looking for trends and angles to gain an advantage picking a side of a sporting event. With trading we are looking for the same thing. Gambling as in the roulette table is 100% totally opposite of Day Trading. Using sports as an investment instead of gambling is the same as trading, if you are just randomly picking a team to win without any research is the same as buying a random stock without research. Both just a gamble. Angles and trends are the common denominator.

[@DaytradeWarrior]

Thanks for your thoughts!

[@loveperfect395]

Beyond just trading stocks... there are strategies and disciplines to remain focused and successful in life. I love this, going to share it on my Christian Facebook Group. There isn't a better coach for day trading in my opinion. Godspeed Ross!

[@DaytradeWarrior]

That's great! Thanks Jeremy!!

[@TheEntrepreneurChannel]

Day trading cant be gambling when there is professional traders who have made it big! Slot players hardly ever make it to the big time. The longer they play the more they lose.

[@echodelta_9315]

By that logic a professional poker player isn’t gambling either. What I think is obvious to what Ross is saying is it’s not necessarily the venue by which you place bets (stocks, cards, etc.) it’s the approach you take to the game.

[@TheEntrepreneurChannel]

@@echodelta_9315 I tend to be on the side of poker as a skill. Luck causes variance but there's a reason top players continue to thrive.

[@Thedirtycat]

@@TheEntrepreneurChannel yes poker is definitely a skill game otherwise you wouldnt have people playing poker for a living. Ive been playing with a group of friends for a few months or so now and ive made quite a bit money because im a better player using a strategy and using maths rather than guessing what to do(gambling).

[@DaytradeWarrior]

it can be gambling if you choose, but for those who are successful long term it's skill.

[@echodelta_9315]

The Entrepreneur Channel agreed

[@kingkatzkontrol]

hey Ross im curious about a certain thing that i dont do and i wanna know if u do it, When im watching the HOD scanner on trade ideas, stocks show up as they are making higher highs and i never have the time to check on them for news, as i dont wanna miss the meat of the move, so i want to know, apart from checking out the chart for technical analysis prior to making a decision, how important is it to check for news on stocks that are showing up on the HOD scanner? Do you always check for news before making any entries post picking them up on the HOD scanner???

[@DaytradeWarrior]

I don't always check for news, typically I will look at price action and volume and decide then on whether I will take the trade or not.

[@G_Mac_Trading]

Great info as always

[@DaytradeWarrior]

Thanks Guy!

[@jobertuy6505]

Only gambling if you base your strategy on hope. In addition, if you let your emotional mind takes over and throw your strategy out the window.

[@DaytradeWarrior]

Yep, hope is not a strategy.

[@iandrake2119]

Been daytrading for 6 years and yes it IS gambling which ever way u dress it up , we do it cos we love it .

[@DaytradeWarrior]

Interesting Ian, thanks for sharing!

[@Thedirtycat]

Ian, if you have been doing it for 6 years and think its gambling then I assume you have just been losing money for 6 years then? Thats a serious question by the way!

[@iandrake2119]

@@Thedirtycat lol, not at all , I make a living from it with some loses along the way , it's my life but anything that requires to put money up and involves a risk is called gambling either way u look at it . Those who say it isnt is just kidding themselves .

[@Thedirtycat]

@@iandrake2119 Yeah I see what you mean. I guess that is true. I guess I always thought of gambling as something where its just based on 100% luck but I suppose if the definition is just putting money into something without 100% certainty of the right outcome then I guess then yes its a gamble but then so is nearly anything in life really. Just like starting a business is a gamble. You can put money into a business or into any long term investments and technically its gambling as you don't know if it will work out or not. At least with trading you can start small and risk small amounts to begin with unlike maybe starting a business where it might require quite a lot of capital to risk on startup!

[@DavidBadilloMusic]

The point is that poker is not gambling the same way roulette or slot machines are... Poker is a game of strategy... sure, there's a dosis of luck involved but it's mostly strategy... Day trading is also a strategy type of activity which involves a dosis of unpredictability (luck?) but where proper risk management will tip the balance your way... exactly like properly played poker.

[@DaytradeWarrior]

I agree 100%.

[@bradleymarais4889]

I think that because of stop loss triggers it differentiates itself from gambling. Also I would encourage people to trade on a compound interest target rather than a daily target. So thinking in percentage rather than $. I don't know if you would agree with this Ross? Compound interest means you can trade with a much smaller amount as well.

[@DaytradeWarrior]

I don't do compound interest beause the market doesn't really allow me to scale up to that extent, but I do hear your idea.

[@reviewinglasvegas8695]

Great video...well said

[@DaytradeWarrior]

Thank you!

[@liztrader5469]

Thanks, Ross! Well said. One of my relatives over the holidays told me trading is gambling, and that I should get a full-time job, lol. How many trades is a good balancing point for accuracy? I believe!

[@iwatchuwhenusleep7168]

Lol imagine wanting a full time job😂

[@DaytradeWarrior]

Hey not everyone wants the freedom, some are happy with their jobs, to each their own! Though I do agree

[@liztrader5469]

@@DaytradeWarrior Agree with getting a full-time job? If I use a strategy like yours, then why would I need to? I am already working part-time and looking for other part-time streams of income. How many trades is a good balancing point for accuracy?

[@dba99985]

I have alot experience with poker and day trading, I can say day trading is less difficult to earn money, in poker there is two side, winner and loser. Stocks market there is third side, winner, loser and the third side is value increase, that mean if someone earn money that not mean someone else lose. But bottom line, both way is super difficult to win, much easier to lose then win.

[@DaytradeWarrior]

That's true, however, it may apply more to investing. I would also add that cash is also a position!

[@werunguns]

15:56 could you elaborate more on this situation you were in, or do you already have a video covering it? Thanks

[@DaytradeWarrior]

I go over that in the webinars that we hold! To get started with Warrior Trading join us in our next webinar! It's free to join and sign up and you will receive a copy of my' best-selling eBook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup

[@dylanpate8217]

you can't predict the outcome of any single trade but you can predict the average outcome over a series of trades

[@DaytradeWarrior]

That’s right! That’s where probabilities come into playz

[@calvinhelms2284]

Gambling: to risk without ownership Speculating : to risk with ownership The difference between gambling and trading is no matter how much I gamble with I own nothing. Trading is not investing.(to invest you must be guaranteed a return.) but no matter how long or how much money I have ownership/ contract in said company/ future. That is the difference

[@DaytradeWarrior]

Yes!! 💪

[@davet1149]

You need to look up the definition of “Hope”. Since you don’t KNOW you’re going to win at each trade, your definition of gambling is directly applied to day-trading. You’re trying to make hope and Strategy antonyms. They are neither a synonym nor antonym. Strategy is used in the hopes of winning. Strategy does not mitigate the gambling definition, it only mitigates the RISK. I’m a blackjack player/gambler, and I’m learning from your course how to mitigate the risk and increase my prospect of winning on a consistent basis. You actually proved that someone can lose 3 days in a row, yet you hoped during those losing days you would win. Have a great day in the Stock Market Casino!

[@DaytradeWarrior]

Interesting take, I appreciate the perspective! Thanks for sharing!

[@WaltersPeter]

Im sorry but i did not think you had a trading coach. Iv been watching you for maby over a year now and its the 1st time i hear you talk about you'ur trading coach?

[@DaytradeWarrior]

Ted is my trading coach, he is also a psychologist! Checkout this video here: kzbin.info/www/bejne/rZaZZayFeJiKock

[@seankennedy5644]

The DOJ had this conversation 10 years ago when they decided to ban online poker in the US. They decided poker was gambling.

[@DaytradeWarrior]

Interesting!

[@gregdolley9189]

"Would you gamble your kibble?" - ROFL!!! Actually, I think there are two types of "gambling" - 1) The common type, where people go to Vegas and lose money, and 2) the gamble of every-day decisions that run your life. We all do the second type - every decision in life can be looked at as a type of "micro-gamble" -- you have a potential benefit of going one way vs. another, and a potential risk (which could be monetary, but usually for every-day decisions, it's simply a loss of time, or lost opportunity cost). Some people are good at the gamble of every-day decisions, and move forward in life and are successful; while other people are not so good at it and their lives go downhill. If you treat your trading account like type #1 gambling, you'll lose money; but if you treat it like #2, then you'll be successful at trading. Of course, this is a super over-simplification of it (trying to get your trading to type #2), but it really is that simple. You have a strategy, and execute it. But this is sooooo much simpler said, than done. Because the emotional mind tries to take over when we hit a loss. And the bigger the loss, the stronger the emotional mind gets. There's a tipping-point where you can't control it anymore, and the emotional mind runs everything. I've been there a couple times in my trading over the years. I remember one day where I was up over $5k in the morning, the first two hours, only to end the day down $17k! At the end of it I thought to myself, "what the _fuck_ happened?!?!" How did I go from being up five thousand, where I was thinking about just walking away and taking the rest of the day off, to losing 23 thousand dollars in the next four hours (+5k to minus 17k = 23)?!?! This particular instance happened to me a couple years ago, and I've thought about it a lot since. I think there are two issues going on: 1) As humans, we're hard-wired to try harder at making back a loss (could be from anything, not just money) than going from "0" to above zero. Notice how people that sustain massive injuries, say in a car accident, work ulta, ultra hard trying to recover from their injuries to get back to the way they were before - but they won't put the same amount of massive effort into a project before the accident, or after they've recovered. We actually have a part of our brain that is responsible for this massive "over-push" to recover something that was lost (unfortunately, I forgot the name of this brain area). Now, what happens in trading when we try to make back lost money? We lose more. What happens when we try harder to make back lost money? We lose even more. That's the first problem. The second is, 2) "Revenge-trading" after we've lost control. Every trader will hit a day that I've described above. And, if it hasn't happened to them yet, the day is coming, lol! Idk why this happens, but in my particular case, there came a point where the day became like a blur. Like I was not "myself." I don't even _remember_ going from down $8k to down $17k! So the last $9k of losses, I couldn't even remember what those trades were at 1pm PST (so right after the market closed)! I was trading index futures on that day. I know I lost most of it on /YM, but whether it was 10 trades, or two trades, I don't even remember to this day! It is _that_ state of mind that I've been trying to figure out how to avoid in the future. Luckily, it's never happened to me since then. But I have had other "revenge-trading" days since, but never near to the point of losing control. To your point, Ross, about having an actual real-world, working, 100% tested, strategy I think is the way to avoid ever getting to point #2 described above. Most traders don't have a _complete_ strategy, or a strategy that fits "them" (their psychological profile). Once you have both, then I think you've taken the "vegas-style gambling" out of trading, and moved it into just "every-day decision" type gambling. And the latter, is a game you _can_ win.

[@DaytradeWarrior]

she's a degenerate!

[@nikogaming21]

Everything is gambling if u think about it. Going outside u are gambling that u might get hit by a car, get bitten by a dog, getting pooped by a bird etch... what you can do is to minimize the chances that could happen.

[@DaytradeWarrior]

That's true!

[@Big-Wonka]

Random question, would you recommend trading in a normal account or a retirement account? For capital gains tax purposes. If I don't plan to do this as a job and don't necessarily need to withdraw the money.

[@DaytradeWarrior]

Both are good options I think, though I would recommend trading in a simulator here: www.warriortrading.com/paper-trading/

[@justinsherman702]

I would recommend both once you understand what you are doing. Having a normal broker account for your aggressive trading, and something like Charles Scwhab account where you put your long term trades. That way you can gain higher interest for your parked cash.

[@Big-Wonka]

@@DaytradeWarrior Thanks. I've been obsessively watching and learning everything I can for months. I started off with a simulator like you suggested and following rules and strategies worked well. Then I started a normal small TD account and grew $200 to $1500 in about a month. I just didn't want to continue down this path if I'd get hit big time with taxes since I don't really need to withdraw the cash. It's partly for fun, partly for the challenge, but definitely not to make a career out of.

[@Big-Wonka]

@@justinsherman702 Thank you for the reply. I replied to Ross as well about my situation if you'd like to read that as well. But basically, I don't need the cash to get by. I just don't want to be killed with taxes for no reason.

[@justinsherman702]

@@Big-Wonka Something I learned from a few wealthy people. Paying taxes are like taking a crap. It stinks! But you feel better in the end. Its meant to be something good when you pay taxes for your community to help progress. Usually when people find ways around paying taxes it's not fully legal nor worth your time if you look at it in a time spent / money made perspective. That being said IRA trading account or property would be a good route if your worried about it.

[@gnatural]

No day trading is not the same as gambling . In gambling you are hurting the other person by trying to take their money . With day trading , you have the right to hold a security for as long as you want . Be it 5 second be it 5 years or indefinitely depending on where you believe the stock will go . You make a decisions based upon technical analysis/ news etc. of course there will always be risk involved .

[@DaytradeWarrior]

That's true as well! Good point!

[@asgertnder5350]

Hi Ross, i tried to sign up for your free webinar. Put it won’t push the button. “Sent an E-mail to your local mail” I am interested, but am wondering how much of your content is liable for me, when located in Denmark “EU” I feel like I wanna build a lot more knowledge before taking your pro warrior program. So your book would be a good start

[@DaytradeWarrior]

Hey! Can you email me? [e-mail]

[@teddyramos4669]

Hi Ross, just wondering how many years of experience do most of traders before making consistent profit?

[@DaytradeWarrior]

Hey Teddy, That's different for everyone, but for me it took around three years before I started trading profitably. I didn't have Warrior Trading to help me though!

[@eagleitrader9632]

gambling in a nutshell means you have no control of the outcome, just pray it goes your way. trading your edge is you being the house giving you control.

[@DaytradeWarrior]

That’s right!

[@edmondsonoffgridhomestead8932]

Hello Ross! Who was your coach? Are any of the people you learned from still around? If so, who are they?

[@DaytradeWarrior]

I hired a psychologist to help me with the emotional struggles, his name is Ted and he works with my students now as well.

[@brandoncameron1957]

I want to start day trading but I live in South Africa and not sure how to find the best platform and broker. Any recommendations please Ross?

[@earthstuff916]

You can use CMEG or TRADEZERO

[@werunguns]

brandon cameron what kind of markets do you have access to where you live? Is there a stock market in Africa?

[@Iburn247]

@@werunguns no they would trade EU or US thru intermediary brokers.

[@kunleobaf]

We Run Guns really

[@brandoncameron1957]

@@werunguns we do have a stock market in South Africa, but with very few stocks and almost no volatility to day trade it. Also the broker commissions are extremely high. Thats why I would prefer to day trade US stocks.

[@EricLangdon-c7x]

I used to throw everything on any stock, at any time, and assumed I would be blessed with MILLIONS 😢

[@mishaluna163]

Legend!

[@DaytradeWarrior]

Thanks for watching!

[@ericbergquist]

There are no stop-loss bets on the craps table.

[@DaytradeWarrior]

lol nope there isn't

[@scottmagri6306]

There are people who consistently make money at Vegas? Maybe the Casinos, but no players.

[@DaytradeWarrior]

👍

[@playerzero2236]

Everything in life is a gamble until you approach it as a professional. I've made money day trading, I've made money playing cards. Cut losses short and don't put money on trades without indications of a strong upside.

[@DaytradeWarrior]

👍🤓

[@kylefreimund466]

If we are comparing trading to blackjack, Ross knows how to count the cards. simple as that.

[@DaytradeWarrior]

👍😂

[@tyhd1029]

My friend and I just had a debate about this. I got him interested into you Ross!

[@mechanicinvestors9714]

we always welcome new traders to the markets :)

[@DaytradeWarrior]

Right on!!

[@alferdauzer]

I know professional poker players that study and train more than what is needed to be a profitable trader, they don't gamble at all. Gambling is trading based in a newsletter service as is putting your money in the slot machines.

[@DaytradeWarrior]

That's true, that's why you need to learn a strategy. Just fyi, I don't provide a newsletter service.

[@mikenobles1515]

I play Casino war and have tracked data and have a winning percentage as well. It consist of a 55% win rate over a 15 min session yields me on average 500$ a week with a 10$ net martingale strategy. The key is to take profit and only risk 100$. With 2-3 big winners in a month that makes me profitable by 2000$+ a month. I have spreadsheets to explain in detail but it's basically percentage based

[@DaytradeWarrior]

That's really interesting!

[@erickcervantes56]

Hey Ross!!! What’s this trip to Sacramento?

[@DaytradeWarrior]

Little vacation after the Miami Inner circle event.

[@naren2k6]

Day trading is definitely not gambling, there is a strategy, discipline, education, and execution, it is not something that is necessarily addictive, day trading can slowly making you financially independent. Gambling is simply flying by the seat of your pants, shooting from the side of your hip, blindsided, with gambling your failing to plan and planning to fail, gambling is an addiction and a disorder that is tough at times to break, it destroys families.

[@DaytradeWarrior]

Totally! Thank you for your comment!

[@bullforcetrading9995]

For those who you encounter and say that day trading is gambling, ask that person if they are invested in a 401k at their job. If they say yes, ask him or her where the money in their 401k is being invested. lol

[@DaytradeWarrior]

lol

[@RaptureReady2025]

Gambling is more about instant gratification and it’s addictive and the thrill of a big win. Long term investing is all about patience where you put your shares in the bottom drawer and forget about them. The emotional states are totally different. One is unhealthy and the other is healthy. “Gambling” to most people means “unhealthy” addiction and losing all of your money and becoming clinically depressed abs suicidal etc. pro poker players and skilled day traders are not “most” people. Similarly novice undisciplined impatient inexperienced day traders are “gamblers” in the unhealthy sense. But losing is part of the journey to becoming a disciplined trader and turning your life around.

[@vinnyisntgud7221]

as legitimate as you are, using the term "inner circle" triggers my flight reflex

[@DaytradeWarrior]

Sorry to hear that!

[@Iburn247]

I saw MREO form a breakout pattern at 1.40 thurs. It hit 3.74 Friday morning. I had finger on the trigger to swing 1000 shares at 1.40 overnight but didnt trust myself. I was pissed when it closed at 2.44 and peaked at 3.74 next day. Im working with pdt so I have to change my strategy to work with my ability to only day trade 3 out of 5 days. Which is enough to make money but not enough to plan to make money. Meaning 1 wrong trade means you're done for the day or you use additional trades and cant day trade for rest of the week. I need to try cmeg. You dont deal with PDT on your small acct do you? I want this more than anything and i won't quit. Just sucks to have a decent strategy stifled by obscure rules

[@DaytradeWarrior]

Nope I don't, good question, I recently did a great video on how to trade without PDT in a small account here: kzbin.info/www/bejne/ip6QnoKLgtCAbqc Hope the helps!

[@Iburn247]

Just signed up for cmeg. Thanks buddy. I live in western ma as well. I think you mentioned berkshires. Im near Wilbraham and palmer. Id love to trade with ya sometime. I lack people around me who are into it and it would be awesome to have someone to discuss with. Thanks again buddy

[@reviewinglasvegas8695]

Hey Ross...question...Im opening an account with cmeg...if I deposit 500 dollars I get 4 to 1 margin...but what if my first day I have a red day and my account drops below 500...what happens? Do I lose my margin? Do I have to send more money? Thanx, Mitch

[@DaytradeWarrior]

You'll have 4x leverage as long as you stay above $350