We Lost Over $300,000 Day Trading!!

[@TheRamseyShow]

Get life-changing financial advice anytime, anywhere. Subscribe today: kzbin.info

[@cliffordlevy3918]

@@theonetrueking2685 Ennegram is awesome.

[@deficator750]

Every trader is always talking about money they lost, yet ive never heard of a wealthy day trader every rich person is self made.

[@enlightenedapple]

I could tell she’s stupid right away and then I was sure bc she can’t listen.

[@SamuelSylvester]

Dave, I love your show but please don't use Christ's name in vain.

[@FutureWomenBeautyAI]

Experience definitely needed before you start risking in this craft.

[@evilzzzability]

They didn’t lose money; they supplied liquidity to the market.

[@AlexDan99]

Loool...

[@Shteca]

Need to save this one!

[@TheForresterOD]

🤣

[@dow70k45]

🤣🤣🤣

[@aeromedical6750]

ENRON: “We didn’t lock our employees out of selling their Company stock. We simply encouraged them to hold on to assets that ended up losing value! As you well know, nothing’s guaranteed!”

[@pfeiffdog0811]

Your donations to the market were appreciated.

[@derklaus9210]

Dead. ☠

[@elizabethgomez3006]

Anthony 😂🤭🤭

[@Omonike88]

🤣🤣🤣🤣🤣

[@havefaith8276]

🤣🤣🤣 u guys are brutal

[@bkelly821]

Honestly that’s not how to market works. If you loose money it’s because you bought and sold at the wrong times. But if I make money in the stock market it’s not because someone else looses money. It’s because I bought low and then sold at a higher price. Has nothing to do with someone and if they gain or loose money.

[@MrMiniPancakes]

Imagine making 38k a year and you lose 300k a year

[@emdub954]

I too would be bi polar after that loss.😳🤣

[@a-a-ronbrowser1486]

I can’t lol

[@Cryptokat]

it happened to me. TWICE. Yep, I'm a sucker!

[@fernandovazquez7272]

@@Cryptokat you need therapy sir

[@Hick_Ross]

I’d be suicidal after that lol 😂…

[@m_rod9562]

"The stock market is a device for transferring money from the impatient to the patient " - Warren buffet

[@emsea1658]

“Those who understand interest earn it, those who don’t pay it”

[@guyheavengym]

I mean sure if you invest in a stock. Those gambling on options and futures however...

[@TheUSWMO]

@@emsea1658 interesting point.

[@emsea1658]

USWMO quote by Albert Einstein

[@ericdahl2915]

In a bear market, shares return to their rightful owners

[@thatsmyjam8403]

As a child you look up to adults as if they are godlike but once you become one you realize they're just grown-up babies.

[@NoraGeeGee]

Yuppers 🤷🏻‍♀️

[@Jdb63]

I became more mature than most adults at age 17. It's a sad world man

[@rallyfreakburak]

ThatsMyJames well said..

[@MrCN173]

Exactly

[@morsteen]

I am not!

[@madarchermoto4955]

Me being negative $1,200 doesn’t seem so bad now

[@ryw00d]

D W 😂 yeah my 200 loss has me thrilled at this point

[@bigrod359]

@@ryw00d if your worried about a $200 loss trading is not for you

[@Forever.Remain.Nameless]

It's all relative....

[@cantu7614]

@@bigrod359 actually that's a very ignorant statement money dosen't Matter in the end it's the percentage so if his investment was 400 and lost 200 then yeah it would be worried he lost 50%

[@bigrod359]

@@cantu7614 yeah I know maybe it was a poor kid that could have taken months to get 400 my mistake

[@tomassmith2088]

This is a major success story for someone else

[@Villaintrader12]

Tomas Smith yes. The bank

[@tientrinh943]

How?

[@Mr.Lawton534]

Zero sum game,for a winner someone else has to lose.

[@vinceslapchopper]

yeah, the success story is Tesla.

[@bighands69]

@@vinceslapchopper Tesla is not an investment by any account.

[@mattpalmq]

Sounds like her husband is a fan of r/wallstreetbets

[@nickneff6926]

Jason Bond lolol

[@dancer1]

Lol

[@BruceBurger]

😂😂😂😭😭😭😭🍔 I thought I read about this the other day 😂😂😂 he might have lost money, but he is legend on wsb.

[@nickneff6926]

@@BruceBurger hahhahaha priceless connection dude

[@tonyunderwood9438]

mod material for sure

[@NicholasBall130]

Nice video as always but here is my problem I have been making losses trying to make profit in trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?

[@StacieBMui]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or ass:stance. Speaking with an expert helped me stay afloat and grow my portfolio to about 65% since June, even though i know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@Wellerpage]

As a beginner who don't understand how trading really works and you really want to make profit from it. I will advise you to first start working with an expert

[@cowell621]

This sounds great. Is there a way I could connect with your advisor or any other whom you think is very good? I'll appreciate.

[@Wellerpage]

Sharon Lee Peoples is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@grego6278]

I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@lenfordmorris1407]

He's wasn't trading, he was gambling. Please know the difference

[@TheBibleonly]

He was investing.

[@TheUSWMO]

Preach

[@iamgionism1453]

TheBibleonly nope if he was investing he’d still have it, it was gambling

[@nlvon]

Facts!

[@Zenbeau]

​@@iamgionism1453 you missed the point he was trying to make

[@YR2050]

They had been shorting Tesla.

[@jlebrech]

haha, short sellers deserve what they get

[@julianschmidt4905]

jlebrech buuuuhhhh

[@et9120]

😂😂😂

[@rocketdogticker]

Yeah I genuinely think that's the only possible way that you could this 300K in today's stock market

[@blackworldtraveler3711]

Elon Musketeer Or trailing stop like I did.

[@ufchighlights1]

Imagine putting 300k into stocks that paid monthly dividends.

[@inerit5175]

simple as simple does!

[@josephbailey4463]

Figure about $10k of income per year.

[@gustinapert]

What are you going to do with your 10$ yearly income

[@Trapmint]

@@josephbailey4463 youd probably get about 5000 a year.. still a lot.

[@phantomsedge5686]

Dividends make jack shi

[@lacoradancy6329]

Wow. They made less than 40k and loss 300k. My heart hurts for them

[@aguyandhiscomputer]

@Big Ballah I'd agree since they will be our problem someday when we're paying taxes to pay for their government assistance.

[@jovitarich7078]

My heart hurts for the poor people who worked so hard to leave them that inheritance. They did not earn it, others did.

[@RajinderYadav]

Not me, they didn't deserve that money, they had no respect for it.

[@oscarsanchez3201]

He lost 300,000 in 6 months clearly he didn’t know anything about risk management

[@MSRX92]

Worse than that, it was 6 *weeks* he lost the money in.

[@SignedOff402]

I wonder which side of the family this wealth came from (his or hers).

[@BradKwfc]

Or position sizing...or technical analysis...or fees.... or trading.

[@bmoshareholderappleshareho855]

He should have bought shares in Bank of Montreal (BMO). It's Canada's fourth largest bank and has never failed to pay a dividend in over 191 years. If that's not safe, then I don't know what is.

[@ryanweston9677]

It stemmed from ignorance and greed.

[@adammarkowitz7944]

It's not his fault, he's "buy" polar.

[@JML1987]

I see whatcha did there

[@ALiBi212x]

He would’ve been better off if he was a “buy-holder”

[@xxsilentmajicxx]

lol that what i was thinking.

[@binhp9572]

💀💀💀

[@momenwasir2196]

😂😂

[@iKumala]

I'd be diagnosed bi- polar AFTER losing that much!

[@ariefraiser140]

I'd be divorced if I lost that much.

[@worldbosspf1]

You need someone to diagnose that?

[@abdikalikosman4715]

Lol...

[@FallicIdol]

No kidding

[@ineedhoez]

Yeah... he gonna need to come up with some diagnosis in order to get her to stay.

[@Indianahillclimber]

One thing he has and its worth far more than 300k is a supportive and forgiving wife. Despite his loses and short comings he is a lucky nan.

[@lilbean4606]

my dad just died *crying* dave: whats your household income

[@rawlvee]

Rip

[@finalboss7956]

Or hed tell him "Rice n beans for 3years"

[@KingofMGS]

Sell the car and the casket

[@deepthinking8633]

I was thinking the same thing. Emotionally unstable people shouldn’t be trading. That’s rule one.

[@aakksshhaayy]

I thought rule one was don't trade stocks while you're high

[@mac1bc]

That's why I don't do it. I'd be way too emotional over that loss.

[@kiwizlucks4947]

tlessmo you explaining what you just did literally told me you know absolutely nothing about trading and are an idiot, “I bought big dips in companies and I had no idea what I was doing” that’s exactly how you don’t trade

[@bighands69]

@NonyaBusiness! He has a condition that meant he had no control of what was occurring.

[@timothyhenderson268]

Do you think he knew, or the wife? I'm sure that it would not have happened if he had a prior diagnosis and was treated.

[@bjkarana]

So the deceased relative likely spent decades diligently setting aside surplus dollars from their labor, building up $300k in that IRA, only to be blown by the husband thinking he could rent stocks and make a profit from it. They didn't just lose $300k, they lost the future dollars, likely 1-2 million, that would have been generated in that tax shelter had they *invested* that money for the next few decades in a low cost mutual fund. And at their income levels, they really, really, blew it here.

[@ineedhoez]

Whoa

[@TLM860]

Wow! Way to deliver that dose of bad news!

[@valev5705]

I would just had buy single stocks with 300k; apple, Microsoft, tesla, amazon and keep it forever 😁

[@valev5705]

dan cussin thank you i will check on intel

[@mac1bc]

Sounds like both the wife and husband don't think it's a big deal.

[@maurosgarage]

300,000 dollars is a life changing amount of money for some one who makes 50K a year. I am very sad they gambled it away.

[@ettyobz]

its easier to loose money if you dint work for it

[@mikebetts2046]

Another way of saying this: That which is easily acquired is lightly esteemed"

[@linkbelt111]

Gamblers don’t care where it came from, it’s the chance that’s the drug. “I’ll hit the next one, for sure!”....They rarely do!

[@tylerdingo4063]

Why does nobody know loose/lose anymore ffs it ain’t hard

[@genxx2724]

@@tylerdingo4063 and didn’t

[@stephaniesmith3544]

Imagine passing down your hard earned money just to have it all thrown away in 6 weeks.

[@TrainerAQ]

That's why I don't believe in passing down money. You can get the money but if you didn't build wealth yourself chances are you won't know how to manage all that money. I plan on using up all my wealth in the end and not giving anything to my kids except enough to pay for the funeral.

[@costco_pizza]

@@TrainerAQ Absolutely. Ungrateful family members will never understand hard work and the value of the dollar. Make sure to enjoy it while you are here on Earth.

[@joelwillems4081]

Fools < money. I have started an investment account for my little niece that I hope to show her the buy & hold success in her high school years.

[@genxx2724]

@@TrainerAQ Some adult offspring are hardworking, live below their means, and invest for the future. They deserve to inherit and will use the money wisely.

[@genxx2724]

@@costco_pizza Yes, I agree the spoiled and entitled, or those who do not manage money skillfully, should receive nothing.

[@blaketheman96]

Update: The wife's boyfriend loaned him some money to buy GME calls to get 500k back

[@jonboybilly]

Too soon bro, too soon.

[@ricardocabeza6006]

@@jonboybilly... No it’s not. It’s right on time.

[@1pwNz0mb13Z]

WSB on these videos too?? Ur subreddit did this!!!!

[@ryugurena3327]

He should have kept going. He might have made it back

[@HermanWillems]

@@1pwNz0mb13Z DIAMOND HANDS BRO, DIAMOND HANDSSSSS

[@buyerbware25]

They gambled an inheritance. 😑

[@bighands69]

His condition was probably the reason for the behavior. It might actually be a good thing that the money was blown in such a fashion.

[@phaldaz]

@@bighands69 could be... but to the tune of $300k is a stinger no matter how you look at it

[@danbuchner28]

He wasted money he was given. It doesn't get any stupider than that. Then he tries to blame it on a mental disorder, and doesn't admit fault.

[@leonsterling5918]

MY GENERATION IS BRILLIANT

[@pearljameric]

Whoever gave them that money.. My God.. So sad

[@colorob8887]

This woman really loves her husband.

[@greenearthblueskies8556]

She’s part of the problem....an enabler.

[@nephetula]

She has to love and depend on him; she has no job.

[@erikrohr4396]

Loves him, as she should.

[@bighands69]

Him losing that money might actually be a good thing for them.

[@bighands69]

@@greenearthblueskies8556 He is bipolar and the family did not realize what had happened. Him losing that money might actually be a good thing for them.

[@guitartricky]

Wow. It's impressive how calm his wife is being. I hope this guy realizes how lucky he is and gets help.

[@sehoujay]

He's not lucky, she's an enabler. Just like an obedient wife pouring a shot of tequila to her alcoholic husband

[@zoober8158]

@@sehoujay right

[@nealpandya6286]

She is not stressed because his family or her family have a lot of money and take care of them. They are just pretending to be middle class.

[@The_Jumpman]

@@sehoujay I hope you realize how brain dead you are

[@sehoujay]

@@The_Jumpman The only ones who are braindead is this couple who threw 300k down the toilet when they are only on a 30k a year salary.

[@yayyareaa2997]

Someone clicked on too many Warrior Trading and Ricky Gutierrez ads 😂

[@TimCurry04]

Lol... 😂😂😂not fair! Ricky will get you going in the right direction. I'm making over $10k a week trading oil and Natural Gas ETFS solely because of him.

[@ohyes32000]

@@TimCurry04 ok bud I wish you won't be the next caller on the Dave Ramsey show in the next couple of years. lol

[@jerrynguyen8083]

And Timothy Sykes ads

[@yayyareaa2997]

lucky menamnam 😂😂

[@madadder9148]

"Jason Bond here . . ."

[@michaelweyenberg6238]

He didn't earn that money so it was easy to blow. Easy come easy go.

[@hectormoreno9793]

Will you let me go? Bismillah!

[@karidhacker3196]

@@hectormoreno9793 no, we will not let you go! No! No! No! no! No! No! Mama mia, mama mia!

[@jeffc1347]

Imagine being that person who saved up for years to give him that money.

[@Colin-kh6kp]

Bars

[@genxx2724]

@WorldFlex This is a CPA question.

[@aeronbarreras2923]

Why I like to watch Dave Ramsey show. Is because it reminds me that there’s other people in way worse situation. More debt. loss more 💸. And it reminds me everything will be ok.

[@therationalistparty9742]

Its like the Jerry Springer of finances.

[@robertnicosia5736]

I heard a saying once, first generation makes it, the second builds it and the third one goes through it.

[@daveed467]

mental health issues will destory a family. it doesnt matter what gen

[@hermanrogers1325]

Yep that’s right

[@andromeda2.5millionlightye5]

Only case with middle class

[@gizzelleboccia1806]

Very very sad

[@gizzelleboccia1806]

This one hurts

[@deepthinking8633]

Risk management skills: F

[@ETM4Real]

Deep Thinking Good enough for Robinhood

[@brandonrides8953]

No 2ndLTs in this call

[@rochester3]

enough risk management couldn't save him in his mental state

[@gnman]

trading 101 lol

[@jonnyfranco7]

rochester3 mental state is part of risk management.

[@God.Almighty]

- we've lost 300k day trading. how can we make it back? - open a brokerage account and day trade. seems logical

[@justfine77777]

What could go wrong?

[@ProverbialGeek]

@@justfine77777 Haven't you heard of "confronting your demons"?

[@justfine77777]

@@ProverbialGeek I have. I don’t understand how it applies here.

[@ProverbialGeek]

@@justfine77777 Was being sarcastic ;)

[@ianmowbray3284]

Day trading is like when you talk to a gambler, they Only talk about there wins. and not the 80% times they lose.

[@VADORT]

DAY TRADER IS A GAMBLER

[@Ryan_DeWitt]

Exactly! This is no bi-polar BS. That is a full blown gambling addiction.

[@edb484]

I would never trade stocks, too risky. But trading options are futures is better if one wants to trade. Buying and selling contracts required a lot less money and more gains

[@Answers721]

Day trading is very profitable if people know what they are doing. Obviously if someone has no idea what they are doing there is a good chance of them losing money. Never day trade without doing a lot of research in different analytical models of trades. For example, if you want to day trade cryptocurrencies, never use an exchange that does not give out technical indicators, otherwise it's just randomly gambling without a winning strategy.

[@flash12319]

I day trade....I'm profitable 🤷🏽‍♂️its just takes a while to get good at it. definitely not gambling

[@jeffreybasulto3717]

Dave “better than I deserve” Ramsey

[@Mag1c4lyfe]

Dave "sure, what's up?" Ramsey

[@imz4]

Dave “What’s your household income?” Ramsey

[@Fwardi]

Dave "Rice and beans, beans and rice" Ramsey

[@edgaruriarte]

Dave "you shouldn't be inside a restaurant unless you're working there!" Ramsey

[@p.shermanfortytwowallabyla9488]

Dave "youre spending like youre in Congress" Ramsey Ps. I loooove this thread lol

[@AliceAnderson-in1et]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@MamieEvans-dp6sc]

As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.

[@AliceAnderson-in1et]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant

[@AliceAnderson-in1et]

I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.

[@AliceAnderson-in1et]

This is he’s telegrams user name

[@AliceAnderson-in1et]

@AlexRcoin THAT IS THE USER NAME THAT IS HIS USER NAME

[@whatupdoe3623]

My ex’s grandparents spent 25,000 on a day trading course. Imagine losing 25k before you even start trading

[@emckethern]

🤣🤣🤣🤣

[@Abel1120]

😂😂😂😂😂🍻

[@Duke_of_Prunes]

I can imagine taking that $50K and putting it into JNJ, Microsoft, Chevron, or one of the other stocks that have allowed me to retire.

[@hugavet3049]

Yes. Better to lose 25k than 130k. Dear God, I lost 130k day trading.

[@Sam-dc9bg]

Dam, they probably were told that the course would teach them to how make $200-300k per year.

[@SoCalFreelance]

First rule of the casino - show the suckers some easy profits so they can lose to a factor of 10 later on.

[@spookyshark29]

First rule of trading: "Stop Loss"

[@f80brisso]

Rule number #1: Don't trade stocks if you have a bipolar disorder

[@Forbiddenknowhow]

Diagnosed bipolar after the loss. I think that’s make anyone crazy

[@wordsrwind22]

He didn’t know 🙄

[@jamisojo]

Don't trade stocks if you are human is a better lesson. Professionals cannot beat the S&P. You cannot either.

[@Defy_Convention]

You gotta know when to hold'em, know when to fold'em, know when to walk away, know when to run.

[@elmateo77]

Ughh, now I have to go look up that song or it'll be stuck in my head all day. Thanks a lot...

[@all4godify]

I was just getting ready to do baby step 4 when I got laid off 😔. Im thankful to God for showing me Dave’s plan. The baby steps works.

[@Joe-jc5ol]

Further evidence that if you give poor people money they return to being poor quickly, it is a state of mind.

[@ineedhoez]

Na... that aint poor people. That is is stupid people.

[@ineedhoez]

Poor folks might blow it all. But they will at least have some nice cars and clothes. Good god.

[@Joe-jc5ol]

It takes as much work and skill to preserve money as it takes to make it. If it is handed over and you didn't have the skills to make it, you probably won't know how to keep it either... I have seen this happen over and over. I have friends who got lucky with some deals early on and made some decent sums, that they quickly dissipated and returned to being poor...

[@ThatsPety]

This is stupid. It's not because they were poor directly, it was because of a lack of education/stupidity. You can be as smart as you want, have the best "state of mind" you want, when you're poor you're still crushed by the system

[@Joe-jc5ol]

@@ThatsPety I'm originally from a poor dictatorship country in the middle east, don't talk to me about crushed by the system. In the US and any developed country you crush yourself.

[@franciscociceron451]

I love this show because you get to learn what not to do. Learning from people’s mistakes. Valuable lessons here

[@UliSwag]

That's messed up. That was someone's savings and they gambled it all down the toilet. My soul wouldn't rest easy.

[@Bfolks84]

$300k lost!!! 😱 wow. Life changing money gone with the snap of a finger.

[@brysonmitchell4437]

Thanos

[@ThePatriots010304]

This is why giving poor/broke people money doesn’t make any difference. Your financial situation is due to behavior not circumstance.

[@MelancholyCrypto]

@EvilShake101 Chill with the racism, thanks.

[@GrandLineCharlie]

EvilShake101 you’re obviously obsessed with us! Thanks, but no thanks. 😊🤭

[@1yasin6]

Yeah because having easier access to education, healthcare and low cost of living is more beneficial.

[@Putindidnothingwrong]

YO I LOVE THIS COMMENT SO MUCH very true

[@MOBMJ]

its about how you think of an value money. learn the game of money

[@natcoco44]

All things considered, this woman is really incredible for keeping herself and her family together. I can't imagine having my spouse go through a manic episode and spending this much and just not being himself. Most families split because of these situations, but this woman is so impressive for doing what she can to keep her family and standing to her words of "for better or worse, for richer or poorer"

[@Wall2000x]

Where else does she have to go??? Notice she said she just had a baby.

[@SoldSoul4VB]

But he was doing well, sounds like he just had an unlucky break. If you ask me, find a way to mortgage the house and get him back in the game.

[@anthonydavis3424]

She’s lying

[@crd9551]

@@Wall2000x She could take the baby, leave the debt and take whatever money he has left and find another dude to support her. But she sounds like she actually loves him. Its nice to see that strength in marriages.

[@markg999]

The thing with daytrading If you cant make $1k go up in value you cant make $300k go up in value. Start very small should only be using a small percentage of capital...the people swing for the fences usually alway end up losing it all.

[@nickneff6926]

agreed

[@dancer1]

True

[@tossmonkey1]

Summed up perfectly sir!

[@PunkNDisorderlyGamer]

The problem with that mentality is you can’t scale up your mentality or risk tolerance from 1k to 300k which severely effects your decisions. Day trading 1k may give someone a false sense of security once they see let’s say a $200-300 gain. Plus you can’t really day trade with anything less than 25k or you will hit the pattern day trading limit really quick. Like Dave said day trading is a losing game like the roulette table especially if you’re paying commissions.

[@markg999]

@@PunkNDisorderlyGamer That is true is much easier trading on less than more money. You can do well in day trading with alot of class time and if you risk the proper capital. Its also tough mentally most are equipped for it. I'd say like 80% fail over a long period of time.

[@chartuck]

I got ran over by a car, fired from my job, and now I'm homeless Everyone but Dave: I'm so sorry, let me know if there's anything I can do to help Dave: What's your household income?

[@bullonwallstreet]

True

[@dacokc]

Easier to take a $300k loss if you make $300k/year vs $30k per year..

[@silverltc2729]

You should deliver pizza.

[@bullonwallstreet]

@@silverltc2729 Who should deliver pizza?

[@silverltc2729]

@@bullonwallstreet according to Dave...everyone

[@chadj.w.anderson5473]

I am thankful to people like her that are brave enough to share their experience. Thank you Liz. God bless you and your husband.

[@butteredbread1756]

She sounds very chill about it. Must have been the husband’s inheritance

[@SteveRam]

Ouch! Pulled out IRA and then lost it all. Agree with Dave, you’re going to have to cut losses, make sure you learn from this and start from scratch.

[@gnman]

easy come, easy go .... unfortunately.

[@unclebob6728]

I hope they did not take it out of the IRA before losing it. That would result in $314,00 in income from the IRA redemption. Only $3,000 of STCL are deductible. Nice big tax bill coming up! Ouch!

[@covercalls88]

20 years ago I did some day trading, and for all my efforts broke about even. When I look back, it was not worth the risk and stress. One reason why they lost 300k was because they did not put in any work and stress in earning it. To them they treated it like play money.

[@johncoll4456]

Great reply!

[@TVyVan]

Did you stop day trading? I started day trading during the pandemic and realized that it was easier to lose money that way than with swing trading or the options wheel strategy.

[@Dre88116]

Never tade with leverage if you ain’t sure what your doing

[@TheNortheastAl]

DRE DAY Even if you know what you’re doing, you can get wiped out quick. Don’t ask me how I know.

[@nickneff6926]

EXACTLY! nail on head, well put..

[@hektik8007]

TheNortheastAl wiped out quick if you don’t have a SL or risk 100% per trade

[@samhernandez2257]

Don’t trade with leverage period! You’re better off with safe long term investments

[@TheNortheastAl]

JAYER _OZ Had a broker who was not keen on SL orders. Live and learn.

[@stephensantiago603]

Her: He was diagnosed with Bi Polar. Dave Ramsey: What is your household income?

[@aeromedical6750]

Dave: Sell the Xanax.

[@DrugTalk]

Loll

[@MS-on9bv]

I mean.. what did you want him to say? He was trying to help her dude.

[@SoullessPolack]

@@aeromedical6750 Xanax is used for anxiety and panic disorder, not bipolar disorder. Lol. How you gonna make a joke when you don't even know what you're joking bout?!

[@scootertooter6874]

@@aeromedical6750 "And start eating rice and beans..."

[@dannyhantx]

Should have just bet red for 300k at the casino.

[@Only2GendersCommonSense]

He probably woulda bet purple.

[@jaketryban8772]

Hahaha that’s what I would of Done lol

[@joelwillems4081]

"Always bet on black." -Wesley Snipes, Passenger 57

[@justinitdoesntmatter7515]

First month ever investing I day traded and made $1,400 off one trade. After that almost lost all of it. Now I do swing/long term trades and am up 40% for the year. I do not recommend day trading, very stressful

[@whatupdoe3623]

That’s why I quit it, the amount of stress that comes with it is not worth it. I’ve started diversified swing trading and I like it a lot more.

[@justinitdoesntmatter7515]

Whatup Doe day trading was the most stressful thing I have ever done, it’s it’s almost all lucky, with penny stocks anyway. I look for companies with strong 5 yr charts now, a lot less risk and still good returns.

[@BearThatSwings]

Bad mindset already no wonder your b*ching about it and losing… While you lose i’ll happily take your money…

[@KrystalToddCPA]

Whew.. That is why it is important to have a better understanding of what you are investing in and don't gamble for a living. Buy investments that cashflow and don't chase high gains. Even if she got a brokerage account she would have to sell to realize a gain to offset it with the losses.

[@blackworldtraveler3711]

The Cash Compass What I invest in is mostly from my understanding of people.and the financially stupid things they do and their consumer addictions,instant gratification,etc. When I saw people buying pet rocks at the mall as a child I knew people would pay over $4 for a cup of coffee and buy bottle water among other things like too big of home,too many kids,big gas guzzler cars, etc.. There was a time when a cup of Starbucks coffee cost more than one share of the stock.

[@sblijheid]

Nothing wrong with high gains. You just have to understand the instruments and have proper risk management in place. You sound like you're regurgatating something you heard on a youtube video.

[@Cristian_M_]

You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.

[@BryanSmith-cc9iy]

I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..

[@Kennet.Bell.]

imagine investing in Btcoin earlier.... You could have been a multi millionaire precently

[@tracyholian2944]

​@@Kennet.Bell. You are right. Been thinking of going into gold and cyptocurrency

[@alinamikelle8688]

Assets that can make you rich *FX *Btcoin *Stocks *Gold *Real estate

[@Derrick_Chavez]

You’re right but a lot of people remain poor due to ignorance

[@Spahi77]

Bi polar? No....bad investor, yes

[@ThinkMoneyBenny]

“Don’t ever say again that he was doing well” Lol Day trading is so risky, I love dividend growth investing for the long term.

[@Gregoman89]

I’m with you. I love dividends!

[@billyjohnson9166]

i love dividend paying stocks

[@shortii12341]

Dividends are amazing!! Love them! I just let mine sit and grow! Of course I keep an eye on them but most of the time they just sit!

[@edb484]

Another way and requires Capital than stocks is options or futures. It’s less capital and more to gain. Got to know what your doing though.

[@tsmith3887]

Dividends are so fun!

[@I-Am-No-One]

78% of day traders lose money. That is because anyone can open an account, but only few actually educate themselves before they actually begin trading. Its a career not a get rich quick. Thats why trading firms exist and are successful.

[@mr.wonderful4737]

95% lose money

[@ambulantgaming8483]

@@mr.wonderful4737 95% of what? People who wander anywhere near a free brokerage account?

[@jaqu1se86]

Facts. Clearly this guy did not put a stop loss and sell off. Had no system. He was straight gambling. Biggest enemy in trading is greed and fear.

[@mugiwara9507]

@@mr.wonderful4737 I’ll say 90% is More accurate

[@TheioniXx]

More like 99% because day trading is gambling and whoever argues otherwise is an addict

[@Ryan_DeWitt]

38k income, 300k loss! WOW! I've known a few people with bi-polar disorder. That is not an excuse to lose 300k when you make under 40k. There are other things going on or other mental conditions more serious than bi-polar disorder. Sounds much more like a serious gambling-type addiction.

[@dodgeplow]

Unless there is a preceding pattern of gambling it does not sound like a gambling addiction. He had this inheritance for however long before, and then it was blown in only 6 weeks. This could easily be a first manic episode.

[@braceyourselvesfortruth2492]

@@dodgeplow I can tell you what happened. They had a meager salary before this happened and thought they could get rich quick by yanking an inherited IRA (never mind the taxes) and spilling it all over stocks. Sad thing is they could've done pretty well with their inheritance if they had managed it better.

[@dodgeplow]

@@braceyourselvesfortruth2492 Maybe. We don't know.

[@elmateo77]

Bipolar disorder is a very serious disease, and has destroyed many people's lives.

[@TheMacadias]

@@braceyourselvesfortruth2492 Now they need to RECTIFY this

[@RedCandles_]

The only people that make money trading are the ones that treat it like a career/business and devote years to developing an edge. Most people lose because they are reckless gamblers.

[@Steph1]

Even those people don’t live off the gains, they live off the management fees

[@tyronnie1767]

If you notice its only the boomers who hate on day trading. Day trading is a skill... its like skating a half pipe... if you have never skated before you will probably smack your head trying to drop in... thats where the helmet comes in(risk management)... keep practicing and keep falling and getting a feel for it.... you will eventually be able to consistently skate it with minimal falls... just don't get too confident and lose that helmet... there is always a chance of a loss you can not come back from if proper risk management is not strictily used.

[@dancer1]

Day trading is a skill it’s not gambling

[@zacksmith6553]

urbexloner it’s literally gambling

[@BlackJesus8463]

@@zacksmith6553 Business is a gamble.

[@glaxowelcome1907]

If you cannot control the outcome of a bet, then it is gambling. Someone can be incredibly skilled at Craps but, ultimately, they cannot control what number comes up on the roll of the dice. You can be incredibly skilled at reading market trends, patterns, etc. but, ultimately, you cannot control the price of the stock. An educated guess is the best one can do in Craps or Day Trading. It's gambling.

[@DannyOvox3]

Zack Smith you have no idea what real trading is about if you say is a gamble haha and I bet you won’t even research it after thus because you’re afraid of getting your bubble burst

[@DannyOvox3]

glaxo welcome I guess that makes all of us gamblers just by living life, you don’t know 100% the outcome of your decisions BUT that doesn’t mean you can’t be successful in life. If you put it that way, risk managers is what I would call day traders.

[@yiliu5909]

I thought she is going to say 300k household income,lol. They don’t have income nor knowledge to play with money.

[@13ikea]

Yi Liu at all!

[@ryankiel4895]

If I lost 300 grand, I don't think that I would be able to sleep for about a year due to kicking myself.

[@jesso6670]

Inherited money just lost 😭😭😭😭in seconds. That's the saddest story to hear.

[@theburnetts]

Don't know if I have ever heard Dave exclaim "Jesus!" on a phone call before.

[@buyerbware25]

Nope. This caller had a new problem for him.

[@EdBball99]

Had the same thought. Haha.

[@SaeleeSaan]

Head scratcher for good ole Dave.

[@bradvincet1848]

I don't know how people could ever heal from such a costly and avoidable mistake.

[@junkequation]

Hard to imagine the wife respecting her husband after this. That is thousands of hours of someone's labor destroyed.

[@zevlove612]

Its only money u can bounce back...chastened of course

[@mac1bc]

I don't think either of them are responsible with money. She probably doesn't see it as a big deal either.

[@dirtstyles]

@@junkequation She seems oblivious lol still laughing about it

[@vince188]

I Got swindled out of $180k of taxed money. Still dealing with massive bouts of depression and anxiety. Changed my whole perspective on life

[@GG-ou2tz]

I swing traded $2,000 down to $124.76 in 7 months but then I got better at it and turned that $124.76 into now $1,800 4 months later. What did I learn from this?? I only needed $124.76 to start not $2,000

[@dragonofparadise]

How do you lose over 300,000K in trading? They must not have used any risk management when trading to have losses that high.

[@Elmexicano405]

Validusy Trading in Penny stocks causing this to happen.

[@Elmexicano405]

Causes*

[@spunky181]

Or kept buying high and selling on those dips scared he would lose more but kept doing it.

[@jlebrech]

getting excited by shares going up and buying, and selling when you're scared.

[@christophercarrigg3775]

Penny stocks

[@devoywilliams3956]

he would have had better luck with a down payment on a multifamily home.

[@gooneegoogoo123]

That would've been his best bet.

[@TheNortheastAl]

Devoy Williams I think he was trying to avoid the income taxes that would have probably come if he didn’t invest the IRA. I don’t think a multi family home qualifies as stock investment.

[@devoywilliams3956]

@@TheNortheastAl Can't really avoid tax you can only postpone it.

[@TheNortheastAl]

Devoy Williams Very true.

[@gnman]

lol he's still gonna be trading those mortgage payments lol

[@relaxcentral3219]

Imagine if these were your kids and you gave them that Roth IRA, just for them to buy Tesla puts

[@mrc2176]

same week expiration too.

[@andypehrson9316]

Tesla calls would've been a whole different story

[@ericstevenson3738]

1:28 Never seen Dave stumped like that.

[@777thejesusfreak777]

r/wallstreetbets

[@bryan_witha_whyy]

"A brokerage account is an account that you have with a broker where you CALL the broker and you do trades." Welcome to 2020, Dave.

[@andypehrson9316]

exactly hahahaha

[@graham9334]

Husband not a day trader; a huge gambler maybe. Losing 300k in 6 weeks is insanity. No risk management whatsoever

[@Scorpiomaj27889]

Classic case of, learn to be happy with what you got! For $300K they could've pulled in $2,000 a month is an AVERAGE mutual fund or ETF.

[@horacechin1]

Yes and that’s amazing yield. Greed takes over

[@ErickaWilliamsCC]

she is freaking in shock. she is like I LOVE HIM.. he is a genius that just is bipolar... omg. god bless her.

[@nczioox1116]

Well either she admits she married poorly or blames it on something else

[@billkindig137]

I went through the "day trading phase" and came out a loser! Didn't lose 300k, but still. Some people get rich doing it, but seems that 80% of people lose at it.

[@oosamaaaa]

Official number is 96%. Yes only 4 percent end up making money

[@AmandaHugenkiss2915]

I tried too. Lost about $5K and called it quits. Some days were good, but the bad outnumbered the good. And it's so much easier to lose than gain. Was fun while it lasted though. I miss it.

[@billkindig137]

@@AmandaHugenkiss2915 I also lost about 5k! At one point I about doubled it. :( It was so fun when you win big. It's literally the same rush you get from a winning blackjack hand

[@horacechin1]

Yep in the end those gurus disappear out of no where

[@VoltedSoldier]

@@billkindig137 that feeling is exactly why you failed.

[@Mack-bc9mh]

I would be sick to my stomach losing that much money. 😷

[@GregDelR33]

This is why the capital loss limit needs to be increased already and adjusted with inflation. The $3,000 capital loss limit is so out of touch having been stagnant since when it was first instated in 1978. We've seen massive inflation over the past 45 years, and yet this amount remains unchanged. Everyone please stand behind the Capital Loss Inflation Fairness Act that proposes to increase this outdated amount from $3,000 per year to $13,000 per year (which is the fair and appropriate calculated adjustment for inflation).

[@arneldobumatay3702]

First time I seen Dave actually stopped and had too think about this.

[@amorestperpe]

I bet he wouldn't have been bipolar if he didn't loose 300k.

[@Cos3D]

exactly...

[@cosmicqueso3570]

That’s a really stupid comment. I’m not a mental health proponent coming to spread my claim, but that is an ignorant and naive comment.

[@SenorJoeBiden]

If anything, it’s the other way around.

[@gsiggs]

Losing even 100k would make most normal people bipolar lol

[@HangNguyen-ih8rf]

I’m so in love with Dave’s grandpaish nagging voice ...I hope he live a long and healthy life so I could hear him as long as I could ❤️

[@TheDogondone]

Yeh, that's called a gambling problem. Not investing.

[@RandalColling]

Day Trading isn't necessarily bad. the key is to being DISCIPLINED. Too many people base these things on emotion.

[@mega1chiken6dancr9]

nothing is necessarily bad....

[@schawnettarobinson8584]

She is sweet and understanding.

[@alexsanoff585]

I love how raw and unfiltered Dave is with these ridiculous call ins

[@Slingsomelead]

Invest in (say it with me everybody) “good growth stock mutual funds!”

[@BreatheThePressure]

ETFs are way better

[@dancer1]

Californication True

[@elmateo77]

​@@BreatheThePressure Yep in most cases that's true, many 401ks don't offer the option of investing in ETFs though, just mutual funds.

[@TheNortheastAl]

Mutual funds, ETFs and index funds. Good places to park your money.

[@kingleonidas4296]

And risk your money to pay exorbitant fees while a manager buys a yacht while losing your money. Index>mutual funds, has been proven many many times over.

[@LovethJeniffer-bj8tl]

Great video! I really do have a question. For someone with less than $5,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?

[@markjennerson7041]

I've been trading by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?

[@MadisonGrace405]

I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance from my personal financial advisor < Katherine Maggie >

[@EvelynMike-bv2yz]

YES!!! That's exactly her name Katherine Maggie so many people have recommended highly about her and am just starting with her from Brisbane Australia🇭🇲

[@williamsbuana3726]

Legend says "If you don't find a way to make money while you sleep, you are fated to die working" and it turned out to be true.

[@LucyJudith173]

This sounds so good and I would like to be a party to this, is there any way I can speak with her?

[@urano4810]

I wanna do day trading just so I have an excuse to have an 8 monitor setup in my home office

[@dancer1]

Urano what 😂

[@inabina2925]

Or you could be a hacker, cheesy 80’s movie style 😂

[@Jeremy_810]

War room!

[@SirenaSpades]

Uh, I just have two monitors and the second isn't even turned on ;) Keep on thinking you need 8 monitors, buddy

[@glaxowelcome1907]

@@SirenaSpades I guess that the joke went over your head.

[@shalow123]

If you're the kind of person who wants to trade (I'm a gambler and i can afford it) just do the math before you start. If you have a good strategy which wins 50% of the time (This is very generous. even the best traders in the world struggle to achieve 38%) and you make double your risk on every winning trade as reward, you need to manage your risk appropriately. If you risk 20% of your account on any one trade with this astronomical win rate, you'll be broke in 32 trades. If you cut your risk to 10% you'll be broke in 1024 trades (5 years ish at 1 trade per trading day). It's just probability. Never risk more than 2% of your account on any one trade. I have a feeling this guy had no idea what he was doing, got over confident after getting lucky, and blew up his account by trading on 4x margin risking significantly more than he should of. If you've been trading for less than a year, your risk should never be higher that $10. Period. No matter how much money you have. Don't be stupid. Don't be this guy.

[@CookKayaks3604]

shalow123 A 50% win rate and a 2 Risk Reward ratio will always mathematically be profitable and is absolutely attainable with the right methodology and risk management.

[@davidastle9472]

I don't think it had anything to do with margins. The second the money was withdrawn from the IRA, it became income. If it was in a brokerage account and transferred as an inheritance, it would not be taxed until it was withdrawn.

[@jakeweston8616]

78% of traders lose money? I thought it was more like 95%? So you're saying I've got a chance!

[@LestatFPS]

LOL ME

[@edwardkowalski8125]

Lol 😂nice

[@Mellyxxxxx]

Bro less than 2% make money

[@Mellyxxxxx]

The 22% thay don't lose either make or lose very little so basically break even. But in the long run cuz majority quit after a year. In the long run over 90% lose their money. The only people that make money trading are the people selling courses online lol

[@emsea1658]

They can blow $300,000 from an inherited IRA in trading but need dave to explain to them what a regular brokerage account is. The ignorance and stupidity is amazing.

[@ineedhoez]

Right? You are trading but you don't even understand the basics

[@bullonwallstreet]

Yeah, well she is calling in not him. I'm sure this husband knows what it is.

[@greenearthblueskies8556]

BullOnWallSt He wasn’t man enough to call Dave himself...had the wife do it

[@korn111685]

-$316,000, that hurts!! Turns your gut inside out!

[@SoulFlavor18]

Just picturing the years of sweat blood & tears to get out of a hole that big.

[@zeblackboi]

He snapped that 300k out of existence faster than Thanos could with the Avengers.

[@mellel5594]

I'm sorry the $300K inherited money was lost. And I am sorry that the husband was diagnosed AFTER the money loss. There is no room for emotions in stock trading.

[@nylixneylix8785]

I agree, there's no place for emotions in trading.