Day Trading is a Scam

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DISCLAIMER: I am not a financial advisor. The content of this video is for entertainment purposes only and does not give any recommendation to buy or sell any security. Investments of any type involve risk. These videos are meant to document my experiences and do not provide any guarantee of gains or losses in any investment.

[DanielInskeep]

the joke didn't land, so in case you were wondering, the bank account and brokerage account ARE FAKE. i was just trying to show how easily faked something is.

[SteveJohnson-htkv]

Day trading isn’t a scam, it’s just not a good idea for 99.9% of people 😂

[nickthaskater]

Calling things scams or woke is a lot easier than spending 30 seconds to take some personal accountability.

[MaxLorenzo]

Well said. Critical thinking is unfortunately not a skill most people have, and they factor out the possibility that they either lack the patience or are just not good at something - and are quick to assign blame elsewhere. On top of it, people go into endeavors with entitlement and believe success should come easily. I think this video is much needed.

[tradebum]

Daytrading is not a scam ITS REALLY FFING Takes more than 5yrs of real screen time and education to be a successful day trader. Has taken me 10! Do the work and you can be a successful DT.

[theautoman]

95% of gambling day traders fail those that take it seriously like starting a business and having the focus and fortitude to last then you can succeed.

[tradingwithtravis]

Great video! I can't agree more with everything here. I hear these types of scam claims from people all the time and it's usually from people who don't see the benefit from going through the growing pains and they often want to shift the responsibility of failure on to something other than themselves.

[junkobash]

Always cheering for you buddy! Keep grinding! Good luck!

[rhodrycann]

Great video, full stop. That blockfi email cracked me up 🤣🤣🤣

[vitorgouveiaf]

Day trading is mostly statistics and some probability theory. There is this concept called the efficient market hypothesis, which states that basically the price is always right, one can't buy or sell in the same day, but that is not true. There are some anomalies in the data. For instance one big investment fund selling 10.000 shares of Tesla will make the market move, opposed to a retail trader with his 100 shares of Tesla. There are some subtle differences that can be explored. It takes work.

[tamslean]

Man I am so happy for you getting green after the year learning! Super inspiring, I'm 7 weeks into the space, learning (and losing combines!)

[naozumii]

Thank you for the video it is very helpful having some insight into space as I am trying to get into it. I do have a genuine question which I surprisingly cant find a lot on.
Question: How are your profits taxed when you day trade?
I feel that this is something not a lot of people talk about when it comes to trading. Often what is shown are the "massive" amounts of money you can bring in but never how much of it you actually get. Sure I can make 10K out of a trade or maybe just $500 but what do I really have at the end of the day. This would be insightful thank you!

[dw]

Don't 80% of the gains come during the gaps up and down in pre/post trading?

[lilmissbeats]

This is such a great, well-thought out and communicated message. Kudos to you for sharing content on this topic, I hate talking about my trading outside of a few select individuals, it's just too many questions and misguided ideas - which makes sense because no one knows what they don't know until someone teaches them better. You managed to dissect a big part of that misinformation and correct where some people's arguments fall flat. And to anyone reading this, in trading, no one ever 'arrives'. You can be profitable or not, or profitable for 1 year, 2 years, 10 years. But vigilance is ALWAYS a must, as pride comes before a fall. Always be watching!

[leonard]

Just found this channel. I really enjoy your videos and i find them to be very helpful. Soon this channel will have 500k subs at least!

[Dx_Ach]

how was PATS? I noticed you switched off of it, did it turn out to be way to subjective?

[tlw]

If someone were to buy a futures position at a time where the price is unusually low, thinking the price will rise, but the price drops further, is there a reason why someone can't hold onto the position for a few days/weeks, because the price is probally going to rise above your buy price at some point. I'm just a beginner though.

[OptionsWealthAcademy]

Well said! Trading in general is hard. It takes a lot of patience, discipline and tons of hard work on the front end. As you said though, once you develop a system, the reward will come.

[Cactuspractice]

Probably missed the reply time-window from Daniel, but id be curious to know what role he sees personality playing in being good at trading. Ive heard people talk about needing to have 'nerve' and was wondering whether that translates into being stimulated by taking risks, like if you are 'risk averse' might you not have the grit neccessary for it? maybe being risk averse is a good thing if tempered by some other character trait..any thoughts Daniel?

[Dzzzz-rktj]

How much did it take to you to learn how to trade ??