Day Trading Is Not Worth It

Timecodes:

0:00 - Intro
0:48 - You Are Not A Professional Trader
2:19 - Most Amateur Traders Lose Money
4:36 - Day Trading Is A Lousy Job
5:21 - Psychological Stress
6:15 - Day Trading Can Get Expensive
6:53 - Higher Tax Rate
7:34 - Takes Time Away From Your Most Important Job
8:19 - Encourages Gambling Mentality
9:06 - Hard To Tell If Luck or Skill
9:33 - You Don’t Have To Day Trade To Build Wealth

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[jejudo]

All the trader guru scams are so obvious to spot. If they are actually making the money they claimed, they are not going to tell anyone about it…

[Lonwolf.]

So sad you weren’t able to make daytrading work for you my first year daytrading I almost gave up as well. Most traders don’t make it past a couple months because they give up I’ve been trading now for four years. I went full-time last year best decision I’ve ever made in my whole life.

[aaronj]

The crazy thing about this video is that hes dead honest and right. He paints the bigger picture of what really is going on behind the scene from the financial side to the psychological. Some youtubers slip up and eventually you can see that they, re not full time traders but full time youtubers.

[ironmanbox]

You are right in general that day trading is not a good idea for most people, but it’s like saying don’t start a business because 95% of businesses fail. There are ways to significantly improve your chances of having a successful business, but most people don’t avail themselves to these things for a variety of reasons. The same can be said of day trading. Additionally, the Brazilian and Taiwaneses studies are outdated, and the findings not transferable to US traders for a variety of reasons.

[ElverGalarga]

I don’t make 25k a month but I do make 1k-2k a month. I don’t risk much and I follow my rules

[ddda]

Very well said. I lost almost 6 figures over 2 years day trading and the stress that goes with it is just not worth it. Legalized gambling really. I bought a rental property and am ok with slow and steady now.

[Sswervyy]

1. "you're not a pro trader" you dont need to be, just practice and study on how it works. 2. "most lose money" most people gamble on the market and dont study, thats how you lose money 3. this is a lie, it doesnt take more than 3 hours to keep up with the news and market 4. if trading stresses you out, that means you dont enjoy it. so trading is not for you. 5. information is free on youtube. 6. day trading tax rates can be anywhere from 10% to 37%, its not that much. 7. dont spend a whole day trading, only spend a couple hours, thats it. 8. dont gamble the market, do your research. simple. 9. its only skill if you do your research, its luck if you just gamble your money away. 10. no one is saying that in order to become wealthy you need to day trade, thats a blatant lie.

day trading is great for people that actually enjoy it and want to study and learn about it. you will make profits this way...
if you dont study and just gamble on it, you will lose money. <-- thats the 80% of people that gambled and didnt study, thats why they lost money.

[flopiesch]

Disagree with 4:37.... If you have developed and backtested a strategy that works, daytrading is the best job ever, if you put your emotions aside and control them. You can work from everywhere and you def dont need to sit in front of the pc all day, you set alarms and wait for trades to come to you. But I know you mean beginners with this video and I agree with you that without learning and studying, you cant become a profitable daytrader in a short time

[GananciasNetwork]

I do daytrading and I'm doing pretty well. I only trade two or three times a month for 10 to 30 minutes. Most people over trade that's why they lose money. You only trade very specific set up and only when your risk management allow you to do it.

[joelloo]

I agree with you Tae. I tried day trading a few times and I gave up after losing money. Spent a lot of time and energy and the returns are not worth it.

[AllenManor]

I know several highly intelligent, well-educated, successful people who call themselves "day traders". Every single one of them have the same story -- "I should have bought more/I should have bought less/I should have bought later/I should have sold sooner". They all have stories of amazing gains -- followed by crushing losses. Every one of them seem disgusted with themselves and full of lament and regret.

[chriskabanda]

I trade profitably from home on my phone. You don't need to be a professional.

Trading doesn't have any significant stress not in other businesses, because you can backtest and practice on demo accounts before investing real money. Only gamblers (reckless people) indure much stress.

[naturetherapyfilms]

there is nothing wrong with day trading. I agree in what you are saying that it is risky; however, what people forget is that everything in life is risky. Even drinking a Coffee in the corner Starbucks store near your house because someone can come and create problems for you and other people. Day trading is a profession for some people if that is what they want and love. The problem here is that a big percentage of people do not what to take the time and effort to learn the pros and cons of this business. I like the fact that doing money slowly is a good thing; however, there is not only one way of making money. There are thousands of ways to create wealth. If I am selling ice cream ; I am going to tell every body that eating ice cream is the best way to live your life. I like the fact that your points are right and clear and make a lot of sense. It makes a lot of sense for some, but not for every one. If some one wants to eat a hamburger; it is good for them if they want to. Others do not want to eat a hamburger and that is the reality of things. My point here is very simple. Day trading is not for everyone. Only for a few people. That is the reason only a small percentage are successful.

[deegaming]

It takes a very special person to understand the mathematics behind trading.

[itstheeraka]

Forget about "DAY TRADING".
95% of YouTube channels fail
85% of real estate Business fail
80% of dropshipping stores fail

So my genius mind says to do a 9-5 job because of high failure rate🙂

And my dumb mind says to find out if there are common things that unsuccessful people do and do the opposite👀

[EbenezerNimh]

Well said that's why I chose Swing Trading thank you for the video.

[RedDiamondTrader]

The biggest obstacles to being a successful day trader is two-fold: Understanding and risk management. Most do not understand how the Market functions, thus they are using the wrong tools. Secondly, has to do with each trader's character. Generally, everything you said is true on one level... and will stay infinitely true until the reasons I mentioned are addressed. Then everything changes. I have one focus... the S&P e-mini and do exceptionally well.

[brucef]

I love the new low/no cost brokerages. They enable my idea of day trading. $5 into VTI every day. Rinse and repeat for the next 30 years. I'm much happier avoiding the speculation of day trading and hopefully also more wealthy. I'll save my speculation for lottery tickets when the jackpot gets over $1 billion. Great video.

[SantaBarbaraAlberto]

This is one of the realities I learned when I retired even after reading books on index investing. See and hear a lot of people and family saying I am a trader. They look for the tip at work or the next Apple. Even among working peers at work, the buzz word was about the upper coming stock. Cramer's buy, buy, buy.

The realization has been that you are not a day trader, professional trader, or trader. You are, at best, a long term an index investor. Still have some aggregate positions to emphasize growth and dividends. I made more than loss but definitely not in my wheelhouse of skills. People don't understand how hard it is to be a trader. Thanks for the video.

[ktburger]

“so you’re saying there’s a chance??” 😂 great video Tae!