The Truth About Day Trading 

I'm taking cfa myself. basically if you want a career in the industry you must understand how it works

@@ngominh7987 , What level are you and who do you want to become?

@@WarwickAvgur What's Tesla's income minus green credits, which Tesla believes will start to decline in 2021.

RU-vid Watcher , net income of 20 billion for the year 2022 given that corporate tax stays at 21%. They will sell 2,500,000 vehicles that year.

@@WarwickAvgur if you look at the CFA curriculum you will see that it is not only intended for active managers. Here it is for the 2020 Level III exam: Ethical and Professional Standards 10-15% Economics 5-10% Equity Investments 10-15% Fixed Income 15-20% Derivatives 5-10% Alternative Investments 5-10% Portfolio Management and Wealth Planning 35-40% All of these topics come up on a daily basis for me, and I am not an active manager.

Just in time before daylight saving time ends! :)

US daytime, Malaysia night time. Yeap!

Lol that's funny

its called overnight, and thats the worst time for trade anything

Fucking legend

But you wouldn't have made 1 million then, you would have lost 1 million.

@@alexc5369 He’s joking, but right on the money 💰 👍

@@alexc5369 you obviously don’t understand sarcasm

@@alexc5369 you 'make' it disappear in this case.

How to end up with $1M when day trading....start with $2M.

Laughing moment... 🙃

Everyone is a genius when the market is going up.

@@hatter1290 I was making money when the market was going down too. But long term I was only matching the aggregate market returns, and with a lot of effort on my part. Passive etf investing is so much easier, and for the same returns.

@@Green__one thats exactly what I always have wondered... all these traders never show their overall CAGR.. why do they still do it though? Some ppl sell courses and shit that’s a convenient source of income for them. But why do the others do it? thanks man!

@@pran10000 socially excepted form of gambling.

Used to day trading too. It's kind of stupid when you get the money just by holding.

Most of them lost their accounts the first day I'm assuming.

That was me lol. Should clarify. I tried to day trade one stock once and was like "yeahhhh.... This isn't really rational"

You're assuming that that's not because they yolo'd their entire portfolio on a SPY call expiring the next day

@@weeaboobarko That would be Option trading rather than traditional day trading. An option trade treated like a day trade is called Scalping.

Good one! 🤣

That is a great comparison and an interesting anecdote. Thanks!

The easiest and fastest way to make money at poker is playing against the drunk fishes at planet Hollywood casino. I started with $100 bankroll and turned it into $3000 in 3 times

Not a fair analogy. I was a poker player too. But there is a limit to how much money you can make. There is a limit that is based on your ability to sit in a game, focused and prepared, and a limit of number of players which also spreads to number of hands per hour, etc, total money available at any given time to be won, etc etc. There is ZERO leverage in poker. It's dollar for dollar. Not so in trading. But, nice try at an analogy. You get a D grade for the effort, and it shows that you know very little about trading.

@@exploringwithdave5926 Are you drunk? Rubber's message was not related to day trading per se, but to the Paradox of Skill (starting from 8.35 in Ben's video).

@@PierSilver I am not drunk. It is very interesting, all of this information. All of these very fine well prepared and neatly typed and graphed reports. I suppose if "Day Trading" is narrowly defined to only include those person's who trade only in the market during trading hours and pull all trades by market close, so as not to carry a trade overnight, then I would likely agree with that data. And no, I am not drunk. However, I consider myself a "Trader". I exclude the notion of time. Why? Because every trade is unique, and all trades must be viewed in that context, which would dictate the timing, entry price, exit strategy, safety net, etc. But, the paradox of skill... Does not apply here. I would venture to say, like baseball, the skill level has risen and so has the competition. Except, not all of the competition is competent. This adds a level of variance which serves all sides. Call them the fish. Rational market algorithyms aren't so adept at understanding irrational behaviors. That gap creates opportunity. Nonetheless, I will agree that day trading is a challenging and In my opinion, less interesting method of trading that is more akin to and likely satisfying for, a gambler. I have watched some of them online and they are glued to 1 minute charts like addicts, calling out for green, and chiding the red... It's ridiculous and silly. Truly that is like watching KENO numbers or Slot Machines. Gambling at its best. I am a trader. Period. There are times when I'll trade something for a few minutes. If the opportunity presents itself, and there is bandwidth to catch some momentum, I'm in. But those are few and far between. I am a swing trader I suppose, with various trades in play at any one time, and a lot of energy researching them, watching them over the course of their lifetime, and making executive decisions to add or subtract from the positions as I see the trade develop. It is very different, and in many ways more like tournament poker. My point about Poker, regardless, is that the analogy he was making with Poker is not truly a good one. Even the idea that when you make money someone loses money is a fallacy in trading. In poker that is true. And when you wipe out all your players you hold all their money. Poker is not scalable. It relies on individualistic behavior. Trading is far different. And, I should know, because I am, or have played the part of both. I see zero corellation. In fact, I don't look at the market as a bunch of competitors. I see it very different. They are not necessarily competitors in the same manner. I view trading very differently. But then, I am different. I am successful. There is an idiom that applies to almost all forms of trading: 90% of traders lose 90% of thier stake, in the first 90 days. This is a likely outcome. It is true, like poker, that people approach it as if it were simply easy, and they act wreckless in it. That wreckless behavior often provides initial good fortune... But it wears itself out and the other side of luck catches the player off guard just as they were begining to believe they were experts! All of a sudden, broke. There is truly a parallel with that for sure. And, I suppose in that way alone, a good poker player is like a good trader. Know when to hold em, know when to fold em, and know when to walk away. But the activities themselves have extreme differences. By the way, poker is not gambling. That is a misnomer. Poker is a game, this is true, and like most games, skill is a predominant factor of winning. The same is true for "Trading Markets". This is evidenced by the number of very successful traders. I don't speak to Day Trading... That seems to. Me to be very casino like. I have that experience too, and approach it very differently. Let's have a drink sometime. Take care

Sounds good in theory, doesn't work in reality. You can't get rid of certain edges

@@drsgme69 Maybe risk factors as a whole, and for the long term. That's about it.

@@drsgme69 Certain edges like what?

My financial engineer professor told me that we are not learning to become a trader, no, we learn to become the casino staff, and casino never take risk itself, and that's when I realised what day trading actually means, fat profit for banks and agencies who actually manage their risk and earns premiums and commissions, not some gamblers who thinks they can outsmart everyone.

There's definitely a chance. If you have a genius IQ and dual PhDs in mathematics and machine learning.

There's a chance to win the lottery as well...

lol! You bet!

Ahhh, a fellow optimist. I'm planning to fund my retirement by buying lottery tickets. Much easier than day-trading : I only need to get lucky once and i'm set for life :)

Ha ha nice reference for Jim Carry

@@Smartskull0 Not true. A small percentage, as Ben mentioned, do make legit money day trading. Those are the ones proud to show their monthly statements. However, 99% are making money selling courses.

it`s like the old days with the goldrush. The desperat men looking for gold always went bankrupt. It was the men selling alcohol, whores, food, shelter, equipment to the golddiggers that made money. And maby 0,001% became rich from the gold ( that they often lost again gambling it all away in the stockmarket). Real fortunes are made on investing in the long run ore making real products/services and selling it to the public. The same go with speculating in the short run in realstate vs buying holding/renting out. the first is gambling the second is a legit way of making money

Yeah, or just with shitloads of RU-vid views like humbled trader

@@Smartskull0 very true. Besides they never show their overall CAGR, just profitable trades as proof

False!! Who tf hell doesn’t want to make a course to show people how to get money like them? Exactly, stupid!

Passive investor and dog walker = genius

and I think that too many people use the word investing inappropriately. What is the term "investing"? Is there a difference in the goal? OR, is it just a time issue? Surely the system is set up to support longer term investing by providing lower taxes on investments held greater than one year, but, really if you think about it, they are not so different otherwise. For me, the word investing is simply taking the long view, and not paying much attention to the daily swings in price in any or all the bucket contents that one might hold in a typically balanced account. At the end of 20 to 40 years, there is an expectation of a gain. An average one at best unless you were a great picker or had followed a successful trend (not knowing in advance likely that it would or could be, since all of it is speculation). For a technical trader however, the gains can be far greater (and losses far greater as well, surely). And factoring in the tax increases for short term gains, most people might think it is just not worth it. But, that is because they are either unwilling or uninterested in the trading ideas. It does not have to be "Day Trading". It can be a mix of "trading" styles. Whatever will make a profit. Most people fail miserably at this, including me, at times. But, being schooled long enough, one gets seasoned and can begin to see the typical patterns that emerge with the converging / diverging fortunes of each tradable asset. Money can be made in both directions and quickly. It is not uncommon to make 80k in a day, and lose it the next if you arent careful. The goal is to be right more than you are wrong and to use stops to protect yourself from disaster. "Day Trading" is specifically looking for small moves, and not being in the market for "after hours events and news" which can kill a company stock price overnight. Any way, both are "investing" some risk for some reward. I cannot trade stocks without some investment of my own, borrowed or wholly owned. I think it is a fallacy to say that traders are not also investors, but they certainly have a different style and timeframe. But I guarantee that all people will pull their money if the future returns start to look poor, no matter what style of investing you do. Just because they are not actively trading, does not make them more intelligent, or more godly like. The goal is the same. Make money. true is. D

@Ben Felix Scam alert! 🇳🇬🤴🏿

I don't think day traders are looking for rational markets, they want predictable markets.

Day traders have been wiped out this year I would assume, nobody could have guessed we would have 10% unemployment and the highest stock market of all time.

@@demilishing But the ones that made it through will be louder than ever. Happened to make the right choice at a risky point and then "hOw tO BeAt ThE CoRonA ViRUs MaRket 100% oF thE TiME"

@@GlobusTheGreat "Just buy when they go down because they're only supposed to go up"

@@demilishing Not Tesla lovers on Robinhood. Half made out like bandits, and then proceeded to lose it all on another stock market gamble.

You don't need to pay money for a course in trading. And you don't need to go to medical school if you want to be a doctor... Oh, wait, you do. Well, ok. Maybe you could home school yourself to be a doctor. After a few dead patients you'll start to get the hang of it. Right? Ok. So, the fact is, you need to INVEST SOMETHING to get something. To attain a skill, you need to invest time and attention coupled with practice and evaluation. You can seek that knowledge on your own, if you aren't like the typical lazy person who believe you get a dollars worth of value from a dollars cost of education or tutoring. I'll tell you flat out that most (if not all) trading school schemes today are bogus, but not because the content is poor, but because they over estimate the students abilities to even get close to understanding any of the content before they go heads up broke. Don't be lazy. Read. Watch. Practice with a small account. Read more. Watch more. Practice more. Rome was not built in a day my sad friend. Money cannot buy you ability without a more personal investment of your own interest, time, attention, practice, and rework. Piano is just as hard and takes 20 years to master, or we would just become concert pianists too. For some it could be faster.

@@exploringwithdave5926 thats legit a BS argument. comparing a hobby trader with a doctor saving lifes. like cmon t-dog. yeah its true that u can and should invest into your education. but the thing is you can gather all the information free if you put in the time. if you pay 5k it will take a while to make it back, and beeing profitable in the first year will be a hard thung. but ye men i see your point

Dude🤦🏽‍♂️

@@exploringwithdave5926 Better to learn a real skill like electronics engineering. Then I can invent something that can make millions as well as create businesses. Trading doesn't provide any extra useful skills.

Il thrust you.

@@teun7923 🤣 I just caught that

And some of those guys get views almost equal to Graham Stephan like Ricky and ziptrader

@Ben Felix 🚨🇳🇬🤴🏿 This is a scam y’all 🚨🇳🇬🤴🏿

@Ben Felix Scam alert! 🇳🇬🤴🏿

@Ben Felix Scam alert! 🇳🇬🤴🏿

There's the LTREV, STREV, and Momentum (cross sectional/trend following) factors, maybe they could be compared to other types of trading

Last I read, I think they had 200-ish Ph.D’s on staff. (Real Ph.D’s: math, physics, etc)

You can legit use something like fibonacci levels lmao

@Ben Felix Scam alert! 🇳🇬🤴🏿

@Ben Felix 🚨🇳🇬🤴🏿 This is a scam y’all 🚨🇳🇬🤴🏿

Link in the description link to the video

@Ben Felix 🚨🇳🇬🤴🏿 This is a scam y’all 🤴🏿🇳🇬🚨

Google doesn't care, I have reported actual scam not something that looks like a scam or similar. I described the operation and everything in detail to them. The official response from Google was something along the lines that they are not responsible from the advertised products. I was only asking to remove the ads not to take responsibility but anyways they made it clear that they don't care what the advertiser is doing as long as that are getting paid.

Naw... RU-vid shouldn't act as a publisher since they have no responsibilities as such. Allow everything or be liable for its content... One or the other. It's gross that they can currently decide which content they allow, but can't be sued for what they do allow. Makes them waaaaay too powerful. Same with FB, Twitter etc.

That is a big accusation. The truth is, colleges have thousands of drop outs. Are colleges a scam too? And, of those who stay in college and get a degree, many cannot succeed in life. Is that also an indication that colleges are a scam? Take personal responsibility for your life. If you don't like one school of thought find another. If you want to learn to trade invest the time and effort. Lazy is as lazy does.

What was it like day trading for a living?

And those were mostly just some Russian teenager trying to squeeze money for vodka out of suckers in poker tournaments, with stock trading you're up against multi-billion-dollar companies hiring teams of geniuses with PhDs to design their trading bots. The chances of you coming out ahead in the long run are basically zero.

Lotteries are also really big in brazil. Coincidence? I think not.

Braziliians love the idea of easy money. That's why our people keep falling for pyramids, lotteries, gambling, day trading gurus

@@marciocruz4758 I heard Nigerians are very similar, that's why pyramid schemes are very popular there.

E aí, depois que passou o efeito de retardo mental, produzido pela ideia de dinheiro fácil, comecei a raciocinar melhor e vi que muitas coisas não se encaixavam nesse "paraíso" descrito pelos gurus de elite. Decidi pesquisar o outro lado da moeda, nada melhor que ir direito na fonte, já que isso surgiu nos EUA. Os argumentos usados no vídeo só confirmaram minhas suspeitas: é sim possível lucrar com day trade, entretanto vendendo sonhos não operando. Pena que nossos conterrâneos não são capazes de fugir dessa ilusão, que na tentativa de conseguir uma renda extra acabam por despender seus poucos recursos.

And your alternative to get rich is... I'm still waiting.... Silent? No other way? Have you found a way to get rich? Oh, let me guess, put 10% of your earnings in a 401k, for 40 + years, then retire with enough money, if you were lucky enough to make good money and could afford to put money in to one. How else? Oh, that's right, start a rival Amazon or Apple. Or, maybe start a business by risking all your assets on the future if some industry. Right? Well, there is a bit of risk in all of that. You just don't see it. It isn't necessarily a short cut either friend. Because a successful trader generally has quite a bit of schooling and learning. Do you believe that playing baseball is a shortcut? How about being born more intelligent than others, is that a shortcut? Did your boss who makes more than you take a shortcut too? You should realize that the trail you CHOOSE, can be as long or short as you like. It just depends on you.

@Ben Felix 🚨🇳🇬🤴🏿 This is a scam y’all 🚨🇳🇬🤴🏿

I saw statistics that show 99% of Brazilians who day trade lose everything. Most of them make minimum wage.

"uh, _what_ ?"

Maybe he's blinking at the same rate you're blinking, so you miss it

The wheel strategy is a good strategy with the right stock setups. But it also has its negatives. Check out Markus Hoetkeiter. He teaches for free on youtube.

@Ben Felix 🚨🇳🇬🤴🏿 This is a scam y’all 🚨🇳🇬🤴🏿

Those who can; do. Those who can’t; teach.

@@dhess34 I've often found that phrase demeaning to teachers, but I think in this case it works.

@@stevenspencer306 Its demeaning but its kinda true. Someone who has an exceptional understanding of physics will end up being a Physicist whereas someone with a moderate understanding might end up being a physics teacher.

@Redemz And you'll find many exceptional Physicists are university professors where in order to conduct their research, they are usually required to teach. e.g. Richard Feynman taught at Caltech and was also a Nobel Prize winning Physicist.

@@stevenspencer306 Education majors aren't very selective. All the smart people go into STEM, Business, Finance. The leftovers become teachers. Sad but true. We don't value teachers in our society like we should.