We Lost Over $300,000 Day Trading!!
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@@theonetrueking2685 Ennegram is awesome.
Every trader is always talking about money they lost, yet ive never heard of a wealthy day trader every rich person is self made.
I could tell sheâs stupid right away and then I was sure bc she canât listen.
Dave, I love your show but please don't use Christ's name in vain.
Experience definitely needed before you start risking in this craft.
They didnât lose money; they supplied liquidity to the market.
Loool...
Need to save this one!
đ€Ł
đ€Łđ€Łđ€Ł
ENRON: âWe didnât 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, nothingâs guaranteed!â
"The stock market is a device for transferring money from the impatient to the patient " - Warren buffet
âThose who understand interest earn it, those who donât pay itâ
I mean sure if you invest in a stock. Those gambling on options and futures however...
@@emsea1658 interesting point.
USWMO quote by Albert Einstein
In a bear market, shares return to their rightful owners
Imagine making 38k a year and you lose 300k a year
I too would be bi polar after that loss.đłđ€Ł
I canât lol
it happened to me. TWICE. Yep, I'm a sucker!
@@Cryptokat you need therapy sir
Iâd be suicidal after that lol đâŠ
Me being negative $1,200 doesnât seem so bad now
D W đ yeah my 200 loss has me thrilled at this point
@@ryw00d if your worried about a $200 loss trading is not for you
It's all relative....
@@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%
@@cantu7614 yeah I know maybe it was a poor kid that could have taken months to get 400 my mistake
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.
Yuppers đ€·đ»ââïž
I became more mature than most adults at age 17. It's a sad world man
ThatsMyJames well said..
Exactly
I am not!
Sounds like her husband is a fan of r/wallstreetbets
Jason Bond lolol
Lol
đđđđđđđđ I thought I read about this the other day đđđ he might have lost money, but he is legend on wsb.
@@BruceBurger hahhahaha priceless connection dude
mod material for sure
Imagine putting 300k into stocks that paid monthly dividends.
simple as simple does!
Figure about $10k of income per year.
What are you going to do with your 10$ yearly income
@@josephbailey4463 youd probably get about 5000 a year.. still a lot.
Dividends make jack shi
my dad just died *crying*
dave: whats your household income
Rip
Or hed tell him "Rice n beans for 3years"
Sell the car and the casket
Your donations to the market were appreciated.
Dead. â
Anthony đđ€đ€
đ€Łđ€Łđ€Łđ€Łđ€Ł
đ€Łđ€Łđ€Ł u guys are brutal
Honestly thatâs not how to market works. If you loose money itâs because you bought and sold at the wrong times. But if I make money in the stock market itâs not because someone else looses money. Itâs because I bought low and then sold at a higher price. Has nothing to do with someone and if they gain or loose money.
He lost 300,000 in 6 months clearly he didnât know anything about risk management
Worse than that, it was 6 *weeks* he lost the money in.
I wonder which side of the family this wealth came from (his or hers).
Or position sizing...or technical analysis...or fees.... or trading.
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.
It stemmed from ignorance and greed.
It's not his fault, he's "buy" polar.
I see whatcha did there
He wouldâve been better off if he was a âbuy-holderâ
lol that what i was thinking.
đđđ
đđ
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.
This is a major success story for someone else
Tomas Smith yes. The bank
How?
Zero sum game,for a winner someone else has to lose.
yeah, the success story is Tesla.
@@vinceslapchopper
Tesla is not an investment by any account.
He's wasn't trading, he was gambling. Please know the difference
He was investing.
Preach
TheBibleonly nope if he was investing heâd still have it, it was gambling
Facts!
â@@iamgionism1453 you missed the point he was trying to make
- we've lost 300k day trading. how can we make it back?
- open a brokerage account and day trade.
seems logical
What could go wrong?
@@justfine77777 Haven't you heard of "confronting your demons"?
@@ProverbialGeek I have. I donât understand how it applies here.
@@justfine77777 Was being sarcastic ;)
Update: The wife's boyfriend loaned him some money to buy GME calls to get 500k back
Too soon bro, too soon.
@@jonboybilly... No itâs not. Itâs right on time.
WSB on these videos too??
Ur subreddit did this!!!!
He should have kept going. He might have made it back
@@1pwNz0mb13Z DIAMOND HANDS BRO, DIAMOND HANDSSSSS
I'd be diagnosed bi- polar AFTER losing that much!
I'd be divorced if I lost that much.
You need someone to diagnose that?
Lol...
No kidding
Yeah... he gonna need to come up with some diagnosis in order to get her to stay.
They had been shorting Tesla.
haha, short sellers deserve what they get
jlebrech buuuuhhhh
đđđ
Yeah I genuinely think that's the only possible way that you could this 300K in today's stock market
Elon Musketeer
Or trailing stop like I did.
Rule number #1: Don't trade stocks if you have a bipolar disorder
Diagnosed bipolar after the loss. I think thatâs make anyone crazy
He didnât know đ
Why I like to watch Dave Ramsey show. Is because it reminds me that thereâs other people in way worse situation. More debt. loss more đž. And it reminds me everything will be ok.
Wow. They made less than 40k and loss 300k. My heart hurts for them
@Big Ballah I'd agree since they will be our problem someday when we're paying taxes to pay for their government assistance.
My heart hurts for the poor people who worked so hard to leave them that inheritance. They did not earn it, others did.
Someone clicked on too many Warrior Trading and Ricky Gutierrez ads đ
Lol... đđđnot 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.
@@TimCurry04 ok bud I wish you won't be the next caller on the Dave Ramsey show in the next couple of years. lol
And Timothy Sykes ads
lucky menamnam đđ
"Jason Bond here . . ."
Wow. It's impressive how calm his wife is being. I hope this guy realizes how lucky he is and gets help.
He's not lucky, she's an enabler. Just like an obedient wife pouring a shot of tequila to her alcoholic husband
@@sehoujay right
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.
@@sehoujay I hope you realize how brain dead you are
@@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.
That's messed up. That was someone's savings and they gambled it all down the toilet. My soul wouldn't rest easy.
They gambled an inheritance. đ
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.
@@bighands69 could be... but to the tune of $300k is a stinger no matter how you look at it
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.
MY GENERATION IS BRILLIANT
Whoever gave them that money.. My God.. So sad
This woman really loves her husband.
Sheâs part of the problem....an enabler.
She has to love and depend on him; she has no job.
Loves him, as she should.
Him losing that money might actually be a good thing for them.
@@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.
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.
95% lose money
@@mr.wonderful4737 95% of what? People who wander anywhere near a free brokerage account?
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.
@@mr.wonderful4737 Iâll say 90% is
More accurate
I was just getting ready to do baby step 4 when I got laid off đ. Im thankful to God for showing me Daveâs plan. The baby steps works.
Imagine passing down your hard earned money just to have it all thrown away in 6 weeks.
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.
@@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.
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.
@@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.
@@costco_pizza Yes, I agree the spoiled and entitled, or those who do not manage money skillfully, should receive nothing.
its easier to loose money if you dint work for it
Another way of saying this: That which is easily acquired is lightly esteemed"
Gamblers donât care where it came from, itâs the chance thatâs the drug. âIâll hit the next one, for sure!â....They rarely do!
Why does nobody know loose/lose anymore ffs it ainât hard
@@tylerdingo4063 and didnât
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.
Great reply!
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.
I love this show because you get to learn what not to do. Learning from peopleâs mistakes. Valuable lessons here
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.
Whoa
Wow! Way to deliver that dose of bad news!
I would just had buy single stocks with 300k; apple, Microsoft, tesla, amazon and keep it forever đ
dan cussin thank you i will check on intel
Sounds like both the wife and husband don't think it's a big deal.
I was thinking the same thing. Emotionally unstable people shouldnât be trading. Thatâs rule one.
I thought rule one was don't trade stocks while you're high
That's why I don't do it. I'd be way too emotional over that loss.
tlessmo you explaining what you just did literally told me you know absolutely nothing about trading and are an idiot, âI bought big dips in companies and I had no idea what I was doingâ thatâs exactly how you donât trade
@NonyaBusiness!
He has a condition that meant he had no control of what was occurring.
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.
Inherited money just lost đđđđin seconds. That's the saddest story to hear.
Should have just bet red for 300k at the casino.
He probably woulda bet purple.
Hahaha thatâs what I would of Done lol
"Always bet on black." -Wesley Snipes, Passenger 57
He didn't earn that money so it was easy to blow. Easy come easy go.
Will you let me go? Bismillah!
@@hectormoreno9793 no, we will not let you go! No! No! No! no! No! No! Mama mia, mama mia!
Imagine being that person who saved up for years to give him that money.
Bars
@WorldFlex This is a CPA question.
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.
I am thankful to people like her that are brave enough to share their experience. Thank you Liz. God bless you and your husband.
Husband not a day trader; a huge gambler maybe.
Losing 300k in 6 weeks is insanity.
No risk management whatsoever
Risk management skills: F
Deep Thinking Good enough for Robinhood
No 2ndLTs in this call
enough risk management couldn't save him in his mental state
trading 101 lol
rochester3 mental state is part of risk management.
My exâs grandparents spent 25,000 on a day trading course. Imagine losing 25k before you even start trading
đ€Łđ€Łđ€Łđ€Ł
đđđđđđ»
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.
Yes. Better to lose 25k than 130k. Dear God, I lost 130k day trading.
Dam, they probably were told that the course would teach them to how make $200-300k per year.
I love how raw and unfiltered Dave is with these ridiculous call ins
Imagine if these were your kids and you gave them that Roth IRA, just for them to buy Tesla puts
same week expiration too.
Tesla calls would've been a whole different story
Dave âbetter than I deserveâ Ramsey
Dave "sure, what's up?" Ramsey
Dave âWhatâs your household income?â Ramsey
Dave "Rice and beans, beans and rice" Ramsey
Dave "you shouldn't be inside a restaurant unless you're working there!" Ramsey
Dave "youre spending like youre in Congress" Ramsey
Ps. I loooove this thread lol
Day trading is like when you talk to a gambler, they Only talk about there wins. and not the 80% times they lose.
DAY TRADER IS A GAMBLER
Exactly! This is no bi-polar BS. That is a full blown gambling addiction.
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
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.
I day trade....I'm profitable đ€·đœââïžits just takes a while to get good at it. definitely not gambling
78% of traders lose money? I thought it was more like 95%? So you're saying I've got a chance!
LOL ME
Lol đnice
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"
Where else does she have to go??? Notice she said she just had a baby.
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.
Sheâs lying
@@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.
I heard a saying once, first generation makes it, the second builds it and the third one goes through it.
mental health issues will destory a family. it doesnt matter what gen
Yep thatâs right
Only case with middle class
First rule of the casino - show the suckers some easy profits so they can lose to a factor of 10 later on.
First rule of trading: "Stop Loss"
Iâm so in love with Daveâs grandpaish nagging voice ...I hope he live a long and healthy life so I could hear him as long as I could â€ïž
After years of giving back to the community and educating the world on financial education, Dave still doesn't feel like he deserves to be good. Every video he responds with "better than I deserve", why Dave? You deserve so much more.
I believe the answer to this is in the fact that as Christians we know we deserve death for our sins but praise be to God thru Jesus we have been cleansed and counted as righteous in the eyes God. The LORD is gracious and merciful!!! God bless you Edward!!
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.
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.
@@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.
@@braceyourselvesfortruth2492 Maybe. We don't know.
Bipolar disorder is a very serious disease, and has destroyed many people's lives.
@@braceyourselvesfortruth2492 Now they need to RECTIFY this
$300k lost!!! đ± wow. Life changing money gone with the snap of a finger.
Thanos
âBetter than I deserve.â I had to pause the video after you said that. That response just holds so much value to me. Iâve never seen a single one of your videos so Iâm unsure if itâs a regular quote of yours but I have to say that Iâm 0:16 into this video and youâve already made an impact on my life.
Same
He says that because he is a Christian. The Christian faith teaches that the good that comes to a christian's life is the result of God's grace in their lives, not their own doing. As fallen creatures who sin every day, we deserve judgement rather than good, but God chooses to give grace because is it's nature to do so and grace implies getting a good you don't deserve.
Wonderful advice, felt so sorry for the family. God bless
She sounds very chill about it. Must have been the husbandâs inheritance
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.
agreed
True
Summed up perfectly sir!
The problem with that mentality is you canât 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 letâs say a $200-300 gain. Plus you canât 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 youâre paying commissions.
@@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.
He snapped that 300k out of existence faster than Thanos could with the Avengers.
If they would of put 300k into 3 EFTS they would be rich right now...what a disaster.
You can get rich off Electronic fund transfers?
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?
True
Easier to take a $300k loss if you make $300k/year vs $30k per year..
You should deliver pizza.
@@silverltc2729 Who should deliver pizza?
@@bullonwallst according to Dave...everyone
You gotta know when to hold'em, know when to fold'em, know when to walk away, know when to run.
Ughh, now I have to go look up that song or it'll be stuck in my head all day. Thanks a lot...
This was the time to runđ
The market thanks you for your service!
The money did not get lost. It just got transfer to somebody else's hands who is smarter and will put the money to better use. Indeed, he supplied liquidity to the market.
âDonât ever say again that he was doing wellâ Lol
Day trading is so risky, I love dividend growth investing for the long term.
Iâm with you. I love dividends!
i love dividend paying stocks
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!
Another way and requires Capital than stocks is options or futures. Itâs less capital and more to gain. Got to know what your doing though.
Dividends are so fun!
she is freaking in shock. she is like I LOVE HIM.. he is a genius that just is bipolar... omg. god bless her.
Well either she admits she married poorly or blames it on something else
6 weeks 300k that's worse then most vagas odds. this shows having money thrown at bad situation only makes things worse
Further evidence that if you give poor people money they return to being poor quickly, it is a state of mind.
Na... that aint poor people. That is is stupid people.
Poor folks might blow it all. But they will at least have some nice cars and clothes. Good god.
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...
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
@@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.
This is why giving poor/broke people money doesnât make any difference. Your financial situation is due to behavior not circumstance.
@EvilShake101 Chill with the racism, thanks.
EvilShake101 youâre obviously obsessed with us! Thanks, but no thanks. đđ€
Yeah because having easier access to education, healthcare and low cost of living is more beneficial.
YO I LOVE THIS COMMENT SO MUCH very true
its about how you think of an value money. learn the game of money
This story makes me think of a lot of stories that could arise next year with many people getting interested in trading due to the markets status right now. People are not planning for taxes, not setting aside money in case they do gain. The IRS has limits on capital losses, but not on capital gains. A lot of people are going to be heavily in debt to the IRS I feel.
My man YOLOâd it all on SPY puts. WSB legend to the max.
Never tade with leverage if you ainât sure what your doing
DRE DAY Even if you know what youâre doing, you can get wiped out quick. Donât ask me how I know.
EXACTLY! nail on head, well put..
TheNortheastAl wiped out quick if you donât have a SL or risk 100% per trade
Donât trade with leverage period! Youâre better off with safe long term investments
JAYER _OZ Had a broker who was not keen on SL orders. Live and learn.
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.
Even those people donât live off the gains, they live off the management fees
Thankfully it only took me losing about $4000 to learn that managing risk is more important than being greedy.
Me too
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.
I agree, there's no place for emotions in trading.
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
Thatâs why I quit it, the amount of stress that comes with it is not worth it. Iâve started diversified swing trading and I like it a lot more.
Whatup Doe day trading was the most stressful thing I have ever done, itâs itâs 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.
Bad mindset already no wonder your b*ching about it and losing⊠While you lose iâll happily take your moneyâŠ
How do you lose over 300,000K in trading? They must not have used any risk management when trading to have losses that high.
Validusy Trading in Penny stocks causing this to happen.
Causes*
Or kept buying high and selling on those dips scared he would lose more but kept doing it.
getting excited by shares going up and buying, and selling when you're scared.
Penny stocks
Dave, mutual funds are required to pass their capital gains each year onto their investors. Declared cap gains will always be taxed when you own mutual funds in your portfolio. You don't need to buy and sell stocks/etfs to declare investing income.
Yeh, that's called a gambling problem. Not investing.
1:28 Never seen Dave stumped like that.
Don't know if I have ever heard Dave exclaim "Jesus!" on a phone call before.
Nope. This caller had a new problem for him.
Had the same thought. Haha.
Head scratcher for good ole Dave.
"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.
exactly hahahaha
At the end, I just hope she makes it through all of this with no more harm than she is in alreadyâŠ. We all have lessons in different ways⊠she got nothing from this call but I did get a lotâŠ
he would have had better luck with a down payment on a multifamily home.
That would've been his best bet.
Devoy Williams I think he was trying to avoid the income taxes that would have probably come if he didnât invest the IRA. I donât think a multi family home qualifies as stock investment.
@@TheNortheastAl Can't really avoid tax you can only postpone it.
Devoy Williams Very true.
lol he's still gonna be trading those mortgage payments lol
I would be sick to my stomach losing that much money. đ·
Hard not to gamble as a newbie. REALLY takes tons of discipline and learning.
78% of day traders lose money đŠ
Statistically thatâs called all of them đ§
Define lose money?
@@jeffshackleford3152 end with less than you started with
So statistically all businesses fold too, so never do that either. đ€·ââïž
Ouch! Pulled out IRA and then lost it all. Agree with Dave, youâre going to have to cut losses, make sure you learn from this and start from scratch.
easy come, easy go .... unfortunately.
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!
I don't know how people could ever heal from such a costly and avoidable mistake.
Hard to imagine the wife respecting her husband after this. That is thousands of hours of someone's labor destroyed.
Its only money u can bounce back...chastened of course
I don't think either of them are responsible with money. She probably doesn't see it as a big deal either.
@@junkequation She seems oblivious lol still laughing about it
I
Got swindled out of $180k of taxed money. Still dealing with massive bouts of depression and anxiety. Changed my whole perspective on life
I tried option trading just small amounts and I had awful timing so I think I learned my lesson and saved myself money.
I lost $1000 in day trading. No more of that, now I just invest in real estate. I don't have time to give money away.
First time I seen Dave actually stopped and had too think about this.
Before Dave said it I knew it was going to be inherited money. People with no Financial education or discipline can never build that wealth. It's a shame somebody left that much to them without training.
She is sweet and understanding.
I know a lot of people who inherited money blow it quick ,and on stupid stuff.
Bi polar? No....bad investor, yes
Day trading is much harder now than it was 20 years ago because of the bulk of the trading is done by the big banks and securities firms with their algorithmic trading and the end of fractional pricing on the quotes on the US exchanges. Most people are better off to buy and hold stocks long term.
seems more risky than intraday trading where you only put up a very small portion of your holdings for positions only held for a matter of seconds or minutes
cgasucks
I was day trading back then.
Penny stocks and regular stocks were crazy and most stocks were under $5.
Was easy to make money.
Easy for greedy people to lose it.
or learn to write your own trading algorithms......
@@kolinboorom6868 yeah no that's not going to make you money
the reason why day trading is straight up gambling now a days (for the small guys) is because all of the infrastructures in place for the big banks that allow them to have the best algorithms and connections imaginable. They will intercept the packets that are being sent from a brokerage account and they will know that you are selling before the market knows, so they can front run your trades. This is a known fact. You cannot beat them in the long term.
Dave the type of guy to ask you what your household income is after you open up to him about something different.
It's called greed. We all can fall into that trap if we're not careful. Especially, in a world where people constantly pretend to have the next BIG thing or the "most amazing sure trade", etc.