It's taking him forever to get to the gd point. Will he ever?

😂🤣😭!

His answer is that its better to pay off your home and then get another real estate. i would be 100 be the time i pay it off

​​@@brikeps5465sounds like you didn't bother learning how to read either. If you don't have a good job, that should be your first priority. Not worrying about real estate that you cannot afford.

Because he's looking for someone to talk him out of it.

Let's salute their courge

😂

And the person that wins loses it all the next day.

@@amireallythatgrumpy6508 I fee attacked 🥲

Not true at all. Retail traders are tiny fish in a vast ocean. The successful ones ride the wake of the big fish (market makers).

​@@miclam00😂😂😂

Hes telling you facts and you laugh while knowing nothing.

Except crypto is sitting at all time highs 🤣🤣🤣🤣

@@Rabid_Turtle That's what I came here to say. He missed on that one.

​@@Rabid_Turtlewe will talk to you again when crypto worthless. 😂🤣😂🤣

@@jamisojo You and Dave have been saying this for 10 years. When does it become “worthless”? 🤣🤣🤣🤣

Good call

Good. I went to the casino and made $150 at the roulette table.

Good run

Yes but how much did you lose. Don’t just tell us how much you made but also include how much you lose.

@@front331 thats not a big thing lol the bad part would be to think you can do it again

He must have done poorly in college then, the EMH should be ingrained in any decent economics students' mind and the clear implication of it is you can't profitably trade this way (compared to what you'd make in a passive index fund)

You’re taking an anecdotal situation and giving advice like you know what you’re talking about. SMH Lisa

@@RandalC-hy5ke Oh get over yourself

@@RandalC-hy5keshe is right nonetheless, most people aren’t prepared for the risks when it comes to day trading and how it can be just as addicting as gambling. The statistics are too high in risks. If it’s in your lane and you study it for a living then maybe the risk is worth it but if you’re going to jump in for quick cash without analyzing all the risks which many people do, gotta blame yourself, not the method, not the time, not the other people trading on the same platform, ect. Get rich quick schemes never end well for majority of society.

Was it a really nice shirt?

@@FreedomFighter485 for the next 10 years !!!!!!!!!! ???????????????? come on!!!!

@@FreedomFighter485 at least tramway is better than crashing assuming your goal is to saving your money

funny how people think a degree is gonna help people with day trading🤦🤦🤦🤦🤦🤦

Degrees have nothing to do with day trading. Literally meaninglessness. I see people that super analyze things that take me a few seconds at thos point. If you day trade the same thing for so long there's only so many different oatterns you can see. I cajt stand to listen to "intelligent people" try to chicken bawk theyr way through trading with fancy terms and concepts. Thr markets move in only 2 different directions. The question is how much will it move and can catch a little of it. Im wrong 70% of the time and still profitable.

Dont even look at is as a hobby. at most its just something fun to do every so often. Its like drinking, dont make it a hobby but having some every so often isnt horrible.

Why DAY trading and not WEEKLY trading? Why are people so obsessed with fast money???????

He should do that but he should do paper trading before even doing that.

You should find a real hobby instead of day trading for a hobby. Gambling is also a stupid hobby.

I prefer the roulette wheel at my casino.

Day trading is almost a completely different animal than investing though. Peter Lynch actually gained a lot of money from Day Trading, he does/did both. Buffett and Munger said they didn't understand day trading so they don't do it.

​@@Spladoinkalthey do said invest in what you know your "circle of competence."

@@austintomkewitz3981 yeah that's what I mean.

@@Spladoinkal Yeah theyre completely different things. If someone compares the two it probably means they dont understand it.

Always go over…sucks watching a game rooting for nobody to score lol

🎯🎯

Good one

well nobody is stopping except the consequences.

That number might jump around alot.

@@michaelcarter266 a lot

I definitely lost 78% of my investment day trading

78% of statistics are made up on the spot.

I thought it was 97% don't make anything, and 78% lose money.

There is a lot of machines

Why day trading and not weekly trading or monthly trading?

@@Essays4College I have always wanted that. Weekly, biweekly and monthly can help having more data which allows you to make better bets. I think day trading is just a general term. Some of the most successful traders might as well be called weekly traders.

I doubt it. What was your total income from trading during 2022 and 2023?

Strarted with 1400 finshed with 7k after taxes 5200

Well she remembers there was a man that called

Sure she does. I remember calls I got years ago.

@@jimroscovius Sure you do?

Dave doesn't make money when he recommends low cost index funds. Wise up, people!

Many mutual funds are index funds genius.

@@rnt45t1 he recommends actively managed funds, just because he isn’t paid by fund managers doesn’t mean he isn’t wrong.

Dave himself said in a interview after he had so much money saved up. He just put it in a s&p 500 like VOO. Because it better then a CD. Now that's a index fund. He hates individual stocks.

@@MusicPhrase I think the initial commentator meant to invest in low fee index funds rather than some of the ramsey "partners" who put money in mutual funds, only to charge a high fee to "manage it"

Most brokers don’t allow shorting small caps

Why day trading and not weekly trading or monthly trading?

Trading gaps on the daily

@@michael589m lmao yup that’s the easiest strategy by far. Made about 470% in the last 5 months doing that

@@DLGNT I’ve been using inverse etfs on a cash account or use them as a hedge on retirement accounts. You can target gaps that are pretty far out and you can hold the position essentially forever without margin. Unlimited time and a 90% chance of gap fill I don’t have a reason to trade anything else anymore.

Berkshire Hathaway is not an individual stock

Is like saying the s&p is an individual stocm

You afford 240k a share?

No I buy class B

This person gets it

Sounds super lame. Might as well get a job on Wall Street.

LOOSE??? C'mon, man!

@@todd2456you are paying intention that is good. Correction has been made. 👍

Speculating is just putting your money into something that you do not understand in the hope that it will return money to you. Investing involves analysis and testing that analysis against proven factors.

@@bighands69 And you think a broker does any type of analysis??? I don't think so.

yup. Dave also isn't a professional fisherman

Well that may be but he is right about this

Correct so do the opposite of the masses and you to can succeed

I was thinking the same thing. It is 89% here in India since the pandemic. In fact, studies in the West have constantly generated a number upwards of 90%. If it is indeed 78%, then I would take it up myself.

It's the same as gambling in Vegas

yeah i like that better that makes me a 3% er!!!!!!

But, he didn't google it. Like you may have. He was speaking from the dome. Facts tend to get a bit jumbled in our memories.

Saying don’t use cc is like saying don’t use coupons or buy anything on a discount. It won’t make u rich but everyone likes to save a few bucks when they can

Using CC is inherently irresponsible.

@@amireallythatgrumpy6508 lol

@@amireallythatgrumpy6508 could you explain to me how you came to that conclusion?

Obviously. He says it as an exaggeration to drive home the point he’s actually making not because he actually thinks somebody would say that. The point of that snippet is simply that people focus so much on the little stuff like airline miles and give it so much of their energy when it’s not ever going to be the difference of building wealth or not. So he makes the exaggeration to say people should stop getting so caught up on things like that that are never how somebody obtained their wealth when the focus should be on the positive everyday habits people had that actually did result in their wealth. For Dave he sees a CC as a tool that causes harm much more often than not for a lot of people and so for him keeping that danger around to chase the rewards isn’t a good trade off. If you’re Dave you look at it and say why take on a risk that harms people all the time to gain something that is never the driving factor to becoming wealthy and why is that taking your focus? I use a CC and have for 8 years and have never paid interest on it and use the 5-600 in cash back to pay for Xmas gifts for family members every year. It’s just what I’m used to by now but I’m also debt free, invest 15% and focus on the habits that build wealth. The rewards of the card mean zero in my overall net worth and aren’t my focus it’s just the way I’ve paid for things for long enough now handling it akin to a debit card (checking and paying the posted balance daily) that it’s just my normal. And I didn’t transition to that for rewards it happened after I began working in banking right after s huge data breach and was paranoid about my checking account being drained. But the rewards of the card get zero to my financial focus because in the grand scale they mean nothing to me ever becoming wealthy so why would they ever get mh focus?

After that I’ll pay off my mortgage with the penny pusher machine.

It works for SOME in all times. It never works for EVERYONE.

Anyone who advises against day trading is qualified.

Lol. What are Dave's finance credentials?

Thank you. This guy is annoying

He shore does. He won't shut up.

This is stupid. My buddy says he will never invest cause is is not ok with losing anything. What you should do is invest 15% of your income in retirement and have that money invested in index funds.

I don’t know…it’s risky. And risk is the main ingredient for addictions.

@@kenyattaknox5163 it’s no different than people that vacation at Vegas casinos or bet on horses or sports. 100’s of thousand of people do it everyday. Just need to understand it’s pure gambling.

I recommend yoga instead. Better long-term investment of a hobby. 😉

To me no amount of money is worth losing so I'm staying away from that

Or find a hobby that doesn't suck.

Hey

Sounds like a very lame hobby.

Being successful in daytrading is 100% luck.

The difference is, you can find an edge day trading. If you do that in a casino they kick you out.

Neither is marriage. But people lose half or more of their money every day.

Day trading is a gamble. It is impossible to have the knowledge required to do it properly.

@@amireallythatgrumpy6508 but nearly 1/4 make money doing it. So you are objectionably wrong

@@lukerider479 Oh and by the way, if only 1/4 are making any money from it, by definition that would make it "a gamble" so I'm objectively RIGHT.

@@lukerider479 Also: "objectionably". LOL.

With inflation sounds about correct

Nobody should be anywhere near a big city

🙄🙄🙄. What a dumb joke.

And about 0.00001% of day traders are successful...

@@amireallythatgrumpy6508 like anything in life you have to put in the work to develop the skill. I thought this form of common sense was implied. If you open up a trading account and don’t put in hours of time to learn it you deserve to lose your money. Because sharks like me take your money from you.

@@theenlightenedsavage1436 yeah exactly, the actual number is about 8- to 90 percent of traders lose money. Alot of people dont take into account though that most of the people that statistic takes in opened an account for a month or a few months and had no idea what they were doing and then just proceeded to throw money at a screen hoping theyd make something. Not saying day tradings easy but like anything you gotta be patient and develop and grow that skill slowly.

Sounds terrible.

@@jamisojo look for it!

Statistically, anyone above millionaire doesn't really exist. They are so rare. Please share all of the great advice to become worth tens and hundreds of millions? Should I focus on inventing Windows or Amazon or Facebook? What is your advice, since Dave is so "middle class"?