Comments by "JP 72" (@739jep) on "The Truth About Day Trading" video.

  1. You’re assuming people get no fulfilment or value from their jobs. Also passive investors outperform day traders over all meaningful time frames. If passive investors have to wait 20-30 years for their returns then traders need to wait even longer - or more likely , never receive it at all.
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  2.  @royjohnson9043  maybe , but I suspect its not working itself that’s the problem , just the specific job they’re in. Many people feel that way as well and then when they stop working find that they miss it. Regardless day trading clearly isn’t the solution for most people. Im sure if you surveyed day traders you’d find that most don’t make a living from it. In fact the video here points out studies that discovered that very thing.
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  3.  @royjohnson9043  the lottery also works for some especially if they don’t want to wait 30 years to make their money. But most people with that objective will be worse off in the attempt. Taking the time to learn how to day trade (which is what I assume you meant by being serious?) just increases costs and is about as useful as taking the time to learn how to pick lottery numbers.
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  4.  @royjohnson9043  you don’t know anything about me. But if you don’t want to continue the discussion then that’s fine.
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  5. Day trading is a zero sum game though - before considering costs like transaction costs and tax. So overall a net loss. Gambling at a casino isn’t a zero sum game because there is an edge favouring the house.
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  6. False equivalence fallacy
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  7. Yes but you’re forgetting about skewness. There is a very very very small amount of traders that earn alpha long term, and a smaller sample still of traders who earn alpha that isn’t explained by luck. The skewness in trading is far greater than sports - and there is little benefit of engaging in the activity if you don’t succeed - which isn’t true for failing to make the Olympics. Also in sports you’re not competing against very high powered algorithms. And I guess while we’re talking about money. Your expected returns would certainly be more reliable if you didn’t attempt to make the Olympics and instead got a good education and a good job.
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  8. I see a bunch of people who can read academic papers and understand data.
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  9. This still remains the best comment I’ve ever seen on a finance video
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  10. Probably ego.
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  11. No he’s reviewing the literature that demonstrates that most people are not capable of doing it right.
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  12. Check out his video ‘commission free day trading’
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  13.  @Richierich833 feel free to come back and listen to good evidence based advice once you trade away all your money.
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  14. This is just another way of saying ‘but this time it’s different’
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  15. Even above average traders seem to trade to their own detriment
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