How I lost $350K daytrading stocks and what I learned from it.
ฝัง
- เผยแพร่เมื่อ 5 พ.ค. 2019
- Ex-Google Tech Lead loses $350,000 in the stock market and lives to tell the tale. For fun daily problems on science and engineering check out brilliant.org/techlead (the first 200 get 20% off premium). Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000) bit.ly/techleadstock
If you think you're so smart, then go play the stock markets and prove that you really are smarter. The experience will take you down a notch - keep yourself in check. Let me know your thoughts in the comments below.
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Nice, the Techlead knows how to capitalize on the trends.
Great video TechLead. How about a video on the tax implication of day trading? There are no good videos out there on this topic which I think is a shame . As you know, day trading gets taxed at your ordinary tax rate. So for someone like yourself who is at the top tax bracket, it makes 0 sense to day trade. For instance, if you made 100k, you only get to keep about 50-60k after state and federal taxes But If you lost 100k, you eat the full lose with only a paltry 3k deduction and some loss carryforward for a few years. If you think about, it's a crappy game to pay because when you win, you essentially risk $1 to win 50-60 cents, but when you lose, it's $1 for $1. The risk reward makes absolutely no sense. THERE ARE NO VIDEOS OR ARTICLES THAT HIGHLIGHT THIS FACT. Can you imagine going to a casino where you get charged 40-50% on your winnings every time you cash out? No one would ever go to the casino unless they had a true gambling problem! If you can illustrate this salient point, I think that video will kill it in terms of viewership because it will be very unique and useful for anyone considering day trading as a side hustle or full time job.
if you shorted on march 1, you would of make millions.
@@alpark3024 when you short you can only get back 100 percent of what you put in, and that's if the equity goes to exact zero lol. You could have done puts on the market to make millions though
got any tips on small cap tech or software companys worth holding? thanks
I lost 100k and my wife divorced me... so a gain after all.
Scores! Happened to my brother...Dad said that is the best 200lbs you will ever lose roflmao
soving Your dad is a boss for that comment! You are lucky!
@@stanislavjirak2894 still married?
@@quepadrequemadreeducadores7237 Nope, I'm single.
@@stanislavjirak2894 so... still a lot to gain and loose...
Well this makes a nice change from the usual "I made $300k day-trading" YT spam.
It's legit gambling
@@4m4n40 Some of it for sure, but there is also" knowledge of the subject" component you shouldn't miss, cuz there are legit people who earn money by doing it.
But I guess not the "normal people". These who have a lot of connections and information.
@@nobodyz2700 you're better off learning how to look for value in a company and going long, or if you're comfortable with risk, exercising options with a longer time span.
@@samuelson4244 Yeah. Agree.
4m4n it’s not gambling, it’s some luck but if u get good with indicators u can average a little above negative
I started investing in the stock market because of dividends. What matters, in my opinion, is that if you invest and earn more money in addition to dividends, you will be able to live off of dividends without selling. It implies that you can pass that on to your children, giving them a head start in life. I've invested over $600k in dividend stocks over the years; I continue to buy more today and will continue to do so until the price lowers even further.
It's always inspiring to hear from a veteran investor who has weathered the storm and come out on top. When your portfolio turns from green to red, it might be unsettling, but if you have invested in great companies, you should just keep adding to them and stick with your plan.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
Julia Ann Finnicum”is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
can we have more infos?
"80% of day traders end up in the negative" -Dave Ramsey
True, and the rest of 20% who are positive actually can’t beat index fund.
Thats main reason for that statistic is that 80% of day traders end up quitting after one year.
More like 90%, 9% make so-so profit - sometimes win sometimes lose, 1% take all the profits
@@tonyvu2011 that 1% is big banks mostly big banks take your money, trading daily, they got more money to manipulate to make the moves, fed provides money to them, so basically government taking your money.
That is the whole problem!
Loosing money is a learn experience... tho 80-90% are turning down trading because the didn't learn from it and saw there losses as a sign to quit! WRONG!
At that moment the 100% are separating.
Most of them are using the easy way and exit town...
You are probably one of the most successful unsuccessful successful person on youtube
Developer Abz hahahaga
while (alive) {
be_successfull():
suffer_setback();
}
😂😂😂 that was good. His minor failures are peoples lives. Love this guy
@@math_person Error: you're missing a semicolon
So he's successful at being a success unsuccessfully?
"Show me the chart and I'll tell you the news."
Trading by news is the rookiest mistake ever.
Respect for the honesty.
Its true..
By the rumor sell the news
You're probably broke stfu
trade the rumour, sell the news
@@Josh-nc6nt no need for that
Day-trading is the hardest easy money you'll never make.
Yeah people need to learn day trading isnt a thing noone makes money in there
@@eligijusan9132 i wonder where my millions came from then
@@eligijusan9132 most people don’t have the discipline or the understanding to make money day trading
That doesn’t mean that nobody can make money.
My accuracy on the year for day trades is around 72 percent so far.
@@thegreatbenis225 from gta 5
@@unggoytrader yup its an awesome way to create wealth but takes skill to master
Actually dude, "I just lost $350k in the stock market" is GREAT dinner conversation. You've got the wrong friends.
I'm willing to help with my ANT trading strategies
"And it was actually more than that" lool
@@kevintruong8171 yup hope i can help you too
i lost 3k day trading and feel devestated
@@nehankaranch2149 i can help you brad
It takes guts to admit this. Techlead, you've earned my respect.
subscribe to /r/wallstreetbets
@@dtmt502 Always representing the best subreddit. It literally can't go tits up.
-- A fellow WSBer
More money is lost trying to fix poverty.
Totally agree!
Even in his failures he's succeeding.
It seems you're referring to a potential financial loss and its impact on personal relationships. To address the potential loss of funds and strained relationships, it's crucial to prioritize communication, transparency, and sound financial decisions. Maintaining open discussions about financial goals, risk tolerance, and investment strategies can help prevent such situations from arising. Additionally, seeking professional financial advice and planning ahead can contribute to a more secure financial future and healthier relationships.
Numerous intriguing stocks span various industries that could pique your interest. Remember, you're not obliged to act on every prediction. It might be beneficial to collaborate with a financial advisor who can guide you in pinpointing optimal moments for buying and selling the shares or ETFs you're considering.
I concur. That's precisely why I opt for my daily investment choices to be influenced by an advisor. Their comprehensive skill set revolves around simultaneously engaging in both long and short strategies, leveraging risk for its potential upside while also mitigating risk as a safeguard against market downturns. When combined with their exclusive insights and analysis, it's highly unlikely not to achieve superior performance. I've been working with my advisor for more than two years and have accrued over $2.8 million in gains.
I initially enrolled in several trading courses, but they didn't provide the results I was seeking. Upon receiving recommendations to engage a reputable financial advisor, I researched and connected with my coach through email communication. This avenue allowed me to discuss my financial goals and chart a more effective investment strategy.
@@rebecca_burns14 While I generally avoid providing explicit recommendations due to individual differences, freelance wealth managers could be worth considering. In my personal experience, I've been working with "Camille Alicia Garcia" for around two years and have found her expertise impressive. If she fits your criteria, I confidently recommend her services.
@@hunter-bourke21 After conducting an online search of her name, her website quickly surfaced, piquing my curiosity. The initial impression is positive and I intend to arrange a call with her. I'll make sure to provide you with updates on how it goes. Thank you.
You know it's real stuff when he’s living in a wooden shack
I didn’t even notice that 🧐
Naw hes hiding it from his wife she dont know yet so hes in the shed shooting the video
@@eastsidecryptoguy8986 😭
💀💀🤣
As a millionaire
Moral of the story: no matter how convinced you are of being right....always have tight stops.
Yep and dont try to time the market. if it goes down it goes down.
The moral of the story is:
1. Insist on a margin of safety.
2. Insist on trading companies with a MOAT.
3. Learn how to determine intrinsic value first (regardless of your trading time horizon).
4. If you want to be an active trader stick with Iron Condors and Cash Secured Put options until these companies are priced appropriately; buy them cheap and then trade covered calls with reduced risk back to the other side of the pendulum's swing.
@@richardschmeichel3218 with today's inflation. It's a quite difficult to find a good company with a solid moat at a decent margin of safety. But if you do find it cudos to you, your buying a solid business at a lower price than its intrinsic value estimate.
BTW 2% stops are far too tight. Maybe 7% would work. You also need a way to get back in, usually at a higher price...
I think he was just making excuses. Stops don't apply at all here since he said that he thought it was going to go up the whole time it slowly went down. He could have proactively gotten out any day.
Is that why you are sitting in a wooden shed now ?
😆
it's quite a cozy little place isn't it? I have a bit of insulation in the walls too.
From tent to wooden shed. Actually he could achieve it as standard warehouse worker at Amazon.
Safe space...
Lol
Respect the Tech Lead because he is honest with his viewers!
I respect the Tech Lead because he is the Tech Lead.
Don’t just respect, OBEY! B-)
@Marcello Bergonzoli BULLSHIT.
This comment did not age well.
Whenever I lose money I watch this and feel a little better
Did btc take you here?
@Timo Klein of course, I'm a bitcoin believer. BTC FOREVEER
This hits hard, just like my stop losses
Sad dude, that's a sick mind to let relative pain decide how you feel.
Let your own thinking decide the pain and learnings,.
This is how idiots always look for a yard stick to measure their own decisions.
You are best a follower, a person who can walk on road made by others.. A wanna be, someone who is a step behind.
In other words, avoid stocks
LMAAAO
Didn't lose all my savings, bit started my life in debt and slept in a construction site on a cardboard box and blanket, stole food and overall didn't have a great start to life, so i feel you man. Keep doing what you do and you will pull through it eventually man.
My investment strategy: Buy high, Sell low.
You, me and billions of others.
Me..Bought bitcoin at 20k,,sold at 6 k
Ahh yes the good old wish in one hand shit in the other & see which fills up faster!
Sounds easy, challenge comes when you want to identify the "high" and the "low". How do you identify?
If I make this my legit strategy I'll probably end up making money, knowing my luck
You didn't respect the StockLead. that's what happened.
LOL!
LOL!
LOL!
LOLOL!
Lol that was funny.
I lost $500 and cry at night thinking how many burgers pizzas and cake's I could have had 😔😔
Why did you lose the money?
I just lost $5,000 in the stock market last month. But I am still in the Game!
@@The_AndiCat damm
@@jimzegarra861 you want to keep losing more?
I lost almost 9.5k in pokies and i was thinking the same..gambling is gambling
You know things have gotten serious when 'as a millionaire' postfix is absent from the title
Haha😂
The fact that you had $350K to invest is impressive.
Sblinger leverage just means he was trading on margin? if he sold with -$350k losses... those losses caused by leveraged capital are still real losses at $350k
Sblinger ouch....
not really, hes chinese
@@jamess9808 Well, i wish i was part Chinese then :-)
LMAO
My investment strategy made me 350k$ more than you. It's brilliant really, genius now I think on it. I watched some youtube videos and realised I was too stupid to trade. Made more than most traders probably.
So you made $0?
@@Crimulous That's the joke
I think that the investment strategy is not to trade....
Indeed you have made more than most traders. (I believe the statistics are 90% of retail traders lose 90% of their investment in 3 months)
Boby Gandhi and that’s how u don’t retire. U should invest just not day trade
90/90/90 rule: 90% of sole traders lost 90% of their capital in the first 90 days of trading.
I heard a guy joke once, "there's a lot of money in the stock market; I left it in there".
Do you know you can start your Bitcoin investment trade with $200 USD and also recover from your previous Lost on trading ask me how on WhatsApp +17324360394
👍😂
I left them there, too!
lol..im stealing this
@@cryptowilliams3771 You can start with less than $1 technically. It's just not worth it because of the mining fee. I'm not gonna fall for your binary options method though. That's literally gambling. I'd rather play roulette because that has better odds than most binary options. I'd rather just buy Bitcoins instead of gambling on the price.
"It's just not good dinner conversation material" lol
Classic TechLead moment
It probably is. Everybody would say “sorry to hear that” but laugh inside.
The most expensive school is the stock market.
Stock market: I'm the most expensive school Eva!
Bitcoin: HOLD MA BEER
I think college is the most expensive school
College is way more expensive
Yup
@@lucavalentine2535 really? Did you spend 300k on a years learning like this guy? Lol
How I lost 350k... As a millionaire 😏
Wow
Such a huge lost
Write to my manager for assistant
+1.. 6.. 5.. 0.. 3.. 0.. 0.. 8.. 1.. 2.. 4
Its like one of us saying i lost 5k lol. Still really sucks for him though.
@@jacksonwoods723 350k is 35% of a million... I think it was a lot to him to loose
*Mr High Gizmo, I would like to sincerely thank you from the BOTTOM of my heart! So many from tough harsh living conditions that suffer and you helping and giving them something that they desperately need just to survive. I thank God for wonderful people like you that are making the differences that truly matter most! God bless you High Gizmo!!! Love from Greenville NC*
Today I am here after losing 175k as well. this is the hardest lesson i have learned from this. Dont try to get quick money in life. Work hard for it.
Kevin Seok if you don’t mind me asking, what kind of companies were you investing in?
Free World started off with stocks under $1 in marijuana, fell off to 1/3, with crashing economy bought tvix, made a bit, but went into a really bad stock pump and dump and lost 85% within 10 minutes. It literally takes one really terrible play to lose it all. I have 30k left but I decided to cash out and never do anything but blue chip
Kevin Seok put all your money into VTIQ thank me later I just put 50k into that
Erick great rise today but like i said no more of this :)
I lost 5k on SQQQ not long ago. 3X of fun but damn hit my stop loss and exited no more gambling for me.
"Money can be gained and money can be lost. Don't bet on being able to keep that money forever. -- TechLead"
-- TechLead
by TechLead from the TechLead
@@guillaumebrizolier8777 starring the techlead
Warren Buffet has join the chat
@@tdreamgmail WB plays the long game, not day trades. rule 1 dont lose money rule 2 obey rule 1
I heard a genius said this
Who else came here because they just lost a stack of money?! ✨☝️🥲💔
Me, I lost 10K, and trying to make sense of reality
@She belongs to the skreets not good
got tilt and lost 4k
"I kept believing that maybe it would go up." Let that sink in deeply.
Have stop losses and stick to them no matter what
You have to understand how brainwashed people were back in 2010 , people were buying gold/commodity at ridiculous high prices because they thought the American Dollar would collapse,
My name is makes sense
Should he have shorted?
@@andresvalencia3977 no he should have bought put options spreads. Shorting is for amateurs😘😘😷🤶❤
TechLead - "How I lost $350K daytrading stocks and what I learned from it."
Other persons - "How I am a successful trader and how you can be to."
Respect
LOL
Samuel Gonçalves if you’re really successful in trading, you won’t need or want to teach others.
F
Finally someone that share all they history and not only the good part of it
ya...so many of these financial "experts" only show their wins and hide their losses
That's not day trading, it seem you were swing trading.
He didn't close his positions at night right
If you can't make money with $1000 your can't make money with $350,000
Ikr
Big facts
Damn that’s good
this is so true
True but no true at the same time
You have 350 more chances with 350,000$ than 1000$ to learn and grow lol
At least you didn‘t buy Bitcoin at 20K
At least he did not buy pizza for 10,000 bitcoins
@@Sasoon2006 people think the guy bought pizza for 10,000 btc has jumped bridge already, no, the act is historical because it gives btc really money value for the first time, the guy is proud of doing it. And i'm sure he's got another 100,000 btc he did not trade for pizza with
@@jorjiang1 Yeah if you've adopted btc that early you went through a lot more effort than people now to obtain it. That guy is likely sitting rich somewhere without a care in the world.
That is unless he sold waaaay too early.
But a smart investor would always hold some in reserve.
I bought at 20 k..
I bought in at $4 a coin. The investors expected it to be made illegal and bottom out any day. It went to $240 in a short time and dropped to $160 in a day. I paniced and sold my 200 coins.
“How I lost $350,000 daytrading, and why I live in a shed now” could be a title for a book
I needed that laugh!
she shed
@@nickfromyuma1691 underrated comment
I'm willing to help with my ANT trading
"He doesn't want a lambo because he already lost one"
Lamborghini nice but porsche 911 turbo s will put it to shame
@@markwhite6982 cars aren't all just speed
@@colbyharley9975 you are right but in my opinion the 911 turbo has it all! And yes I have drivin alot of cars including lambos and porsche!
you didn't lose any money, you donated $350k to new and upcoming students helping promote their educative process
Rip thats more than my networth
Great interview at CS Dojo, your honesty was very refreshing, wish you the best.
Hahahah
Joma Joma Joma Joma Joma Joma Joma Joma
Only if you didn't sell your cryptocurrency
I'm going to think about myself in terms of how many Joma's I'm worth.
I made $80,000 in a couple of hours last week and today I gave it back with one mistake daytrading. I am devastated 😩
Thank you for posting the most “human” video. I lost $250K in the stock market in 2021 and I’m still trying to stomach that loss
Don't enter the market with such cash, Just go from £100 to £10,000 rather then depositing so much cash which unless true success is given to you, You will most likely lose it. Success has to be given.
I lost 2700$ in a day xD, its so risky man
@@sirijanthakur or £10 to £10000
Which sector/s have you bought in? Have you already sold? I have "lost" about 60 % on one stock. But I believe in the company so I bough little more shares, not too many because it´s important not to put all the eggs in the same basket. Maybe it takes 5 or more years before I will get the money back or earn on it, but I´m not worry anymore. So always buy stocks/papers you also believe in in the longer term. Don´t sell if you don´t have to (if it´s not crypto, bacause the values there are not so based on fundamentals).
@@toromontana8290 why shouldn't i just buy ETFs? They sound pretty secure
This makes day-trading sound worse than it really is. The problem is first, it seems like he never had a system in place, but rather, he messed around with a bunch of random indicators and tools. The chart he even shows looks like a mess; the simpler your chart is, the better because it is easier to follow (at least for most the charts I observe).
Second, although it says day-trading, and correct me if I'm wrong, but it seems he was investing considering it looks like he held RJI for multiple months. No offence, but day-trading is suppose to only happen within a day and you're not supposed to hold longer than when the market is available. If you are holding overnight and for weeks, that is called swing-trading, which brings me to my next point: if you do swing trade, please set a stop loss at a resistance level because his strategy seemed to let his trades run.
I don't even want to get into how he decided to follow a random website (not sure how legitimate they are) before considering yahoo or CNBC for stock market news because even in investing, it is better off that you take advice with a grain of salt because, in reality, the market is an entity in itself and typically, those publishing the advice will have an agenda for themselves (presumably).
Lastly, stop-losses are imperative, but as he described, he got stop-hunted which is typically why it is always advised that you set stop losses either below your support/resistance level or at a certain percentage of your capital (typically 1% is what is advised).
I'm not sure how experienced he was in trading and where he is now, but the way he described his trading experience is obviously awful and I don't aim to put him down, but rather, to inform anyone who is interested in starting to trade. There is a large learning curve that takes years of practice just like any other craft. Now obviously it did not end up well for him, but it seems he ran into the trading practice guns blazing which well not end up well for anyone.
Point is, obviously not everyone will win in the market and the odds are mostly stacked against you, but depending on how willing you are to be persistent in the market, you can succeed, but it takes hours of studying and practice. Most importantly, do not go into the stock market guns blazing as he did.
@@shu9460 No problem; if you're looking for trading strategies I highly advise price action trading to simplify the trading process :) Lastly, I'm not sure how much this will mean to you but even if things aren't going your way, keep learning because trading is something that has no end and is a constant learning process. And as ironic as it sounds, if someone on the internet is telling you to be bullish or bearish, take it into consideration and not fact, it'll save you so much trouble.
THIS!
@Chinh Duc Exactly, even those who we consider as extremely successful have failed more than we can count with our fingers.
Great response. How would you recommend a single working parent learn to swing trade? The arena seems so full of hucksters that it's hard to know what is a legit resource. Would you recommend someone take a course or...?
@@photonsponge For myself, I learnt to swing trade by actually adapting day-trading strategies. By that, day-traders tend to use support/resistance levels with moving averages, and so, I applied their methods on a longer-time frame. It is also worth noting that there is much more consideration to take place considering you aren't getting in and out within minutes, but presumably weeks.
To educate myself, I learnt from places like investopedia and whatnot regarding trading strategies rather than advice, because in comparison to strategies, they aren't selling you a stock, but rather, actually informing you. Another way I learnt is from channels like Capital.Com, Trading 212, and Ricky Guiterrez because they show you their thought processing and trading ideas.
These I would say are the best resources, and one aspect I did take in when swing-trading which is not often mentioned is fundamental news because for myself, I feel it is much safer to not get into a trade when a report or something is going to be released considering it can go either way.
Overall, the best resources I would say are the ones who teach you strategies and show you their thought processing like some of the channels I recommended above. I would like to say that I am not a parent nor am I working full-time as I am a student so I do not carry the responsibilities that you do, so I have more time on my hands. Nevertheless, I guess the best way to teach yourself is to learn from places which offer strategies. I would like to point out that I think this is quite different from listening to places who tell you where a market is moving because they show you what led to that conclusion.
Sorry if the message seems all over the place, it's like 7 in the morning and I just answered based on what came to my head.
Glad you stop playing in the stock market. Otherwise, you might have to intro yourself as the "DebtLead".
Hi and welcome to coffee time with the debtlead. actually today it's just tap water.
TechLead LoL ur dry sense of humor is hilarious
@@TechLead u need to understand and correctly predict how the global macro-economy is trending to make profits as a small investor.
@@sushilover5367 Warren B. *always* says he can't predict markets; are you better than him?
@@fendermon so r u suggesting his success was based on luck? lol. no u moron. wb successfully predicted long term trend of certain companies in certain industries, and he was rewarded handsomely.
This actually sounds like a really good topic to talk about over dinner.
I love that you talked about stop-losses and managing risk. Every day trader eventually learns this lesson...some harder than others...
Lost 350k, wife left you and got fired from Facebook. TechLead not having the best 2019.
And still 4 months to screw up more
JomaTech joined the chat!
Adeel Syed u guys need to leave him alone lmaoooo
He lost the 350K in 2014 :-)
The female Caucasian rainbow flag employees were probably waiting to stick it to an asian male.
have you never heard of "stop loss" & "Trailing stop loss" ? how on god's green earth do you lose $50k a day? you're a mad man!!!!!!
He probably thought setting a stop loss would make him lose money when maybe it went down but it went back up afterwards
@@ikergarcia7794
That situation would be failing to make money, not losing money. Always protect profit, risk management and stop loss is life
Because he was one of those brainwashed Gold-Bug idiots who back in 2010 thought the American Dollar would collapse (meanwhile inflation was actually very low)
DIAMOND HANDS BABY
I have a feeling you have never heated of r/wallstreetbets
"I don't know if my efforts in stocks really had any impact... Maybe I was making money just because I was lucky sometimes" - couldn't relate more. Put a lot of hours into research and it went well at first and now not so much!
Awesome video, sounds like you were all over the place trying so many strategies.
Holding and hoping isn’t day trading
Dads Domain it's just a bad trading plan
Day trading is closing your position at the end of the day not leaving them for months?
@@_Anime_Shortz yes day trading is closing all your positions at EOD
A L thank you for that answer that means he really wasn’t day trading.
@@_Anime_Shortz he probably meant that he was a swing trader.
To be frank, this is not DAY trading. This is buy and hold (pray). Your tax return shows long term holds. That is not day trading, or swing trading one bit.
mad respect for saying yes bro. sometimes opportunities present themself and you gotta take them. i am kind of a *High Gizmo* on the internet fan, but this recovery was a great message. you both already won for participating!
The most instructive financial youtube clip you'll see.
.Trading without top skills is risky contact an expert directly for assistance. Reach out to an expert to help you recover lost funds and make more gain.
Available on (W,,,h,,,@,,t,,,$,...a..p...p)
+1.. (3.. 2.. 3..) 4.. 4.. 8.. 0.. 8.. 5.. 5-.
This guy first loses 350k day trading and then loses half of his net worth in divorce. Techlead definitely not having the best year.
@@timwuu5055 yep loses due to faulty laws
true, lessons of life.
and moves to live in some basement aparantly from this vid
Maybe the two are related...
Losses cause growth
2:55 You were not day trading. Day trading is when you buy and sell stocks on the SAME DAY. Looking at your tax return, you were holding stocks for years. You bought SGOL in 2010 on its peak and held it til 2014 on its way down. You were also increasing your losing position in 2011,2012. These are very bad trades.
Thanks Captain hindsight!
Thanks for the honesty. I also lost as much because when I was making money I thought I knew how to continue doing it and when the market changed conditions I lost it all thinking the market will bounce back the way I know. Biggest lesson to learn is that as an individual investor/trader you are never rich enough to influence the market.
Thank you. This helped. It’s been a rough week
“Diversification” *puts all of his money in commodities*
Mitsuko Megumi lol
👍🏻
Genius
Needed more gold! :P
350k was not all his money
"Time in the market is better than timing the market." It's corny but true.
Yup, the long term trend in the stock market is up. Don't be your own worst enemy..and you can do fine. Mutual funds and ETF's were built to avoid everything that happened here.
"Until the markets crash"?
They always crash and then rise again...
This is great stuff. You gotta have a plan and trade the plan. Risk management is EVERYTHING. Risk management + probability. Love the algo tip.
I got liquidate twice today incase you think futures trading is as easy as traders post about it. The risk involved is too high and some time SL won't work.
It's funny if you didn't set signals you might get liquidated before you even go and close the market lol that hurts.
Long term is the goal. The entire cypto market is going through a phase and it's time for many person to buy cheap but as expected some who bought bitcion at $60,000 will sell off now at loss for $39,000 and then rebuy when it's back to $65,000. Understand the market cycle Guys!!! That's what my advisor always say.
@@user-og3ll8wr3j who is your advisor? if you don't mind me asking i have met lots of professional claiming to what they are not.
The market does not care about your feelings. it can give you money or give you lasting pain. Trade like a soldier.
@@lindseycarey6163 Vanessa Clark that's her name.
Good things are:-
1. You had 3.5 amount to invest
2. You are still Alive
3. You are full of Courage to tell others
mahi mahi maaahi
I lost €200K in 2008-2009, but at the annual salary of €20K... From the top to the negative because of leverageing!!
Ildar S greed
Omg , how?
Thanks for sharing this. That was very insightful.
love this honest reflection :)
Fundamental problem: wild overconfidence. Correct route would have been: start by funding account with, say $15,000, and give it six months and see how it goes.
what about paper trading
Do papertrading first. Trade small amounts of real money in robinhood. Learn the ins and outs for 6 months, it could take way longer.. and the u might be successful but if u think going big with no exp will make u rich...
@@quiksilver87 Paper trading is the correct route.
The trick to day trading, or trading in general is this: Nobody knows where the stock market will move or what will cause it to move. Nobody on wallstreet knows, no youtuber knows, no finance expert or economist knows. Once you understand that, you can begin your journey on being profitable.
Matt A absolutely correct
Well said!
So how can you reliably gain money like some people do?
@@Joffrerap That is a very good question! When you figure this little trick out, you can gain a lot of money from the market.
@@Joffrerap The key for constintent profits is actually pretty simple but most of the people won't do it because it actually doesn't pay you much at the beginning, requires a lot of work and also a fair amount of understanding for the market that you're trading.
I will give a basic example that many people might have heard of. Let's say that we play a game where I toss a coin. If it lands on tales I give you 1.5$ but if it lands on heads you give me 1$. Would you take the bet? Well....if all you had was 1$ then you shouldn't play the game! But if you had 100$ then you should definitely take the bet 100 times and there is 99.9999% chance that you're going to profit from that. The law of large numbers apply also to the stock market....well in some cases!
For example I will talk about forex because that's where I'm comfortable in. When you risk 1% of your capital to make 2% back and you keep doing it consistently, with the right strategy (basic understanding of patterns) you will average a 7.5% profit a month. Some people even have a 20% profit per month. But then again, they risk a bit more.
If you want to be a TRADER (not an INVESTOR), then you have to be EMOTIONLESS and PATIENT! 7.5% a month is 75$ if all you have in your account is 1.000$. But remember that it compounds every month if you reinvest the money in. And it can work mirracles in the long run. Suddenly, people don't wanna hear that. They want to hear that by trading in the stock market they will become rich tomorrow!
Nevertheless, this guy didn't follow the principles of NO MORE RISK THAN 1-3% OF YOUR CAPITAL PER TRADE. He lost 50k a day, which means he risked a large percentage of his capital. He traded also in the commodities market where I know not much about. He will make the money back though, he's a millionaire.
You can become anyone you want to be by having a plan and by sticking to it. You have to be patient as well! I can suggest you some books to read if you want.
I really appreciate how giving of a person you are. For heartlessly contributing towards the market. You made an impact.
You were not daytrading. You were bagholding losing swing trades.
The fact he doesnt understand this but talks like hes so smart (arrogance) explain why he got rekt and would again
Yeah hes giving the view like every human is losing to all the bank bots while in reality its the oposite he just doesn't know what hes doing. Reading the news hahaha.
He is day trading. Like many of us we get caught w a drop and sometime we hold thinking it will recover
Exactly, hes so arrogant
Can i ask? If he knows technical analysis why does he didnt know the importance of stop loss? He explained poorly on stop loss myyy goodddness cant believe he is so dumb and at the same time pretends to be smart
Thanks for sharing. I'm also an investor that lost a good sum in OCT 2007, learnt my lessons, bought the dip March 2009 and held, never sold. Came out on top. Now i'm a cryto buy and holder and I've done very well---buying the dip and sitting! its NOT the trade that makes all the money, IT'S THE SITTING!!
You’re trading against the same bot that published the news.
Spot on
And people and hedgefunds who have been doing this for years and have a mental network of many different tactics and routines. Yeah, no shit you're going to get creamed playing Chess against someone who's been doing it for years.
Yes, I'm a professional trader. I'm one of the few, apparently (it's not professional if you're not making a living from it). But I know for a fact it is possible to turn this into a business. Most people just don't have the balls or brains for it. They can't control their emotions. They can't handle years of losses. They can't stick with their vision when every single piece of shit peasant in their life tells them they can't make it, that they're a degenerate gambler, etc. (As if I'd ever listen to the poor on how to become rich.)
But to me, this was college. This was my way to attain freedom. I knew it could take years to get good. But I knew the alternative was to be a slave for the rest of my life. I would have killed myself before giving up.
Btw, I call people who try to predict reactions to earnings and news, "holy grail seekers". You all get killed in the end. I go after consistent, frequent wins, not big ones. Pigs get slaughtered. Pigeons fly free. Peck, don't scarf.
manictiger glad you posted these. I was just going to post a similar response. I’m also trading full time. 🤙
@@manictiger you live in the streets lol
@Xx BigBoss xX
Many grand a day, every day (yes, well in excess of a million a year). Apparently, what I do is called "scalping", not day trading.
Anyway, I play really violent stocks very frequently. It's quite a little game I play, but I'd have it no other way. Fucking love this job. The crazier I am, the more I make. There was a time I thought I'd never make more than 20 bucks an hour, because, in my words, I was "unemployable"-- arrogant, psycho, smart, bad at following commands-- perfect CEO material!
Thank you for your honesty! Well actually honesty does seem to pay off; - you're now at close to a million subscribers! ;) ;) ;)
Try to beat the S&P for a few years , backtest, record trades, then maybe start swing trading with money you can lose.
Starting by day trading is like trying to beat a pro tennis player when you never played.
pretty true, from what i noticed is that you gotta lose everything you put in to build the lessons needed to profit consistently. As of this month I am up 123% on my port with the market crashing.
@@thegreatbenis225 So I've heard multiple times that most investors make more money during crashes then during uptrends. Interesting ...
@@arthurtapper1092 it is true. Opportunties are built during crashes you just need a little experience to profit off them. you need to understand that saying is meant for after the crash and the bull market starts
@@thegreatbenis225 you gained 123% in one month? That's insane! Do you daytrade?
@@Zoazaaa I day traded high volitile stocks. that's how I did that.
I did the same, thank you for sharing🤔I don't think my wood shed I ended up in was as nice as yours😉
You’ve been through some tough times! Props for hanging in there and staying positive
Lost 11k a few days ago, and only managed to get 3.5k back from day traiding. If i could i would kick myself in the face but anyway lesson learned
Ywah day trading you will only lose never come profitable
@@eligijusan9132 ehh I've managed to profit 10k since than, but you have to be very careful in what you invest
@@sLaYser100 okey give me your ig show me the withdrawals
I love this casual background :))
You forgot to add "as a millionaire" in the title
*Multi-, multi-millionaire
i mean isn't that obvious? how else could you lose 350k if you're 'poor' ?
@@Sephirothfrank imagine losing a leveraged 350k.
@@Sephirothfrank margins?
*as an ex-millionaire Tech Lead
"over a long period of time.."
Wait.. I thought we were talking about day trading?
Day trading and losing most days over a looooooong time.
Wow, what an incredibly insightful video! Thanks heaps for sharing your story, really appreciate it :)!
Confirmation bias - reading what you want to hear. Life lesson. Better learned now than later. You’re young enough to absorb the loss.
In my experience the toughest part about daytrading is leaving the emotions out the door especially the mentality of getting rich quick and not to get tilted to the point where you're over trading
Very much so, eliminating emotions win or lose is hard to overcome.
i don't get the emotional part... I've never felt scared of losing an opportunity and I don't put much money into low liquidity trade. the most emotional I've felt was when I tried binary option, that was horrible and impossible to win
I can buy that
You only lose if you sell. I have a similar story with AAPL stock. I sold after a 45% downturn over a 4 month period, and lost the rest in day trading. If I had just done nothing, and still owned the AAPL shares today, I'd be worth roughly $1.5M. Selling at the bottom is the exact opposite of what should have been done. Buy at the dip, and wait for the rebound, and you will never lose as long as your investment is in a strong growth oriented company.
Does anyone else use appentraq paid signals, i heard they are really good?!
Props from Salt Lake City Utah thanks for having the balls and coming out and telling the story people lose a lot in the stock market no one ever talks about it
thanks for this brutally honest video. I had a somewhat similar experience in 2018 and it still hurts but this video made me feel better.
350k??? I would have had a mental breakdown for real
Not if you had 2 millions left... Guy s rich.
Only invest what you are willing to lose. Had he had a lot more in the bank
@@jeanlenor1858 yes he is and he went for that gamble, to make it 10 times more :-)
Great video! Your honesty is truly appreciated.
The upside is that you were able to move from the garden shed to the basement.
zero risk management is written all over the video
The gold was his risk management he just was not smart enough to hold on to it smh 🤦🏽♂️
@@ericcarlon i guess from the price of roughly $1295/oz (when he said he started this) to when he did this video $1320/oz would be risk management???
I feel like you wanted to be good at trading more than you wanted the money.
This is the most honest channel on TH-cam!
Great video, great insights. Thanks for sharing honestly. Best of luck in the future bro'. 🤜🤛
Looks more like you did swing trading than day trading.
swinging it the opposite way
Angry HD you gotta know when to let go.
i dont get how u spend a year learning and then buy gold or silver... or stocks that are down trending. he didnt even really have a strategy i dont get this guys mindset. way too risky
This video should be required watching for every non-professional thinking about any type of trading. Really interesting
Agreed.... too many ppl with the hot stock tip are bound to lose but I believe TechLead's formulae were also extremely flawed lol to say the least.... you can definitely crush the stock market i did so for 7 years after the recession, but my interest level and studying of it was a lot higher..... TL DR... it depends
Over ninety percent of people who try day trading lose. Which is true of anybody who try to succeed at anything; playing a musical instrument, going to the gym, marketing, trying to succeed at a youtube channel, trying to write a book, trying to play professional sports. The list goes on and on and on. Day trading sucks like any other job and pays just about as well.
Same happened to me including making money at first - but on a much smaller scale. It hurt just as bad though. Very painful. This is a must watch video by anyone thinking of daytrading or shorting or commodities. Thanks very much for sharing what is a very painful memory. Take away: if a smart guy like Techlead can get hurt this bad so will most of the rest of us. He and I are living proof that less than 10% make money at this consistently. What is the secret?: they're smart and also work at this 12 or more hours a day for years. Yes there are proven exceptions but you are almost certainly not one of them. They also, from time to time, experience heart-stopping losses. Don't do it. Save your hard earned money and focus your efforts on something more enjoyable. Techlead is making money at this but it is a tiny fraction of what he lost.
I usually don't look at the stock market. But anyone with a MACD, RSI, and Stochastic; could have easily seen the impending 2/21/20 drop. Although they wouldn't have known how far it was going to drop, they surely would have had a great indication that it was most likely going to have at least an average dip. Anyone shorting that daily or weekly chart could have surely captured at a bare minumum a 4,500 point drop and quite possibly more if not all. Even today's 3/24/20 2000+ gain would surely have been entire within the realm of possibility. The stock market seems to be a lot easier than FOREX. Not only that but the recent low ~18,500 was exactly hitting a major support area right where the bull market started at Trump voted into office back in November 2016. Gold is also ~10% up from three day lows. Oil too up around 10%. As is Silver.
@Angelo Yea. I with you. There is about to be a huge collapse in the stock market. People are being sold on and blinded to the infinite risk of Shorting (you only have to be on the wrong side of a Short for a very little bit of time to lose it all). If you must scratch that itch, buy a cheap out-of-the-money Put option and lose a small fixed amount of money. Small price to pay.
Thanks for sharing this! Individual retail day trading is risky and stressful business. You have to look for plays everyday and no matter how good you think you are the stop losses always get triggered. Your video hit the mark on so many things. I choose to walk away in the red -63% before I lose it all and invested in etfs/ index. It was a huge eye opener for me.
Thanks for your honesty. Very interesting.