Day Traders To Billionaires - Online Trading in the 1990's
ฝัง
- เผยแพร่เมื่อ 8 ต.ค. 2020
- Todays video is about day trading and day traders. In order to better understand how markets work it is worth taking a look at the history of retail day trading, which goes back to the late 1980’s, when new technologies allowed a small group of smart and aggressive traders to take on Wall Street and win. Nasdaq market makers at the time called them the SOES bandits. We will talk about what market inefficiencies the early day traders were exploiting, what became of them, and if there are lessons applicable to today’s markets. We will see how the ideas of these early day traders transformed into modern high frequency trading.
Book Recommendations:
Flash Boys by Michael Lewis: amzn.to/3iKduwh
Dark Pools by Scott Patterson: amzn.to/30OdW6x
SEC Litigation Release: www.sec.gov/litigation/litrel...
Patricks' Books:
Statistics for Traders: amzn.to/3eerLA0
Financial Derivatives: amzn.to/3cjsyPF
Corporate Finance: amzn.to/3fn3rvC
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: / patrickeboyle
Patreon Page: / patrickboyleonfinance
Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. Robert Muller, Andre Michel, Ivan Ilaev, Gopaljee Atulya, Milan Tomic, Mark Hooker, Artem Vasenin, PH, Matthews Sebonego, Sebastian, Michal Lacko, Pratap, Deborah Joseph, Robin Sung, Kurt Johnston and Kaushik Vankadkar. https:www.patreon.com/PatrickBoyleOnFinance
Very educative tutorial with well detailed information I appreciate, *The Semyon Tchernenko Strategy* was the only way i was able to get results. You can Google it
@Jodie Herman It would be nice if everyone could resist pitching something in these comments.
@Jodie Herman People like you have limited days to run these scams.
You'll never have millions of followers like "get rich in 10 days" videos but I hope that doesn't deter you from churning out such quality videos.
You might be surprised at how many people would love such videos. I think people out there who have lost money to hyped up trading practices will find this to be a breath of fresh air.
Just 6036 viewings as the "day traders" would rather watch how to get 2% daily return with your "investment" that has 200k viewings.
I think its better to put out a mix of good quality content with sporadic, more superficial, click-baity videos peppered throughout. Those who are here for the good content will forgive the odd click-bait video and it will help get Patrick get more subs in the meantime, maybe even leading people to the rest of his quality content videos.
@@blahblahblahblah2837Your idea sounds nice. I wouldn't mind the clickbait. Also, new thumbnails
subbed because of this comment let's get Patrick to a million
I don't really care about ever trading a thing. I do however have a passion for learning deep complicated subjects from articulate passionate experts on said subjects. This is a perfect channel for scratching that itch.
I don't think there's a single channel as good and as intelligent as this one
Absolute gem
I like your style Mr. Boyle
You really know what you're talking about when you're
serious and your deadpan humor is just great
It is an absolute crime that your channel is NOT 100 MILLION SUBSCRIBERS.
Thank you. Keep up the great work
For real.
100 mil is a bit of an exaggeration
Wow! That puts things into serious perspective. I always thought day trading is largely a losers' game in this era, but never really understood exactly why.
I love your style and your type of video. I imagine myself as papa's little boy and I lay in bed while papa reads bed time stories, but instead it's all these interesting financial markets and mythical lores.
Great content Patrick! 👏
Really enjoyed this, I come from an industry where stories about "the old days" are non stop, so hearing about this sort of thing was really good fun!
seriously fun content to learn about stuff like this patrick. please never stop! so much from the past that no one knows about.
This is amazing. The early beginnings of high frequency trading! Love it.
Patrick, I just wanted you to know
You are the best financial mentor in TH-cam.
Could not find anybody better or close to you.
Thanks again making time to share your knowledge with us.
Rudy maybe.
Absolutely fascinating! This is the best TH-cam channel I have discovered, and I've seen quite a few over the past 6 years! Really impressed with your presentation and knowledge.
I was on the phone with my Datek representative in NYC when 9/11 happened. Never forget that call.
Very insightful. Thank you for taking the time to provide us with such information sir!
This is seriously the most interesting trading video I have ever seen, period.
Not the MOST interesting for Me, but well up there.
@@VwapTrader care to recommend some videos? I'm seriously interested
@@jacksonchris4436 no
Man, the good old days. Excellent presentation. Instant fan. Cu.
Being able to watch this vlogger in an interview with coffeezila made me love this man.. Keep it up.. Really like your valuable vlogs.
I worked in IT in the Banks in the 80s. A lot of the code were simplistic algorithms which can be exploited by observant traders. Great value and objective education. Thanks a lot
Hello..
How are you doing today
I have a business proposal for you
I’m stealing that saying about skinning a sheep! Very good👍
Finally another chance to win a book! I love the content, this is arguable the best finance channel on youtube and has the same value if not more, as the university classes I took on finance when I was a Chem Student
This is a clear description of a difficult topic! Thank you!
Glad to have discovered your channel. Excellent commentary. Just purchased all your books.
You are breath of fresh air m8, i'm enjoying your content.
I used Datek in 1999 & it was a good online brokerage. Then it became Ameritrde. Those were fun days.
Very nice, love these mini documentaries. Keep them coming!
Really enjoy your videos, only stumbled across your channel the other day and find your content both interesting and informative. Keep the videos coming pal.
This channel is gold! Thank you very much for sharing this knowledge
Amazing video, I would love a longer version of this.
You are a wealth of Awsome information patrick. Wow and thank you.. hands down the most insightful information I've come across. You and a few others really give out incredible content. Thank you
Great Video Patrick, the 90/10 win / loss explanation was very insightful
Wow love all this amazing content I'm learning so much !! Thank you Patrick .
Excellent video, very educational, Thanks a lot!
I love these videos, so much information, Patrick is cool!
Love this channel
FINALLY, Thanks Patrick for the quality content. IM SUBSCRIIBED!!!!!!!!
What a coincidental upload, just finished reading Flash Boys last week :) Great video!
Absolutely fascinating, Thank you for posting, Im really enjoying and learning a lot
Great work as always
I literally just finished "Dark Pools"! What a coincidence. So enlightening, I ended up researching all of the special order types like "hide not slide". It's crazy that all these order types are publicly available now but most day traders wouldn't even have a clue they exist.
Its funny you mentioned that. I've been discovering how to use them and have become more efficient at setting them with purpose.
well spoken and very informative, keep up the good work
Excellent one, keep up the good stuff!
Yep, you summed up the story pretty well, the good old time.
Brand new Mercedes SL-500, Stabbing! Love it!!
Amazing video, thank you sir
Extremely good content. Greetings from Oxford!
Keep up the good work pal 🔥
Thanks Prof. Boyle... your work is nothing short of remarkable... very educative and straight to the point... nevertheless it will be awesome if you can link more reference materials to these videos. thanks Prof....
Fantastic video!! Marevolleous look at history. Thanks for this gem
Glad you enjoyed it
Very educational.
Brilliant video. Informative and entertaining!
Keep doing what you’re doing by making these informative videos about the realities of our financial system. You deserve to have a million followers for your work.
excellent video. It is interesting how trading evolved. This reminds me of the book Dark Pools.
I’m a finance geek to a point. I know there’s a strategy to actually do this and some succeed with it. But to me it’ll always seem like an educated game of roulette. But in the end investing and holding long term is much better for me. I’d never be able to emotionally succeed daytrading. Props to those who succeed doing it.
I love the evolution of day traders! Makes me proud to be part of the game!
I very much appreciate your pacing and tone. I am interesting where you honed your communication skills.
In such times as this, you’ve got to make sure you consider having a diverse investment strategy. Your portfolio should have exposure to different areas of the market, including small or large-caps of ETF index, international stocks, grade bonds and alternatives like currency market (forex & digital-ledger) as this will help manage the overall risk on your portfolio
Dave Gustavo
This is smart trading I haven’t seen anyone mention this on TH-cam. I would like to have my account working in the same method.
Probably Dave has more investments and savings. But you’re right, putting all your income into one place is also risky. Diversifying is the best option right now
If you invest aggressively over the long run he will get better returns. You will be able to generate consistent passive income
In the meantime this is presenting an insane opportunity for new investors or those sitting with cash waiting. To set themselves up in a good spot. Even investing in TSLA, bitcoins the volatility market at the moment.
Generally I prefer trading this way dave it ensure lucrative expectations
great documentary, thank you!!
Nice video - entertaining to see the history
Glad you enjoyed it
Definitely worth reading LIARS POKER by Michael Lewis also!
Great vid as allways. Keep on
Awesome ! Amazing!
Excellent content
The adds for day trading secrets on this video are the true gold.
Thanks for the good content!
Love these videos
For the record, the book "Dark Pools" by Scott Patterson is an excellent read- Highly recommended.. Second only to Patrick's book, of course!
Excellent information.
Thanks P Biddy!
Really enjoyed that. Would like to hear more about microstructure
Can you go into stories about becoming a hedge fund and what typical
Salaries for those sorts of those of roles? :)
Very informative Patrick))
Amazing video, thank-you :)
Very funny stuff....as usual. Love your presentation.
This was so interesting to learn about!
Great book recommendations!
Congratulations on your new book
Hey eteoklos
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Great material Patrick!
Thanks!
Your content is great.
Thanks for the SPAC video. My bosses just requested that I analyze a bunch of them for my internship so it was a big help!
Glad it was helpful!
Great Channel. My first brokerage account was daytek. Saw you on coffeezilla. Finally someone who provides in-depth knowledge. I cant stand these gurus or anyone without real experience in the market selling some course. I have invested/traded for over 20 years and never made consistent money until I had a six figure account and invested in ETFS. Then sell calls against it to generate some income and hedge off some deltas with futures if needed. This channel should explode
this is so interesting :) thanks fot the vid!
I'm glad i found your channel.
Thanks to coffeezilla!!
@@user-zq1lb3lx4m yup, that's how.
Great content
And these days we also have GameStop traders on instagram...what an evolution
Thank you Patrick for such quality contents. Your channel is really underrated. Hope people will realise how rich of knowledge and good sense your channel really is. Looking forward to your new videos!
Great review 👍👌
Interesting video! I remember attending an IBD seminar in the early-mid-nineties = everyone was talking about day trading and mentioned a few "trading centers" that had popped up and required a minimum of $50K back then to day trade lol.
I’m not sure if you’re going to see this comment or not but my goodness sir if you ever get the itch to deep dive on any other subject than finance please do, your narration and intellect is so pleasant and refreshing I want you to explain all facets of the world to me 😂
5:00 Regarding the 1,000 share limit - Investing had much more of a hurdle to entry back then. It was typical to trade in “round lots” of 100 shares. Some brokers even required it, they wouldn’t deal in smaller “odd lots” because of the higher fees involved. If they took the request, you the investor would pay more in commissions to buy 50 shares than you would to buy 100.
That round-lot requirement might mean each blue-chip position in your portfolio was thousands of dollars; in 1990 you’d need about $6,000 to get your first stake in Coke or IBM.
This is also why stock splits were more common than they are now. You wouldn’t have seen someone trading at $1,000/share like Booking or Chipotle do today, because it could make them more difficult to invest in.
Reminds me of the RAES bandits who scalped between multiple option exchanges in the late 90s
The 500 SL is the car that Sherman McCoy drive in Bonfire of the Vanities, if I remember correctly. I loved that book!
Great book !
Hello.
I have a business proposal for you
Good god no wonder our financial system is still so inefficient. Inefficiencies = more money
🧡💛💚💙 Love your channel Patrick. Ive been a day trader for 10yrs. Currently I do Bitcoin. Your channel deserves over 100,000 subscribers 🧡💛💚💙
I'm currently reading statistics for the trading floor. I'm definitely reading the derivatives one later!😁
The Derivative one is easy and awesome. Do read it.
Nice hand movements
dream of becoming rich under a year is one of the biggest reason to fail in daytrading
My brother took almost two years to get rid of all the "family legacy" cash; must not have been churning fast enough.
@@Dwightstjohn-fo8ki took two years ? fucking amateur
@@Dwightstjohn-fo8ki 6 months is enough
Love this video thanks for the information. I’d be interested if you know anything about when Eurex started up and how a lot of US day traders used it to make money like Harris Brumfield and Paul Rotter aka The Flipper.