Ep 23: Myths of Day Trading
SteadyTrade
SteadyTrade.com
4.6 • 589 Ratings
🗓️ 22 January 2018
⏱️ 48 minutes
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| 0:00.0 | Welcome to the Steady Trade Podcast, everybody. |
| 0:06.3 | Stephen here, sometimes known as Jevan. |
| 0:08.9 | A very exciting episode today. |
| 0:10.4 | We're going to be talking about how we can't dispel the myths of day trading. |
| 0:15.2 | Or maybe we can't dispel the myths of day trading. |
| 0:17.3 | I mean, Tim, what? |
| 0:18.3 | What's your opinion? |
| 0:19.6 | You know, it's one of the reasons we're doing |
| 0:21.9 | the steady trade podcast is exactly that fact. I mean, it's weird the way things kind of come together. |
| 0:28.1 | So we're going to talk about the myths of day trading and, you know, especially how people, |
| 0:33.1 | so many people get burned in day trading. So I have, I seem to always have some stupid anecdote or story |
| 0:39.2 | related to an episode, but hand on the Bible, this is the truth. My son had his driver's test. |
| 0:47.1 | He's turning 16. So, you know, you have to take the driver's test where you take your own vehicle, |
| 0:53.5 | the instructor sits there, and then as the parent, I just sit in the back seat and you cannot say anything. They basically tell you to shut up. But I think you're just there in case you like crash your car and then you're somehow legally responsible. But ironically, you know, we got talking about, well, you know, he asked, what do you do, Tim? And so I explained what I did. And he's like, oh, yeah, you know, got talking about well you know he asked what do you do to him and so |
| 1:11.3 | I explained what I did and he's like oh yeah you know I tried that day trading and and penny |
| 1:16.4 | stock thing and and he's like it doesn't work and I'm like well what do you mean it doesn't work |
| 1:22.1 | and he's like well like eight years ago he he got like a stock scott scott trade account or something and |
| 1:29.8 | bought some wireless electricity transmission company so like like Tesla or like an |
| 1:36.4 | iron rand atlas shrug type idea bought the stock at like a dollar it went to a dollar 70 |
| 1:42.6 | which is a 70% gains. Nice. But, but, but, oh, how'd you know? |
| 1:49.3 | How'd you know? So, so here's this guy telling me that trading penny stocks doesn't work, |
| 1:55.6 | but Stephen instantly knew where I was going with this story, even though I have not told him this story |
... |
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