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Ramsey Everyday Millionaires

Should I Stop Day Trading?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.83.6K Ratings

🗓️ 28 March 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget!   Listen to how ordinary people built extraordinary wealth - and how you can, too. You’ll learn how millionaires live on less than they make, avoid debt, invest, and are disciplined and responsible!   Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: (SmartVestor Investing Professionals ) #PaidEndorsement   📝Get your free copy of Ramsey’s Complete Guide to Investing: (Ramsey's Complete Guide to Investing)   🏦Take a retirement assessment to find out how much you’ll need to retire: (Retire Inspired with the R:IQ Retirement Assessment)   📈See how much your investments could be worth over time with this handy calculator: (Investment Calculator)   🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (Ramsey Investing Tools and Resources)   Listen to more from Ramsey Network 🎙️ The Ramsey Show  🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership 💸 The Ramsey Show Highlights   Learn more about your ad choices.    Ramsey Solutions Privacy Policy

Transcript

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0:00.0

This episode is brought to you by SmartVestor.

0:07.9

Connect with an investing pro near you at ramsysolutions.com slash smartvester.

0:13.6

All right, Jordan's up next in Philadelphia, Pennsylvania.

0:17.3

Jordan, how can we help today?

0:19.1

So I'm 26.

0:23.7

I have a house that's paid off.

0:29.1

Me and my fiance have minimal to no debt, probably the maximum we have.

0:35.1

I have around 1,100. She has around like $14,500 to $1,500 in debt.

0:40.6

I started trading options about five years ago, wasn't successful,

0:46.7

sort of sat down for the past two years, three years, researching, studying markets.

0:52.6

You guys are king of investing, so I wanted to get your advice on it. I started about four, five weeks ago with $660, and my account is now sitting

0:58.8

at $4,800, $200. So I don't know if I should continue with the strategy that I'm using

1:08.6

of trading options, or do I move to a different strategy?

1:15.3

Well, you've called the right show and the wrong show. You're not going to like what I

1:18.7

tell you to do and you probably won't do it. I would tell you to stop day trading immediately

1:22.0

and focus on long-term wealth building through your normal day job income. Do you have a normal day job?

1:29.3

Yeah, so that's actually what got me back into trading because I started this current position

1:35.0

on that. I work 412 a week, so it gives me two to three days to day trade. I'm currently making

1:42.2

4235 an hour, I believe it is, or 32-40.

1:47.4

Okay. So you're making about 85 grand a year, if you're doing that 40 hours a week.

1:51.3

You said you're doing 48 hours a week, so it's probably a little more than that?

1:54.4

Correct, yeah. Okay. And what makes you go, I need more?

...

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