Day Trading sounds fun right? You see  people turning hundred dollars into  

millions all the time on YouTube or social  media in general. Well, even though I am a  

full-time day trader. I just gotta be honest  here, Day trading is probably NOT for you.  

Hello everyone. My name is Shay, aka HUMBLED  TRADER. I’ve been day trading for over 7 years  

now. In this video I want to talk about the 3  reasons why you shouldn't day trade. So if you are  

interested in seeing more beginner content like  this, please remember drop a like and subscribe.  

First reason, and it’s perhaps the  most critical one you shouldn't day  

trade if you are struggling financially. 6;30 I strongly believe if you cannot pay your bills,  

if you don't have a job providing  you a stable income, and if you are  

drowning in debt, you shouldn't day trade. I know this might be an unpopular opinion,  

and I'm sure I’ll get some heat for this since  we live in a world rampant with stories of  

rags to riches stories on social media. Is so common today to see people turning  

a small amount of YOLO money into millions  in one trade. Like the wallet that bought  

SHIB tokens last year and turned that $8K  into billions of dollars in one trade.  

And for many audience or readers, they’d  think they can achieve the exact same thing.  

In psychology, this is called survivorship  bias. “Survivorship bias is the tendency for  

people to cherry-pick people or strategies that  successfully made it through a selection process  

and ignore all those that failed. People tend to  focus on these survivors, even if they survived in  

large part due to luck rather than viability.” It is that phenomenon that causes us,  

even myself included when I first started  as a brand new trader. To have that false  

confidence to think that if I see two people out  of 100 turning $1000 into millions, then that  

means I definitely could do the same too. And it’s that false confidence and lack of  

media coverage that makes us overlook the  other 98 people out of this group of 100,  

who lost their $1000 instead. Which is the  other side of the story we rarely hear about.  

When I first started trading, yes I admit I fell  for that survivorship bias I mentioned earlier. I  

thought I could get rich quickly because  of all the things I read online.  

But, the big difference here is I had a 9 to 7  job. So even if I lose my entire trading account,  

which by the way I did, I still  would not be devastated financially.  

Again, I had my employment income to pay the  bills. That is a big difference here. If you  

have a stable income and you want to start day  trading with some small accounts on the side and  

start learning. Definitely do what you want  as long as you are financially stable.  

I’m not here to discourage  people from day trading,  

but what I am cautioning against, is to put your  last $1000 in your bank account to day trade.  

Especially if you don’t have a job. I think  that would be extremely risky and devastating.  

There are going to be people out there  encouraging you to spend the last $1000  

into “investing in yourself” and purchase  education programs to learn to trade,  

investing, cryptos, amazon FBA, shopify etc. I’m really against that. I think the right way  

to invest in yourself is to make sure you use that  money wisely to pay your rent, pay your bills.  

When someone asks me on Instagram or Youtube  me that they have one last $1000 in their bank  

account and they want to trade with  me. My first response is, I’m sorry,  

but I don't think you should day trade. Don’t purchase my Academy if you are struggling  

financially. If you really want to learn trading  still, you can check out my playlist below called  

day trading for beginners. It’s free, there’s tons  of content and knowledge there for you to learn.  

I know this may sound discouraging, but this  is tough love. I'm saying this as your sister,  

your friend, or as some may  even call me their trading mom.  

Yes believe it or not I did get some mother’s  day cards from my HT members on mother’s day.  

So this is what they mean by I don’t  have any kids, that I know of.  

I genuinely believe that you can only become  profitable day trading as a beginner trader if  

you focus on the learning first and take initial  small losses as market tuition and pay your dues.  

If you are struggling financially, you will likely  throw stops & risk management out of the window.  

So if what I just described sounds like you.  Please keep that last $1000 to pay your bills.  

And look for a job that will  allow you to live a stable life.  

Once you have your life together then sure,  if you are truly passionate about day trading,  

then perhaps it’s worth revisiting this business. If you have a job, and you are doing fine  

financially. Then do whatever you want. Whether  that's yoloing everything in Gamestop, AMC,  

or SHIBa inu. You do you it's your money. The second reason you probably shouldn't  

day trade is if you are looking to get  rich quick. Now this is something we’ve  

talked about many times on this channel.  Day trading is not a get-rich-quick scheme.  

Did I think I could get rich quickly following  chat room alerts 7 years ago? Yes, I’m guilty.  

And did I actually get rich in 1 month? No! In fact, all of those services things like copy  

trading, chat room alerts or signals,  are very likely going to lead you  

to blow up your small trading accounts. Sure you may make $50 here, $100 there  

following someone else’s alerts to buy or sell.  But it all takes is one time to lose $200,  

$500 or even 1000 dollars. Because following alerts teach you nothing.  

You don't know the proper way to plan your  trades which includes entries, exits, and STOPs.  

How to manage your risk, so even if the trade  goes against you, you keep the loss controlled.  

But you can live to trade another day. That's the reason many beginner traders  

had roller coaster PNLs in their first  year. It’s because they only focus  

on the illusion of quick and easy money, instead  of planning out their risk-reward beforehand.  

That's why we call it risk-reward  in trading, not reward risk.  

Like we mentioned earlier in reason #1, day  trading requires you to pay tuition to the market.  

We all start out losing money in trading as a  beginner. Whether you like to admit it or not.  

But you get to decide how much to lose. Only those who start focusing on planning  

their trades and trading their plans before  clicking buttons will make it in this game.  

This business is a trial by fire. So, if you  want to get rich and make millions tomorrow  

as a beginner. Day trading is not for you. The third reason you shouldn't day trade. As  

if you are incapable of critical thinking and  taking responsibility for your own actions.  

Day trading is not like a normal 9-5 job,  where you go in to work for your boss,  

and whether you do well or slack  off, you are guaranteed a paycheck.  

This is a business where you are 100% responsible  for your own actions and profit or loss. In fact,  

you could show up to “work”, and still lose  money. At the same time, you could also do  

the right things and make huge profits. Whether it's a loss or a win, you are solely  

responsible for your trading account balance at  the end of the day. This is a business where you  

need to make judgment call for your own account  your own trading style and risk tolerance.  

One trader may see a good long opportunity and  buy the stock on the way up. While the other  

trader may see a short setting up near resistance.  There is no right or wrong answer. There is only  

trade management and following your own setups.  Whether you press the buy or sell button or no  

trade at all that is entirely up to you. As traders, we need to be introspective and  

review each win or loss. Where are the areas we  can work for next time? How can we improve our  

strategies or manage our risk better next time? These are all reflections and thinking you should  

be doing for yourself after each trading day. Sure, it would be easy to always blame the  

pumpers, the alerts, and how the market is  rigged when you lose money. But what happens  

when you make money? Do you attribute  some of those gains to the same people?  

I don’t have the answer to those  questions. But I know for myself,  

whether I make it big or lose big, I take full  responsibility for my own actions in trading  

and of course for my own broker account.  

If I lose, it's no one else's fault, and if I  profit, those gains belong only to myself too. 

Until the CRA enters the door. You don't have to be smart or have an MBA  

in finance or economics to day trade. But you  do need critical thinking skills and be mature  

enough to take responsibility for your own  decisions. Otherwise, trading is not for you.  

Remember kids, day trading is a risky  business. If you are struggling financially,  

if you think you could get rich quickly or if you  cannot take responsibility for your own actions,  

then day trading is definitely not for you. Again, I'm not trying to be discouraging.  

I'm just being real and not feeding you the  Kool-Aid. This is tough love. However, if  

none of the reasons we just talked about apply to  you, then feel free to learn from my day trading  

for beginner’s playlist down below in the video  description, and make sure to like and subscribe  

if you want to see more in the future! Thank you guys, so much for watching as always,  

I’m the humbled trader. And I  will see you guys next time.