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This Person Has a YouTube Channel?!?! Scary…

A big problem for brand new traders looking to learn how to trade is that there is free information available to them. I realize that sounds nonsensical, but this is a topic I’ve talked about many times before, but thanks for an actual YouTube comment section conversation I had, I now have another funny/scary data point as to how/why so many traders fail, despite the abundant amount of free information available.

The 90% Failure Rate Explained – click HERE

How Trading Hesitation Works ClayTrader Mail: A Great Discussion. Trading the Stock Market is NOT Fair Trading 101: How a Stock Can Lose You Money. ClayTrader Mail: I Suck at Business!

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Transcript:

Hey, it's Clay, welcome to another fireside chat,and this is kind of an impromptuvideo that I wanted to do just becauseI had an interaction with somebody on YouTube comments,and it got to the point whereit's just like no wonder whypeople can be skeptical of me, I get it.I've always gotten it, but this is a perfect example of it,and this is also a perfect example of whyyou have to be so careful out therewhen you're searching the world of "free information."Because you just never knowwho is actually teaching you this information,and I should note, this applies to me too,so if you are brand new to my channelor to my site, then don't take me at face value, you know.Don't just be like okay, here's this person,he's got a YouTube channel, therefore heinstantly knows what he's doingor he has instant credibility.Anybody can create a YouTube channel,and you need to be aware, but this alsoillustrates perfectly you know, the wholegray territory of well, when you don't knowwhat you don't know, it's hard to even knowshould I be listening to that person or shouldn't I?And this is why I do try to offer up so much free content,why I have, I don't even know what it is at this point,I think it's over 300 live trade videos.Then of course I have the vlog, the fireside chat.I mean, if you check out the YouTube channelor if you check out claytrader.com/blog,with a B, blog, there's all sorts of free information thereand part of that is just hey, I get it.I'm a stranger on the internet,but kinda here's my teaching style,here is my thoughts on things,here's my approach to teaching,here's my approach to trading,and you know, it's my way of trying tomake you familiar, and you know,if you watch us, if you're like, no I-Then hey, I'm not offended.At least I've given you enough informationto make that decision.But the point here being,you gotta be very, very careful,because this person I'm gonna show,I'm blocking out their information,there's no way I'm driving any trafficto this person's YouTube channel.Absolutely not.But this person, like I said, has a YouTube channel,and they're doing how-to videos andlike you know, how to do this, how to do that,and then they reveal kind of-Well, I guess, I don't know if mentality's the right word,but just pretty much kind of their model,their trading strategy for you know, themselves.And again, ask yourself, is this somebodythat you would want to be learning fromin the sense of how-to, in regards toanything in the world of trading or investing?Uh, I'll answer that for you, no.So let's get to this little exchange.So the Bean Juice, he's just replying to somebody.I know my portfolio is down 14% today.I made a video of me swing trading,and then I hold and this happens, craziness.I reply back, you are a gambler.Not sure what you expected.Eventually those who are gambling with get burned,so I can't type, that should have said will get burned.Their reply back, remember this is the personthat's got the YouTube channel and doing how-to videos.You are correct, I came from a gambling background.I have lost thousands of dollars in the casino.Here I don't lose as much, and I can have my fun, ha ha.In other words, hey, I'm losing money,but I'm not losing as much, and I can still have fun,you know, ha ha, you know, this whole stock market thing,it's just basically the glorified casino for myself.And yet, they have, like I said,the channel where they're now-Do you want to learn from somebody thatapparently isn't treating things too seriously,when they're ending things with ha ha,and then they're just admittingthat they come from a gambling backgroundand hey, you know what, I'm not losing as muchas I did in the casino, so I mean is that the bar?I mean, that's seriously the bar,is hey, think about the logic chain here.Because I don't lose as much in the casino,you know, that must mean I know what I'm doing as a trader,so I'm just gonna have a trading channel nowbecause I don't lose as much.But you're still losing, and it's not a shockto why you're losing 'cause you're gambling,which you just admitted to.So we have a gambler now teaching supposedlyhow to do stuff in regards to trading.That's crazy, and this is not like some isolated incident.This is all over the place.There is a reason why people that you know,I'm gonna go the free education route.Why is free education that's available out there,so you have that and then you have failure rates thatyou know, 90% of people fail.Some people say 95% of people fail.We'll just go with 90, since it's not as bad.90% of people fail.Have you ever stopped and thought about that?Okay, if 90% of people fail,yet there's all this free information out there,how is that possible?You know, and I've done videos on this before,but this is kind of a littlejust perfect real life case study of well,this is how, because I guarantee you,people that don't know what they don't knoware coming across this person's YouTube channeland okay, yeah, they're starting to takehow-to advice from this person,who is admitting, you know, on comment sectionsof other videos that yeah, you know,I don't lose as much here, but you know,I come from a gambling background, ha ha, you know,and they're just having a good old time.And then people that start to learn from this personwonder whythey're not having any success,why nothing seems to be right.I mean, 90% failure rate,and yeah, there is free education all over the place,but this is just one of the many pitfalls,one of the many traps out therethat new people fall into becausewhen you don't know what you don't know,it's very easy to fall into somebody's channel like thisand sure, I'm sure this person is posting gains,because gamblers do win, too.It's not like gambling means you lose every single time.No, gamblers win, and I'm sure this personhas posted some portfolio growth maybe,or some winning trades, which okay,well they're winning, thereforethey know what they're doing.Well, I mean, you can win as a gambler.That doesn't mean you know what you're doing,and that's how people get sucked in,and then they start learning from peoplethat shouldn't even be teaching in the first place.And again, this doesn't apply to this-This applies to me too.So by all means, check out the rest of the channel.Check out other playlists that I have,and try to get familiar with meand what I teach, what I preach,and as a nutshell, I rarely talk about winning,because winning is very-winning doesn't matter, risk management matters.Understanding risk control matters,and I realize that sounds really boring,but unfortunately, that's the fact of the matterand that's kinda the culture is hey,focus on good habits and when you have good habitsthat are based and centered around risk managementand risk control, everything else takes care of itself.But this person who is a gamblerand a gambler by nature, and ha ha, you know,I'm just here having a good time,I mean, come on, that's not somebodyyou want to be learning from,so I kinda found this comical.I found it very disturbing, and I found itvery educational in the sense of what I've talked about,is you know, this is why, yeah, you have free informationall over the place, but 90% failure rates.Well, yeah, I mean, this person'sgonna lead so many people to the slaughterhousethat the 90%, you know, there's plenty of peoplethat continue to go into that categoryand this person has helped kindashoveling the newbies that waywhen the newbies just don't know any better,so if I can just motivate you to kindatap the brakes and try to reallyslow down when you're learning,then this is a mission accomplishedas far as a video is concerned.But just be very, very careful out there.If you are out there trading alone currentlyand maybe are in the market, looking fora community to join to assist youin your trading, or to just help you,give you another set of eyeballs,then I do have a private trading communitywhere you can trade alongside meand other experienced traders,so what you see popping up on the screen right nowis both an information link, so if you click onthe inner circle one, that is going to take youto the page where I explain all the detailsof what exactly come with the community,both the chatroom and the newsletter,and then the other image that has popped upis a behind the scenes tour, where you can see exactlywhat is going to be contained within the community.I take you through, like I said,a behind the scenes tour of everything,and that way you'll know preciselywhat you are getting when you join.So definitely check that stuff outif you are interested, and thinking aboutwanting to join a community, and let me knowif you have any questions.

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