Key insights
- The post discusses concerns about a friend considering a costly day trading course. The high risk and low success rate associated with day trading, coupled with the potential for scams, raise concerns. While the post doesn't directly impact the US market, it highlights the risks faced by retail investors globally, which can indirectly affect market stability if widespread.
I have a friend who got really interested into daytrading all of the sudden. She really wants to earn more money and sees this as a way to achieve it.
I won’t say that no one can earn a living out of daytrading, but I do know that there is a very high risk reward, and I believe 97% of the people that try actually lose money. Note that I know very little of daytrading.
She talked to someone online who is willing to coach her every week, but this “course” will cost her about 3000 euro.
I might sound like a complete boomer, but I am afraid that she will make a mistake by buying this course, and it feels like a scam. I tried talking to her about it but she still seems convinced that it will work for her.
Am I missing something here and could a course like this actually help her? I feel like trying to talk her out of it won’t make much of a difference. Maybe someone has experience with situations like this?