Lately YouTube throughs stock trading videos on my feed people making 40k in a week and similar amounts. What's the catch ? Are these real ?!
People who make 40k a week by trading stocks wouldn't spend time making YouTube videos. I noticed these are people who have got lucky few times and are trying to capture audience using YouTube to make a living out of it.
their actual business model is probably goading suckers into signing up for their training course. Its like dropshipping
Day traders will only tell you when they make money, never when they lose money
Yeah they might be making money but it isn't just from trading - usually they're selling a trading course which won't cover much more than the basics (but makes them $$) or they're running a trading pile-on scheme -- one that comes to mind is called warrior trading I think? It's illegal with stocks but very prevalent with Bitcoin - where they basically use their followers to manipulate prices - they buy on what feels like a drop, and then they convince enough people to buy RIGHT NOW with a market buy to get in which drives up the price so the person can sell at a higher price. If they're just showing you how to day trade and it's just YouTube, you can learn some tips from them but usually the best traders aren't giving away tips.
You too can make 40k in a week at the casino. If 100 people try it, 1 gets to succeed and make a youtube video.
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If they were making any real money, they wouldn’t be peddling themselves on YouTube
It is survivorship bias. You only see people who succeed.