I’m 18 and Make $15,000 a Week Day Trading

[Music] brought to you by the every dooll app start budgeting for free today so I'm in a bit of a unique spot um I'm 18 years old and I'm actually uh I trade Futures I'm a day trader and I've recently started making a pretty large amount of money and I just want help uh you know managing it correctly and making responsible choices when you say you've been making a lot of money tell us real dollar amounts well uh I've been averaging about 15,000 a week for the past five months okay past week I made 25,000 wow what did you start with uh so how I actually uh trade is I'm a funded Trader I'm actually treated as an individual contractor and the The Firm provides me with capital to trade with after they've evaluated me so really I just uh paid for that evaluation fee which was only $150 so you're not investing your own money no what how do you get paid uh so they take commissions off my trades and then they give me uh the rest so what's the rest what do you get it's it's it's a 9010 split I get 90% then they get 10 wow listen lucky ducky wild lucky ducky and I I I say that on purpose cuz this I feel like this is sheer luck going on right now and I only say that because a lot of the statistics show that day Traders I mean statistically it's like less than 5% 97% of day traders who persisted for more than 300 days lost money so you are yes I have heard that you're not at the 300 day market and truthfully I have no ill will I hope you keep making money keep making money yeah but the the key that I would go is like if this was Vegas we'd all be around you going dude cash in the chips and walk away all right you literally it's like you just won the lottery and now you're playing with other people's money which does lower your risk you're not putting your own money but my bigger question is what are you doing with this 300 th000 you've made in the last six months uh well I've got most of it sitting in my bank account um I still live with my parents so I really don't have many living expenses I'd say I probably only spend about maybe 1,500 a month okay I've just been saving it up and uh I've been planning on buying a nice car but I don't know if that's the responsible thing to do I would have like a house before you put all of your money in a depreciating asset to impress your friends and trust me they would be impressed what's less impressive is invisible wealth where you're like well it's in the equity of my very reasonable home have you ever lived on your own before Amir no never I I'm actually recently just turned 18 okay so I might I might differ with George only on timeline like I think it's a good idea to buy a house but maybe not yet if I were you my first goal would be like listen I'm going to get out of this house my parents house and I'm going to go rent for a while and I'd probably Park that 300,000 like in an index fund and you know maybe look at your projection and say okay do I want to be a homeowner in the next four years in the next 5 years whatever that is if it's 5 years or less I'd probably put it in a high yield savings account but if it's more than 5 years I might Park a good portion of it you know just in some sort of index fund and just wait until you're ready to do something I like George's idea of doing real estate but if you do buy a vehicle because you need one just buy something that's modest like I would not use this money as an excuse to inflate my lifestyle into such that's not real longterm yet if that makes sense I think you'll be a successful guy we just don't know if you're going to make $300,000 a year from here on out does that make sense yeah yeah I understand it's not obviously a linear thing um I wasn't planning on buying you know a super car or anything I'm looking at a a 2014 Mercedes CLS it's about $28,000 and I was just wondering if buying that cash would be a responsible thing to do or not what do you make outside of like is this your full-time job uh it is now I used to uh do um like uh gigs on apps like door Dash and Uber Eats before I became profitable okay and what did you make when you did that um well it really depended because uh I was still in high school and then towards the beginning of this year I was still in college so I was only working about 20 hours a week so maybe at most like ,500 a month but some months I'd go up to like 25 here's the thing I'm all about you buying a car in cash I would treat this money like the the windfall that it is and so in that case if you wanted to take some of it and buy a car I'm not mad at that um do you have any debt I'm hoping not no no debt um yeah 2014 what would you say George I'm fine with it I mean it's reasonable the thing that the parameter we look at is you don't want more than half of your income tied up in things with wheels and motors and the truth is we don't know how sustainable this income is is and so what I would caution you against is losing out on opportunity cost of hey 28,000 in a car that's going to be worth 20 a year from now may not be wise when I could put that into XYZ an investment a future homeown payment fund what it what whatever it may be so there's nothing wrong with getting a car think you're doing it in a reasonable way you don't sound like a guy who's about to blow up his life to go flex on Instagram I just know as an 18-year-old that would be my Temptation mm yeah I I I agree with George yeah you're 18 you have a lot of time to build wealth and this is a really really great head start as long as you don't lose it in the next 150 days um yeah this car to me doesn't sound super inflated it kind of just sounds like I mean it sounds like what it is you were playing at the tables you got lucky and you got a lot of extra cash on your hands but be really smart with it and you're good to go yeah one last question what do you want to do with your life let's fast forward 5 years from now let's say day trading does not exist anymore SEC makes it illegal you know what are you going to do well I'm actually currently in college studying biochemistry my dream is to become a doctor one day hey do you come from a middle eastern family I do I I feel that as a middle eastern guy everyone of my family is a doctor but me at this point or at least in the medical world this money sounds like med school yeah it does sound like med school that would cover all four years hey that might be the reason this money was put into your lap not to blow on cool stuff but to fund School completely debt free you know how much of a unicorn that would make you when you graduate right when all your buddies are bragging about oh just took on another 50 Grand in debt I'm at 400 Grand like this is the these are the conversations my family now has you know what I mean and so I'd love to see you set yourself up for a debt-free future and to J Point let's let's hold on and see what the future holds and if it is med school we've got it funded and Mom and Dad don't have to co-sign student loans to make this happen that's pretty awesome my guy got lucky it really is the equivalent like you said George to going to Las Vegas somebody gets hot on the crafts table and listen I am the one telling them to roll again cuz I just love Las Vegas but truthfully day trading the stats are there like there there's no arguing with that if it for him the good thing is it's not his money and it's crazy that he gets to keep 90% of it I don't don't know what firm is hiring 17-year-olds to do this bidding on their behalf that sounds very sket sketchy I and I believe air I just think it's wild we've taken many calls in the the show Jade people losing 30 grand 150 Grand even 300 Grand by day trading so don't look at air and go I'm going to be the next Air no you're likely to be the next person to call in broke I know Amir got lucky and lucky for him he'll be able to pay for all of his med school in cash and be the first deeptree doctor he created his own scholarship fund create your free every dooll 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