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Thanks Caleb, I just sold my mom's house, dropped out of college, and quit my job at McDonalds to invest in some shitcoins, I'm gonna hit it big this time!
Honestly, if you buy meme coins at the next bottom and hold until next year you will definitively make over 50k. Probably +250k, course depending on how much you put in.
I think a lot of people are looking for a magic solution that will abracadabra all their bills away without any work. It’s the same with “lose weight quick” or “get rich quick” schemes. Everyone wants a shortcut.
I think a lot of ppl think they have time or it could be worse mentality. Then they try to change things without the right mindset such as consolidating then running up the free card again.
“To be fair, I’ve never considered myself average.” The problem is you believe you’re above, when you’re actually WAY below the average line. I think the actual problem is you have no idea where the line is.
Yep, exactly right. The bare minimum of where the bar is, is reliably showing up on time and working an 8 hour day. Anyone willing and able to do that is already above average as an employee or entrepreneur. He’s screwed.
My husband is a banker, and, while he isn't a regular viewer of this channel, if he's had a particularly stressful day, he likes to watch because you say all the things he wishes he could say to people all day. Don't stop being blunt, Caleb. The world needs more tough love.
The point is Caleb is not a banker. Your husband is in the business of profit on these people I don't know why he would want them to stop. If he is having that much trouble with people being able to pay it is kind of on him. You would find it precious if a Macdonald owner was annoyed at people getting fat.
@@cupofjitters4501Any “banker” that has to deal with people similar to the guests on Financial Audit works in retail banking for an hourly wage. Trust me - this is the LAST person you should be hating on. They have no more control over the financial products available to customers than the guy at the drive through has over the kind of salt on your McDonald’s fries.
I think they need to stop taking guests who don’t have a job. The only solution for these people is just get a job. Nothing else can be done or planned until then.
My friends a day trader he makes usually about like 6-7k a month dude its possible it's just so hard and you end up losing a fuck ton of money in the learning process usually
@@colekonop5034 its why you paper trade, while holding a job until you notice that your able to consistently make a profit. Even then you don't go full day trader lol
It took such a long time before he explained about the failed challenges as well, he acted like he jumped into day trading and started winning right off the bat
Today on Arrested Development, Buster plays Monopoly by himself, and after building some houses tells Mother that hes a Real Estate developer like his dad.
I did this too. Pulled $25k from my Roth 10 yrs ago to day trade. Made 10k profit over the next 2 yrs, then lost everything. If I left it in the Roth it would be worth $200k today if I kept maxing the acct. Im a statistic and that's the worst decision I ever made.
my cousin tried getting me to join ACN told me pay 500 get a website and bring in more ppl to get paid as well i was skeptical and fast forward 5 years he didnt get shit from it😂 i was like bruh i told you it was a pyramid scheme
@@devilishirv I attended my first and only Amway conference through my cousin. He hadn’t told me what it was and basically tricked me into showing up. I was really young but also lucky that my mother had gotten scammed by Amway and many other pyramid schemes so I knew the signs.
I worked in an investment bank for 5 years and in finance in general now for just over 11. This show is so cathartic to me, thank you. Seeing Caleb's no bullshit attitude against people like this is so good to watch. The reason most day traders fail is they have zero understanding of fundamentals.
I commented last year that I was saving $1000 bucks a month for a car. I was making $19.79 an hour. Now I’m making 20.69 and I have that car! I’ve saved over 6000 and built my checking to 3000 this year. I’m on track to meet my savings goal of 10000. I’m 36 and only just starting to get my life together. Grew up poor, no financial education 🤷♂️ Edit: It’s October and I just hit $10,000 in savings! I’m making $21.79 an hour now.
One of the easiest things to do is never use a credit card unless you have money in the bank to cover the bill and always pay it off in full every month. Spending money you don’t have and paying interest to big corporations for poor financial discipline makes no sense.
@@AddiBee-r7r I have no debt. My car is paid off. I only have 1 credit card that I don’t even use. I need to start using that and paying it off instead of my debit card. I’m not really sure how all the perks work out like that however. Like it can’t be free as long as you pay it on time. That’s crazy.
@@tripgiannini1892 That is so sweet…no debt! As for credit cards, I’m not sure if you’re talking about perks offered by some like 1% back, etc. We only use one credit card (I need the simplicity) and pay it off by the due date. We have never paid interest for using “their” money for the short time before it’s due. Some CC are free, meaning no annual fee. HOW? Bottom line is, CC companies make HUGE profits off people who are undisciplined with their cards. The ones who treat them like monopoly play money lose out big time, often by wasting large sums of money in two ways. (1) they never learned the difference between a “need” from a “want;” if someone says they “need” to eat out, they never learned; (2) they pay exorbitant interest on “loans,” which is akin to opening the toilet and flushing money down. I’m not wealthy, but I’ve been persistent in not making stupid choices with the money I have, and it’s really paid off in the long run. The advice I got from MY elders long ago still holds true today.
@@tripgiannini1892it’s not free, they often have an annual fee ($50-$100 for most credit cards) and that’s how they make small amounts of money on people with no debt. They do lose some money on those customers but then profiting of the thousands of other customers with mountains of interest and debt
It is crazy to call yourself a day trader when you make 1k a year for 4 years. Younger generations love to sound important and are all boss entrepreneur day trading business owners. With a negative net worth.
@@CalebHammerI wouldn’t ever consider myself a “day trader” but work full time as a union electrician but I trade options and open contracts with buy ins for longs/short positions that i have Stop losses set I can go work and if my trade opens i’m notified and i do trailing take profits “day trading” is not necessarily a good job unless a massive amount of liquidity can be used to make trades daily and have less detrimental impact when a loss occurs
He was doing good bc the market was only going up and probably made trades easy… this is in the past so the likeliness he recently got liquidated with the market going down seems high
“You don’t seem like a real person. You came out of an egg.” 💀 This is out of character for me to even say, but I think joining the military would be worth considering for this dude.
@@persuasivebarrier2419hahahahahahaha Multilevel marketing companies--They're completely predatory "businesses" (pyramid schemes) that require recruiting other people to join to try to make money off of their spending and it's been proven that only 1% of people actually make any money. (Makes sense that he's ok with the statistics for day trading!)
@@TubeWusel TRUE. But in his mind being a “daytrader” is a legit “job”. He doesn’t see it the same as saying “gambler”. Also he may try to say that he keeps at the daytrading but he also had to keep saying “on and off” so he hasn’t really been committed to that either, it just sounds like a good legit profession to him when he says it. It’s very sad. He doesn’t even understand getting older either.
Caleb from the bottom of my heart I want to thank you so much. Today I just qualified for a mortgage on a house. Got denied so many times in the past even though we made $14k a month average. I started watching your videos in October and simce then have been so careful on overspending. Goodbye $1900 a month for a one bedroom and hello to a brand new 4 bedroom house at $1300 a month!!!! You deserve all the success. You are the real deal. Thank you!
@Dylan-ic7kf Absolutely. Cried man tears for a little while lol. Thought it was apartment rentals forever on such a high income. Then realize it's not a money problem or inflation it's all on me and us!
People bitch about immigrants...christ they are the only people working. Every slaughterhouse would close, grocery stores would be empty, and hotels would be a pigsty. We are supposed to count on clown like this guy to get a real job?
Getting into an MLM is like buying a ticket for a train that never arrives, but the conductor keeps promising you it's just around the corner if you can get three more people to buy tickets too.
He's not the sort of person to be able to handle overnight. Considering the insanely high turnover rates for overnight positions, he would be out within 2 weeks. He needs a normal day job.
@@devinbartley5768 I used to work at amazon it actually pays not too bad for something not needing experience. I made 21 an hour when I quit last year.
"To be fair, I've never considered myself average," is probably the mentality that is most responsible for a lot of people ending up pursuing bad things. I think we need to work on removing the stigma associated with being average.
You should rename this show to "Reality Check", because let's face it, cutting through people's delusions is like 50% of the show. The financial problems inevitably follow
@maeo316 Jane Austen is out of copyright, so you can have her books for free, otherwise pick up something fun/world-expanding for free from your library, or see if your library has access to ebooks, even easier
I went into the gas station yesterday and got a soda.. In my head: "going inside & getting some b*llshit!". I still got the soda, I'm debt free so it's okay but still.
EDIT: UPDATE! We got married, closed on a house and have a 3 month emergency fund! @@archeanchaos-s4c $65k saved. Getting married in less than a month, wedding is paid for with cash, we'll get pre-approved and will start seriously looking at houses in Oct. Very excited. Also we're investing 15% of our income between 401k matches and index funds.
@@ymi0613as a woman, I genuinely pray no fellow woman is stupid enough to see this guy as procreation material. At least in this state oh my good lord he is down badddd
There were tons of directionless men in every era. Spending time at the saloon gambling and drinking and being violent. Times are probably just slightly better now, but not much different.
@@Thenandagain I was commenting "live" they named the prop is topstep. They have very easy challenges to pass but charge you in the start and every month. They also have terrible payout rules. Thats why the 50k challenge is 50$ (in "normal" prop is 250-500). They earn money mostly from monthly fees, the "live" (which is not rly live) is granted after long long time.
Exactly this. At best he is allowed to trade with his contributions and their $50k of margin for a small fee but they will have it set up so all positions are closed if he loses enough to wipe out his contributions, leaving their cash used for margins intact. It's basically a flat $50k of leverage rather than a multiplier on his account value.
@@soulysoultradesThat makes so much sense now. He isn’t really trading, he’s paying a fee to simulate it. And the company will pay out if he reaches a goal.
I honestly don't know what sadder the fact that people are truly incompetent in real life or the fact that you seem to have an endless supply of guests where everyone seems to be worse off than the last
You have to appreciate the misplaced optimism of someone who says "I'll figure it out" despite the fact that they haven't figured a single thing out in the past 10 years.
The more I listen to him I think he is a covert narcissist. No accountability, very childish, won’t hold a job, thinks he is above average all while failing at being an adult. Using people for his own gain, claiming victimhood, not listening to advice, and not seeing any reason to change to become successful.
Yeah you can criticize dude’s actions all you want but making remarks about someone’s physical appearance is super trashy and indicates someone with poor character. Oh, and now he just said “I’m disgusted by your existence”. This is the last video I’m going to watch - all this hyperbolic negativity is a huge turn off. It’s obvious that Caleb is a deeply unhappy and insecure person and he gets some pleasure out of feeling superior to others that are coming to him for help. “Couple jabs here and there?” LOL
Dude needs to apply to do security for a company. Half the time you’re sitting at a screen and not physically demanding. HE DOESNT WANT TO WORK HARD! Let’s be real. He can get a graveyard shift and still do the daytime trading bit too.
No but what if something happened?! 😂 He'd be too confused and flabbergasted to do anything at all. Although he might just cringe force them out of there
It is alarming that he doesn’t realize $1k isn’t enough to live on AND he doesn’t realize that 24% annual return on $50k is unsustainable and likely unattainable
futures contracts come with like 100x leverage. So you lose or make a lot from tiny moves in the market. The 24% annual return is unsustainable if you are buying shares and holding (typically). Its not hard if you are using 100x leverage, you will almost certainly win or lose a lot more than 24%. Also TOP Step and other "prop firms" are scams. They say you get 50k trade with but you only have a 2k drawdown. So you are actually paying a few hundred dollars for a small chance at trading their 2k. They have a bunch of BS rules designed to make you fail. Even if you pass their test you won't be put on a live account they'll bet against you and hope you lose the 2k, if you make some money they'll eat the loss and pay out of pocket to you. If you consistently make money they will eventually put your orders into the market and copy them (their trades get executed first which messes with your edge). And if you make a bunch of money they could just decide "you weren't consistent in your trade style" and refuse to pay out and close your account.
Don't tell your kids that they're special or exceptional. Tell them that they are hardworking and persistent and then allow them to become exceptional through their own hard work.
This is why actual day traders tell women they work for a hedge fund now, daytrader now means unemployed with gambling problem, not as much winning as a normal gambling problem though
Yeah it is sad for the very successful day traders as we get a bad rap due to the 99% who claim to be traders and are not. Better to use a different job description when profitable.
These prop trading firms are absolute scams. You pay a fee to do "challenges" to get access to a trading account. But for the business model to work and the prop trading firm to pay out... the majority of people doing the challenges have to fail, pay another fee to do the challenge again, fail, repeat. These firms have tight rules on their accounts, and these rules are part of why many folks fail the challenges. Good on this caller for "passing", but he's a mark to these guys. Edit: $8k in failed challenges for only $500 in "profit" so far? Previously did MLMs and then crypto... absolute mark indeed.
On God, the repulsive mindset of these phonies. In his pea-brain he's some mover and shaker money man who's bored by the concept of retirement cause he can't 'slow down' when in reality he literally does nothing all day long and is veritably less active than a retired senior. The absolute rage I feel from these people who are beyond lazy and disinterested in personal growth, with no life , friends or hobbies and STILL they have this arrogant attitude that they're better than everyone else
So if i get this right, he pays $2,000 to join a challenge with $50,000 bankroll. The system limits his losses and cuts him off if he loses $2,000 so toptrader would lose nothing. If he makes money they keep his money until he can do it over and over again. LMAO what a scam.
Correct they give him 50k on a paper account and he has 2 weeks to make 500$ while following there rules. He paid 50$ to be able to do this. He losses 2k they cut him off and he buys a new account. He reaches the goals they made for him he gets a live account with 50k in buying power from there Top Step takes like 50% of his profits or something like that. Basically they just wrote him a loan with a few extra steps.
My guess is the site gives him a play account with $50k of play money and they aren’t actually doing real trades. This gives me no risk at all and they get to keep the money he puts in if his play account loses money. A pretty easy system to set up nowadays with little to no risk for the site. My guess is most day trading accounts are set up like this.
The 50k is just marketing. Really it's $50 to try a challenge to make 2k fake money before losing 2k in the challenge. But they rachet up the 2k loss after profits at the end of day to increase difficult. Then it's $150 to get the account where you might be able to withdrawal. Then they give you 2k that you could withdraw additional funds if you make money. And most firms like this have you trading virtual money, and they take the risk of your success, because most people fail before taking withdrawal. They add restrictions to withdrawal so you pretty much have to be successful long term to get money out. The really successful people they put on real accounts. It's basically buying 10x leverage on the $200 per account. Futures already has 500x leverage so really it's 5000x leverage effectively.
@@barnabusdoyle4930 My understanding is that you're essentially right - these guys are paying out actual wins with *their own* profits but the users aren't actually trading real money. It's a model where users pay fees and *might* get them back if their paper trades are good enough.
Coding boot camps are not it anymore, please get this out of your head Caleb. Most people will not land jobs or stay persistent enough to land a job through a bootcamp, nor do they get viewed the same as people with degrees/experience.
He specifically says that they are resume boosters. He's never said it would guarantee someone a job. If you're in a related field then yes those certifications can make you stand out.
@@jthedestroytheman1404 no but it’s better than a bootcamp, ultimately it’s up to the person to put in the work. People without degrees that want to get into good paying jobs are fighting an uphill battle.
I'm 30 minutes in and Caleb still hasn't realized that it's $165 A MONTH. That's how the company is making money. he worded is that it was one time $165
Sooo many people are doing this scam too. I know a couple folks doing this exact same thing (some have actually made money) but it’s a genius mlm created from the covid meme stock hype
@@sk6i75odknot so much that he didn’t realize it but this guy is defensive because he’s realizing he’s an idiot so he’s trying to hide things from Caleb while he’s sifting through his finances
When my son was 18 I had multiple conversations with him where he told me "It could be worse" or "I'm doing better then alot of people." I told him there are always people doing worse then you, if you compare yourself to the lowest common denominator you will never strive to be better. (Side note: Thanks Caleb for always providing the lowest common denominator.) You should never compare yourself to someone else, but if you do, compare yourself to someone more successful and strive to reach them. Its not always about winning the race, but can you catch and pass the guy in front of you.
>Thanks Caleb for always providing the lowest common denominator I barely watch this channel anymore because of this reason. Like, why are we still here? To laugh at wayward folks and feel glad that our lives are not as shitty as theirs? This is trashy entertainment masquerading as financial advice.
It's content. He's said multiple times he's not like a Suzie Orman or Dave Ramsey. He provides very basic solutions - cut spending, budget properly, pay off bad debt, have reliable income, etc. This advice gets repetitive so there needs to be something (interesting stories or characters) that keeps people coming back. @duerf5826
If you’re always the smartest person in the room you’re in the wrong rooms. This dudes just never been told he’s not that smart or has never been friends with someone smarter
if my rent was $500 id definitely have a house by the end of the year 😂 but i refuse to living with someone ive had plenty of roommates one being my cousin im good on that
I remember I started to watch your videos way before you have this many subs and I fell in love with this channel. At the beginning at this year I hit the most debt I’ve ever had. I had little over 10k in debt and I put myself in there shoes and it sucked. I felt embarrassed dumb and now after watching for a long time I am now out of debt I fixed my credit and now I have a saving and I just wanna say thanks Caleb because without your tough love I would just continue my bad habits now I live a life with out stress and and I now make better financial decisions ❤❤
Most of these people actually need psycological help not financial help... This dude is beyond rational at this point. The way he sees things as a "solution" is so immature and just plain wrong...
Psychologists and therapists should be educated about money issues. When I explained my situation to some, all they could say was "how do you feel when you don't have financial stability". What really helped was not paying for private therapy, finding doctor who takes insurance, calming down and not spending money to feel better. Not looking around what people will say. Everything started to go well from that point.
@@niebieskimotyl3308I can guide my clients to reflect on their poor spending and educate them on how to seek help from professional financial resources, but giving them any advice related to their finances is just too icky. Definitely doesn’t feel right ethically.
Unfortunately I'm pretty sure doing that would make his problem worse, not better. He's a Get-Rich-Quick addict, hitting rock bottom is just going to make him seek that instant win out even more aggressively.
A lot of people bash caleb for “sensationalizing” bad financial decisions but i think there is value in the shock and awe method he uses, to show you that there is a way out of any sized hole
If he just calmly nodded and said 'uh huh' and moved on, would it get to them? If someone is desensitized to bad financial decisions, perhaps sensationalizing them will get through where other messages have not. Their own frame of reference has become no good.
It’d be one thing if he just tore into people’s finances without any other support. But he provides so many other resources as well to get people back on financial track. His “sensationalizing” is one tool of many to help people get a wake up call and better their situation. Sometimes when I want a sweet treat I’d imagine how my finances would look if I was on the show and decide against it. Like for some people we need harsh truths to get it together.
I love how Caleb brings people into reality. While so many people are watching thinking they can make fast money on social media or the arts, they forget they need to get a regular job to support themselves until the dream happens. They forget it takes 10 years of work to be an overnight success.
Every day trader thinks they are the exception. I have a close friend that got into it a few months ago and when I said it was just gambling he said “it’s not gambling if you know what you’re doing”. I hope he makes it out without losing too much.
It’s gambling without the disclaimer. Hedge funds spend millions trying to beat the market with the smartest people in the world. But yes you and your basement computer are gunna beat the market
@@adamdoucette9887 "with the smartest people in the world." this is so overrated..... This "magic" hedge fund jobs with the "msartest people in the world". I was working in the investment banking, mostly Oxford and Harvard phds, trust me they are normal people with expensive diplomas.
At 5:40 Caleb is wondering how the prop-trading firm makes money. It's pretty F'ing obvious. It's a prop trading firm, essentially an old timey bucket shop. The trades are not actually being placed on the market. The $50,000 doesn't even exist. You're betting poker chips within their enclosed system, just like a casino. He has to pay to take a "challenge", then he can only withdraw if he clears a profit threshold. They know only a few will make any profit. Even fewer will clear the threshold. So the relatively low cost of paying out the meagre few can be easily covered by the entry fees of those that don't.
Prop trading firms are also notoriously shady. A lot of them are offshore and unregulated. So not only do you have the real odds against you, you also are not really trading in the public markets, so there's not much to stop the firm from spoofing prices and telling you that the contracts moved against you. Or they just play the old three card monty trick: you put down your money and then they just grab it and run.
Man, I feel for this guy. I took NuCamp's coding bootcamp in 2022. In fact, my husband and I both quit our EMS jobs and enrolled full-time in a coding bootcamp. Spent 8k for both of us. We both finished in 9 months and really struggled to compete with other applicants that had Computer Science degrees. We both ended up taking jobs outside of coding. I did learn a little about a lot of different languages, but not nearly enough to break into a job role. I ended up going to work as a drone pilot.
On the off chance that the guest reads this--I think what he really needs is to undo all of the damage caused to his worldview by MLMs. MLMs are essentially cults and they're able to get people by selling a certain type of dream (usually if you work hard enough or if you are special enough, you will get rich quickly). He even made a comment about being special and is still participating in get rich quick schemes showing that he's still drunk on the Koolaid. This guy needs to work on deprograming himself because he's still believing in that false dream and it's hurting him. Anti MLM content is a good place to start--theres tons on youtube. There's also some great documentaries on MLMs (specifically on herba life and Lula Roe) as well as an episode of John Oliver
Congrats on the Job Ethan! You already are on the way up and I hope you know all of us are rooting for you! Even if you have setbacks don't let the fact you messed up before allow you to think you need or its okay to mess up again. Keep making the right decisions and keep moving up!
Rapidly going through new interests/hobbies, having no grasp on abstract concepts like time or money, quitting something because of distractions, fidgeting and bouncing the knees - I think he could benefit from seeing a psychologist and maybe looking into getting an ADHD diagnosis.
I think the military would be a great option for this guy. Whether or not he decided to stay in it would at least give him some direction and set him up for a career.
@@pipersecretp3 military ≠ ptsd. There is a lot going on in the military, tons of jobs, plenty of people never see ANY combat. Also this man probably already claims PTSD from never having a gf, or from stubbing his toe when he was ten 😂 at least basic would would beat some work ethic into him.
@@gurue6815 They arent even really good jobs for just HTML anymore. As a web dev you at minium need to know javascript, html, css, and some python, php or java. To be competitive know you will also likely need to know some lower level stuff like c++ or database type stuff too. HTML is something easy to learn on top of everything else as a little edge
Got here in the 4 min of posting mark! Love the show been watching for a long time and finally getting my shit together! In stupid and unnecessary $60k debt and gladly making steps towards bringing it down! Making sandwiches for lunch everyday and that already has helped me a bunch!!!
I have a brother like this. He is 67 on SS and VA health care. We gave him the money to buy a house about 6 years ago. He has to sell it or he will lose it. He lost all his money day trading. He also gambles and does not win. He always looks for the get rich quick scene. The family has determined not to bail him out anymore. He is currently doing odd jobs until his house sells. Hopefully my one sister who is now on a fixed income will not bail him out. He works her continually.
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Did he get the job!?
@@austinmike6046 time stamp 1:07:17
@austinmike6046 He texted Noah saying the he got a job that paid $120 a day plus some gratuity l
@@austinmike6046
It was quick but at 1:07:15 He shows a text where he confirms he got a job
@@austinmike6046he got the job!!! 🎉🎉
Thanks Caleb, I just sold my mom's house, dropped out of college, and quit my job at McDonalds to invest in some shitcoins, I'm gonna hit it big this time!
85% of day traders quit before they hit their break
Cause all them virtual coins are doing great right now 😂
Dogecoin for the win!!!! Is that old now?
Honestly, if you buy meme coins at the next bottom and hold until next year you will definitively make over 50k. Probably +250k, course depending on how much you put in.
@@jokeropsairsoft1706 ⛏️💎💎💎💎
Why is almost every person who comes on this show shocked that in order to get out of debt, they have to work and pay bills?
Because a lot of them have families/spouses who are hardcore enablers and always bail them out.
I think a lot of people are looking for a magic solution that will abracadabra all their bills away without any work. It’s the same with “lose weight quick” or “get rich quick” schemes. Everyone wants a shortcut.
because if they were the kind of people who could come up with that on their own, they wouldn't be so deep in debt that they came on the show.
@@hesjustthisguyyaknow But they’ve seen the show.
I think a lot of ppl think they have time or it could be worse mentality. Then they try to change things without the right mindset such as consolidating then running up the free card again.
“To be fair, I’ve never considered myself average.”
The problem is you believe you’re above, when you’re actually WAY below the average line.
I think the actual problem is you have no idea where the line is.
Exactly :(
Yep, exactly right. The bare minimum of where the bar is, is reliably showing up on time and working an 8 hour day. Anyone willing and able to do that is already above average as an employee or entrepreneur.
He’s screwed.
Dunning-Kruger right here
remember 75% of American students get straight As
My husband is a banker, and, while he isn't a regular viewer of this channel, if he's had a particularly stressful day, he likes to watch because you say all the things he wishes he could say to people all day. Don't stop being blunt, Caleb. The world needs more tough love.
I never thought about how bankers feel or what they deal with I bet this is awesome for him omg
Hahaha yessss!! As a banker- I can confirm this! Sometimes these videos are relief during lunch breaks 😅
The point is Caleb is not a banker. Your husband is in the business of profit on these people I don't know why he would want them to stop. If he is having that much trouble with people being able to pay it is kind of on him. You would find it precious if a Macdonald owner was annoyed at people getting fat.
@@cupofjitters4501Any “banker” that has to deal with people similar to the guests on Financial Audit works in retail banking for an hourly wage. Trust me - this is the LAST person you should be hating on. They have no more control over the financial products available to customers than the guy at the drive through has over the kind of salt on your McDonald’s fries.
@@cupofjitters4501pathetic take
I applied to be on the show but I don't know what I was thinking lol. I don't think I could recover from whatever thumbnail title they give me😂
Literally same 😂 😭 I'd die of embarrassment
Ikr! I couldn't take it. I'm too fragile for whatever they'd do to the thumbnail/call me 😂
That's relatable
SAD UA-cam Commenter CANT HANDLE thumbnail title (picture of Caleb disgusted)
maybe that's why they only have unhinged people on, normal people wouldn't be ok with it
He knows he cannot say it, but he thinks he is too good to work a 9 to 5, or a fast food, or any normal job.
I smell Top notch parenting...
Bro is HARDCORE addicted to get rich quick schemes but has both the acumen and funds of two pennies being rubbed together.
He is addicted to social media and day dreaming and the thought of facing the true reality of his life.
actually, one of thems just a metal button
Brutal.😂😂😂
😂😂😂😂
I was just thinking hes a step away from robbing gas stations lol
Caleb should have framed his budget as a “get rich quick plan” and then this guy might have followed it 😂
It's like that Key & Peele skit where the bank robber reveals his plan to just get a job at the bank
Genius!!! 😅
omg- brilliant!
@@ericthornberg9377"Then after 30 years, we walk out of there like nothing happened." 😂😂😂
@@k20z3keith7 that's be beauty of it, bro! They deposit the money into our bank accounts haha
I think they need to stop taking guests who don’t have a job. The only solution for these people is just get a job. Nothing else can be done or planned until then.
Getting a job won’t help because they’ll just spend the money and end up in more debt. They need to learn budgeting
@@ttsoldier88getting a job is the first step in getting the help they need. It's absolutely essential to start with SOME form of regular income.
@@ttsoldier88you do need the income to make a budget because a budget relies on a constant figure to build it around in the first place
He has a job. It pays about $400 a month, on a good month
There should be more guests that need advices to enhance their finances!
“I’m a day trader”
“I’m poor and don’t wanna work a real job, so I gamble at the government casino”
Pretty sure he has Caleb merch on 😂
My friends a day trader he makes usually about like 6-7k a month dude its possible it's just so hard and you end up losing a fuck ton of money in the learning process usually
@@colekonop5034 yea this dude is making them look bad. You need to have a full time job while learning.
@@colekonop5034Nobody take the time to learn that why 95% of traders fail they just gamble like this dude in the video ☠️
@@colekonop5034 its why you paper trade, while holding a job until you notice that your able to consistently make a profit. Even then you don't go full day trader lol
Dude's whole career plan is basically "win the lottery"
You would probably win at least a little if you did that lol
I think this may be worse
Most Americans retirement plan consists of finding a box of money
I had a bf like that; ex bf now.
@@420vicnic was he profitable?
@@icestationzebraassociates2460 He actually win, he have one "funded" account, but I was thinking it was his first, it was like 50+.
"Liquidated my assets" trying to sound like some big money man lol
withdrew 700 bucks = liquidating my assets" lmao
Selling stuff on FB marketplace
Imma say that next time I have a garage sale 😂
All $750 of it...
I think you just need to pick up a dictionary if that's not a normal part of your vocabulary. Those aren't big words buddy.
The copium required to spend $8000 in failed challenges but look at a +$500 profit and tell yourself you are making it as a day trader
Sunk cost fallacy. Dude needs logic
Clearly he never dealt with his gambling addiction. This is the same logic that gambling addicts use.
Lol, that 500 $ is not profit.
That's roblox muney.
Profit only turn in when you see the transfer in your savings
Lord, give me the confidence of a mediocre man.
It took such a long time before he explained about the failed challenges as well, he acted like he jumped into day trading and started winning right off the bat
Today on Arrested Development, Buster plays Monopoly by himself, and after building some houses tells Mother that hes a Real Estate developer like his dad.
😂😂😂😂
Buster! 😂
Best comment
Accurate.
Best comment ever
I did this too. Pulled $25k from my Roth 10 yrs ago to day trade. Made 10k profit over the next 2 yrs, then lost everything. If I left it in the Roth it would be worth $200k today if I kept maxing the acct. Im a statistic and that's the worst decision I ever made.
-Have you done anything else?
-I was in four MLMs
Bless his heart 😭
my cousin tried getting me to join ACN told me pay 500 get a website and bring in more ppl to get paid as well i was skeptical and fast forward 5 years he didnt get shit from it😂 i was like bruh i told you it was a pyramid scheme
@@devilishirv I attended my first and only Amway conference through my cousin. He hadn’t told me what it was and basically tricked me into showing up. I was really young but also lucky that my mother had gotten scammed by Amway and many other pyramid schemes so I knew the signs.
Someone never taught this man the value of good old fashioned work.
My favorite part was "I swore them off for good after I got out of Amway. Then I joined 3 more"
Spending all this time trying to get rich quick when he could just do a regular full time job
“Mentally I make more money than I actually do.” And mentally, I’m an Oscar winning actress whose method acting as a broke college student. 🙄
I can sell you a course/subscription to make your dreams come true. It’s proven to work.
Proof: Dude, trust me
That's what he means when he says his ideas are influenced by MLMs. That's some MLM shit.
Aa@@beultra3083
Mentally I'm the president
I should turn this into a t-shirt.
I worked in an investment bank for 5 years and in finance in general now for just over 11. This show is so cathartic to me, thank you. Seeing Caleb's no bullshit attitude against people like this is so good to watch. The reason most day traders fail is they have zero understanding of fundamentals.
-How are you paying bills?
-I sold an NFT last month.
Should’ve been on everyone’s bingo card tbh lol
I want to know what idiot bought the NFT.
I commented last year that I was saving $1000 bucks a month for a car. I was making $19.79 an hour. Now I’m making 20.69 and I have that car! I’ve saved over 6000 and built my checking to 3000 this year. I’m on track to meet my savings goal of 10000. I’m 36 and only just starting to get my life together. Grew up poor, no financial education 🤷♂️
Edit: It’s October and I just hit $10,000 in savings! I’m making $21.79 an hour now.
Congrats on your progress!
One of the easiest things to do is never use a credit card unless you have money in the bank to cover the bill and always pay it off in full every month. Spending money you don’t have and paying interest to big corporations for poor financial discipline makes no sense.
@@AddiBee-r7r I have no debt. My car is paid off. I only have 1 credit card that I don’t even use. I need to start using that and paying it off instead of my debit card. I’m not really sure how all the perks work out like that however. Like it can’t be free as long as you pay it on time. That’s crazy.
@@tripgiannini1892 That is so sweet…no debt! As for credit cards, I’m not sure if you’re talking about perks offered by some like 1% back, etc. We only use one credit card (I need the simplicity) and pay it off by the due date. We have never paid interest for using “their” money for the short time before it’s due. Some CC are free, meaning no annual fee. HOW? Bottom line is, CC companies make HUGE profits off people who are undisciplined with their cards. The ones who treat them like monopoly play money lose out big time, often by wasting large sums of money in two ways. (1) they never learned the difference between a “need” from a “want;” if someone says they “need” to eat out, they never learned; (2) they pay exorbitant interest on “loans,” which is akin to opening the toilet and flushing money down. I’m not wealthy, but I’ve been persistent in not making stupid choices with the money I have, and it’s really paid off in the long run. The advice I got from MY elders long ago still holds true today.
@@tripgiannini1892it’s not free, they often have an annual fee ($50-$100 for most credit cards) and that’s how they make small amounts of money on people with no debt. They do lose some money on those customers but then profiting of the thousands of other customers with mountains of interest and debt
I would love to see an episode of someone right out of college and you help them plan how to succeed after!
That's actually a great video idea, he definitely should
“Up and coming day trader” 🚩🚩🚩 so you’re unemployed lol
yeahhhhhhhhhhhhhhhhhh lol
It is crazy to call yourself a day trader when you make 1k a year for 4 years. Younger generations love to sound important and are all boss entrepreneur day trading business owners. With a negative net worth.
@@CalebHammerI wouldn’t ever consider myself a “day trader” but work full time as a union electrician but I trade options and open contracts with buy ins for longs/short positions that i have Stop losses set I can go work and if my trade opens i’m notified and i do trailing take profits “day trading” is not necessarily a good job unless a massive amount of liquidity can be used to make trades daily and have less detrimental impact when a loss occurs
It IS possible to make full time money as a day trader. But u need to be good and extremely lucky especially at first. 1/100 makes it
He was doing good bc the market was only going up and probably made trades easy… this is in the past so the likeliness he recently got liquidated with the market going down seems high
“You don’t seem like a real person. You came out of an egg.” 💀 This is out of character for me to even say, but I think joining the military would be worth considering for this dude.
The discipline isn’t there. It’s possible he could find it in basic training but this guy didn’t exude the slightest bit of motivation for anything
It’d be a waste of time for everyone involved.
Mans would end up with a 30% interest, 72 month lease on a dodge challenger within the first weekend at his fds
Negative on the military, they care about financial situation prior to joining and I'm not sure he'd pass the ASVAB.
He would just be a military simp that picks a silly job with no civil use
4 MLMs, sports betting addiction and "full-time day trader" all by 24. Impressive...ly bad.
i don't know even know what MLMs are but going by this conversation, i thought he was just saying he ate some m&ns,
@@persuasivebarrier2419😂😂😂
MLM stands for multi level marketing. Aka a pyramid scheme
@@persuasivebarrier2419basically pyramid schemes.
Addiction is just another name for dedication 💯💯
@@persuasivebarrier2419hahahahahahaha
Multilevel marketing companies--They're completely predatory "businesses" (pyramid schemes) that require recruiting other people to join to try to make money off of their spending and it's been proven that only 1% of people actually make any money. (Makes sense that he's ok with the statistics for day trading!)
He’s NOT a daytrader,
he IS A GAMBLING ADDICT.
@@TubeWusel TRUE. But in his mind being a “daytrader” is a legit “job”. He doesn’t see it the same as saying “gambler”. Also he may try to say that he keeps at the daytrading but he also had to keep saying “on and off” so he hasn’t really been committed to that either, it just sounds like a good legit profession to him when he says it. It’s very sad. He doesn’t even understand getting older either.
@@TubeWuseltheres a huge difference if you cant tell the world of financial arbitrage is not for you
@@kac669Lol there’s no difference in his case…
Exactly
My thoughts exactly about gambling addict and he's one that doesn't even win smh
If a job requires you to pay them, it's a scam.
So true...I pay to get an acting job, my music video costs, my self published album...all self pay.
Exactly and I don't see how they don't understand this..
All the so called prop firms funded trading firms are scams
Employers certainly disagree, but I see your point.
@@mbm8690 what "employers" are you talking to 😭
Caleb from the bottom of my heart I want to thank you so much. Today I just qualified for a mortgage on a house. Got denied so many times in the past even though we made $14k a month average. I started watching your videos in October and simce then have been so careful on overspending. Goodbye $1900 a month for a one bedroom and hello to a brand new 4 bedroom house at $1300 a month!!!! You deserve all the success. You are the real deal. Thank you!
Congrats! It must feel fantastic 💪💪
@Dylan-ic7kf Absolutely. Cried man tears for a little while lol. Thought it was apartment rentals forever on such a high income. Then realize it's not a money problem or inflation it's all on me and us!
Where do you live that it's $1900 a month for a 1 bedroom? I currently have a 2 bedroom for $1295 in CA. Congrats to you!
@shaylamurray6006 I'm wondering too! From utah. A 3 bedroom is minimum 450k here
Canada is like this. Where I live people are paying that much rent for nothing
I’m a day trader. I trade $5.69 USD for the Wendy’s 10-piece spicy nuggets meal
You're definitely negative then. Positive for weight loss though
BRUH 😂
A good return on investment?
Gambling, pyramid schemes, blows off an interview, ignores bills. Yeah, this guy is a winner. 🙄
People bitch about immigrants...christ they are the only people working. Every slaughterhouse would close, grocery stores would be empty, and hotels would be a pigsty. We are supposed to count on clown like this guy to get a real job?
only 20 minutes in. grabbing my popcorn NOW 😭
Women are busting down his door to hitch themselves to him
Is that a Financial Audit bingo?
@@talyahr3302 ironically if he had a bunch of cheap tattoos and was in and out of jail women would indeed be into him. I don't make the rules.
Getting into an MLM is like buying a ticket for a train that never arrives, but the conductor keeps promising you it's just around the corner if you can get three more people to buy tickets too.
Your cute.
Overnight factory worker. 20-25$ an hour starting. Day trade after work. Get a job
He's not the sort of person to be able to handle overnight. Considering the insanely high turnover rates for overnight positions, he would be out within 2 weeks. He needs a normal day job.
Dude would get the worst minimum wage overnight Amazon factory job where they treated him like crap, then he'd get injured at work and never go back.
@@devinbartley5768 I used to work at amazon it actually pays not too bad for something not needing experience. I made 21 an hour when I quit last year.
That's cool
He won’t last a week at any job. His attitude is he doesn’t want to work.
“Mentally I think I make more money than I do.”
You and me both, pal 😂
cackled when he said that 😭
😂😂😂😂
Same in my mind I’m making 1 million dollars a minute lol 😂 I wish
LOL Epical phrases in this show
That pause before "do" was amazing comedic timing!! If only he was joking
"To be fair, I've never considered myself average," is probably the mentality that is most responsible for a lot of people ending up pursuing bad things. I think we need to work on removing the stigma associated with being average.
Average is considered boring but the majority of people on this earth live a boring life
Caleb’s quick glance at the camera after that fucking killed meeee
You should rename this show to "Reality Check", because let's face it, cutting through people's delusions is like 50% of the show. The financial problems inevitably follow
Exactly lol
Reminds me a lot of Gordon Ramsey
Gonna go read a book after this one to counterbalance the amount of brain rot I just got from hearing him speak 😭
“Retirement doesn’t seem fun” therefore saving for it doesn’t matter 😭 imma go pick up Jane Austen
Only nerds read. You must be a dweeb, rofl
@maeo316 Jane Austen is out of copyright, so you can have her books for free, otherwise pick up something fun/world-expanding for free from your library, or see if your library has access to ebooks, even easier
@@ellie1689 I actually work at my library lol
To be fair, 😅 it may not help the deterioration rate.
His parents really failed him. They didn’t prepare him at all for adulthood. He lives in 24/7 delulu
I went into the gas station yesterday and got a soda.. In my head: "going inside & getting some b*llshit!". I still got the soda, I'm debt free so it's okay but still.
Keeping urself in check is very smart! That's how you STAY out of debt 😊 hoping to get there soon myself!
Good job man keep yourself in check and stay out of debt. Now its time to start investing.
EDIT: UPDATE! We got married, closed on a house and have a 3 month emergency fund!
@@archeanchaos-s4c $65k saved. Getting married in less than a month, wedding is paid for with cash, we'll get pre-approved and will start seriously looking at houses in Oct. Very excited. Also we're investing 15% of our income between 401k matches and index funds.
I hear Caleb screaming at me everytime I get lazy to pack lunch or want to buy a coffee instead of making it at home 😭
@@ymi0613saaaaaaame! He also screams at me when I feel like buying a non-necessity without at least putting that much into my Roth IRA 😂
Directionless men with no purpose is a huge problem. This dude is putting that problem on full display, unfortunately.
Is worse when they procreate 💀
Once we ran out of frontier that was accessible to the low skilled everything pretty much went to shit.
They always go to Japan
@@ymi0613as a woman, I genuinely pray no fellow woman is stupid enough to see this guy as procreation material. At least in this state oh my good lord he is down badddd
There were tons of directionless men in every era. Spending time at the saloon gambling and drinking and being violent. Times are probably just slightly better now, but not much different.
“If I wanted to get Rich quick I wouldn’t do something for 4 years” bro we’re doing actual work for 45 years to retire okay
Also below average
This is fake money. And you are not getting 50k, you are getting 50k market exposure. This is HUGE diffrence for them.
Even in the site it is called "buying power".
You trade on a simulated account. They're banking on you failing the challenge and paying the fee to try again
@@Thenandagain I was commenting "live" they named the prop is topstep. They have very easy challenges to pass but charge you in the start and every month. They also have terrible payout rules. Thats why the 50k challenge is 50$ (in "normal" prop is 250-500). They earn money mostly from monthly fees, the "live" (which is not rly live) is granted after long long time.
Exactly this. At best he is allowed to trade with his contributions and their $50k of margin for a small fee but they will have it set up so all positions are closed if he loses enough to wipe out his contributions, leaving their cash used for margins intact. It's basically a flat $50k of leverage rather than a multiplier on his account value.
@@soulysoultradesThat makes so much sense now. He isn’t really trading, he’s paying a fee to simulate it. And the company will pay out if he reaches a goal.
I've drained my retirement fund to invest in taquitos so I'm ready to go!
Ur a danger to sweet treats all around the world
In a land of poor financial decisions the man selling taquitos is king
The only that makes a profit during a gold rush is the guy selling the shovels (taquitos)
@@CalebHammer fucking brutal omfg
@@Thenandagain Roth is only level 2 options. He probably wanted to go more risk trading with margin.
“There’s not even 50 jobs out there”
“There’s more than 50 jobs in Lincoln”
“Yes”
Bro is definitely a mod on r/wallstreetbets 😂
r/gooning
@@CalebHammeromg
no he’s not, where is his fedora? lolol
@@CalebHammerwow 69 likes too
So much so. He get's 100% of his business decisions from there. Started an LLC w/o knowing what an LLC did/does
I honestly don't know what sadder the fact that people are truly incompetent in real life or the fact that you seem to have an endless supply of guests where everyone seems to be worse off than the last
💯
Seriously. This particular level of delusion is scary AF…
Even if only .5% of America is dumb like this it's still over a million people lol
So true.
Bro really came on and basically said “I’m an up and coming lottery winner “
He's 24? He looks like a divorced 32 year old dad
That's certainly offensive towards 32 year old divorced dads...lol
lmfao right.. caleb even came for his receding hairline
Damn I thought I looked better than that 😅
I think his frontal lobe developed and wants Caleb to fix his mistakes. Granted he needs more growing up to do..
Or 42
"Its not that bad"
"it could be worse"
"I'll figure it out"
All those dreaded words
Famous last words. The kiss of death, if you will.
You have to appreciate the misplaced optimism of someone who says "I'll figure it out" despite the fact that they haven't figured a single thing out in the past 10 years.
Something Will Turn Up
I'm manifesting positivity
Infinity Stones of excuses 😂
The more I listen to him I think he is a covert narcissist. No accountability, very childish, won’t hold a job, thinks he is above average all while failing at being an adult. Using people for his own gain, claiming victimhood, not listening to advice, and not seeing any reason to change to become successful.
Guy not working says retirement sounds boring
😂💀
HA great point
😂😂 wait
Says “I work fast-food”
Next sentence… “I can’t find a job bc I’m picky”
He used the b word now gets extra work 😂😮😅😂😂😂
"other than the receding hairline"
Dang Caleb you didn't had to do him like that LMFAO
I was scrolling through comments to see if anyone else noticed 😂
"I'm not homeless"- neither are children usually, because someone else is caring for them. But really though, that's a very low bar for adulthood.
Thaaaaaat was a little much
Yeah you can criticize dude’s actions all you want but making remarks about someone’s physical appearance is super trashy and indicates someone with poor character.
Oh, and now he just said “I’m disgusted by your existence”. This is the last video I’m going to watch - all this hyperbolic negativity is a huge turn off. It’s obvious that Caleb is a deeply unhappy and insecure person and he gets some pleasure out of feeling superior to others that are coming to him for help. “Couple jabs here and there?” LOL
Saddddd
Dude needs to apply to do security for a company. Half the time you’re sitting at a screen and not physically demanding. HE DOESNT WANT TO WORK HARD! Let’s be real. He can get a graveyard shift and still do the daytime trading bit too.
No but what if something happened?! 😂 He'd be too confused and flabbergasted to do anything at all. Although he might just cringe force them out of there
Exactly smart idea.
It is alarming that he doesn’t realize $1k isn’t enough to live on AND he doesn’t realize that 24% annual return on $50k is unsustainable and likely unattainable
If there is a way to gain 24% profit consistently then our inflation would just be that number
@@rogerzheng2814 you can with leverage but your simply gambling then
futures contracts come with like 100x leverage. So you lose or make a lot from tiny moves in the market. The 24% annual return is unsustainable if you are buying shares and holding (typically).
Its not hard if you are using 100x leverage, you will almost certainly win or lose a lot more than 24%.
Also TOP Step and other "prop firms" are scams. They say you get 50k trade with but you only have a 2k drawdown. So you are actually paying a few hundred dollars for a small chance at trading their 2k.
They have a bunch of BS rules designed to make you fail. Even if you pass their test you won't be put on a live account they'll bet against you and hope you lose the 2k, if you make some money they'll eat the loss and pay out of pocket to you.
If you consistently make money they will eventually put your orders into the market and copy them (their trades get executed first which messes with your edge).
And if you make a bunch of money they could just decide "you weren't consistent in your trade style" and refuse to pay out and close your account.
Well his rent is 500 and he probably gets food from his aunt so 500 for fun and tada! He's living like a child!
"I don't consider myself average"
Yeah, buddy. You're well below it.
Oh no, is he going to say that?!? Haha!
Don't tell your kids that they're special or exceptional. Tell them that they are hardworking and persistent and then allow them to become exceptional through their own hard work.
@@ericthornberg9377 My mother LITERALLY told us the opposite starting in high school: "Remember, you are not special."
Truly could not believe this came out of the mouth of this damp slice of wonder bread
For real, my mouth dropped when he dropped that line @@nixy0909
"retirement sounds boring" says a dude who watches Netflix for 8+ hours and lives with his aunt.
This is why actual day traders tell women they work for a hedge fund now, daytrader now means unemployed with gambling problem, not as much winning as a normal gambling problem though
clock it. thats exactly it. when guys say they trade i dip. they have ego problems and are delusional. also ur rlly cute
I just told someone this!😂
Yeah it is sad for the very successful day traders as we get a bad rap due to the 99% who claim to be traders and are not. Better to use a different job description when profitable.
@shadesofuv1828 well he day trades daily. So watch out
You learn something new every day 😂
These prop trading firms are absolute scams.
You pay a fee to do "challenges" to get access to a trading account. But for the business model to work and the prop trading firm to pay out... the majority of people doing the challenges have to fail, pay another fee to do the challenge again, fail, repeat.
These firms have tight rules on their accounts, and these rules are part of why many folks fail the challenges.
Good on this caller for "passing", but he's a mark to these guys.
Edit: $8k in failed challenges for only $500 in "profit" so far? Previously did MLMs and then crypto... absolute mark indeed.
“Retirement seems boring” *is basically already retired …*
Retired from his”career in day trading”. He talks about his “career” constantly 🙃🙃
On God, the repulsive mindset of these phonies. In his pea-brain he's some mover and shaker money man who's bored by the concept of retirement cause he can't 'slow down' when in reality he literally does nothing all day long and is veritably less active than a retired senior. The absolute rage I feel from these people who are beyond lazy and disinterested in personal growth, with no life , friends or hobbies and STILL they have this arrogant attitude that they're better than everyone else
So if i get this right, he pays $2,000 to join a challenge with $50,000 bankroll. The system limits his losses and cuts him off if he loses $2,000 so toptrader would lose nothing. If he makes money they keep his money until he can do it over and over again. LMAO what a scam.
Correct they give him 50k on a paper account and he has 2 weeks to make 500$ while following there rules. He paid 50$ to be able to do this. He losses 2k they cut him off and he buys a new account. He reaches the goals they made for him he gets a live account with 50k in buying power from there Top Step takes like 50% of his profits or something like that. Basically they just wrote him a loan with a few extra steps.
My guess is the site gives him a play account with $50k of play money and they aren’t actually doing real trades. This gives me no risk at all and they get to keep the money he puts in if his play account loses money. A pretty easy system to set up nowadays with little to no risk for the site. My guess is most day trading accounts are set up like this.
The 50k is just marketing. Really it's $50 to try a challenge to make 2k fake money before losing 2k in the challenge. But they rachet up the 2k loss after profits at the end of day to increase difficult. Then it's $150 to get the account where you might be able to withdrawal. Then they give you 2k that you could withdraw additional funds if you make money. And most firms like this have you trading virtual money, and they take the risk of your success, because most people fail before taking withdrawal. They add restrictions to withdrawal so you pretty much have to be successful long term to get money out. The really successful people they put on real accounts. It's basically buying 10x leverage on the $200 per account. Futures already has 500x leverage so really it's 5000x leverage effectively.
@@barnabusdoyle4930 My understanding is that you're essentially right - these guys are paying out actual wins with *their own* profits but the users aren't actually trading real money.
It's a model where users pay fees and *might* get them back if their paper trades are good enough.
@@joem7284so he almost lost his account this week
"if i can gamble 50 dollars into 1000 dollars" has to be one the stupidest things I've heard today
I literally said "if I had 1 dollar that turns into $1,000,000 I could live off of that."
Coding boot camps are not it anymore, please get this out of your head Caleb. Most people will not land jobs or stay persistent enough to land a job through a bootcamp, nor do they get viewed the same as people with degrees/experience.
He specifically says that they are resume boosters. He's never said it would guarantee someone a job. If you're in a related field then yes those certifications can make you stand out.
They are equivalent to trade degrees, if you have solid skills required in the job its good as resume padder
As a person that have three degrees trust me a degree doesn’t guarantee a job or even a job that requires a degree or a job that you studied
@@jthedestroytheman1404 no but it’s better than a bootcamp, ultimately it’s up to the person to put in the work. People without degrees that want to get into good paying jobs are fighting an uphill battle.
Your cute. @@elsie_princesa
As someone who went to school with this guy, none of these issues surprise me with who he went to high school with
So, you? 😆
“Im sorry I shouldn’t be insulting you this much”
*2 minutes later*
“You came out of an egg”
😂😂
And he says he can't say whether that's true or not. 😂😂
"milking the teat of your aunt"......positively Shakespearean
So he’s paying a subscription of 165$ to pretend he’s a day trader? Lol
My brother he's paid 165$ a month for 4 months to only come out with 500$, a net loss
I'm 30 minutes in and Caleb still hasn't realized that it's $165 A MONTH. That's how the company is making money. he worded is that it was one time $165
don’t forget about the payments to do “challenges!”
Sooo many people are doing this scam too. I know a couple folks doing this exact same thing (some have actually made money) but it’s a genius mlm created from the covid meme stock hype
@@sk6i75odknot so much that he didn’t realize it but this guy is defensive because he’s realizing he’s an idiot so he’s trying to hide things from Caleb while he’s sifting through his finances
When my son was 18 I had multiple conversations with him where he told me "It could be worse" or "I'm doing better then alot of people." I told him there are always people doing worse then you, if you compare yourself to the lowest common denominator you will never strive to be better. (Side note: Thanks Caleb for always providing the lowest common denominator.) You should never compare yourself to someone else, but if you do, compare yourself to someone more successful and strive to reach them. Its not always about winning the race, but can you catch and pass the guy in front of you.
"It could be worse." - The last refuge of a loser.
>Thanks Caleb for always providing the lowest common denominator
I barely watch this channel anymore because of this reason. Like, why are we still here? To laugh at wayward folks and feel glad that our lives are not as shitty as theirs? This is trashy entertainment masquerading as financial advice.
It's content. He's said multiple times he's not like a Suzie Orman or Dave Ramsey. He provides very basic solutions - cut spending, budget properly, pay off bad debt, have reliable income, etc. This advice gets repetitive so there needs to be something (interesting stories or characters) that keeps people coming back. @duerf5826
Dude isn't a daytrader, he's a full time Netflix watcher.😂
I hope his aunt watches this segment and realizes how badly she's enabling him
"do you know the statistics around day trading?" "I don't" welp, that's about all i needed to know.
If you’re always the smartest person in the room you’re in the wrong rooms. This dudes just never been told he’s not that smart or has never been friends with someone smarter
In this episode, Buster Bluth abandons the security of the banana stand...
There's always money in the banana stand...
I read that in Ron Howard’s narration voice. 😅
Omg💀
Top tier comment 😂
Except in this episode, his plan is to buy the banana stand, and just thinks it will work out.
I think bro lost the rest of his hairline with the market crash 2 days ago ☠
OMG yeah what's this guy doing now lol he knows just enough to be dangerous
Yeah this aged so well
The market Tuesday was what I was thinking also.
@@natedogg1911he didn’t 😬
Was looking for this comment
I have a friend like this. Always optimistic about the newest money scheme. Gets fleeced and moves on to the next.
Thank you for being brave and coming on.
The definition of lazy, lack of ambition, and trying to get rich without hard work.
Bro if my rent was $500 I would have been debt free years ago.
Our freaking property tax a month alone is close to that.
if my rent was $500 id definitely have a house by the end of the year 😂 but i refuse to living with someone ive had plenty of roommates one being my cousin im good on that
Yeah but you are not sharing a room with your nephew.
@@kara8911ours is more than that!
I know try 5 thousand a month for a place you actually want to live
I remember I started to watch your videos way before you have this many subs and I fell in love with this channel. At the beginning at this year I hit the most debt I’ve ever had. I had little over 10k in debt and I put myself in there shoes and it sucked. I felt embarrassed dumb and now after watching for a long time I am now out of debt I fixed my credit and now I have a saving and I just wanna say thanks Caleb because without your tough love I would just continue my bad habits now I live a life with out stress and and I now make better financial decisions ❤❤
Most of these people actually need psycological help not financial help... This dude is beyond rational at this point. The way he sees things as a "solution" is so immature and just plain wrong...
💯
When he said "That's just how I think, how can I change the way I think?" that's how you know he is in deep shit mentally.
Psychologists and therapists should be educated about money issues. When I explained my situation to some, all they could say was "how do you feel when you don't have financial stability". What really helped was not paying for private therapy, finding doctor who takes insurance, calming down and not spending money to feel better. Not looking around what people will say.
Everything started to go well from that point.
He needs help.
@@niebieskimotyl3308I can guide my clients to reflect on their poor spending and educate them on how to seek help from professional financial resources, but giving them any advice related to their finances is just too icky. Definitely doesn’t feel right ethically.
Nah, this kid's gonna have to hit rock bottom in debt and then have to face the real world for ANYTHING to sink in. MLMs, man. smh
Unfortunately I'm pretty sure doing that would make his problem worse, not better.
He's a Get-Rich-Quick addict, hitting rock bottom is just going to make him seek that instant win out even more aggressively.
To smile and/or smirk is a natural reaction for some people when they are embarrassed.
A lot of people bash caleb for “sensationalizing” bad financial decisions but i think there is value in the shock and awe method he uses, to show you that there is a way out of any sized hole
If he just calmly nodded and said 'uh huh' and moved on, would it get to them? If someone is desensitized to bad financial decisions, perhaps sensationalizing them will get through where other messages have not. Their own frame of reference has become no good.
It’d be one thing if he just tore into people’s finances without any other support. But he provides so many other resources as well to get people back on financial track. His “sensationalizing” is one tool of many to help people get a wake up call and better their situation. Sometimes when I want a sweet treat I’d imagine how my finances would look if I was on the show and decide against it. Like for some people we need harsh truths to get it together.
I love how Caleb brings people into reality. While so many people are watching thinking they can make fast money on social media or the arts, they forget they need to get a regular job to support themselves until the dream happens. They forget it takes 10 years of work to be an overnight success.
Every day trader thinks they are the exception. I have a close friend that got into it a few months ago and when I said it was just gambling he said “it’s not gambling if you know what you’re doing”.
I hope he makes it out without losing too much.
It’s gambling without the disclaimer. Hedge funds spend millions trying to beat the market with the smartest people in the world. But yes you and your basement computer are gunna beat the market
@@adamdoucette9887 "with the smartest people in the world." this is so overrated..... This "magic" hedge fund jobs with the "msartest people in the world". I was working in the investment banking, mostly Oxford and Harvard phds, trust me they are normal people with expensive diplomas.
I had an ex who did that. He worked and saved 400k over a period of 10 years. Started day trading and lost 100k.
The determination I exhibited while listening past "I'm a day trader" is impressive.
Easy for you to say your a Model ;).
Sounds like your not the average person :)
At 5:40 Caleb is wondering how the prop-trading firm makes money. It's pretty F'ing obvious. It's a prop trading firm, essentially an old timey bucket shop. The trades are not actually being placed on the market. The $50,000 doesn't even exist. You're betting poker chips within their enclosed system, just like a casino. He has to pay to take a "challenge", then he can only withdraw if he clears a profit threshold. They know only a few will make any profit. Even fewer will clear the threshold. So the relatively low cost of paying out the meagre few can be easily covered by the entry fees of those that don't.
Prop trading firms are also notoriously shady. A lot of them are offshore and unregulated. So not only do you have the real odds against you, you also are not really trading in the public markets, so there's not much to stop the firm from spoofing prices and telling you that the contracts moved against you. Or they just play the old three card monty trick: you put down your money and then they just grab it and run.
Killer explanation
To be fair, I didn't understand that either. I know almost nothing about traders.
I had never heard of prop-trading before, so I was as confused as Caleb was. Thanks for the explanation.
I finally got my husband to watch this show and he was laughing at Caleb the entire time. He said, “he’s a sassy one isn’t he?”
Man, I feel for this guy. I took NuCamp's coding bootcamp in 2022. In fact, my husband and I both quit our EMS jobs and enrolled full-time in a coding bootcamp. Spent 8k for both of us. We both finished in 9 months and really struggled to compete with other applicants that had Computer Science degrees. We both ended up taking jobs outside of coding. I did learn a little about a lot of different languages, but not nearly enough to break into a job role. I ended up going to work as a drone pilot.
There is no way this guy doesn't end up financial ruin.
On the off chance that the guest reads this--I think what he really needs is to undo all of the damage caused to his worldview by MLMs. MLMs are essentially cults and they're able to get people by selling a certain type of dream (usually if you work hard enough or if you are special enough, you will get rich quickly). He even made a comment about being special and is still participating in get rich quick schemes showing that he's still drunk on the Koolaid. This guy needs to work on deprograming himself because he's still believing in that false dream and it's hurting him. Anti MLM content is a good place to start--theres tons on youtube. There's also some great documentaries on MLMs (specifically on herba life and Lula Roe) as well as an episode of John Oliver
The only thing with lower odds of success than day trading is MLMing.
Always Marco has great anti-MLM content here on UA-cam
Their entire model is convincing low achievers that they are born high achievers.
@@Archivist82I concur this one. Down to earth, straight to the point. Just what he needs.
Congrats on the Job Ethan! You already are on the way up and I hope you know all of us are rooting for you! Even if you have setbacks don't let the fact you messed up before allow you to think you need or its okay to mess up again. Keep making the right decisions and keep moving up!
"Go to the bathroom before you get tased." That was the best advice given during this episode!
This dude is a Reddit moderator guaranteed
This guy is an average Reddit user
Rapidly going through new interests/hobbies, having no grasp on abstract concepts like time or money, quitting something because of distractions, fidgeting and bouncing the knees - I think he could benefit from seeing a psychologist and maybe looking into getting an ADHD diagnosis.
I think the military would be a great option for this guy. Whether or not he decided to stay in it would at least give him some direction and set him up for a career.
He does not need to add PTSD to what appears to be ADHD-HI.
@@pipersecretp3do you genuinely think he’d go into a combat MOS
@@pipersecretp3 military ≠ ptsd. There is a lot going on in the military, tons of jobs, plenty of people never see ANY combat. Also this man probably already claims PTSD from never having a gf, or from stubbing his toe when he was ten 😂 at least basic would would beat some work ethic into him.
his commanding officer would have a seizure 😵🤯
@@jennyhaslayer1396 He wouldn't make it through basic. He would just quit.
"Desperate Incel Joins Pyramid Schemes To Get Laid" Who comes up with these names? lmfao
We're artists
a genius lol
@@CalebHammerbeautiful minds
watch it’ll change in the next hour
Was expecting Amway or the like
"I think there's a lesson to learn in every situation."
"But you're not learning those lessons."
Took out of retirement to day trade...buckle up kids, we going to see a loser in a few.
I took 40k out of mine for debt and a house down payment...but I still have 240k in it and im 34.
And doesn't even day trade with his own money...
That 10k loan for a coding bootcamp at 15% that he wasn't even assed to do might be the craziest thing.
Paying 10k for a coding bootcamp is a scam on its own. You can get the same exact training and a degree for far less at a community college.
@@halofornoobs93people want shortcuts to everything, and obviously he didn’t do any research.
That too for HTML. Now a days everything is free on UA-cam or pretty cheap on platforms like udemy
@@gurue6815 They arent even really good jobs for just HTML anymore. As a web dev you at minium need to know javascript, html, css, and some python, php or java. To be competitive know you will also likely need to know some lower level stuff like c++ or database type stuff too. HTML is something easy to learn on top of everything else as a little edge
The way my jaw dropped when he said "i swore off MLMs... And then i got into another one a year later" 💀😭
Got here in the 4 min of posting mark! Love the show been watching for a long time and finally getting my shit together! In stupid and unnecessary $60k debt and gladly making steps towards bringing it down! Making sandwiches for lunch everyday and that already has helped me a bunch!!!
WOOOOOOOOOO
Here me out. Combine siracha, mayo, black pepper and lemon. Mix and add to sandwich or use it as dipping sauce 😋
I want taquitos back, I am confused by the term "going inside and getting some BS".
And it doesn't have the same ring to it.
I have a brother like this. He is 67 on SS and VA health care. We gave him the money to buy a house about 6 years ago. He has to sell it or he will lose it. He lost all his money day trading. He also gambles and does not win. He always looks for the get rich quick scene. The family has determined not to bail him out anymore. He is currently doing odd jobs until his house sells. Hopefully my one sister who is now on a fixed income will not bail him out. He works her continually.