Why Most Traders Suck

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Why Most Traders Suck

Most day traders are really bad and should consider strategies to automate their investments, says Sebastian Ganjali, head of strategy at trading platform Kryll, in a new episode of the Early Bird podcast.

Lacking: Ganjali says that traders need to understand risk management, how to form profitable trading strategies, and have good discipline in order to be successful.

Numbers: 70% to 90% of day traders lose money, according to Ganjali.

Current: In the face of a tough market this year, Ganjali said that veteran traders will perform better than novice traders because they’ve been through downturns before.

Final Thoughts: What advice does Ganjali offer new day traders? Find out by listening to a new episode of the Early Bird podcast.


Notable Earnings Today: Nike (NYSE: NKE), Concentrix (Nasdaq: CNXC), Jefferies Financial Group (NYSE: JEF), Trip.com Group (Nasdaq: TCOM), Dynagas LNG Partners (NYSE: DLNG), Burcon NutraScience (Nasdaq: BRCN), Cinedigm (Nasdaq: CIDM).

Notable IPOs Today: Yotta Acquisition Corporation Common Stock (Nasdaq: YOTA), Cartesian Growth Corporation II Class A Ordinary Shares (Nasdaq: RENE).

Notable Equity Crowdfunding Campaigns Ending Today: Flying Ship Technologies (StartEngine), Dirt Burger (MainVest).

Notable Economic Events Today: Core Durable Goods Orders (8:30 a.m. ET), Pending Home Sales (10:00 a.m. ET).

Goldman Sachs Eyes Celsius Network Assets

Photo by Kanchanara / Unsplash

Goldman Sachs (NYSE: GS) is trying to raise $2 billion from investors in order to acquire distressed assets from cryptocurrency lender Celsius Network, according to a report on Friday.

Details: According to the report from CoinDesk, Goldman Sachs is seeking to buy the assets from Celsius, such as crypto, at a discount and reached out to crypto funds to get help.

Background: It’s been a rough few weeks for Celsius. The crypto lender froze withdrawals in mid-June. The company is also preparing for a potential bankruptcy, according to The Wall Street Journal.

Bigger Picture: Most crypto prices stabilized over the weekend. In the past few months, most prices have plummeted.

Final Thoughts: Crypto’s recent fall has been well-documented. Goldman Sachs is obviously trying to grab some of Celsius’ assets if there is a bankruptcy. Goldman Sachs’ stock is down 23% this year, so the big bank wants to turn its year around.

JPMorgan Slips, Layoffs Off Hundreds

As one of the leading financial institutions on Wall Street, JPMorgan Chase (NYSE: JPM) has suffered like the other banking stocks this year.

Numbers: Shares of JPMorgan are down 27% this year. The stock went up 24% the previous year.

Recent Development: JPMorgan recently laid off hundreds of employees from its home-lending business, which shows that the housing sector can be problematic right now.

Final Thoughts: JPMorgan reports earnings on July 14.

Trends to Watch

Oh Ship: Cruise Lines Can’t Duck Their Debt (The Wall Street Journal)

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