Summary of "I’m 18 and Make $15,000 a Week Day Trading" – The Ramsey Show Highlights

Release Date: March 3, 2025 Host: Ramsey Network Episode Focus: An 18-year-old funded day trader's financial journey and management.

1. Introduction to the Guest: Amir's Day Trading Success

The episode features Amir, an 18-year-old funded day trader who has recently achieved significant financial success. Amir shares his unique position of making substantial weekly earnings through day trading, seeking guidance on managing his newfound wealth responsibly.

Notable Quote:

• Amir [00:06]: "I'm 18 years old and I'm actually, 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, you know, managing it correctly and making responsible choices."

2. Understanding Amir's Earnings and Trading Setup

Amir reveals that he averages approximately $15,000 weekly from day trading over the past five months, with a peak earning of $25,000 in the most recent week. He explains his role as a funded trader, where a firm provides the capital for him to trade after a $150 evaluation fee. Instead of investing his own money, Amir operates under a 90/10 profit split, retaining 90% of his earnings.

Notable Quotes:

• Amir [00:29]: "I've been averaging about 15,000 a week for the past five months."
• Amir [01:11]: "It's a 90/10 split. I get 90%, then they get 10."

3. Hosts' Perspectives on Day Trading and Amir's Strategy

Jade expresses skepticism about Amir's success, highlighting the low statistical probability of sustained profitability in day trading. She emphasizes that Amir's current success may be attributed to sheer luck, given that the majority of day traders eventually lose money.

Notable Quotes:

• Jade [01:16]: "Lucky, wild, lucky, ducky... a lot of the statistics show that day traders... statistically, it's less."
• George [01:29]: "97% of day traders who persisted for more than 300 days lost money."

George further compares Amir's trading success to winning in Las Vegas, suggesting that while Amir is fortunate to profit, the sustainability of his earnings is questionable. He urges Amir to consider the long-term implications of his financial choices.

Notable Quote:

• George [01:29]: "If this was Vegas, we'd all be around you going, dude, cash in the chips and walk away."

4. Financial Management and Investment Advice

Amir discusses his financial management, mentioning that most of his earnings are saved in his bank account with minimal living expenses ($1,500 monthly). He contemplates purchasing a 2014 Mercedes CLS for $28,000 and seeks validation on whether this is a responsible financial decision.

Jade advises treating his earnings as a windfall, recommending against inflating his lifestyle prematurely. She suggests parking the money in index funds or a high-yield savings account, depending on his future housing plans.

Notable Quotes:

• Amir [02:03]: "I've got most of it sitting in my bank account... planning on buying a nice car."
• Jade [02:42]: "If you do buy a vehicle because you need one, just buy something that's modest."

George concurs with Jade, highlighting the importance of not tying more than half of one's income to depreciating assets like vehicles. He warns against the opportunity cost of purchasing a car that may lose value quickly.

Notable Quotes:

• George [04:50]: "You don't want more than half of your income tied up in things with wheels and motors."
• Jade [05:24]: "This car to me doesn't sound super inflated... be really smart with it and you're good to go."

5. Future Plans and Educational Aspirations

When prompted about his long-term goals beyond day trading, Amir reveals his ambition to pursue a career in medicine. He is currently studying biochemistry with the dream of becoming a doctor. George speculates that Amir's earnings might be strategically used to fund his medical education, positioning him to graduate debt-free—a significant achievement compared to his peers who may incur substantial student loans.

Notable Quotes:

• Amir [06:00]: "I'm actually currently in college studying biochemistry. My dream is to become a doctor one day."
• George [06:15]: "That would cover all four years... set yourself up for a debt-free future."

Jade supports this vision, acknowledging Amir's fortunate position and encouraging him to continue managing his finances wisely to support his educational goals.

Notable Quote:

• Jade [06:19]: "That money sounds like med school... be really smart with it and you're good to go."

6. Cautionary Notes on Day Trading and Sustainable Wealth Building

Towards the end of the episode, George and Jade caution other listeners against emulating Amir's path in day trading due to its high-risk nature and low probability of long-term success. They reference stories of individuals who have lost substantial amounts through similar trading activities, emphasizing the importance of sustainable wealth-building practices.

Notable Quotes:

• George [07:19]: "Don't look at a mirror and go, I'm going to be the next Amir. No, you're likely to be the next person to call in broke."
• George [07:24]: "Sounds very sketchy... people losing 30 grand, 150 grand, even 300 grand by day trading."

7. Conclusion: Encouraging Responsible Financial Planning

The hosts conclude by reiterating the significance of responsible financial management and planning for a secure future. They commend Amir for his current success while urging him—and listeners—to prioritize long-term financial stability over short-term gains.

Final Thoughts:

• George [07:39]: "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 debt-free doctor."
• Jade [07:44]: "Be really smart with it and you're good to go."

Key Takeaways:

• Amir's Success: An 18-year-old funded day trader earning up to $25,000 weekly.
• Risk Awareness: Day trading is highly risky with a low probability of sustained success.
• Financial Advice: Save earnings, invest wisely, avoid depreciating assets, and plan for long-term goals.
• Future Planning: Utilizing current earnings to fund medical education for a debt-free future.
• Caution to Listeners: Encouragement to pursue sustainable wealth-building methods over high-risk trading.

This episode serves as both a spotlight on an exceptional young entrepreneur's financial journey and a cautionary tale about the uncertainties of day trading. It underscores the importance of prudent financial planning and the value of setting long-term educational and career goals.