He wants to "play" the stock market.
The past couple of days, he's been telling me he's "read up" on the world of finance. He thinks he's ready to trade stocks and currencies on some trading app. This guy is prepared to use all his savings, around 6k. He works retail. He thinks it's some get rich quick thing.
The idiot won't listen to me, he's adamant he knows what he's doing. I asked him what resources he's been using and he mentioned some vague YouTube videos. He's been at it for 2 months!!! (Learning that is). I have moderate understanding of some aspects of finance (not so much in trading). And playing the stock market has never crossed my mind.
He's not interested in investing, this guy has been throwing around buzzwords like "high-frequency trading". I'm not even joking.
I've been telling him he's making a huge mistake, dude has wax in his ears. This is a really good friend of mine. If it was someone else, I would've told the that it's a bad idea once and left it at that. But I can't bear to see this guy lose his money.
What do I do here?
The past couple of days, he's been telling me he's "read up" on the world of finance. He thinks he's ready to trade stocks and currencies on some trading app. This guy is prepared to use all his savings, around 6k. He works retail. He thinks it's some get rich quick thing.
The idiot won't listen to me, he's adamant he knows what he's doing. I asked him what resources he's been using and he mentioned some vague YouTube videos. He's been at it for 2 months!!! (Learning that is). I have moderate understanding of some aspects of finance (not so much in trading). And playing the stock market has never crossed my mind.
He's not interested in investing, this guy has been throwing around buzzwords like "high-frequency trading". I'm not even joking.
I've been telling him he's making a huge mistake, dude has wax in his ears. This is a really good friend of mine. If it was someone else, I would've told the that it's a bad idea once and left it at that. But I can't bear to see this guy lose his money.
What do I do here?