{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: STRESS/ RISKS OF DAY-TRADING (2)' data-url='/boclips/videos/5c54baead8eafeecae121196' data-video-url='/boclips/videos/5c54baead8eafeecae121196' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: STRESS/ RISKS OF DAY-TRADING (2)\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatU-S state regulators are warning day-traders of what they say are the huge risks and high stress involved with day-trading. The regulators have just completed a seven month investigation of the day-trading industry and they've...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eU-S state regulators are warning day-traders of what they say are the huge risks and high stress involved with day-trading. \u003cbr/\u003eThe regulators have just completed a seven month investigation of the day-trading industry and they've accused several firms of misleading their investor-customers with 'get-rich quick' promises. \u003cbr/\u003eThe firms are also accused of failing to supervise the operations of their day-traders and of making improper loans to keep trading customers afloat. \u003cbr/\u003eThe report published on Monday by the North American Securities Administrators Association comes just 11 days after an American day trader went on a shooting frenzy in Atlanta. \u003cbr/\u003eThe report which has not been flattering of day-trading firms, has accused them of gross dishonesty towards their day-trading clients.\u003cbr/\u003eIt's thought that the stress of day-trading was one of the reasons that Mark Barton, an Atlanta day-trader, killed nine people at two day-trading firms where he'd worked and lost thousands of dollars.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"We have been warning investors about the risk of day trading for months - beginning with a press release last Thanksgiving following several cases bought by Massachusetts. It's unfortunate that it sometimes takes a tragedy like what happened in Atlanta to focus national attention on an issue or a problem. We believe there are problems associated with some firms in the day trading industry, not the least of which is the hype about how one can get rich quick.\"\u003cbr/\u003eSUPER CAPTION: Peter Hildreth, President, North American Securities Administrators Association\u003cbr/\u003eThe report catalogued problems with the day-trading industry that included misleading marketing, lax supervision, and dubious loan schemes.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Well I won't refute the findings, I feel very confident that there is a wide disparity of results from one day-trading firm to the next.  And while there are firms out there that do have troubles, there are also some excellent firms out there with excellent reputations that do promote the business properly and do get very good results with their customers.\"\u003cbr/\u003eSUPER CAPTION: Marc Friedfertig, CEO Broadway Trading LLC\u003cbr/\u003eThe report says there are now 62 day trading firms operating 287 offices around the United States, each catering for up to five thousand traders.\u003cbr/\u003eThe firms provide their trader-customers with computers and high-speed links to trading networks and charge commissions for each trade.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Our problem, our concerns are with day-trading firms that are not being honest with their customers about the risks; firms that play up the up side and down play the downside.  Firms that essentially say 'hey come on down, we'll sell you a training course for a couple of thousand dollars and you can sit in front of our computers and get rich'. This is hucksterism. The odds are you won't get rich, the odds are you will loose money.\"   \u003cbr/\u003eSUPER CAPTION: Peter Hildreth, President, North American Securities Administrators Association\u003cbr/\u003eDay-traders ride the tiniest ups and downs of the stock markets, squeezing profits by buying and selling shares rapidly. \u003cbr/\u003eThousands of dollars of their own money are on the line, requiring fast thinking and strong nerves.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"They implied, I think, that seventy seven percent of customers lose money and most of them lose all their money and I just think that is completely absurd.  If customers are going into day trading firms and losing all their money it is because they're not going out and developing an understanding of the business. At Broadway Trading we recommend an approach where customers trade one hundred shares at a time, they avoid the high fliers and they don't increase that risk level until they are getting consistent results and in fact we did a little study on our own and we look at customers that were losing money and, while most of our customers make money, the ones that lost money - seventy per cent lost less than ten thousand dollars.\"\u003cbr/\u003eSUPER CAPTION: Marc Friedfertig, CEO Broadway Trading LLC\u003cbr/\u003eIn their report, the regulators urged the day-trading industry to screen potential investors closely and ensure they fully disclose the risks of the practice.\u003cbr/\u003eThe regulators say if those conditions aren't met, day-trading firms could soon be placed under the strict guidelines of Wall Street.\u003cbr/\u003eALSORAN ON: 0300-0330 Europe Early (10/08/99)    \u003cbr/\u003eWashington D.C \u0026amp; New York, USA, 9 August 1999 \u0026amp; File \u003cbr/\u003eWashington, DC - 9 August\u003cbr/\u003e1. Wide view of news conference\u003cbr/\u003e2. Cutaway of reporters\u003cbr/\u003e3. SOUNDBITE: (English) Peter Hildreth, President, North American Securities Administrators Association \u003cbr/\u003e4. Cutaway reporters\u003cbr/\u003eNew York - 9 August \u003cbr/\u003e5.  SOUNDBITE: (English) Marc Friedfertig, CEO Broadway Trading LLC\u003cbr/\u003eNew York - Recent\u003cbr/\u003e6. Mid view of trading room\u003cbr/\u003e7. Pull back view from sign\u003cbr/\u003e8. Pull back view of traders at terminals\u003cbr/\u003eWashington, DC - 9 August\u003cbr/\u003e9.  SOUNDBITE: (English) Peter Hildreth, President, North American Securities Administrators Association\u003cbr/\u003eNew York - Recent \u003cbr/\u003e10. Mid view of trading room\u003cbr/\u003e11. Close-up trader\u003cbr/\u003eNew York - 9 August \u003cbr/\u003e12.  SOUNDBITE: (English)  Marc Friedfertig, CEO Broadway Trading LLC\u003cbr/\u003eWashington, DC - 30 July \u003cbr/\u003e13. 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1999\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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