Took out a loan to transition to full-time trading. 24 years old.

[NickBk]

i believe that this is a fantasy island story.you are just making it up for some reason-WHY ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

That of course was my first comment. I then answered on the assumption it wasn't.

 

[itspossible]

the whole story is lies nick i can smell it

 

[Mr Sept]

the whole story is lies nick i can smell it

Nods in agreement.

 

[EnlightenedJoe]

the whole story is lies nick i can smell it

But does it really matter ? Even forum runners need to make a living, don't you know ?

 

[Sonicscooter]

He's hardly a baby and you claim to be still young but act way older. Not a compliment.
Your analogy is in fact not one. Nothing similar here. If he was borrowing this money to start up a business today you probably would say the same.
Go back under your table before the next earthquake hits!

Amazing how many people on here have opinions strangely without following the posters posts....is reading that difficult....the bloke is making all the usual bog standard mistakes out of the gate....PLUS on borrowed money, and you say......balls out lads, its good for a laff init......Are you for real or a wind up in yourself....

 

[NickBk]

Live and let live man.

 

[itspossible]

But does it really matter ? Even forum runners need to make a living, don't you know ?

enjoy the fantasy mate

 

[wabu27]

Day 7:
Beginning of day: $37628.28
End of day: $40979.67
P/L: $3,351.39; +8.91%

WOOT WOOT! DUST all day and only DUST. Small overnight position in DUST that I was hoping for a higher start was just flat. W/e really because it's hard for DUST to disappoint even more. Traded more with DUST earlier in the day and made some gains. Traded more and lost those gains. GDX was screaming to go down all day so I added/sold positions carefully trying to time that. Ended up going negative for the day, maybe 1-2%. GDX was seriously screaming at me that it wanted to drop but it just did not have much movement most of the day. Small, small changes that wasn't really significant. Close to 12pm PDT it is showing signs of the big drop. 11:56 am PDT I'm considering whether I should sell at 1.85 or put on a trailing stop because I had a meeting at 12. Did a limit order at 1.85 and the bids always just stop at 1.84. OMG time is ticking and I gotta go into the conference room. Watching GOLD alongside GDX graphs and omg it is screaming just screaming it wants to go down but it just wont. No idea why it was putting up such a fight. Canceled my limit order and put on a trailing stop order for 2%. Came back from meeting like 30 minutes later and it was up just as I've pictured in my head. Super happy today, things worked out just as I'd planned.
Giving myself 3+ stars for today's trading. Everything worked out well. Disappointed in my position sizes that made me lose earlier gains I made today, but giving props for the patience in staying in DUST. Can't give myself 4 stars because I tried to sell my positions at 1.85, but just by pure luck the order did not get filled. So lucky, things just worked out for me today. After the huge loss yesterday I was pretty bummed out, sad to see my week's gain disappear in a day. Yet today things played out beautifully and made it back. Note to self: play it safe and play defense. No more big drops. Wait the market out. Don't get overconfident. Don't get cocky.

 

[wabu27]

Yea it really does sound pretty dumb doing what I'm doing. But I would still go through with this even if I was given a chance to go back 3 weeks. @NickBk Thanks Nick. Surprised to see a supporter and it helps.
Everyone else: was expecting lot of negative energy so not surprised. Funny thing is, I think people's comments might actually be helping me trade. When I make trades I'm more careful not to be careless and on my mind in each trade I'm just like "might not gain alot, but lets not lose money. I don't want to get chastised today. Gotta show positive gains today." LOL

 

[wabu27]

Oh that's PST not PDT in my day 7 post.

 

[Dowser]

Best of luck Wabu, I'm doing something similar but I've quit work and am using my own money. I'm 39 and i wish I'd had the opportunity earlier in life. My philosophy is that you can only really self-actualize if you're outside of your comfort zone. The further, the better. So you are well and truly living off your wits and testing and utilizing every ounce of your being. If it feels right, do it, as they say. You probably will only get one opportunity in this life - go for it. Meditation helps me when I've had a bad day.

All the best

Chris

 

[Sonicscooter]

Yea it really does sound pretty dumb doing what I'm doing. But I would still go through with this even if I was given a chance to go back 3 weeks. @NickBk Thanks Nick. Surprised to see a supporter and it helps.
Everyone else: was expecting lot of negative energy so not surprised. Funny thing is, I think people's comments might actually be helping me trade. When I make trades I'm more careful not to be careless and on my mind in each trade I'm just like "might not gain alot, but lets not lose money. I don't want to get chastised today. Gotta show positive gains today." LOL

I think Nick was being sarcastic.

 

[ffsear]

I think the downside is just not that huge, 25k and I am assuming $ so let him have a go I say.

What are you on? 25k Downside and thats it? No! He'll still owe 25K at 25% APR if he loses it all.

The downside is potentially massive. He's not even told us the length of the loan, at 25% APR im guessing its 5+ years... a potential $30k+ owed on top of the original loan.

 

[Sonicscooter]

What are you on? 25k Downside and thats it? No! He'll still owe 25K at 25% APR if he loses it all.

The downside is potentially massive. He's not even told us the length of the loan, at 25% APR im guessing its 5+ years... a potential $30k+ owed on top of the original loan.

This all thread is madder than a mad thing doing mad things for a laugh.....:cheesy:

 

[JackRab]

What are you on? 25k Downside and thats it? No! He'll still owe 25K at 25% APR if he loses it all.

The downside is potentially massive. He's not even told us the length of the loan, at 25% APR im guessing its 5+ years... a potential $30k+ owed on top of the original loan.

Exactly. It doesn't sound like a lot, 25k. But if you don't have any alternatives... it will add up.
If he loses it all... I doubt he's going to get more credit, because he owes 25k+ already, with no job... If then something bad happens in another corner, he's bankrupt with a nice 'no credit' marker behind his name and ****ed for another 10-15 years.

I'm not saying never take any risks in life... but he's still young and can get other ways to get a bit ahead. Everyone here should know trading isn't the easiest/safest way to make money. Also realize that whatever you 'learn' is basically worthless to any other industry. So if you look at 25k as learning fee... that's a high price to pay if you fall short and are forced to look at going back at a 'normal' job.

But anyway, have fun doing whatever you're doing. Just remember to build up your base instead of using it as an ATM.

 

[NickBk]

What are you on? 25k Downside and thats it? No! He'll still owe 25K at 25% APR if he loses it all.

The downside is potentially massive. He's not even told us the length of the loan, at 25% APR im guessing its 5+ years... a potential $30k+ owed on top of the original loan.

Missing some attention, or just pi55ed someone wants more than £10 a day from life.

25k is 25k if he can't pay them it doesn't seem like his legs will get broken.

Not everyone is of the view that 25k is ''potentially massive''. On a tenner a day I guess it might never get paid back.

What's wrong not on track for another £118 month?

 

[Sonicscooter]

Missing some attention, or just pi55ed someone wants more than £10 a day from life.

25k is 25k if he can't pay them it doesn't seem like his legs will get broken.

Not everyone is of the view that 25k is ''potentially massive''. On a tenner a day I guess it might never get paid back.

What's wrong not on track for another £118 month?

Why come out with null comments, the bloke is asking for advice, so flippant remarks equal what ?

 

[NickBk]

Why come out with null comments, the bloke is asking for advice, so flippant remarks equal what ?

Keep up my comments were for the £3.78 betfair gambler not the op.

I like the op and support him, who are the others to put their own negativity or poor trading experiences on people. Some people do make money trading, strange as that may be to many here. Why can't the op be one of them?

 

[Sonicscooter]

Keep up my comments were for the £3.78 betfair gambler not the op.

I like the op and support him, who are the others to put their own negativity or poor trading experiences on people. Some people do make money trading, strange as that may be to many here. Why can't the op be one of them?

Ok, no probs, i have read your comment from the wrong angle.........

 

[tar]

Lol guys , the guy topped his account so he can PDT -daytrade - stocks , in day 6 he lost 9% = no money management . He concentrates on trading DUST its a 3x gold miners etf that will make you go bust !

Also i dont understand your salary is around 55k , so what exactly you are looking to achieve from trading a 40k account built by a loan ? This 1% per day goal is just a dream it doesnt work like that in real life .

STOP