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

NickBk

Experienced member
1,915 498
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.
 

Sonicscooter

Experienced member
1,809 350
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....:rolleyes:
 

wabu27

Active member
111 17
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

Active member
111 17
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
 
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wabu27

Active member
111 17
Oh that's PST not PDT in my day 7 post.
 

cbrads

Experienced member
1,164 255
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

Experienced member
1,809 350
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

Experienced member
1,923 351
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.
 
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Sonicscooter

Experienced member
1,809 350
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

Member
50 5
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.