Young and in an excellent position

[kpbiney]

Historically, high achievers have always started young, if you dedicate your self to trade for a living, i would advice you to learn as much as you can, in other words, become a sponge, absorb as much as you can from all sources. Prepare yourself for some intense preparation to begin you trading career, it will payoff in the future.:clap:




QUOTE=EmergentFungus;490526]Well I've read around this forum and I realise I could be among the youngest here. I'd like advice frpom the seniors here who have experience and what they may do if they were in my shoes.

Right, here's the situation. I'm 19 and I stand in a very priviledged position. I've been trading for 4 months now, going long on positions on the UK stock market. To start I inevitably made a loss but in the last month I've been holding positions short for just a few days and in in some cases even day trading and have made profit. I've got £5k to hand.

I've got another £8k bond maturing in December and another £20k next year. My mum is also passing down £60k next year.

Most kids my age would blow the lot but I've been brought up to save.

I'm a bartender so I work nights and am free to trade all day. Its not a career I want to persue, nor was university ever for me.

Thoughts and opinions much appreciated.[/QUOTE]

 

[Skill Leverage]

good advice, but stick it all on RED not Black !!

:whistling

Mate, don't you listen to Wesley Snipes? ALWAYS bet on black.

 

[arabianights]

stick it all on green and become a millionaire

 

[TigerTrader]

EmergentFungus:

I am in exactly the same position as you. I am 19 years old, currently on a gap year before going to University just trading. I am going to be studying economics at a Red Brick UNI but I was toying with the idea of not going at all as reading some of the papers nowadays, graduates are a dozen a piece and so a lot of them are not getting jobs. Then again it is something to fall back on.
Anyhow going to NYC in summer before UNI to a prop trading firm to get some experience. I currently trade from home. I don't have as much capital but I'm working in a sales job just to get some capital and pay my expenses. I would love to start my own fund one day!
Any thoughts/comments would be appreciated!

 

[EmergentFungus]

Ibiza was wicked fun. I had to do it to get it out of my system.

I've lived all over the world in recent years...Norway was my favourite. Spend 5 years there with me dads job. My world view is already quite broad!

Asia is on my list of palces to visit.

 

[EmergentFungus]

Alrights lads.

Since I started taking this seriously as a career in November, I have had a 23% return and feel most pleased with myself. That's from about 35K. Yes, I cashed in all bonds and ISAS I had. I still have another 5K from mum coming within the month, and about 60k in September.

I have decided to buy an apartment in October-ish most likely with a mortage so I can max out my trading account and make a good return. I'll pay the mortage until my mum sells up her house, downsizes and passes down another large sum in about 2 years.

Fecking best job I've had. I've really got the hang of it now.

 

[EmergentFungus]

I've also just read back over the previous 4 pages... Some questions to answer.

I use TD Waterhouse. I trade with own equity (pretty good when prices head up!) but have recently got a spreadbetting/CFD account and have burnt £800 in 2 weeks. Not good. Spreadbetting rolling spreads brings out the gambler in everyone!!

My favourite stocks in the last 6 months have been BLT, PSN, BRBY and the odd bit of LLOY and RBS for ****s and giggles.

I use DMI, relative strength, stochastic oscilator and candlesticks to decide on a buy point, along with the current news!

I've found that swing trading is my style, graphs and all that stuff. You know the drill.

I can do £500 in a week no problems. Often more like £800. My living expenses per week are a mere £120.

I am planning a holiday over the summer, on my own. Badly want to do Ibiza again!

Good trading to you all.

 

[arabianights]

Fecking best job I've had. I've really got the hang of it now.

Even if true please assume it isn't - sensible precaution