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  1. W

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

    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...
  2. W

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

    Just did a calculation and my monthly recurring expenses total $3000. That's 8% from my current balance. Every month, just to have buy something such as food, I need to make more than a 8% return. Anything short of that will be trouble. Negative months will be trouble. I think I just truly...
  3. W

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

    Day 6: Beginning of day: $41472.74 End of day: $37628.28 P/L: ($3,844.46); -9.27% Hmmm where to begin... the overnight position in DUST turned out to be horrible. Did not expect $ to drop that much overnight and for gold to move up that much overnight... was pretty bummed so tried to force some...
  4. W

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

    @Iwilldoit Yea ended up just replacing 2 tires. Going to just leave the rest in my bank cause I got my first interest payment on my loans coming up this month. Haha yea too tight of a budget @newwurldmn no i just give everything to a tax guy and he takes care of it. Yea, that might be the...
  5. W

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

    Day 5: Beginning of day: $41585.77 End of day: $41472.74 P/L: ($113.03); -0.27% Horrible trading day today. Started the day off very well with DUST but gave out all my gains throughout the day. Poked around in AAPL, NFLX, and DUST. Trading just didn't go for me today. Multiple times I would...
  6. W

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

    Thanks Georgii for your words. You are right, and I agree. It might not work out the way I've hoped, but at least I'll know. And I'm not too happy taking money out either, but situation called for it. Prop firm thing is a good idea, but I need my current job as a backup. Hope you are wishing me...
  7. W

    how much capital are they giving you?

    how much capital are they giving you?
  8. W

    I tried trading for THT before. From what I remember they start you off with really small...

    I tried trading for THT before. From what I remember they start you off with really small positions and have really small daily loss limits
  9. W

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

    Day 4: Beginning of day: $41342.15 End of day: $42085.77 P/L: $743.62; +1.80% Weekly Gain: +15.74% YTD Gain: +15.74% Not a bad day today. Played with FCX right from the start and while I thought it would bounce higher, I saw a possibility of dropping a lot lower so I exited but it ended up...
  10. W

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

    Day 3: Beginning of day: $39109.89 End of day: $43342.15 P/L: $4232.26; +10.82% Wow what a crazy day. DUST still being good to me. Wasn't seeing much other action in beginning or any good entry points but thought I could make something out of WDC so dipped my foot into that. I'm not sure if I...
  11. W

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

    Day 2: Beginning of day: $37815.94 End of day: $39109.89 P/L: $1293.95; +3.42% Woke up late today.. and saw airline stocks up. Was watching airline stocks this week and I couldn't go along for the ride but not disappointed. Made money on DUST today. Made money on VSX but a little disappointed...
  12. W

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

    Hey that sounds like a much safer idea. Do you have any suggestions on the firms? For now, I gotta maintain my current job to pay for recurring expenses but I might transition out of this loan thing to what you suggest in the future.
  13. W

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

    Would it be too personal to ask how big you trade (account size) and approximate returns you made/make throughout your trading life or at least yearly? I think a month is enough. Even the best traders fail and it's an ongoing fight against yourself. Having your game down and playing it...
  14. W

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

    Beginning of day: $38090.89 End of day: $37815.94 P/L: ($274.95); -0.72% Pretty boring market today. Very nervous to be daytrading again. Its been 5 years and 1 month. Was able to enter and exit as I felt the need to without giving into emotions so overall satisfied with the start. Sucks to...
  15. W

    First year full time trader - Estimated Tax underpayment

    If you day trade for a career, you have to pay taxes quarterly?? I am considering quitting my finance job and transition to a day-trader from my home. How come day traders have to pay taxes every quarter and get a penalty if they dont?
  16. W

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

    LOL yea that was pretty mean, im sorry. I thought my response was pretty funny though. I just don't like answering questions that ask about myself because 1) its my personality. I don't like to reveal things about myself; 2) My responses might get judged and it might lead to arguments, which I...
  17. W

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

    These kinds of questions: questions I'm not interested in. Why: it might lead to more questions I'm not interested in.
  18. W

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

    I would normally skip these kinds of questions, but because I have time to kill before I get off work and my heart is pounding just thinking about next week, I will respond hoping to get more feedback from others. Please see below: What makes you think you are good at daytrading, btw? - On...
  19. W

    What are your favourite investing rules?!

    The moment you hope, get out and think afterwards.
  20. W

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

    In case (slight chance?) there are people wondering how I am doing... when I put in my loan into my brokerage account, I had a total of $19,700. From there, I went to the low point of $16,750 and to the high point of $21,210, and now am back down to $17,400. Extremely volatile and...
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