How did you get your trading capital?

Quote from Hardo:

I don't reccommend doing this but this is what I did:

About few years ago before the credit crunch and financial meltdown I had about 4 credit cards with limits ranging from 5k to 12k. I got a couple more to give me some wiggle room and through a scheme I read about on a personal finance website I took out 30k cash from them through 0% balance transfer offers. With the credit situation today and the way card companies are cracking down I'm not even sure you could do this anymore, or if you could the terms wouldn't be as good and the costs would be higher.

I took this original stake and have made enough to pay it all back to the card companies and have about 70k in my trading account right now. It wasn't easy and at times I was a little worried, especially during the time when everyone thought the world was ending and the market was going to zero.
More...

that is an epic structured credit swap right there. congratulations
 
Quote from SomeYoungGuy:

I've had a pretty good job for the last two years. A single guy with no car payment or mortgage or credit card debt, no fancy purchases. I've only been able to sock away $20k during that time. How do you guys and gals manage to put together these deep 6 figure trading accounts? Inheritance? DINKs that live even more frugally than me?
More...

Live below your means and save.
 
Try to get a well paying job, live below your means and save. I have my Pipe fitters ticket which allowed me to work out of town on Industrial jobs and save a ton since all you do is work. I could work 6 months, take home 80k, and have the rest of the year off to trade. The quality of life is rough, but it was well worth it.
 
In 1973, when I was a junior in high school, my cousin and I bought soybeans before the Russians bought our crop. I invested $1500, and so did he(cousin was a runner at the CBOT). I ended up making over $60K, which I promptly lost within 6 months. Kept trading over the next few years, playing poker, making book, and buying and selling substances. In grad school, scraped together $9K to trade mini contracts at the old Mid-Am. Turned $3K into about 30K in 3 years while doing the grad school thing Leased a big seat after grad school, and started trading spreads(exchanges don't impose margins on locals for spreads, it's all marked to market). By '83, I was pretty secure and on my way. Been doing it ever since without trading money for others, or having another job.
 
Made a little money in the music industry, mostly in commercials.

Now that I mainly just trade, I often ask myself why I ever chose 2 such ridiculous occupations.
 
Quote from tomahawk:

Made a little money in the music industry, mostly in commercials.

Now that I mainly just trade, I often ask myself why I ever chose 2 such ridiculous occupations.
More...

Freedom maybe?
 
You must log in or register to reply here.
Back
Top