Loan Application - Why you must trade this market

SunTrader · Mar 21, 2020

kmiklas said:
...and they hate winners.

Yes. Winners that take advantage of confident fools.

PoopyDeek · Mar 21, 2020

kmiklas said:
I made an appointment with my bank loan officer for some working capital. He said that how one traded in the 2008 mortgage crisis is a good indicator of how good one is at managing money.

Opinion: Trade this market. Earn your stripes. This is the kind of market where fortunes are made, and you can prove yourself. Now is the time to show what you can do. Smart trading now will serve you for years to come. Girder up your loins, and FIGHT.

I'm hearing newscasters say "Get into cash." F that. Now is the time to hone your skills. You are David, and this market is Goliath. Whatever your trading style, get in there and trade.

lol no bank officer is going to loan you money to trade... no bank officer asked you how you fared during the subprime crisis or is using that info as predicate for a f*cking loan.

You're off your thorazine, eh Keith?

kmiklas · Mar 21, 2020

southall said:
But there is recession looming and you might lose your job and your own risk capital and then the banks money on top and so be faced with extra debt repayments while out of work. Thats not a nice place to be.

This is not a winning attitude; this is fear. Fear and faith have much in common, my friend. Have faith: faith in your trading skills, insight, and your decisions.

Did Marty Schwartz think like that? Soros? Buffet? Any champion anywhere?

PoopyDeek · Mar 21, 2020

qlai said:
With what collateral? My understanding that you cannot use HELOC money to play the markets, but not sure what would the consequences be.

He rents a small apt in NJ. Dude is delusional.

SunTrader · Mar 21, 2020

PoopyDeek said:
He rents a small apt in NJ. Dude is delusional.

Or maybe:

ps0013 · Mar 21, 2020

Sekiyo said:
I don't know what kind of guy can make a billion out of this market.
Ah .... yes ... half billionaires.

You better had some long OTM put option before the collapse.

I'm guessing if a trader had 2 million dollars he you could easily turn that into 1 million in this market lol...

ironchef · Mar 21, 2020

kmiklas said:
Did Marty Schwartz think like that? Soros? Buffet? Any champion anywhere?

Yes, they have two rules:

1. Never lose money.

2. Never forget rule #1.

Sekiyo · Mar 21, 2020

kmiklas said:
This is not a winning attitude; this is fear. Fear and faith have much in common, my friend. Have faith: faith in your trading skills, insight, and your decisions.

Did Marty Schwartz think like that? Soros? Buffet? Any champion anywhere?

Be a joyful pessimist

southall · Mar 21, 2020

kmiklas said:
This is not a winning attitude; this is fear. Fear and faith have much in common, my friend. Have faith: faith in your trading skills, insight, and your decisions.

Did Marty Schwartz think like that? Soros? Buffet? Any champion anywhere?

Bit of wisdom from Paul Tudor Jones for you:

“I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have.”

Laissez Faire · Mar 22, 2020

kmiklas,

You just made a thread about how you were getting whipsawed in the market asking for advice - and now you want to leverage that?

People and firms are blowing up left and right in this environment.

There’s a lot of survivorship bias in the stories you read.

It would only make sense to take up a loan after proving you can trade. If you do so now, I don’t think this will end well for you.