Moving into an apartment as a trader...

Wouldn't be able to afford college without my trading. Trading is what I want to do.

I spend at the very least 100 hours+ studying markets and reading up on material.

I have a strategy that works for me and I love to trade.

No biggie.

Why would I sell myself short, I'm not truely happy unless I'm trading.

Even when I was in my college classes during high school, I could not pay attention because I was too busy on my cell phone texting Google mobile looking up the latest ticker quotes.

Education is important, and I will continue it, but I will either work in music or trading. It's the only thing I'm happy with, money is no concern, I don't need millions to be happy, I just want to get by, and if I can do what I love to do and afford to do it, then that is what I'm going to do.

I am continuing to take all my earnings from trading and put them in safe investements for the future.

Education will come. My sister didn't finish her college education until she was 28.

It's either music or trading, I can't really force myself to do something else just because of money. I love trading because it challenges me.

I guess I can't explain it and probably no one will understand, but, I just have to continue my trading or music *like I am right now* or I will just be lost like I always had been, trading and music are the only things I'm truely happy doing and I've tried so many things in my life so far, and will continue to try new things, but, can't see myself doing anything else.

I don't believe myself to be a big time trader, NOR have I ever claimed to be, and I'm really tired of dealing with people that say I am. It's my life afterall.

Don't know how else to explain it nor wish to do so, it's something I'm going to do.

I've never been happier in my life, and to know I'm becomming consistent in my trading enables me to continue with confidence and my work and effor thus far is paying off.

So, please do not worry about my personal life. I will be trading... unless one day my interests in the market dies, it won't stop. I only stayed up until 6 am in the morning studying charts and talking to other traders, but I pulled that one off last night :D Still managed to wake up and execute my strategy and make some money, I love it! I'm currently studying other markets and dabbling back into automated trading like I had wanted to when i started my very first posts on ET nearing a year ago. I'm finally able to take my profits and fund an account at tradestation and possibly develop my trading system and such. Looking forward to that, and also getting ready to purchase a new computer for trading.

Just looking for the longer term of things. Trading will always be in my future, my education will be continued. I want to build up my credit so I can get out on my own first just incase.

"join the army/navy/coast guard/etc and they'll pay for it."

I actually was considering that, because all three of my best friends joined the air force. But I loved trading too much and didn't leave to join with them. So that right there should clearly tell you how dedicated I am with the markets, and I will succeed, there is no question in my mind. That might be a bit of an ego, but I actually say it is confidence that I have proven to myself I can do this. Just takes the right psychological makeup and determination and a strategy that works for ya. At least has been my case.

I think only the successful people on this board I have talked to VIA pm really understand what I'm doing, but it's okay, the rest on the board usually just criticize me and such, and I just can't help but laugh most of the time. :D

Hopefully someone understands what it is to really love what you do and will never give up, as there has never been a day where I have doubted my trading, and have yet to be proven not to.
 
Quote from myminitrading:

IMO you need a real job at least part time to establish credit be prepared to pay the highest rates over 20% put these cards in your drawer and forget about it. In about 6 months apply for another one but do not use them. This process could take several years, and it is very important to keep your balance to credit limit ratio around 90% available credit, just try not to use them at all is my recomdation. After several years you will be on your way to establishing credit.


After 20 years of good credit management your score will look like this.
More...


FWIW you don't need 20 years.


My wife had a 735 when she was 22 years old and only had 1 credit card for 3 years on her record.
 
Quote from volente_00:

FWIW you don't need 20 years.


My wife had a 735 when she was 22 years old and only had 1 credit card for 3 years on her record.
More...

Did your wife have a job though Volente?
 
Don't worry too much about credit. Kids your age in college rent apartments all the time. Keep asking until you find an apartment you like where they will take you.

The only "tough" apartment leases are in cities where rent is really high like NYC or SFO. Or Chicago where they can't kick you out in the winter even if you don't pay rent.

Traveler
 
JM, you taking any college classes right now ?

http://www.mbna.com/creditcards/students.html



This is the very first card I ever got while in school. I received it with no previous credit on my record with a limit if $500. Get it and charge no more than 30% of the limit on a given month and always pay it in full. Also go to your local bank and borrow $1000 and put it in a short term cd at that bank. Pay the monthly payments and when the cd matures pay the loan off in full. Part of your credit scored is based on a mixture of what type of loans you have had. Credit cards are revolving debt where as bank loans are installment debt. You need some of both in your history.
 
Quote from Traveler:

Or Chicago where they can't kick you out in the winter even if you don't pay rent.

Traveler
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curious about the meaning of this since i will be moving there shortly

thanks

jm
 
are we looking at the same report? :D


Quote from volente_00:

.... Get it and charge no more than 30% of the limit on a given month and always pay it in full...
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yes, max out on credit is a no no.


Quote from volente_00:

..

My wife had a 735 ...
More...
:D

wife got the same score, just check :)
 
Quote from volente_00:

JM, you taking any college classes right now ?

http://www.mbna.com/creditcards/students.html



This is the very first card I ever got while in school. I received it with no previous credit on my record with a limit if $500. Get it and charge no more than 30% of the limit on a given month and always pay it in full. Also go to your local bank and borrow $1000 and put it in a short term cd at that bank. Pay the monthly payments and when the cd matures pay the loan off in full. Part of your credit scored is based on a mixture of what type of loans you have had. Credit cards are revolving debt where as bank loans are installment debt. You need some of both in your history.
More...

Not currently in classes, waiting till semester after summer to get back into night classes.

I'll go up to the bank and ask about the loan deal as well. Not sure if the bank reports to the credit burueo's. It's a very small bank, they don't even have a website.

Do you think if I opened up an account at a new bank and took out a loan that it would be ok? I was actually thinking about moving all my funds from my checking and savings to a new bank where I could actually keep track of things VIA online website, especially when I decide to go out to belgium to visit my friend in the airforce, would look to keep tabs on everything easily.

So... to recap:

I have signed up for an MBNA credit card. Will get written notice within 30 days.
If that doesn't work, I'll get a secured credit card and work with that until I build up credit.
I'll go check out stuff about the loan like several have suggested and put it into a CD. Which is not new to me since I have CD's already.
Still thinking about the moving thing, will work on that later, guess I have no problem staying here for a while longer, but still planning on making a move next year. Maybe I'll wait a little longer and save up for 2 years of rent instead to be even safer and more secure....

Trading has been getting better and better, and if the worst happens, I have backups in plan.
I have long term investments currently and will continually add to them for my future.

I'll have to just keep it up with the rest.

Learned a lot from this thread though about credit and moving and such. Really appreciate it. Happy to know there are still people on ET willing to help :)
 
some landlords (depending on the market) will allow you to move in if you put down a substantial security deposit (i.e. 2-3 months) and offer to pay 2-4 months rent up front.

You're going to need good credit or, a lot of reserve cash to do that and try to trade. If you trade without having much of a buffer, you run the risk of being broke AND homeless, and that's not a good combo.


nyc, getting a apt without a "job" or some kind of verifiable track record in "trading" is next to impossible, unless you find a roommate. But then again, if you skimp on rent, the roommate will be more than happy to put you right on out, cause there's 5-10 more knocking on the door wanting in and they have the resources to live..
 
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