***my First Post***
- Thread starter I Trade 4 Money
- Start date
Quote from Kastro_316:Are you for real?
That's what I'm wondering. Either a jokester or he's got poor reading comprehension or just a tradin' fanatic.
That's what I'm wondering. Either a jokester or he's got poor reading comprehension or just a tradin' fanatic.
No. I'm fake. I'm forced to trade the way I trade because I have classes from 2:30-10:00 every tuesday and thursday.
Thanks for the website. I'm definitely going to consider this firm. Getting 20:1 is the type of leverage I'm looking for. What are the commission structures? Do you learn how to scalp there? Thanks for the advice.
Thanks man!
SHORT baby SHORT. Adapt to changing conditions.
Quote from I Trade 4 Money:
Hello. I would like to take this time to introduce myself. I want a lot of money. I'm 24 and I want to be a millionaire by the time I'm 30 and over 10 million by the time I'm 40. I have no debt. I currently trade with the 23,000 that I have in my Scottrade account. Just 2000 more and I get 4:1 leverage. I could use the 6000 I have in my bank account to get that stupid 4:1 SEC rule requirement, but if I can't make 2000 with 23,000 with 2:1, quite frankly, I don't deserve that 4:1 leverage. At this point in my life, I would consider myself a "loser" for a lack of a better word. I still live with my parents (lame excuse #1: Want to save every bit of money I have so my trade account get's bigger and bigger). I have no car (lame excuse#2: Same as lame excuse #1). I have no girlfriend (lame excuse #3: Same as lame excuse#2). My first goal is to turn from a loser to a winner. In order to do this my first target goal is to have at LEAST 200,000 in my account by the end of 2008. You may ask yourself, how in the hell I'm going to make that kind of cash in that short of a time period. One word my friends: LEVERAGE. As soon as I increase my 23,000 account to 30,000, I'm going to get a loan for 30,000. Since I have good credit, I can get a loan for less than 8%. Put that 30,000 with my other 30,000 and now I have 60,000 in my account. With 2:1 leverage that's 120,000. If have enough experience to scalp by then, I might decide to use the 4:1 leverage. By that time, I obviously need to find a better platform than Scottrade, one that has low transaction costs for high volume traders. You guy's got any suggestions for any good platforms? Anyways, that's my plan for the time being. I'll give updates from time to time. Thanks for reading.
I am sure a lot of traders got a chuckle out of your post. I know I did. Forget if you can about being rich. You are 24, cmon all I did was drink and chase girls when I was your age. Second and most importantly calling yourself a loser is silly. Never judge your self worth by material shit. Warren Buffet lives in a modest ranch home, is he a loser? Your life situation is irrelevant. Although if you want a girlfriend (questionable proposition) try asking a few girls out. Be bold!!
As far as trading goes there are many paths for you. You may consider a job in the industry, start as a runner, back office clerk,
work for a market maker, work for a Scotttrade, the possibilities are endless. My advice would be to read as many posts as you can to try to shortcut your mistakes. Leverage is a crowbar in any industry and it hurts a lot when it swings against you, ask any options or futures trader. There is lots of great information on career paths on this site. I would advise you to consider trading as a career first then you can scheme about getting rich all you want and get paid for it. LOL.