But I want to trade.
My Story Trading as teenager, lost $50000 daytrading futures
- Thread starter RichTrader98
- Start date
Because that will equal 5 years total day-trading.... it takes about that long to be profitable.
Forget it. Leave what's left of the cash in the bank where it belongs, at least you can't do any more damage to it there !
Let's go over the facts shall we ....
1) You admit you lost $50,000 trading
2) You admit you are now desperate to recoup the loss
3) You admit you don't have a job
4) You admit it was not your money to start with (you say it was your fathers)
None of the above is a "good thing".
You say you've been trading "for over a year", but quite frankly that is irrelevant given the "experience" amounts to nothing given your prior admissions.
You have given us a list of so many "red flags" and "alarm bells" that anyone here with any common sense will tell you that your case should not be touched with a bargepole.
You are beyond high-risk, you are a liability. Face the facts. Trading is not for you.
As I said, leave the money in the bank where you can't do any more harm to it, and reach an agreement with your father to pay him back bit by bit over an extended period of time.
Oh, and get a job. That's the easiest and safest way for you to recoup the losses.
Do you know amibroker coding, AFL?
I am trying to learn it.
But trading is all I know. And I lost majority of that in the first months. Mostly due to excessive leverage. I time my trades good.
Troll?
Some people are being ignorant of the situation.
Sadly that is not enough, you have lost too much of your capital.
My advice would be:
You need to get a job, earn some money, develop your edge/strategy/plan while you are it, read everything about trading you can, then give trading another go in a few years time.
Or are you or you family so rich you don't need to work?
Either way, expect to blow up a few times before you figure it out, hopefully next time it wont be 70% of capital. Perhaps you might stop when down only 20%.