My Story Trading as teenager, lost $50000 daytrading futures

B
luisHK said:
For a lot of youngsters that kind of money is very easy to blow in parties in a tiny fraction of a year, not quite convinced daytrading is a better way to lose those funds still.
More...
But atleast I got to learn about the markets and experience something meaningful. BTW I don't drink, smoke or party. And this time has taught me a lot about finance.
 
RichTrader98 said:
But atleast I got to learn about the markets and experience something meaningful.
More...

You got to learn about the markets and experience something meaningful ??? You lost $50k for god's sake !

I would call your experience "learning the hard way" although I am not actually convinced you've learnt anything, just lost $50k of your dad's money.
 
Tim Smith said:
You got to learn about the markets and experience something meaningful ??? You lost $50k for god's sake !

I would call your experience "learning the hard way" although I am not actually convinced you've learnt anything, just lost $50k of your dad's money.
More...
I didn't want to reply but I have successfully completed a course on advanced Technical Analysis and now taking the NFA Managed Futures test next month. And also done other certifications too.
 
I don't understand why you don't just trade blue chip stocks...50,000 ain't bad to start with, make alittle here and alittle there. Stay away from futures...they are defiantly not for a novice trader like your self
 
RichTrader98 said:
I didn't want to reply but I have successfully completed a course on advanced Technical Analysis and now taking the NFA Managed Futures test next month. And also done other certifications too.
More...

you should go to a casino and put it all the money you have left on blackjack, might be a better outcome than your futures trading
 
RichTrader98 said:
This is my story
I lost $50000 trading futures and the majority of those loses were incurred day trading Crude Oil and Natural Gas futures.

I want strategies and suggestions to recoup the loss.
More...

Post your trading acct records available for viewing here, or somewhere else online :confused: o_O
What on earth would make you, a teenager with some money and no experience, decide to trade futures...that's a more complicated thing then virtually everything else in the market to trade.

Desperate times call for desperate measures...use the remainder of your acct to trade options -- kind of like that fake reddit paper trader wolf mask appl options guy,

Trading is much more then just basic, linear, dumb, braindead zombie charts and numbers and yadda yadda -- you have to be wise about a combination of things....think like Mr. Miyagi and Yoda and Morpheus,

I always say it....trading is part art, part science. Each new day is a unique ratio between the two. You are always susceptible to getting hurt. You have to be always open-minded and flexible,

These kind of stories of random people coming to forums always makes me fishy.
But if this is indeed a true story, I have no sympathy for your situation...where you are fortunate enough...that your father can afford to give you $50,000 to trade/gamble.
 
Last edited:
If a father gives his son 50k to trade (not invest)...I'm sure he must have known the risk of losing some or all the money. If he didn't, the broker reminded you of that risk when the account was open...same by the data/charting vendor along with most forums on trading.

Therefore, give the remaining 20k back to your father and explain you're not a good trader due to your inexperience about trading and money management.

If he ask for the 30k back (the money lost)...you and your dad have a serious communication problem because some sort'uv an agreement must have been discussed when the money was given to him...an agreement he's choosing to not mention.

1) Stop trading and don't listen to those that try to encourage you to trade again via them making suggestions about other markets to trade or tweaking your trade methodology.

2) Get a job or go to college...then get a degree that gets you on wall street or into a financial institution if you really love the financial markets that much.

3) Don't ever borrow money again and never get a loan / credit for the purpose of trading.

The above will keep you out of trouble because right now you have no financial maturity. This should be already obvious and you coming to this forum with your story just doesn't add up because there are too many missing pieces unless I missed a post by you.

P.S. You may not be aware but the way you reply suggest you may be a troll especially considering I notice you don't reply to those that suggest you stop trading and to get a job. Thus, you seem to only reply to those comments as if you're looking for advice to continue trading.

P.S.S. If your story is true, this is why I've made the suggestion at this forum many times that traders should have to pass a test about money management, understanding leverage and then must pass a simulator account prior to being allowed to trade with real money with any broker.
 
Last edited:
lawrence-lugar said:
Post your trading acct records available for viewing here, or somewhere else online :confused: o_O
What on earth would make you, a teenager with some money and no experience, decide to trade futures...that's a more complicated thing then virtually everything else in the market to trade.

Desperate times call for desperate measures...use the remainder of your acct to trade options -- kind of like that fake reddit paper trader wolf mask appl options guy,

Trading is much more then just basic, linear, dumb, braindead zombie charts and numbers and yadda yadda -- you have to be wise about a combination of things....think like Mr. Miyagi and Yoda and Morpheus,
I always say it....trading is part art, part science. Each new day is a unique ratio between the two.

These kind of stories of random people coming to forums always makes me fishy.
But if this is indeed a true story, I have no sympathy for your situation...where you are fortunate enough...that your father can afford to give you $50,000 to trade/gamble.
More...
He knew the risks involved and already 2-3 of his friends had lost substantial amounts trading futures.
 
RichTrader98 said:
I didn't want to reply but I have successfully completed a course on advanced Technical Analysis and now taking the NFA Managed Futures test next month. And also done other certifications too.
More...
You can read and study hour after hour, but, when you get into the cockpit can you fly the plane without crashing?
 
You must log in or register to reply here.
Back
Top