Took out a loan to transition to full-time trading. 24 years old.

Zr1Trader said:
OP , Lending club having troubles today. Go short lending club max leverage with your borrowed funds from lending club LMAO :)

JK , pay back your loan man.


We should give cnbc or bizinsider this thread, they'd have a hayday with it on what people are actually using Lending Club for. :)

LendingClub CEO Resigns Following Loan Sales Review
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And to think how many billions this company was worth after it went public....another hyped up silicon valley story ...there will be plenty of more of these companies collapsing once this hyped up silicon valley trend ends....
 
So two big wigs from company leave in same day and now GS says they aren't buying any more loans from LC. Maybe GS saw this thread too lol.
 
Day 21:
Beginning of day: $31826
End of day: $34261
P/L: $2,435; +7.65%

Traded only VRX today. Right from the start saw a good opportunity in VRX. I usually don't trade in the first 20 minutes of the open and wait until there is some sort of a strength/resistance, but the chart for VRX just looked too good. After falling so much past couple days, Shanghai and Europe markets positive before the US open, indexes all looking good, VRX was screaming to go up. So I went against my rule and went in VRX. Thought today might be a day for a big recovery, but it was shot shot just before 11am when it suddenly dropped. Lost a lot of my profits during the drop. Still not sure what the drop was from, but the rest of the day I played around with VRX with all sort of sizes, entering and exiting as I saw fit, and got almost all of my profits back.
Giving myself 3 stars for today's trading. There were points where I could have improved on to increase my profits but I cut corners because I thought today might be a home-run day and I wanted more profits than what I already had. Did a satisfactory job trying to squeeze last bit of profit. Could have done better to get similar profits yet have a much safer journey. VRX is going to bounce one day, and I hope I can take part in the ride.
 
Day 22:
Beginning of day: $34261
End of day: $28669
P/L: ($5,592); -16.32%

Beginning of day started small. made money from VRX. Thought a possible bounce play in UA, and got out after losing 2% of total capital. Problem was VRX. Thought it was a good setup for a bounce play and once a bounce hits its going to be huge. So biased on a upward move, went in on VRX. Had time to exit but didnt because wanted bigger profits. Started slowly going down, making possible reverse plays but not breaking the resistance line each time. Waiting for the bounce, waiting for the bounce, and it never came. Exactly like the day I lost $12,000. Same exact situation.
1 star for today's trading. Just horrible.
 
wabu27 said:
Day 22:
Beginning of day: $34261
End of day: $28669
P/L: ($5,592); -16.32%

Beginning of day started small. made money from VRX. Thought a possible bounce play in UA, and got out after losing 2% of total capital. Problem was VRX. Thought it was a good setup for a bounce play and once a bounce hits its going to be huge. So biased on a upward move, went in on VRX. Had time to exit but didnt because wanted bigger profits. Started slowly going down, making possible reverse plays but not breaking the resistance line each time. Waiting for the bounce, waiting for the bounce, and it never came. Exactly like the day I lost $12,000. Same exact situation.
1 star for today's trading. Just horrible.
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What's your equity now? (Accout value - liabilities).

Are you still positive?

I appreciate that even when you lose a lot of money, you man up to it. Not a lot of people on this forum would do that.
 
wabu27 said:
Waiting for the bounce, waiting for the bounce, and it never came.
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Consider adding a time stop to your set of tools. So if the thing that you want to happen doesn't happen within a certain time window, just exit and reevaluate.
 
K-Pia said:
http://www.trade2win.com/boards/tra...sition-full-time-trading-24-years-old-23.html
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OP, What is your motivation for posting this in two separate forums? It can't be for advice , as you have blatantly ignored all sound advice. What is the motive? Paid poster looking to ramp up site views or what ? Perhaps we who are replying to the thread are the only suckers here.

I jokingly told you to short LC above $5 it's now $3.83, I was kind of hoping you blindly followed my call and made some coin :)
 
Day 23:
Beginning of day: $28669
End of day: $29087
P/L: $418; +1.46%

Ha....started the day with DDD, making a small profit while keeping my eyes on VRX. VRX always looks like it would bounce so i was scared to short, and it dropped alot...again. Meanwhile went in on a bounce play for JBLU and airlines today just sucked. Lost more than I expected on JBLU. Out of JBLU and DDD, went in a VRX for a bounce play. Caught the first major bounce, exited, and waited for a pullback and but it bounced again before pulling back to the levels I was expecting. So disappointed on not being able to ride VRX... omfg. I feel like that was the bounce I was waiting for while losing $18000 of my money...fml. Played around with JBLU and VRX towards the end.
Giving myself 2 stars for today's trading. A big miss on JBLU. Should not have gone in on a low probability play... its just that I felt like JBLU at the current level is such a steal that I wasn't thinking in terms of what would happen in the next couple minutes, but what it would play out to be in the near future (couple days). I feel like airlines are due for a good rally upwards...but that is to be seen. Not bad on VRX but omfg just disappointed not catching the whole ride up. After losing so much money the past week, I think my mindset is a lot more defensive. JBLU just did not help much today. Airlines...omg low volume all day. Just weak all across the airlines all day when NASDAQ wasn't that bad.
Before it was so easy to make a percent in the markets. All the losses I had, i feel like it was due to me being greedy and trying to get "more". I always started the day up couple percent and it came off as easy. Today, I had to work for all the little gains I got. It was a tough market to trade in. omfg aahhhhhhhhhhhhhhhhh. I guess i should be thankful I didn't lose money.
 
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