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

S2007S said:
Why didn't you just save $11,000 and start trading without borrowing $11,000.... with your salary you could easily save about $10000 in 6 months...
Unless you eat out every night and drive a 6 series BMW.
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As for excuses go, would you believe me if I said I have more money in my bank account than my parents? I support them with $$ every month, pay for the family's phone bill, have college loans asking for monthly payments, donate 10% of my income to church, and for some righteous reason decided to sponsor a child through Compassion. At the same time I have to be social which costs extra $$. At home I really live like a peasant and $1000 a month saving is only possible if I basically kill off my social life. It's usually $500-$700 savings a month. Good thing I'm not into the latest tech/fashion because that would be extra $$. Oh, and quarterly car insurance payments suck.
 
eganon69 said:
I will be the first to declare this,....

If you are truly smart enough to have a $60K a year financial job and save $9k then you have saved 15% of your income AFTER taxes to trade. Then you say you took out a loan for $11K at 26% interest that means at a $20K trading capital you would need to make at least 14%/year while under capitalized after interest and commissions and with no track record or serious posts on ET. My BS detector is on high!! Why not just save a bit longer for the full amount.
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haha was just writing about the money saving thing. read the previous post
 
Paul Jenkins said:
Are you trading alone or in a day trading room?
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I trade at work..secretly. I think my boss and higher-up coworkers know I trade during work times (firm people know I'm really into stock tradings too) but they are quiet about it. I think it's because I get my work done and my work quality is good enough for the firm's standards. Or they don't know I trade hahaha but I'm sure compliance knows. My broker statements get sent to them monthly.
 
marketsurfer said:
Sure, why not? America was built on risk--- you really have very little to lose by going for it. Don't listen to these misers and nervous nellies.
peace
&
good luck
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I agree, that's what I was kind of thinking. -- To these conservative traders or investors....it may seem like a risky proposition (and it probably is) ...but all the greats in life...scrapped by in the beginning and took risks...to get where they are today. o_O:wtf:

Limitless_2011.jpg


You now have your seed money. -- Go out there, and prove it to yourself you can grow it. (you said you're good)
You might go bust, or you might blow/grow it up -- but the important thing is...you tried it. You don't wanna look back in life at the missed opportunities you wished you tried.
 
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wabu27 said:
As for excuses go, would you believe me if I said I have more money in my bank account than my parents? I support them with $$ every month, pay for the family's phone bill, have college loans asking for monthly payments, donate 10% of my income to church, and for some righteous reason decided to sponsor a child through Compassion. At the same time I have to be social which costs extra $$. At home I really live like a peasant and $1000 a month saving is only possible if I basically kill off my social life. It's usually $500-$700 savings a month. Good thing I'm not into the latest tech/fashion because that would be extra $$. Oh, and quarterly car insurance payments suck.
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Can you turn water into wine too?
 
Dude, this is all just mental masturbation. Ithinkicanithinkicanithinkican etc

Do it or don't do it. It's the wrong decision. Try it and if you're down, CUT YOUR LOSSES SHORT.
 
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