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

conduit said:
And I cannot believe you would give such stupid advice. Are you asking him to pile on more debt? Because none of your "reputable prop firms" will provide leverage without upfront payment. That means more cash to shell out. Stupid idea.
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I agree, that was the most hilarious post yet, telling someone who has lost their arse trading to march on down to a Prop Shop for equity. Hell, why not print out the P&L and let William Ackman know your available to trade too. That was funny!
 
Day 4
+1.61%
Charts weren't pretty today and I barely traded. That and also my internet was being uncooperative and I disconnected twice. I tried to add commentary but noticed after the first internet disruption, volume wasn't going in. After restarting my computer to fix it, from some point it wasn't streaming. A lot of technical mess going on today. Just glad I finished in the green and not the red.
 
wabu27 said:
Day 4
+1.61%
Charts weren't pretty today and I barely traded. That and also my internet was being uncooperative and I disconnected twice. I tried to add commentary but noticed after the first internet disruption, volume wasn't going in. After restarting my computer to fix it, from some point it wasn't streaming. A lot of technical mess going on today. Just glad I finished in the green and not the red.
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You are now starting to experience some of the distractions I mentioned while trying to stream your live trading. You're welcome.
 
Day 5
-20.1%
Week 1
+3.9%
Where to begin...
I was having internet problems again in the morning. My house has the cheapest internet and I guess it can't handle online streaming, charts, and trading at the same time. After a short time, I discontinued live streaming so I could trade. It was lagging a little and my chart... before I realized... wasn't updating in real time. It was lagging. What a nightmare it was this morning. I basically had IB open on my laptop and was looking at the charts via my phone using data.
If I played it safe and defensively, I wouldn't had the results I had now but being me, I didn't play it safe. I kept my short position open during work as well when I'm supposed to trade only in the morning time. Thanks to my stupidity, I lost everything I earned this week. I'm up $126(?) for the week.
Oh man oh man... before today I was up 30% this week. I gambled today and I lost. I knew I was gambling too...
Why does this feel like de ja vu. Can't wait till next week.
 
Awesome Dude, you are really starting to kick some butt, good job! I wish I had to luxury not to listen to all the Collective Wisdom of Elite Trader but I think you are going to be a Super Star, Good Luck!
 
Day 6
+7.44%
excellent example today on how not to trade. pure excellent video, with commentary, on how not to trade. Made money on a lucky breakout but today, trading was horrible. Oh man, if I don't really stop gambling, I'm going to lose all of my money this week.
 
wabu27 said:
...Oh man, if I don't really stop gambling trading, I'm going to lose all of my money this week.
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There, fixed it for you.

Today I lost about $670 including fees in three trades. I could have tried to recover some of it, but decided that I had had enough. I stopped trading so I didn't lose more, because obviously I wasn't on top of my game. That's how I'll avoid ruin. You should consider doing the same thing. When you're not feeling like you have a handle on things, just don't go in. If you do and your results reflect that, then stop going in for the rest of the day. Take a breather. Tomorrow is another day.
 
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