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

This is hilarious...

He has absolutely no idea what he is doing. Trading CL, has realtime feed on IB... but decides to look at an investing.com chart for the CFD... and also watches the Velocity 3x ETF long AND the 3x short on google.finance. That's the same chart in 3 different windows ... what's the point in that? And they are all not the real thing CL...

I might stay up late to watch the live stream... bag of chips, couple of beers... comedy!
 
Day 13
+7.69%
I thought the oil report comes out today! I guess not...
Traded okay today. Kept having internet disconnect issues so my live streaming was cut short. Going to end early today and go to work early.
 
wabu27 said:
Day 13
+7.69%
I thought the oil report comes out today! I guess not...
More...

*sighs* The Crude EIA reports are always delayed by a day when we have a U.S. Bank holiday during the same business week before Wednesday. If you had been following CL for any length of time (like 6 months) you would have known this. Lesson learned.

P.S. It's not at 10:30 ET, as usual, but 11:00 ET. 10:30 is reserved for NG, hehe.
 
Day 13 EDIT:
+12.00%.
Found a good entry position while secretly watching the chart at work and went in for a little bit. Made a quick buck. Out for the rest of the day today but watch the oil chart!! I think it's going for a significant drop today. If I was at home, I would have entered a short right now.
 
wabu27 said:
...Found a good entry position while secretly watching the chart at work...
More...

Think we found a key problem right here...

"Watching the chart at work"? So you are sneaking in trades while working the day job? You can't transition to full-time trading from part-time unless you can set-aside a full day to trade for many many days to learn what it is to trade for a full day, IMHO. Each instrument (especially physical commodities) has certain behavioral patterns during different times of each day, and more grossly, each season. They must be learned full-time, not with glimpses of a chart at various points during a season.
 
I agree. I don't know if you've read all the previous posts, but basically in in a lot of debt right now and have a full-time job to support myself and my debt payments.
While I would love to trade full-time every day, because situation does not allow me to, I only trade before work in the morning for about 2 hours. Don't let this thread title fool you.. original post was made over a year ago before I quit my finance job, took out bunch of loans, and started trading full-time.
While one of my personal rules is to exit all positions before going to work and not trade during work hours, I still like to watch charts from my phone. I saw an opportunity that seemed excellent so went in (bent my personal rule) and exited for a quick buck.
Not sure when I will be able to pay back all of my loans, be consistently profitable, and be stable enough to transition back to full-time trading, but for now I'm enjoying my morning runs into the market.
 
wabu27 said:
...but basically in in a lot of debt right now and have a full-time job to support myself and my debt payments.
While I would love to trade full-time every day, because situation does not allow me to, I only trade before work in the morning for about 2 hours. Don't let this thread title fool you.. original post was made over a year ago before I quit my finance job, took out bunch of loans, and started trading full-time...

I saw an opportunity that seemed excellent so went in (bent my personal rule) and exited for a quick buck.


...
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Stop! Stop stop trading. Right here, right now. The warning signs are so severely loud, it rivals the nuclear warning siren tests that happen in these parts on occasion.

Quick bucks, taking out loans to trade... You are digging a nasty hole. Just stop right now, do not pass go. I don't care that your original post was made over a year ago. My huge one-day loss was over two years ago, and I am still trying to claw my way back FULL-TIME. This is not a "quick-buck" game, and certainly not one to bet the welfare of your family upon.

Get 100% out of debt, and build up a bankroll you can afford to lose before attempting this again. A nickel's worth of free advice, at 5.00% per annum interest. Heed it or die in loan payments.
 
P.S. Tomorrow is report day for first impact of Harvey on CL. But now we have a double-whammy happening. Irma is incoming, and could mess up supplies on RB the week after. I smell volatility incoming on CL for the next three weeks. Stay out of CL on report days for three weeks if you do not know what you are doing. (Next week it will be Wednesday as usual).

You also have OPEC to contend with. Remember them?
 
Overnight said:
P.S. Tomorrow is report day for first impact of Harvey on CL. But now we have a double-whammy happening. Irma is incoming, and could mess up supplies on RB the week after. I smell volatility incoming on CL for the next three weeks. Stay out of CL on report days for three weeks if you do not know what you are doing. (Next week it will be Wednesday as usual).

You also have OPEC to contend with. Remember them?
More...
You sounded like you are a CL pro. Do you trade CL?
 
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