1) You are demonstrating far too much RISK in your strategy.
2) You are using BORROWED money for that RISK, at EXTREMELY High Interest Rates.
3) You are being GREEDY and OVER CONFIDENT.
4) You have ZERO Patience and are representing an ARROGANT position in your new venture.
5) On top of all that (Which is plenty) , let's add stubborn , reckless , immature, stupid, etc.. etc..
Let's see....you want our thoughts on your stupidity?.....hhmmm.
Well, .. I think you got the wording correct.
As a 30 yr "aggressive trading" veteran, it is what you don't know that will ruin you.
I'm really trying to help you here. There is so much you don't know and so little you do.
The dice is not rolled!!
Pay the loan back pronto, pronto, pronto! (Chalk the 5% fee, and interest up to the cost of you being spared a whole lot of misery.
If you must, use the remainder to trade Forex (at least you won't get a call for additional cash that you won't be able to make, as you might in stocks..... and..Keep Your Day Job!
And finally..keep $2,000.00 squirreled away.
There is no "lol" intended in any part of this response.
If you want to watch me trade Forex live at no charge in April (I'll let you in my chat room for free) go to this link. It's my local private meetup group but even if you are in the South Pole, I'll let you in the room in April.
http://forms.aweber.com/form/59/340029959.htm
Don't know if this was said in the prior 6 pages (apologize in advance for stepping on toes if it has) but if presently at 24 years of age you are making just under 60k you are doing pretty damn good all things considered. What is the risk that if trading doesn't work out you might find yourself in another job making just under 30k? Or that if you stay with current position you might find yourself making 90k in a year or two from now?
Blowing 9k and being on the hook for the borrowed $11K isn't the only risk!
2) Open a small account with your remaining money with a broker that has a trade simulator .
Gordon I tried Forex before but failed. If you are offering, I'm interested in seeing how you trade live. I subscribed but not sure what to do next - what do I have to do to see you trade live?Let's see....you want our thoughts on your stupidity?.....hhmmm.
Well, .. I think you got the wording correct.
As a 30 yr "aggressive trading" veteran, it is what you don't know that will ruin you.
I'm really trying to help you here. There is so much you don't know and so little you do.
The dice is not rolled!!
Pay the loan back pronto, pronto, pronto! (Chalk the 5% fee, and interest up to the cost of you being spared a whole lot of misery.
If you must, use the remainder to trade Forex (at least you won't get a call for additional cash that you won't be able to make, as you might in stocks..... and..Keep Your Day Job!
And finally..keep $2,000.00 squirreled away.
There is no "lol" intended in any part of this response.
If you want to watch me trade Forex live at no charge in April (I'll let you in my chat room for free) go to this link. It's my local private meetup group but even if you are in the South Pole, I'll let you in the room in April.
http://forms.aweber.com/form/59/340029959.htm
If you find a strategy of annual 26% compounded, the your account may be even.
Please remember that VERY VERY HARD TO find 26% logic.
If it was easy to find it, for the last 400 years, then Gates and Buffet are broke now. (None shows more than 20% for 400 years.)
You'll get a free riding violation if you don't let the trades settle t+3. Just trade options or futures man.Hi I have a quick question I was hoping people had answers for. My friend started using robinhood and just told me this:
Pattern Day Trading rules only apply to margin accounts; a customer trading in only a cash account will not be designated as a Pattern Day Trader. We define a Day Trade as the purchase and sale of the same security on the same trading day. A customer is designated as a Pattern Day Trader if they make four or more Day Trades in a five trading day sliding window (the Day Trades don’t necessarily have to be for the same security.) In order to engage in Pattern Day Trading you must maintain an equity balance of at least $25,000 in a margin account. Please note that there is no limit on Day Trades in a cash account.
He thinks you can do infinite day trades if you are using a cash account. I have a rapid trading style but wasn't able to trade this way due to the PDT rule. If I change my brokerage account from margin to cash account, would I be able to do infinite number of day trades?
If you put your email on the meetup list, just stand bye and I will send you a schedule of when I am on live . It could be a few more weeks. But this is a private room, nothing to sell. ThanksGordon I tried Forex before but failed. If you are offering, I'm interested in seeing how you trade live. I subscribed but not sure what to do next - what do I have to do to see you trade live?