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

Visaria said:
wabu, u have to ask yourself what you want in life. If you want to be rich, start up a business, build it and sell it. You can swing trade on the side anyway. Day trading is imho something which you either have talent for or you don't. I would advise taking a month sabbatical from your job, day trade and see if you have the aptitude for it. The odds are you will not, nothing to be ashamed off, in fact you will have saved yourself a lot of time and money.
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One month is obviously not enough to tell if someone has "talent" for daytrading.

@Visaria
 
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radex78 said:
I am omly trade forex as part time still, and never borrow money to bank or other people, maybe if I am borrow money to invest in forex hence already get stress now because many times get margin call account, but still in lucky i am often trade only from bonus free from certain broker
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suggest that course is changed here.
 
wabu27 said:
Sometimes I'm not sure if I'm trading stocks or just straight up gambling. So I decided to change it up.
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You're not getting the results you want one way so you're trying another approach, one you haven't really tested properly but are ready to put live money behind. That sounds a bit like gambling to me.

It appears you have the workings of some methodology but instead of keeping it small to get consistent with it first, you're borrowing money at very high cost and are betting your credit rating on it. I can't see this having a happy conclusion.
 
That's an insane rate man.. high way to the poor house.

Here in northern europe you get an unsecured consumption loan up to $50k for 3% APR, if you borrow against your own RE you get 1% APR. (this after 33% annual interest deduction that we got here)

I would advise only pro traders that know what they are doing to borrow money for trading.
 
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