How long did it take you to earn $100,000,000?
Took out a loan to transition to full-time trading. 24 years old.
- Thread starter wabu27
- Start date
How long did it take you to earn $100,000,000?
Day 18:
Beginning of day: $41445
End of day: $43719
P/L: $2274; +5.49%
Started the day trading DDD. Missed the initial bounce but got on the 2nd, thinking it had good potential to see greens today. I also had a position in VRX to play off the bounce. So two morning positions, with VRX being a good winner and DDD failing to breakout and started falling. I should've pulled out on DDD earlier but didn't due to how it was moving in the open, thought with this much volatility, the bounce is still going to come and it will bounce higher. But nope, so exited DDD and with that money got in AAPL to play a bounce. Saw an opportunity in TSLA so exited AAPL and VRX to go all-in on TSLA, but i guess in IB they don't let you trade TSLA with leverage. Went in on TSLA and exited shortly after. At that time VRX's chart looked really good - right when it touched breakeven. Had potential for steady good gains rest of day, but I went in on WDC instead. Thought it would bounce but NASDAQ screwed me over again today. What's up with the sudden drop in NASDAQ? And also the sudden drop in NASDAQ an hour before the market close? Lost big on WDC... the force of NASDAQ killed off all the bounce momentum in WDC and I just exited after the second NASDAQ drop.
Giving myself 2 stars for today's trading. Nothing great, nothing poor most of the day. Trading as how I expect myself to trade on a normal day and than on WDC, I messed up big. Should've exited the moment I had no control of what was happening, but the drop in NASDAQ seemed so unusual I thought there would be a bounce soon. Soon was not "soon" and the bounce from WDC helped, but I could've been screwed over if NASDAQ dropped even more or if WDC did not have a bounce in her.
Question to members: If NASDAQ drops suddenly as it did today, does anyone have any sources (sites, forums, etc) to see instantly what the reason was for the drop? I was watching the drop yet could not figure out the reason... thought the 1st NASDAQ drop might be from the gov. interest rate comment, but have no clue. If anyone could help me out, it would be much appreciated! Thank you.
Beginning of day: $41445
End of day: $43719
P/L: $2274; +5.49%
Started the day trading DDD. Missed the initial bounce but got on the 2nd, thinking it had good potential to see greens today. I also had a position in VRX to play off the bounce. So two morning positions, with VRX being a good winner and DDD failing to breakout and started falling. I should've pulled out on DDD earlier but didn't due to how it was moving in the open, thought with this much volatility, the bounce is still going to come and it will bounce higher. But nope, so exited DDD and with that money got in AAPL to play a bounce. Saw an opportunity in TSLA so exited AAPL and VRX to go all-in on TSLA, but i guess in IB they don't let you trade TSLA with leverage. Went in on TSLA and exited shortly after. At that time VRX's chart looked really good - right when it touched breakeven. Had potential for steady good gains rest of day, but I went in on WDC instead. Thought it would bounce but NASDAQ screwed me over again today. What's up with the sudden drop in NASDAQ? And also the sudden drop in NASDAQ an hour before the market close? Lost big on WDC... the force of NASDAQ killed off all the bounce momentum in WDC and I just exited after the second NASDAQ drop.
Giving myself 2 stars for today's trading. Nothing great, nothing poor most of the day. Trading as how I expect myself to trade on a normal day and than on WDC, I messed up big. Should've exited the moment I had no control of what was happening, but the drop in NASDAQ seemed so unusual I thought there would be a bounce soon. Soon was not "soon" and the bounce from WDC helped, but I could've been screwed over if NASDAQ dropped even more or if WDC did not have a bounce in her.
Question to members: If NASDAQ drops suddenly as it did today, does anyone have any sources (sites, forums, etc) to see instantly what the reason was for the drop? I was watching the drop yet could not figure out the reason... thought the 1st NASDAQ drop might be from the gov. interest rate comment, but have no clue. If anyone could help me out, it would be much appreciated! Thank you.
I don't have a TV show where I can act like a clown and make people laugh at me while I make loads of cash. Cramer makes most of his money from the show, not the market. He may as well be another Kardashian. Rich from a "reality" TV show where they act like imbeciles, get paid big bucks, and morons worship them.
He made most of his money from a hedgefund.
Thanks for the Cramer comparison. Made my day haha
You got balls kid
I am thinking you didn't really get my meaning anyway. When I said "I laugh at Cramer. He is one funny clown. " I mean that when I see him on TV he makes me laugh with his crazy clown like antics. You cannot tell me he isn't funny at times honking his clown horns, and screaming and jumping around. Maybe he doesn't do this anymore? I haven't seen his show in years.
Day 19:
Beginning of day: $43719
End of day: $31733
P/L: ($11986); -27.42%
Weekly P/L: -3.36%
YTD P/L: -3.35%
lol... went in on VRX for a bounce play. Wasn't happening. Thought it was NASDAQ's downpull pulling it down. When NASDAQ rebounds VRX doesn't. Go to stocktwits for the reason and Jim Chanos said short VRX last night. Thought it was oversold by that time. Waited. Steadily rising. Thought it was a recovery play. Reversed midday. Should've exited. Didn't. When it was going down even more, I still thought it was oversold. Later, I was just like lets see how low it can go. And it was able to go a lot lower.
1- stars for today's trading. Not following rules. Gambling. Overpositioned on uncertain scenarios.
Man man man... if I trade this way I really will be screwed. Fresh start on Monday. On Monday and Tuesday I might not be able to trade because of a job interview at norcal. Driving there soon after I pack my things. Wow...$12000 loss.... this really is a new record. Got nothing to say. Got nothing to feel. Just. I traded horribly...
Beginning of day: $43719
End of day: $31733
P/L: ($11986); -27.42%
Weekly P/L: -3.36%
YTD P/L: -3.35%
lol... went in on VRX for a bounce play. Wasn't happening. Thought it was NASDAQ's downpull pulling it down. When NASDAQ rebounds VRX doesn't. Go to stocktwits for the reason and Jim Chanos said short VRX last night. Thought it was oversold by that time. Waited. Steadily rising. Thought it was a recovery play. Reversed midday. Should've exited. Didn't. When it was going down even more, I still thought it was oversold. Later, I was just like lets see how low it can go. And it was able to go a lot lower.
1- stars for today's trading. Not following rules. Gambling. Overpositioned on uncertain scenarios.
Man man man... if I trade this way I really will be screwed. Fresh start on Monday. On Monday and Tuesday I might not be able to trade because of a job interview at norcal. Driving there soon after I pack my things. Wow...$12000 loss.... this really is a new record. Got nothing to say. Got nothing to feel. Just. I traded horribly...
Jesus man, the whole month's profits in a day. SLOW down or take off risk. That seems a bit excessive, don't you think?
I've been there before and I'm sure you will just keep at it like normal despite what everybody says, but take it easy or you will regret leveraging up that much.
Have you considered using option instead? Limit your downside a bit more maybe, not sure what you are doing trading wise, but might be a potential route to still use a lot of leverage but limit your downside blowout risk.
I've been there before and I'm sure you will just keep at it like normal despite what everybody says, but take it easy or you will regret leveraging up that much.
Have you considered using option instead? Limit your downside a bit more maybe, not sure what you are doing trading wise, but might be a potential route to still use a lot of leverage but limit your downside blowout risk.
If you ever lose more than 2% of your account in a day, you are doing something wrong. -27% is way too much risk. With that much risk and 3 bad days and your are going to be in a world of trouble with no account and no money to pay back the loan.