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

wabu27 said:
It's been over a year. And hell of a year it was (literally). So many things had happened. I'm still in shit load of debt yet I'm going to trade again...
I'm also going to start streaming myself trading on youtube...
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If you are really serious about getting out of debt, why would you go to the lengths of streaming yourself trading, and thus open yourself up to all the peanut gallery stuff that may entail? Isn't that an un-needed distraction to getting back to the green?

I can understand a static journal after the fact...But live streaming? *shakes head*

To each their own. I hope it works for you! Being in debt sux ass.
 
wabu27 said:
I'm still in shit load of debt yet I'm going to trade again. I'm also going to start streaming myself trading on youtube.
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I don't get it. You borrowed $25K from your dad, and lost it all in 1 month trading futures. Correct? Now you want to stream yourself trading on youtube?

You know, Ed Seykota, one of the greatest traders, once said, "Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money."

I think you are a perfect example of what Ed was talking about.
 
I have only read the first page and this one ! It looks like a disaster and a good lesson to other aspiring newbies on what NOT to do.
By all means trade BUT start again and this time do it properly with a demo account and a day job.
 
Woot made 10.99% trading oil futures.
Did a nice job cutting loses. Did a mediocre job staying in when it was going good. Could have made a lot more profit but exited way too early. Scared to lose money so trying to play it safe.
 
When i started out about 15 years ago I was still working full time. One of my credit cards offered me a cash advance @ 0% interest. I took advantage of the offer and bought AAPL, AMZN. I did well...
 
Woot! Made 10.99% playing baccarat.

Did a nice job cutting losses. I didn't stay on the bank run while it was going good. Could have made a lot more profit but stopped betting the bank way too early. Scared to lose money so trying to play it safe.

Kidding aside, you should focus on the process of your trading decisions rather than the result. Being up 11% means nothing. What did you learn from the decisions you made (or didn't make) as part of the trade?
 
I know a guy who borrowed 100k to buy an IPO mutual fund stock for 1 dollar per share, this took place long time ago when mutual funds were starting out. It went to $10 per share with in a year. He went on to create his own mutual fund company that just invested in BRK and other wealth building businesses. It's not for everyone but sometimes you just need to take a chance...
 
wabu27 said:
My current plan is trade safe until I get to $30000 then start day-trading. I don't have experience daytrading with real money due to lack of capital but I think I'll be able to make make consistent returns while cutting my losses short.
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Trading safe is taking out a 26 percent interest loan??
 
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