Took out a loan to transition to full-time trading. Now 27 years old.

EOD doesnt work????
That's a bit of a stretch.

If he kept his job,he could have self funded his trading,developed systems,and learned as much as he could without tying a 24 percent noose around his neck.

I love a good success story,but he's taking the wrong approach..









Turveyd said:
Because End of Day doesn't really work, or it works to a like 15% profit per year, still need funding at 24% apr cause it's all he can get and who says keeping his job was even an option.
More...
 
taowave said:
EOD doesnt work????
That's a bit of a stretch.

If he kept his job,he could have self funded his trading,developed systems,and learned as much as he could without tying a 24 percent noose around his neck.

I love a good success story,but he's taking the wrong approach..
More...

Its a bit of a stretch claiming it does work, notifyou want big money.
 
You are strictly thinking of trading ones account,however big or small...

At his stage of development,he should be learning all he can,reading all he can,designing systems and trading as small as he can....having an income at this point in his development is well advised. Taking down loans at 24%,with ZERO income is a major hurdle to overcome and creates unnecessary stress.Maybe hes the outlier,but I wouldn't bet on him..

If you want "BIG money",get a job at an Investment Bank or a Hedge fund and do whatever it takes to get on a trading desk...And coming from and Investment banking/Hedge fund background,I know that is easier said than done
 
SimpleMeLike said:
Yes, i agree with that part.

The loans interest are a bit high.
More...
A "bit high". Seriously?

All traders have expenses but not many are paying 26% shark loan vig.

So take 26% right away off the top.

Then losses.

Then trading expenses.

Then living expenses.

Equal a whole lotta Ramen Noodles dinners - yum.

I can think of much better ways (and meals) attaining the goal of trading for myself.
 
Week 1: +$3
Was planning on making a highlight clip and upload it during the weekend but i made a mistake with the video recordings so couldn't get that done. Hopefully this week I can get a video together.

Been just trading NG.
I keep a daily google sheet that you can view. :)
...h.ttps://docs.google.com/spreadsheets/d/1-myPsu6bRS23p3b3HeIB5wh3jxp4z3VkjEsfF4sKs9U/edit?usp=sharing
 
Hmm... Your broker thanks you for the commissions.

wabu27 said:
Was planning on making a highlight clip and upload it during the weekend but i made a mistake with the video recordings so couldn't get that done. Hopefully this week I can get a video together.
More...

Maybe you should get set up on Twitch
 
11/18/19
+$332
Trading NG. Initial look hinted NG to possibly go up towards 2.7 mark. Went in for some profits but saw NG going up a little too quickly. In this case it needs to shoot up higher but it didn't have the power to so i exited. Still watched NG as it still looked likely to go higher but on a longer time chart it seemed like it was possible for the overall direction to be bearish so was being careful. NG ended up not having the strength to go higher and eventually pulled down.
 
11/20/19

- $531

Traded NG so stupidly. No clear movements so stayed out most of the day. Saw a high and entered a short; thought it was breaking upwards so reversed position, reversed again and currently holding a position overnight. Even told myself in my recording to not trade today but i thought i saw an opportunity. It was a weak fake.
 
NG has been acting flaky lately. Just remember the report tomorrow at 10:30 AM ET. EIA forecasts a huge drop of 86 billion, which makes sense considering the rapid onset of colder temps in the US. Winter is when NG gets fun! :-)
 
You must log in or register to reply here.
Back
Top