Turning $15K credit card debt into financial freedom

[Redsails]

I hope you are just trolling, otherwise I feel really sad for you.

Undercapitalised traders all blow up eventually, you will not make it trading such high leverage with borrowed money.

I am not a troll. And no reason to feel sad for me. 15K is not a big sum for me. I can afford to lose it.

I disagree with your statement. Not all of them blow up. Most of them, yes. But not all of them. Some extremely lucky people succeed.

 

[trickshot]

I am not a troll. And no reason to feel sad for me. 15K is not a big sum for me. I can afford to lose it.

I disagree with your statement. Not all of them blow up. Most of them, yes. But not all of them. Some extremely lucky people succeed.

15k is not a big sum of money for you but you had to max out your credit cards at 36% APR to fund your gambl... trading account?

Whatever man...

 

[Redsails]

15k is not a big sum of money for you but you had to max out your credit cards at 36% APR to fund your gambl... trading account?

Whatever man...

My earning power is more than 100K. Don't forget that I gave myself time until the end of summer. If I am not successful by then, I will find a job (unless US goes into recession, that is).

 

[MrMuppet]

... not going to repeat the same mistakes again.

I have a sound plan.... During this bull run I hope to recover all my losses.

Dude, you are already repeating the same mistakes over and over again.

Overbetting with scared money without knowing what you are doing and hoping that in the end you'll hit a homerun.

As I said, in case you aren't trolling I really feel sorry for you. In case you are, please go ahead, you are really amusing.

 

[Redsails]

Dude, you are already repeating the same mistakes over and over again.

Overbetting with scared money without knowing what you are doing and hoping that in the end you'll hit a homerun.

As I said, in case you aren't trolling I really feel sorry for you. In case you are, please go ahead, you are really amusing.

No, I am not repeating the same mistakes. First of all, I am not scared at all. Second of all, I lost money not because of over-betting but due to revenge trading, which I won't do again.

My equity low was at $9.6K. Since then I rebounded a bit. More importantly last Friday I lost $450, which is my smallest daily loss ever. So I am confident that I am on the right track.

 

[Redsails]

36%!? Isn't that illegal? I got people on the shore that'll do better than that. But they aren't quite as forgiving as your bank I suspect. But for real..... I hope you make it. Best of luck kiddo.

Thanks!

 

[Redsails]

Go for it, life is short

Thanks!

 

[Redsails]

What's your friend's background and training? How long has he been trading?

Heard about Jim Simons and Renaissance? One of the most profitable and successful hedge funds, they don't hire MBA or financial talents, they hire Ph.D in math, physics and the like.

"Of his 200 employees, ensconced in a fortress-like building in unfashionable Long Island, New York, a third have PhDs, not in finance, but in fields like physics, mathematics and statistics. Renaissance has been called “the best physics and mathematics department in the world” and, according to Weatherall, “avoids hiring anyone with even the slightest whiff of Wall Street bona fides.

— Sarfraz Manzoor, The Telegraph, 2013

No, my friend is not a quant. He has a non-profit background.

 

[lawrence-lugar]

I deposited $2K and started trading on April 29. The first day I won $455!
It was so unbelievable! To make 20% return in one day! I felt like a trade king. I shall forever remember that day.

Well, then do it then. You seem headstrong and confident enough...to have already made up your decision. Why are you debating these people here.
Post your success story later (or bust story)
May the force be with you, Mazel tov

 

[Redsails]

How wrong you are. The difference is they didn't set out expecting they'd blow the account but it happened to them, you seem to think by blowing an account you're more likely to succeed and that's utter BS.

This will be painful (and fun) to watch, I think after a few weeks you'll stop giving updates.

Of course, I do not expect to blow up my account. I expect to win $10K by the end of summer. I just meant that there is nothing tragic in blowing up an account. Many successful traders did it in the beginning. I promise that I will be giving updates to the end. I hope it will become a #1 hall of fame thread.