Young Money Management

[eusdaiki]

Quote from Moderate:


much easier to put a $500 stop when you have $10k in ur account.

It's a lot easier to blow your $10k account by using $500 stops.

90% of fellows who bring money to the market leave their money in the market. If you lose money risking $50 per trade, you'll lose money risking $500 per trade... at least on the $50 you'll live longer and you might actually learn how to make money.

 

[Surdo]

Quote from Moderate:

i wanna buy an apartment complex or some asset not a house =P house = liability n i dont care about getting laid or any of that stuff

Get a visa for the hottest Colombian chica you can find and rent her out by the hour to your buddies. You will turn your 50K to 500K in 2 years.

 

[FerdinandAlx]

Postpone college for a year and take a part time job. Use your free time to learn how the market works by reading everything you can get your hands on. Conservatively position trade the 50k on the side. By the end of the year you should have about 80k from the money you saved at the job and the profit from your trading.

By the time you go to college you're going to really apply what you learned by transfering 30k to a margin account to trade futures. Use this account to generate the income for a very comfortable college lifestyle. Let the remaining 50k grow and use it to pay off college or as a future downpayment on a house. You can apply the knowledge you gained to land you a good job in the sector after college.