closing my trading account today

Discussion in 'Trading' started by Gordon Gekko, Jun 11, 2003.

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  1. about 2 weeks ago, my account at IB dwindled down to like $1975. to place a trade, you need $2000. so i wrote a check for $50 to get back above $2000 and considered my next trade a hail mary trade. well, i did the trade today and lost like $200.

    i really just don't have the money to continue. 0% of me wants to quit, but i just can't afford to send more money into my account, so i am for the time being, done. yes, i know a couple months ago i started a similar thread, but i found a way to get some more money, so i could keep at it a little longer. but now, i just don't know what the hell i can do.

    i can already see the responses now from dbphoenix, nkhoi, elcubano, etc. i'm looking for sympathy, blah blah blah. i'm gonna state right now, i don't care what negative responses i get in this thread. i really just don't give a fuck.

    that said, my (financial) life has made a new all time low today. i totally feel obliterated. i have put countless hours into trying to trade since 1999, i'm 25, and i have absolute NOTHING to show for it and i'm pissed. i'm gonna have to get a job and i'm probably going to get paid like minimum wage. who the hell is going to hire me when i haven't had a job in like 3 years? what am i going to say at interviews? "so what have you been doing the last 3 years?" "trying to trade, but i lost all my money." on top of that, i am going to be MISERABLE at some job. you people can have any opinion you want of me, but i am not someone who should get paid minimum wage, i don't care what anyone says. i'm gonna be miserable!!!!!!!!!!!!!!!!!!

    finally, i almost feel like the last few months i was really starting to understand the market. i may even have a profitable trading strategy but my account is just way too tiny to trade it. that's another thing that pisses me off. if i had an ok size account, i could maybe make at least what i'll make at some minimum wage job.

    once again, i am NOT asking for help and i am NOT looking for sympathy. i'm just posting my current situation and it sucks.
  2. what did you go to school for?
  3. Be positive.. How about paper trading your new ideas.. and when you have more $ put it to use.

    Many of the best traders .. have had periods like yours.

    I also quit trading for a few years in the beginning until I was ready again.

  4. A tip from a fellow broke dude: Buy an option and hold it. It will keep your account trading.
  5. This is simple: you can be a genious if you have no capital for trading there is no way you can do it. It's like for any business.
  6. You can always trade FX and you can do that 24/5.
  7. dbphoenix


    To the contrary, I'm completely supportive. I said a long time ago that you should quit. I'm glad to see that you're doing so.
  8. i went to school, but didn't finish. the main reason i quit was because i started to trade during the nasdaq top and i was actually making money. so i put school on hold. i told myself that if it is possible to do, i will just keep at it until i figure it out. i DID do that (i never quit), but now i just CAN'T trade because i have no money.

    while i was in school, i did do good 4.0. but i'm extremely lazy if i'm not interested in something. if a teacher tells me to read 4 poetry books and write a 15 page pager, i will just think in my head, "fuck this bullshit." on the other hand, if i AM interested in something, i will go at it full force. i would continue to trade now if i had the money to do it. i have not given up trading, i just am forced to stop.

    anyway, i went to school for computer science. i also took a bunch of web design classes. that's another reason i'm screwed, no degree. but, i have no one to blame. i made my own choices and accepted the risks. it backfired and now i gotta pay the price......
  9. bobcathy1

    bobcathy1 Guest

    Sometimes you need to walk away.
    This does not mean you are a failure.
    It means you were smart enough to know when to stop.
  10. just to be clear. i am not giving up. i am just FORCED to stop right now (can't place a trade at IB).
    #10     Jun 11, 2003
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