I got $90K from credit cards, where would you invest?

Discussion in 'Professional Trading' started by misterno, Feb 22, 2009.

  1. Pay back the debt. Get a job.
     
    #21     Feb 23, 2009
  2. Vegas baby...Vegas!
     
    #22     Feb 23, 2009
  3. I cant wait for your next post 6 months from now asking " why was I such a dumb ass?" and asking everyone why you lost the money.
     
    #23     Feb 23, 2009
  4. Daal

    Daal

    Make a big bet on ES puts or something, if you lose file for bankruptcy and get rid of the debt, if you win pay it off on time and became a trader. Take advantage of credit card companies lunacies
     
    #24     Feb 23, 2009
  5. do us a favorplease, please post your FICO HERE IN 6 months....you will get a very rude surprise...hopefully readers on elite trader can learn from you mistake
     
    #25     Feb 23, 2009
  6. just make sure you get a 11 month cd and pay it back before the introductory 0% apr expires.
    If you lose track of time, all your profit will be gone when you get that 13th months statement.

    I know very little
    but credit scores seem so last year, I'd take $2700 and less credit over $0 and more credit.

    having a high credit score is worthless if your not going to borrow

    credit score changes pretty quickly it seems.

    once it's payed back the score woud go back up I'm guessing

    I'll add I think whatever logic they use is nonsense.

    but in contrast to 1-6 mortgages defaulting, carrying 90k in debt for a year and paying it back should look great.
     
    #26     Feb 23, 2009
  7. short amex
     
    #27     Feb 23, 2009
  8. eagle

    eagle

    Go to casino several times and play to lose only about 5-10K, and then file for bankruptcy specifying that you lost all of the money. Keep the 80-85K and put some where safe.
     
    #28     Feb 23, 2009
  9. I would stay away from this plan simply because the concept of borrowing to trade is a deathwish. this market is a professional market. Lets say you lose 25k how will you feel.

    I have been where you are and the feeling is sick the only difference is that I took it to Atlantic City and won three days and lost two days. Broke even net net.. Th eonly differnce was the blood pressure and blood sugar and liver changes from Alcohol.

    If you must trade 25k only and use margin. ALL or none if you lose it then you can pay it back.

    Please stay on the board and keep us posted. I am curious and I would like to sample you in my book.

    If you must I would buy 5000 shares of citibank. at 2 and 2000 shares of BAC, This is the best risk reward all or none trade. If you get a pop in the stock. Then you get a good dividend and when its up 150% you can pull the principal and let the rest ride.

    When times are good you could be making 7 grand per day.
    Good Luck
     
    #29     Feb 23, 2009
  10. JimYoung

    JimYoung

    CDS held at antigua banks are apparently safe bets these days.... Stanford financial should be able to hook you up
     
    #30     Feb 23, 2009