it's all image. judge a book by its cover mentality. don't be surprised if in a year he is running a hedge fund and being more surly than(mario) gabelli.
Geee.... From now on one doesn't even need to be a good trader to be a Swinging Big Dick, a high credit score is sufficient?? Of course Osorico was right, and you need to use CCs and any other kind of monthly payments (insurance, rent, big item purchases,etc.) to build a good credit score. By the way just because you have a high score that doesn't mean you know what builds a high credit score, it simply means that you have been paying a few CCs on time for an extended period of time....
JMowery, just take a look around (i think someone had already recommended this) and see what you can come up with. you might not even need a credit card. it might not be a bad idea, but its probably not the only option (ive never used a card before). i was able to get my own apt in seattle when i was still in high school and im pretty sure i didnt have much of a credit rating at the time, so who knows? find some decent places and put in an application. it'll all fall into place. best of luck, jm
At my first apartment in manhattan, I tried to pay my entire year up front; I had good credit, but just not enough income on my previous year's tax return to qualify for the minimum requirements (but had made more than enough that current year). It seems upfront payment is not a legal option for certain landlords, regardless of what your credit is. I had to tie 50k up in a letter of credit for a year before they were satisfied. On subsequent leases, I had my accountant write up a letter stating my average income for the past X years. Do what others have suggested and just look for a place that needs roommates.
JM, The reason that your not in full swing as a trader is because your unconscious self image has not adjusted with what you already know about trading, and you are prisoner of your own self image to prevent you from achieving the heights that you know are possible. Thats why I advocated the radical approach - many successful people made it when they went to a completely different place, with completely new surroundings. It is as if you are reconstructing the external world to fight/reprogramme the self image that you have. Thats why I think you should go to a completely new "cheap" country for awhile and get into the immersion phase. Please don't mistake this as a "be damned everyone" approach - it's just that if you want peak performance you need to be serious about it. Someone said that the headache of rent will be a negative in your trading, and that is true. Friends, family etc. will always reinforce the mental construct that you have of yourself at present. Thats why if you go to a cheap country for a while and prepay everything for a year - you will not have that headache. People who remind you of your present self will have less contact with you, giving you a chance to focuss on your game and rebuild your inner world. Treat it like an athlete would treat training for an Olympic event. The biggest obstacle to trading is our unconscious self image - make no mistake - it acts as a magnet to attract whatever your lot in life is.
Deep stuff, and very true. Although I'm wondering why no one has suggested to the kid that he try getting a college education first before everything else. Trading this market is like shaving with a blunt razor anyways...... he won't be missing much and just might be able to broaden his general out look on life in general. Youth comes only once......seems to me the kid is wasting most of it.
I had been taking local community colleges at night while I was in high school. Only have taken a few of the basic classes, not sure what degree i'd like to persue, but I like music. I'm still not sure , but once I figure out I'd like to transfer to a bigger school. I did take off this semester and will take off the summer semester to continue my trading and focus on it 100%. Will take online classes for some more of the basic classes I'm taking, like history and math. Hopefully that will work out.
Your first priority in life should be to get the best education you can afford yourself........forget about piking at some no name retail prop/chop shop and thinking you're some big time trader. Forget Music, study something that actually pays and can't be outsourced......knowledge you can use later in "actual" trading when you have a few 100K saved up and paid off your house and have other income streams to support the habit. Study Finance/Industrial Engineering/ QC/actuarial sciences/CS , while in college work on getting a job on Wall St. that will give you access to pro traders and get paid to learn this business from the inside out.....from real pros who move the markets. If you don't have the means to go to a decent college, join the army/navy/coast guard/etc and they'll pay for it. You seem to lack correct guidance and structure in your young life......maybe they can help you to lead a disciplined life so you can be all you can be.