It's catch 22, no money, but trading can pull in money. It's a dangerous spot to be in because the urge to trade is very strong and beacons an escape from financial problems where in fact it can lead deeper into it. Humans have a weakness in believing we are better than reality. Another thing with trading, we can become too fixated on it to the detriment of other activities we should be attending.
I live in NYC. ICYMI, rent here is very high...living expenses in general. Doing an evaluation + a few resets is not the equivalent of a studio apartment in Queens. Even without the evaluations, I would be 3 months behind rent as I unfortunately am. Not my ideal situation as well, but within the next few months I should be able to pay back - post being funded.
Thank you for your candor and ruthless honesty. Stealing would be staying until January 2021 since there is a rent moratorium right now in NYC due to a "little something called the Covid19 pandemic)
Some comments remind me of a conversation I had with coworker years ago, I said to him, "you should lose some weight." He replied quietly but sternly while frustratingly shaking his head, "I KNOW I NEED TO LOSE WEIGHT." I got it. You all don't think the OP knows everything you've mentioned. Do you think his mental response to your posts was, "really ... facing eviction is a bad thing?" The man is sitting at a poker table, in the middle of a hand, and having to listen to grown men tell him how screwed he is. Have any of you ever been in high stakes situations? Or any sort of competition that requires mental focus? He has a chip; and a chair. That's it. No gas money. No hotel money. Stopping the gauntlet just to pay one more month of rent doesn't change the situation. Landlords know the risks. So did OP. Take him under your wing, and teach him all your wisdom about life ... after he finishes the hand please. Just my opinion.
@userque Life is about taking calculated risks, not absurd risks with severe downsides. Going to the casino and betting your life savings on red five times in a row is not a strategy. Sure you can win, but you're setting yourself up for failure. Don't go in so weak into any situation that you're all but guaranteed to fail. Then there's opportunity cost. Look at the guy's posts. Sep 11, 2019 he said: "A few months ago, I decided to quit my job to do this full-time 100%...day trading that is." Since that time, he's messing with the try out firms, subjecting himself to overly tight rules that are designed to make him fail even when he has an edge. Yesterday, he said his job made him six figures in salary. A forgone opportunity to make >$8.3K a month in order to maybe, at some point, get access to $4.5K in drawdown allowance? Because that's all it is. How much better would the guy be off with a job and $10K saved to open a real trading account at a real firm. Then keep the job until trading does pay bills.
Sure removes a huge amount of stress. Keep a real job and train/trade in spare time, that's how I did it. Trading is a very tough business and unforgiving if it's your sole income, for someone starting out.
I appreciate everyone's feedback. In my book, there are no negative comments when complete strangers are posting their thoughts on a thread that I started, inviting both criticism and support. I might be stupid, but I am not dumb. Leaving full-time work was a calculated risk. Unfortunately, I am the type of person who needs to be in an "all or nothing" situation to succeed. I've always been like that and have quit everything I started (even my MBA). Trading is the only thing in my life that I kept on trying and never quit. As a result, from my "funder company accounts", I am net positive on my ROI. Unfortunately, I lost it all swing trading because I did not have the stop loss mentality - which I kind of do now - thanks to these evaluations. I learned risk management from these evaluations. Unlike people who pretend and pose to be traders, I put in my dues and am now ready to achieve all my goals. Normal people would not do what I did. Scared to. Too smart to. Whatever the reason, they will never wind up being the top 1% in life. Nothing wrong with that. The richest person in the world is one who is happy with their life and has a large caring family (IMHO). But then again, "normal" people do not become the top in their field (usually) because they have other priorities in life and I can appreciate that. Not everyone can be a world champion, President of their country, CEO of Fortune 50 company, etc. Anyone who knows truly successful people know that they did the "crazy"... all the odds were against them ... but they decided to cross the Rubicon when they were "ready" to claim greatness and improve their life. Not only did I cross the Rubicon but I decided to burn the ropes to the way back. The Die has been cast. But for me, the only priority in life is to make shit loads of money as a trader, and do non-profit in my community. Period. With the exception of milestone events, this will be my last post in this thread. I do not expect people to understand my actions. Not necessary. Not even a thought. But what I do expect is for people to be real and post their honest thinking for which I am grateful. All this will only make me stronger. Thank you all.
@LongShot, I believe you mean well. I'll try to rephrase it. Stop living in the past. Your (and other's) whole post is about what "He" should have done, and not done, in the past ... wudda, cudda, shudda. He knows better than you what he shudda done. He's is facing the consequences of not doing what he shudda done. He knows how much his salary was. He knows how much he cudda saved up. He didn't come here and say, "Hey guys, I don't know what happened to my life, and I hear you all are life experts, so please tell me what I shudda done, thanks!" He said, "Hey guys, I'm against the ropes. I'll either make it, or I won't. If I don't, I'll bounce back somehow. But here's my current status ..." Tell me. What in your post do you think he didn't know immediately prior to reading your post? What makes you think I don't know it as well? I'm not giving advice about what he shudda done because that's irrelevant; and could be a distraction to a man in his situation. He can't change the past. And everyone stating the obvious ... is not a good look. In life, in chess, in poker, all of your past moves are irrelevant. You can't do anything about them. You play the hand you have, to the best of your ability, period. That's where we're at right now. Yes, everyone's "Mom" advice is correct. Nothing in my post argued against it, though I appreciate you wanting to explain it all to me. And water is wet. For whatever reason, he is where he is. If I'm going to be helpful, I'm not going to be lecturing the man about how much better I would have lived his life--and possibly screwing with his mojo--while he's sitting at the poker table, all in, holding only a chip, in a chair. But that's just me. I said/say what I did, not in an attempt to educate you or the other commenters, but to let the OP know that at least one other person "get's it," "get's the HERE AND NOW," for whatever that's worth. I'll let you guys get back to preaching to the man, about how well you wudda played his first hand, while he's in his last hand.
You see what you want to see. My suggestion actually was to get a job, i.e. in the future, and keep it until trading pays off. The guy's posts suggest he's not unemployable, rather he was making decent money.
You don't think he knows that getting a job is an option. You don't think he knows that he could keep it until trading pays off. I see what you wrote: "Mom" advice.