You probably won't listen anyway, but you should QUIT. Actively trading the markets and making money doing so is an arena for professionals, not pimple-faced teenagers without a job who came across some money. You should get a good education and a job. If you insist on trading, you need around 3-5 years of intense research and strategy development prior to start trading again such that you know what you're doing. But it seems like you won't do that.
Yeah, you'd think so! But someone that takes out 10s of thousands in credit card debt to trade with and then get margin on top of that doesn't really make the best financial decisions.
Many have given you the solution but it seems you're stubborn or not willing to listen or maybe you're listening (reading) and have already decided what to do next. Just keep in mind that there has been other threads like yours in the past and they too got the same advice... 1) Stop Trading 2) Get a job (some retail traders I know have a job while trading to take some of the stress away when trading). Lots of young people your age work in grocery stores, fast food restaurants or retail...you can still learn about the markets but no trading and be diplomatic in paying back a specific amount of your debt...kind'uv like what some do with creditors (e.g. you owe 30k and the person agrees to get back 20k because they know you're in financial difficulty). 3) Never buy allow anyone to give you money again unless they/you understand (sign an agreement) the money is used for trading (not investing) and that you're not obligated to pay it back if you lose it...rich parents do such. 4) Commit a crime to raise money Oddly, you don't answer questions involving this which may be why many thing you're a troll. All the other threads like yours...they too didn't want to discuss this aspect involving why would someone give them for trading purposes under what agreement and terms. Heck, at least one guy admit "taking the money for trading purposes" from someone that thought he was going to use the money investments. Yet, the fact that you feel you need to pay it back implies the money was not a gift...its money you borrowed with an agreement to pay it back or you told some you would share the profits without proof to that person you're a profitable trader. If the latter, your father and you should stay away from the markets. Yeah, there were others that gave advice too that's along that lines of keeping you trading... 1) Change your method 2) Learn about risk management, money management or whatever...then go back to trading 3) Keep trading but do it in other markets 4) Read/learn the strategy thread sections at this forum 5) Blindly follow strangers at this forum when they make signal calls even though they may not have the same invested risk or any risk at all 6) Go to one of those websites were people raise money from donators that feel sorry for them. Yet, those sites want to see some kind of proof. Reality, some reading your message are thinking you're here for someone to spoon feed some method that you foolishly believe is the holy grail and will make back the money you lost. If that was really the case, you would have started posting here in the threads involving those that have shared their trade methods (100s of threads here at ET where folks have shared their method). Others have read threads like yours before. They think ET management create threads like this all by themselves to have controversy. Why not believe such considering other forum owners have admitted doing such. Simply, you got your solutions...please chose which one you want.
Actually, take the $20 K and go to Vegas and spend it on hookers and blow. You will feel better than losing it trading
We all know this is an epic troll thread. Prove it isn't by posing a screenshot of your account showing the 50K P/L Remember to blank out your account number. If you do that i will give serious advice.
I'm pretty sure he's moved on trying to convince he lost 50k of his dads money to the eliteblackjackplayers forum now
Like another poster said, I think you scared him away, @peilthetraveler. He would rather face bankruptcy and living on the street than facing you.
You lost $50K trading and only have $20K left? The usual advice in these cases is to send me $10,000 and I'll kick you in the nuts. Then you must quit trading. The market would do the same thing to you, but I just saved you $10K! You're welcome...