So just like I said, over-trade, over-leverage. That's why you ended up $50k down. I mean seriously 50 trades a day, that's (roughly) a trade every 10 minutes if you assume an 8 hour day ... it tells me you were basically clicking away day after day with no real plan. Talk about pissing your money down the pan.
I didn't see it as wrong at that time when I was just a beginner. I though bigger positions = bigger profits.
Oh dear. Seriously man, like I told you in my first post. Leave the remaining $20k in the bank where you can't do any more harm to it and stay the hell out of the markets !
Well, if what you're saying is true, and forgive me for sounding a little terse, your father is a moron. I still have doubts about this story.
Funny, sounds like a troll but it gives parents around thinking of handing their kids money as soon as they are adults food for thought. No wonder many opt for buying them real estate, might not be the most productive use of money but it s harder to waste.
For a lot of youngsters that kind of money is very easy to blow in parties in a tiny fraction of a year, not quite convinced daytrading is a better way to lose those funds still.