My Story Trading as teenager, lost $50000 daytrading futures

Discussion in 'Trading' started by RichTrader98, Mar 26, 2017.

  1. There's some value in some TA when used in combination with other methods.
     
    #71     Mar 26, 2017
    Visaria likes this.
  2. Thats a painful suggestion to take. In my experience traders who lose money do not want to hear that advice until that is the only choice left.

    I'll give some different advice if he doesn't want to get a job. Take some of that money, maybe a few thousand, and actually take some classes on how to trade. And when I say take classes on how to trade, I don't mean give money to those guys that give you "picks". Find one of those day trading schools where the teachers will critique your trades. I mean, if you keep going the way you're going, you'll lose the full $20k anyway, so it doesn't hurt to actually try to get some help.
     
    #72     Mar 26, 2017
  3. Okay, Can you suggest someone. Is Online Trading Academy any good?
     
    #73     Mar 26, 2017
  4. stop commenting on trading; you're a terrible trader; your futures trades are all losers

    the only reason you're not totally broke is because you sell bullshit to suckers
     
    #74     Mar 26, 2017
  5. LOL, you are such a troll! RichTrader98 is part of the new class of "time waster" trolls. Let me guess your next questions RichTrader98, "What is a good computer to go online with?". "Is America Online a good ISP for trading?". "Should I use a Limit Order or Market Order?" LMAO! Comedy Gold!
     
    #75     Mar 26, 2017
    Nereto, i960 and wrbtrader like this.
  6. As you can see Rich, this guy still thinks there was a recession in 2016. No wonder he is ticked off. LoL!
     
    #76     Mar 26, 2017
  7. Overnight

    Overnight

    This is where your fell down, and what inexperience (and part ignorance) serves up.

    Sure, bigger positions = bigger profits. 2A+2B = 2C (-2D)

    But it goes the other way on every trade. Bigger positions = bigger losses.

    I am telling you... For the love of all things Holy, if you are intent on continuing your futures trading with real money, then from here on out do it in the micro markets until you build up a trading plan/strategy/technique that suits you. I highly recommend MGC for micros.
     
    #77     Mar 26, 2017
    comagnum likes this.
  8. We should try to avoid negative comments and people.
     
    #78     Mar 26, 2017
    marketsurfer likes this.
  9. wrbtrader

    wrbtrader

    Hmmm...seems like you're looking for advice that can keep you trading and remotely possibility of you making back that money.

    Go to college, get a part-time job and start paying back the money assuming it was only a loan and not a gift of 50k.

    That is a positive comment (nothing negative) and it allows you to mature about money.

    Does your old man trade or work in the financial markets ?

    Did he know what you were going to do with the 50k ?
     
    #79     Mar 26, 2017
  10. Okay will trade some micro's. I think they will be better than paper trading.
     
    #80     Mar 26, 2017