What are you going to trade so I know who to thank when you lose it? Trading stressful enough, but to have to pay 26% is insane, I had found people who save enough to trade nights or early morning before work actually eventually do better than the road you going down. I didn't quit my job till I had 3 mil in the bank, house paid, zero debt, couple side businesses going and house rentals. So I would have zero stress on personal life side. Build up reserves before quitting that job, you have to have health insurance etc....What happens if you break a bone in your mouse hand? If you are that good, do Topstep, then you wouldn't need funds.
Why didn't you just save $11,000 and start trading without borrowing $11,000.... with your salary you could easily save about $10000 in 6 months... Unless you eat out every night and drive a 6 series BMW.
Don't know how long you took that loan out for but if you took it out 3 years you would be paying $5000 in interest on that $11,000 loan over 36 months at 26%
http://uk.virginmoney.com/virgin/credit-cards/money-transfer-cards/ 4% fee on money transfers then 0% for 40 months.
Sure, why not? America was built on risk--- you really have very little to lose by going for it. Don't listen to these misers and nervous nellies. peace & good luck
Seriously speaking. If you are truly a good trader, you should realize that this whole setup is a very bad trade.
I will be the first to declare this,.... If you are truly smart enough to have a $60K a year financial job and save $9k then you have saved 15% of your income AFTER taxes to trade. Then you say you took out a loan for $11K at 26% interest that means at a $20K trading capital you would need to make at least 14%/year while under capitalized after interest and commissions and with no track record or serious posts on ET. My BS detector is on high!! Why not just save a bit longer for the full amount.