Took out a loan to transition to full-time trading. 24 years old.

Discussion in 'Professional Trading' started by wabu27, Mar 14, 2016.

  1. Don't borrow money. Get yourself a(n additional) job to generate more income. And reduce your spending, thus resulting in more savings. Start trading once you have accumulated enough savings, and be prepared to lose it all.
     
    #541     Feb 7, 2018
  2. Copy that LacesOut :) Actually Fan27 also has a good point re programming. I may create and license a program via e.g. Quantopian. There's more than one way to stay involved with some aspect of trading. I just have to suppress procrastination and do it.
     
    #542     Feb 7, 2018
  3. Man I sure don't like the last part of your last sentence HobbyT. :)
     
    #543     Feb 7, 2018
  4. I'm simply trying to suppress over-enthusiasm, if any of it is still remaining. :)
     
    #544     Feb 7, 2018
  5. %% Well, Ok ;
    just because many borrow for education. Leverage is worst way to learn, but most value an expensive education so OK.[LOL] Its like medical science/+:caution::cool:[Edit note- not all borrow to get a medical education and did you read what you wrote?? '' in the long run lost it. [money... but end of year lost it'' WA 27,You may have a talent for trading ,congrats but double check you writing. Close price is real important, day, week mo, year; hi + low can hint.....]
     
    Last edited: Feb 9, 2018
    #545     Feb 9, 2018
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  6. Humpy

    Humpy

    Last post by wabu OP Oct 3rd.
    Let's hope he is being sensible now and saving up for another try ??
     
    #546     Feb 10, 2018
  7. I do have to advocate for the lad in a sense, you can't honestly build up enough savings in this day and age to do it right IMO (at least for most people). If you are working class, you are in a system gamed against you as far as living expenses on the rise and so forth. On the counter weight, I would say his interest rates are really high and undo-able. If you can secure funding at around 4 1/2 percent interest or below APR, I would say that is do-able, and have fun doing it.
    Another factor is the time and losses it takes to really prototype a trading system. I recommend Mark Douglas' presentations on the matter. I'm in the same boat myself honestly.
     
    #547     Feb 11, 2018
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  8. Humpy

    Humpy

    Some will give up and some keep going on free demo programmes.
    I would definitely advise against borrowing to trade before profits are consistant.
     
    #548     Feb 11, 2018
  9. I would definitely advise against borrowing to trade PERIOD.
     
    #549     Feb 11, 2018
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  10. ironchef

    ironchef

    For us ordinary folks, rather than taking out a loan to trade, it is better to save then trade. Yes, it is difficult but trading is hard enough, having a loan hanging over your head makes it impossibly hard.

    Best wishes.
     
    #550     Feb 12, 2018
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