I was inspired to start this journal by this thread: Took out a loan to transition to full-time trading. 24 years old. The poor guy did not make it. I hope I will. I maxed out my credit cards (36% APR) and started day trading forex with $15K stake. After three weeks of trading I am down to $10K, however, I am not losing hope. I also quit my job for trading forex full time. I have a wife and kid who I need to support (wife not working). Our minimum living expenses are about $3K per month. I have $20K in my checking account. I gave myself three months to prove that I can succeed as a trader. I am aiming for $10K total profit by the end of the summer. If not, I will start looking for a job.
So hold on you were inspired by a guy who blew up in 2 months? If i were you i'd take your inspiration stories from successful ones... Not gonna bother giving you advice as you probably read all the advice given in that thread you were inspired by... and still chose to ignore it.
The fx market is open almost 24 hours a day. Why don't you trade before or after work? Why not automate your strategy?
I feel too much hope from your post. IMHO, It's really not a good sign at all. Objectively, would you invest in your fund ? What are the evidences that prove it's good business ? Would you invest this money with a stranger and these evidences ?
Clearly, some posters don't have a sense of humor, and Redsails will take full advantage of that. This will be amusing to watch.
Go get a full time job now, it will help with the stress, I didn't quit my job till I had seven figures in checking account, so irrational for putting your family needs in scary situation, what happens if end of three months, there is lack of jobs?
No, I am not a troll, not at all. If my words sound funny, that might be because English is not my native language.
I wish you well, but I also kind of want to stop you at the same time. Sometimes, you have to take that leap of faith...go out on a limb -- to accomplish things. But to take on credit card debt at 36% APR...that's kind of dangerous/foolish. You should save up a little first -- and besides, how confident are you in your abilities...
I was inspired by his audacity. The audacity of hope. Also, almost all successful traders on this forum blew their accounts in the beginning. Blowing account seems to be some kind of rite of passage for trading career, so I figured the sooner I do it the faster I become a successful trader.