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Day Trading with Borrowed Money
Excerpt from: Day trading newsletter Issue No. 015

Day Trading with Borrowed Money

Chris,

I read the tips on day trading. I qualify for everything except the risk capitol. I am 48 and just quit my job (7 days left)... only a few months before the company was to be sold. I have borrowed 50,000 against my house and plan on paper trading for two weeks before trading for real... I will let you know if I am still in business next month. I appreciate everything you say, but I really do not have any other prospects. This is just something I have to do.
Frank G.

~~~Christopher's Response~~~

Frank,
Please do not trade with borrowed money. If you would like to stay in touch we can discuss the reasons why. If you have found value in my articles and answers on Daytradingworld, I urge you to consider the value of my statements here.

There are many things that you can do for work as you learn to trade. Ask yourself what your prospects will be if you loose your 50k. You can begin to trade with 2k of risk capital and in doing so learn everything you need to succeed. Trading is not a fantasy gamble. Pro's make their living off of the amatures. Get rich slow or get eaten alive. Trading on borrowed money is a loosing proposition.

Follow up

Chris,
I wrote you a few days ago. I am taking your advice into account. I have sent away for a home study course...

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