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Day Trading with Borrowed Money
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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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