Ep. 189: Trading Advice: Should He Stop Trading?
I received a message from a 20-year old college kid asking for my advice. Should he pursue his dreams of trading? Or should he listen to his parents and quit trading?
"I need some trading advice:
So my parents just found out about my trading account and said to stop playing with money! But I don't wanna listen to them as I believe this could be the beginning of something really big!
They said you have to be really smart to be successful and I should focus on college. I'm currently 20 years old."
Soooo..... should he pursue his dreams of trading? Or should he listen to his parents and quit trading?
What trading advice would YOU give him?
Listen to this podcast and see MY reaction and what I'm telling him.
Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.
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