:iagree: Then when you get in over your head, just declare bankruptcy and start over. Nowadays, I'd be real surprised if banks were tripping over themselves to hand out $15,000 unsecured personal loans and if they do, the rates are 15-20%. Just pay cash. Or put it on your card, get the points, and pay the balance off in full at the end of the month.

day trading yes. portfolio is newhere from 110-115k atm.

ok these r the stocks i bought and sold and the times that i bought and sold from the 18th to the 19th
LNC - buy - 12:33 pm 6143 shares @ 15.95 = 97,980.85 jun 18th
LNC - sell - 1:42 pm 6143 shares @ 15.99 = 98,226.57 jun 18th
WFC - buy - 10:18 am 1682 shares @ 23.66 = 39,819.78 jun 18th
WFC - buy - 10:23 am 2451 shares @ 23.62 = 57,892.62 jun 18th
WFC - sell - 11:23 am 4134 shares @ 23.74 = 98,141.16 jun 18th
CCL - buy - 11:28 am 3920 shares @ 25.08 = 98,313.60 jun 18th
CCL - sell - 12:33 pm 3920 shares @ 25.09 = 98,353.80 jun 18th
MSFT - buy - 9:40 am 2475 shares @ 23.51 = 58,187.25 jun 18th
MSFT - sell - 10:23 am 2475 shares @ 23.47 = 58,088.25 jun 18th
MSFT - buy - 10:11 am 4232 shares @ 24.17 = 102,287.44 jun 19th
MSFT - sell - 11:23 am 4196 shares @ 24.23 = 101,669.08 jun 19th
MSFT - sell - 11:43 am 36 shares @ 24.17 = 870.12 jun 19th
SIRI - buy - 9:40 am 101881 shares @ .41 = 41,771.21 jun 18th
SIRI - sell - 10:10 am 101881 shares @ .39 = 39,733.59 jun 18th
CI - buy - 3:23 pm 4167 shares @ 23.65 = 98,549.55 jun 18th
CI - sell - 9:58 am 4167 shares @ 24.92 = 103,841.64 jun 19th
KMX - buy - 11:28 am 6847 shares @ 14.96 = 102,431.12 jun 19th
KMX - sell - 11:43 am 6847 shares @ 14.89 = 101,951.83



yes ive seen that before, but unless i have a seriously bad trade and my 100k+ drops to like 10-20k i wont have to sell this car

also im paying out of state tuition at tx state, insurance, food, credit cards, and well everything else.
oh and car was paid for in cash so theres no monthly payments on that

EDIT:
Im currently in school to get my MBA so i doubt id ever work for walmart or any fast food place. also im making great money with the stocks (for now) so i might not need a fulltime job. its not guranteed but im making 5-20k a month (yes i have losses but overall im + every month) and the more money i make the more i can invest with so i make more. so maybe ill get a job to keep me busy but for now im gonna keep doing stocks til it doesnt work nemore

How long until you grad? Do you have solid job prospects when you do? Id wait until you graduate, then once your stable think about going all out. I could pay cash for the mods but that would clear out my savings so I think Ill wait until I go to Iraq next year and use that money. And think by then what advancements the mod scene would have for this car!

just started college :) so 4 + 2 for the masters as for a solid job my uncle is high up in management at J&J so hes got me a job lined up. i was also thinking of waiting til i graduate. id have less bills to pay then :p
ps. gl in irag i got a few friends there atm and 1 in germany

I call BS on your $5-29k a month. how about a screenshot of your portfolio?

So how much did you start with in your portfolio? How did you acquire this money?

My car is financed. Same with my mini van. Honestly if I had the cash to buy a 370 cash, I would of just financed a GT-R. Point is nothing is wrong with financing so long you don't have financing for a rediculous %. I still buy things for my Z, but pay cash for my mods.
If you can tell yourself you can afford your mods financed or not, so be it and go for it. Your responsible for your own decisions. Who cares what other richer or poorer people say...

Wow, this is exactly why we are in this financial crisis. I would get use to saying 'Would you like fries with that'.....

BTW I am only 27. I own 2 houses, 3 cars all paid off, motorcycle paid off, boat paid off and carry zero debt except the mortgage on my second house and I reside in Southern California.

Maybe because some people realize that America is in the trouble it is because people just HAD to have that $40k car, $15k in mods, and a half million dollar house all while making $40k a year. Kids seem to think they can afford something if they can afford the minimum payments. Problem is they live paycheck to paycheck their entire lives because when they were 18-25 they HAD to have it and are always in massive debt.

Once again, 90% of the people posting on ALL car forums are 25 years of age or under. I would say less than 5% of this age group actually has any sizable amount of money in savings, 401k, real estate, stock market, etc. etc. The one's who have 10k plus to blow on their new cars are more than likely being funded my "mommy and daddy" or are living at home working full-time jobs (pay zero for housing/food/insurance etc.).

Once this economic down turn starts to really take hold in the next 12 to 18 months there is going to be a lot of cars for sale............

That might just not happen. Remember that 90% of the stimulus monies are currently being held back until the "bottoming out" occurs at which time the monies will be released which will in essence relieve the fallout from the "bottoming out" when it occurs.

So in essence the release of the stimulus is meant to "bypass" the extreme sickness that would naturally follow the "bottoming out".

In theory it should work however it will only be once again delaying the inevitable MAJOR market adjustment that has been looming on the horizon since the fallout of stock market during the late 80's. It will just come later on another day....but make no mistake...it will come because there is only some many "fake outs" that can be performed before the reaper has to be paid.

Your point? You bragging or something? I finance my **** but surely am not living month to month. Your pretty much saying most of us in the U.S. Are lower than you for financing or something.

We are in this financial crisis because the government went and forced banks to give bad loans on homes. Taking a loan on things is NOT bad if you understand the factors involved. Such as with a car, it will depreciate over time, a home will slowly increase yet you must invest into it.

Agree with your premise but not your delivery. Stinks of bragging to me.

Big deal, I financed my Z. I have enough stashed away to buy it cash (or pay it off if I need to), but my rate of return on my stash has so far been +25% which even factoring in interest on the Z is +20%. It made more sense to finance for me. Ever think of that? Thats how banks make money, borrowing short and lending long + pocketing the difference. Works the same for us, the smart ones who dont over extend themselves anyway.

ETA: I see no recovery in the next 5 years and things actually getting worse, devolving into societal breakdown.

:rolleyes: Well...it's not that I don't believe you but I'd at least practice those phrases now and then.

Good luck...I think you'll need it.

scroll up and look at my trades from the 18th an 19th of june. do the math i made 5k profit on a single trade idr what my net gain was but trust me, day trading can make you lots. and i think u mean 5-20k. also if you dont believe me idc this thread isnt about me making money. i was asking a simple ? to get some advice which i got so maybe a mod should just lock this thread now

Apparently you missed the entire point of that post, good job reading between the lines.

I never said its bad to finance a car I was rebutting his statement of 'You'll be too old to get in and out of it by then'.

Because if you were making $5-20k a month you wouldn't be asking if you should finance $12k worth of mods at 13%.

once again thats not what im asking... i asked what most people do. also i would like an opinion b/c i use my money to day trade. if i payed it off outright id have less to use which means id make less. that would be the advantage of a loan in my case.

can u plz just stop posting on this thread? ur not answering the question which is the point of this thread ur simply being an annoyance.

I did answer the question, why would you pay 13% interest if your making that much in gains each month? Why wouldn't you just put 25% of yours gains a month away till you have enough? And if your making $5-20k a month your talking peanuts.

im paying out of state tuition for college thats 22k for fall and spring and another 4k for summer so thats 26k im paying car insurance as an 18 yr old with 1 speeding ticket so my insurance is high and various other expenses

and ya i can wait to save up but i was looking for what most people do. take out a loan or pay for the parts/labor outright

Do what u can afford. U shouldn't get a TT kit right away it's not necessary. U should get 2 know ur car 1st. Decide what u feel needs improvement. Don't mod 4 the sake of modding. I'm gonna start with bolt ons. It's a inexpensive way 2 gain a good amount of power. I will wait until next spring b4 I do that. Down the road, in 5-6yrs I will TT it. That should give me enuff time 2 save up 4 the kit. 2 take out a loan 4 mods is ridiculous. Get ur priorities straight. If u plan on keeping the vehicle 4ever like I do there's no hurry.

Sorry, my statement was ment more in the general sense and although you say in your first post you trade stocks, that means relatively little. Case in point, there is a man in my area who has been trading stocks for 15+ years. Long story short, he was running a ponsi scheeme and lost his investors many hundreds of millions of dollars.

Anyway, I agree with m4a1mustang. You are taking a big risk and relying on the market being able to return a larger percentage on your investments than the percent on your personal loan. In my opinion it would be better to buy the mods outright and then focus on getting solid returns without having that extra stress factor weighing on you.

Edit: Just caught up with the rest of the thread. If you can day trade and actually get returns that big then do it. Just be sure not to get in over your head.

Bunch of Blah, Blah, Blah. My previous post carries more truth than most of you want to admit...........

Roo, If you wouldn't mind, I'd like a PM on your money making skills ,lol.

Look guys; he's 18 years old...does anyone really think he is actually going to listen to your advice/opinions even when he asks for them???

Those of us a couple or more times 18 know what I mean...those that aren't will eventually know! :)

A line from one of my favorite all-time moves comes to mind "youth is wasted on the wrong people"!

maybe im teaching my roommate and my RA on the dorm here but the more people that know the less i make. but well see lol

just cause im 18 doesnt mean i wont listen to advice or opinions. i didnt ask a question so i can pick the answer i like most or have the right answer already.

I agree with you but I think the stimulus thing I mentioned will serve to skew the reality that will be happening that you speak of. It will create the usual hosue-of-cards effect.

Pyramid scam, multi-level marketing?:confused:

Well, I was talking to Roo anyway. I'm 25 and do pretty well for myself. Not to be too big of a prick but I wouldn't take advice from an 18 yr old on anything financially related.

pay cash or wait..

no pyrimid scam im simply gonna teach him the technique of what i do. hes gonna buy his own stocks using the advice i give him. im not going to tell him what im investing in either.

thats fine lol

Can you post a screenshot of your portfolio?

Day-traders keep bankruptcy attorneys in business...if you look in the dictionary for "day traders" is just says "see financial disaster".

The only actions more devastating to financial health is medical debt and gambling (odds are gambling is a better bet; pun intended).
:tiphat:

AK, please kill this stupid thread. :shakes head:

"Mr. Warren Buffet" here claims to have the magic stock picks in an uphill economy. :gtfo2:

What's your problem? Everyone is being decent in their responses so why terminate it? If you don't like the topic move on to ones you do...

LOL. Ok, the more people you tell the less you make? who are you telling? Bill Gates and Warren Buffett? The Sultan of Brunei?

I highly doubt you and your roommate and you RA are going to shake the market with your day trading. You could broadcast your intent in an ad in USA Today and I think your plan will still be OK....umm .... well...... maybe not OK but as good as it was ever going to be.

yes plz end the thread i asked a simple question and alot of a** holes came onto the thread to simply state their unwanted opinion which had nothing to do with the intent of the thread.



im telling my roommate b/c hes 1 of my good friends and so is the RA here. btw u both can :gtfo2: this thread ur stating ur opinons that i could care less about and not answering my original ?

edit: actually warren buffet is probly 40% of the reason im in stocks right now lol. idk if hes still the richest guy but hes top 5 for sure so y not does what he does? though he doesnt day trade

heh. your people skills are only rivaled by your mastery of the english language. to answer your original question ... how do people afford these things? most work and make money.

Perhaps you meant what method of purchasing do they use? pay in full or finance? go look up the word "afford".

if you don't want opinions don't make post bragging about how much you make day trading but can't figure out if you should pay for a small amount of parts or take out a loan to mod your car. A loan thats about half of what you claim to make a month trading stocks. :rolleyes: