That deserves a standing ovation C.T, well said!

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Danos78

62 Posts.

24/06/16

07:49

Post #: 18108309
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Originally posted by ClownTrader ↑

Hi Zach,
I had been in a similar situation many years ago. I wanted to get ahead... quickly. I only focussed on what I could make, and didn't want to think about whether or not I could handle the consequences of things going sour- I was just so sure that I was going to quadruple my money. Unexpected things can go wrong. They generally only seem to go wrong to people that take irresponsible risks (Murphy's Law). I have been there. Cost me 100's of $k.

If you feel you can truly handle and shrug off the consequences of things going wrong, and feel the risk/reward is good then, only just then, maybe, consider it. Some here, or perhaps your friends, might suggest $5k is small fry so just go for it. Don't listen to them. For a student like yourself, it has the potential to make your next few years miserable if you get stuck holding a loan with worthless shares. The years of your life are valuable/priceless.

My experience tells me that it is not worth putting yourself in a position that will cause you years of regret and pain if it goes wrong. It is better to be 'poorer' without debt, than spend a chunk of your life stressing and wondering if the debt you are enslaved to, will ever give a return.

Yes RAP looks incredible, but other opportunities will arise.

There is no wisdom in impulse: you might have a win with RAP, but you will lose it on the next trade or so with that approach- a risky win often emboldens people. It is hard to undo bad habits. Self discipline is the key and rewards in every aspect of life.

I recently encountered an accountant, who, until recently was doing well. He has quite a few children and grand children. House was paid off. He took out a massive loan for seed capital venture. He envisaged making millions- had done all his research. The IPO fell through- he lost it all. Now he is back to paying off a massive/mortgage equivalent sized loan and he is getting closer to retirement.

He walks around with a long face these days. I am certain he regrets pursuing the chance to 'kill the pig' and realises he should have remained content with what he had. Debt is a yoke of slavery. Much better to have a light load on the shoulders; don't have to be rich; just much nicer to wake up with a clear head and a smile on your face.

Cheers CT

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That deserves a standing ovation C.T, well said!

RAP Price at posting: 37.5¢ Sentiment: Buy Disclosure: Held
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