$32,000 In CC Debt. $7K Invested. No job.

I'm not actually a day trader, and I am listening to advice, but I think people are missing the point.

I am weighing the risk/reward balance of keeping the money invested and cashing it out. I understand that I can do everything, but I also understand that you can literally 10x it in a single day. I saw 2 of those trades today, and the only reason that I wasn't able to take advantage of one of them is because I had already made a trade for the day, and could not sell my position.

The risk is losing 100% of my investments, and being in the same financial position. 6 months to 1 year of bill payments before I can't pay, and a few of the cards intro periods ending, adding thousands more to my debt.

The reward is potentially being able to pay off all of my debt in 1 - 2 months of semi-consistent, risk-managed trades, or maybe I catch one of those incredible trades one day and am able to pay off my debt come Monday. Who knows. It is a risk, I understand the risk.

The reason that I am here is because I want a plan to tackle my debt without relying on my investments. Basically a plan that pretends that they don;t exist, so that if it does go badly I am not unprepared.

I have 4 weeks of unemployment checks building up so far, so I will be able to pay for the training either way. The training takes a month, giving me 5 months to find a job. I don't want to use up all of that time though, I don't want to continue paying the high interest rates. That's why I'm here.

/r/personalfinance Thread Parent