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Obviously you need a track record... Nice.

Oh, I thought 55% return. That sounds better.

So if you are trading family/friends money do you have to get a CTA license and are you considered a hedge fund? I heard also about seed capital firms like BRI Partner's in Chicago - What's your take on this route? I think you would get more money than from friends/family but who knows what...

This topstep seems more geared toward daytraders. It would be kinda hard for a swing trader to try to make the 8.5K in 1 month with the 100K account and a max drawdown of only 3K. Furthermore one requirement is that you: "achieve an Overall Winning Day percentage of 55 or greater" - Is that a joke?

Yeah whats the catch? Strings attached?

Thank you!

Wouldn't it be faster if you traded family/friends money at first and then after you had enough you could just trade for yourself? That would be the fastest route. But if that's not possible then I guess one just has to save, trade and slowly build it up like you describe. I was also thinking...

How does someone get the capital required to turn trading into a business? My guess is you need to start with at least $100K to be on the safe side. If you made 100% return a year and took out 50K$ out at the end of the year then your left with $150K which allows your account to grow. I know the...

Damn, I haven't been on here for 2 almost weeks.:) Thanks I will check it out.

You are the man. Can't believe this video is free. Watch this video if you want, you can learn a lot from it and its also entertaining.:): http://www.youtube.com/watch?v=QflVqavHHM0

For me a mechanical system is the only way. When I started out I had a mechanical system that I would enter the trade, set SL and TP and then go to bed. I made money this way. Then I tried day-trading/reading "PA" and it was amazing how I was able to lose so consistently. I coudn't handle it...

Bones, my point in searching for a way to figure out what a potential consecutive losing streak ones system can have is not to be able to have a "sure thing"(nothing is 100% in life) but to be able to know what is more or less average so that 1. when the losing streak comes you have confidence...

Yep. :)

Thanks man. That formula gave me 6.6 consecutive losses with50% win-rate system out of 100 trades. When I did monte carlo simulation I also got average 6 consecutive losses. Good stuff. You guys think this is a good monte carlo simulation?:

8 decks! Never tried playing Black Jack professionally so not sure if you can beat it with 8 decks or not. Shuffling doesn't hurt card counters though does it? Sorry I never was exposed to these card games growing up. Just recently watched the documentary about the MIT blackjack team and saw a...

Well from the looks of it, you look like your a real professional trader so I want to ask you: Trading is just a game like Black Jack? (Lol, I just learned Monte Carlo is a casino.)

Whats LN?

Really?(rhetorical) That's good and makes sense I guess. Because It doesn't make sense for you to get 10 losses in a row if you have an edge. Do you agree? If your strategy is based on flipping a coin then yeah I think you can get 10 heads/tails in a row easy. Idk... I didn't go to MIT.;-)...

You have a 0.25 Kelly. So see what your friends have to see who is the better trader!

I have actually a simply solution: The higher the Kelly, the better the system. I believe this is true.