Well here the point is that It took me almost 3 years to find a winning strategy method that is tested. So lets say its a decent winning plan. I just need the capital. What do you recommend me?
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About financing for trading
- Thread starter JFL
- Start date
you say it’s hard to get OPM, thats basically the reason of this post. Could you please tell me what are the options for OPM that you know? Just to evaluate if they are realistic for me?
1. friends and family
2. Join a firm for a payout
3. start your own firm and solicit strangers for funds (#1 but harder)
If those three options aren’t available or you are unwilling or unable to put in the work, then get a job and save enough to trade
I TRADE cfd nasdaq Index. 1 micro lot in the funded account going 80 pips against me is like the daily loss these accounts allow. Check what padutrader said in the first reply. I agree with him that these companies offer unrealistic conditions.Again, i'm trying to understand how are you having a successful system when i read your first post. How can a trading of 1 micro lot cause you any problems with daily loss limits?
Also, you said you trade intraday? And can have a 80 pip drawdown intraday? Surely, this isn't SP500 you're talking about?
Are you strictly trading FX?
How can I have a method that works? It took me 3 years of losing and learning to read the market. After testing It for months and making over 100 trades results are very positive. So this is why now i am going to the Next step of finding a good capital to start.
Well here the point is that It took me almost 3 years to find a winning strategy method that is tested. So lets say its a decent winning plan. I just need the capital. What do you recommend me?
Networking. Being on these forums, have conversations with people on voice or in person. Don't think your strategy allows for this, but trade real time with people on voice / screen share or in person and explain the trades you're taking. This is very under rated, most people even successful traders absolutely fall apart if they have to trade real time in front of people. If you can do this it's an immediate separation from the pack, particularly if you're working with someone who actually understands trading and is looking for talent.
Join discord rooms related to trading, try other trading forums. Get involved in as many communities as you can. Join a trading community in your area that meets up regularly get to know people show your knowledge and explain what you need to be successful and why you need it.
Again not saying you'll find someone tomorrow, but if you put in the work your odds greatly increase.
About the second option? Could you tell me more? I have no knowledge about It.1. friends and family
2. Join a firm for a payout
3. start your own firm and solicit strangers for funds (#1 but harder)
If those three options aren’t available or you are unwilling or unable to put in the work, then get a job and save enough to trade
Hello everyone.
After spending some months testing a strategy, I see that it has good results and is stable and consistent. Now I face the following problem, I need financing because I do not have capital to be able to make a living from this and take advantage of my method.
I know of the existence of funded accounts, but only from the futures market. Sites like earn2trade and similar offer funded accounts. The problem is that they are not compatible with my method. They are accounts for the futures market, and they force you to open at least one contract, which consumes a lot of money, and in many cases would make me reach the daily loss control. Something that does not happen with the CFDs in which I operate. It is very common for me to open a trade, go to losses worth 80 pips and then end up closing the day at 80 pips in favor. Well, with these future markets funded accounts, a positive closing day would be a negative negative day. Because those 80 pips would already make me reach the daily stop loss allowed.
Do you know of funded accounts for CFDs, or ones that are more suited to my intraday operations? I get the feeling that these futures funding accounts only serve for very limited scalping operations, since if in one hour there is a large movement against you, you will reach the daily stop loss allowed.
The other thing I have thought about is Darwinex or Naga-type pages, where you receive money from other investors, but of course this only occurs if they see that you have a profitable history of at least (in the worst case) a year. And although I do not rule out this option, I would like to know if there is any way to have more immediate financing, such as a funded account for CFD
Greetings
CFDs are a bucket shop. Nobody on the planet is going to give you a substantial sum of money to conduct "intraday operations" in a bucket shop.
The honest-to-God best advice I can give you is to forget about trading for a living. You feel like you're on kilometer 30 of the marathon, but in reality you've barely taken one step. If you are serious about becoming rich and successful, consider that the time you waste thinking about trading could be used instead to obtain more education, grind hard to advance in your career, or start a business or side hustle producing actual value for others.
It seems like a lot of you approach everything from strictly academic perspective only. On a balance of probability you’re correct, but still over stating how hard is to trade OPM. Most people can’t trade, but a lot of people are still interested in being involved in the markets for a multitude of different reasons and due to that there’s a lot of money out there looking to be traded if you actually have skill. The lack of money isn’t the scarce thing, the scarce thing is an actual decent active trader. It does take a lot of networking and effort
no doubt. Still it isn’t as elusive as everyone generally claims on these boards.
It's abundantly obvious that there are huge mountains of capital available to anyone with a decent track record, better yet if they have a pedigree & professional cred. On the other hand, 99 out of 100 (or maybe 999 out of 1000) of these kinds of posts on Elitetrader are ordinary middle class slobs who've had a couple of profitable weeks point-and-click trading chart breakouts on sim or forex/CFD bucket shops. In that sense, you can say the funding options for them are "elusive".
Accordingly to what I have seen in Darwinex.com and similar, there are many traders with solid records over years that works with cfd and make a living on thatCFDs are a bucket shop. Nobody on the planet is going to give you a substantial sum of money to conduct "intraday operations" in a bucket shop.
The honest-to-God best advice I can give you is to forget about trading for a living. You feel like you're on kilometer 30 of the marathon, but in reality you've barely taken one step. If you are serious about becoming rich and successful, consider that the time you waste thinking about trading could be used instead to obtain more education, grind hard to advance in your career, or start a business or side hustle producing actual value for others.
I TRADE cfd nasdaq Index. 1 micro lot in the funded account going 80 pips against me is like the daily loss these accounts allow. Check what padutrader said in the first reply. I agree with him that these companies offer unrealistic conditions.
How can I have a method that works? It took me 3 years of losing and learning to read the market. After testing It for months and making over 100 trades results are very positive. So this is why now i am going to the Next step of finding a good capital to start.
depends what you mean by unrealistic conditions but daily drawdowns aren't one of them. Even trailing drawdown isn't one of them.
Choosing a 100k account with E2T has a daily drawdown of 2200 usd. That's 4400 ticks with the Nasdaq micro. Choosing 200k account has double that. So, that isn't a concern.
How can I have a method that works? It took me 3 years of losing and learning to read the market. After testing It for months and making over 100 trades results are very positive. So this is why now i am going to the Next step of finding a good capital to start.
Okay, So what has been the result of these 3 months? What are the gains, how much was max used margin and what was the max OPEN drawdown (open losses not closed losses) during this period? Thanks.
The fear motivation of not losing OPM is not the kind of motivation a noob needs.I... You'll also be more motivated to make it work.
They need a job with a reliable sustainable income to then take on trading risk.
But that's obviously not what they are looking for.