Advice on how I should Raise Trading Capital?

Businessman said:
I have seen smart people attempt short term trading for 10 years, they never made any money at it.

But most people have the sense to quit early, within a few months or a few years, they know if they spent 10 years they would just be wasting time.

They are just not cut out for it.

Even if you have have an edge and patience to wait for signals, you still have to be able to take many losses in a row and be able to trade large size at some point, not many people have the emotional makeup to do those things consistently, day after day for year after year.

1) Develop a profitable game plan
2) Have the patience and discipline to wait for planned setups, then actually pull the trigger
3) Not get angry and upset about the inevitable losses (to the point you screw up your next trade)
4) Be able to trade larger size without fear

Most people are not even able to do step 1), which isn't even the hardest thing about trading.
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Hello Businessman,

Best post I read on ET all month from a manual trading point of view.
 
Businessman said:
I have seen smart people attempt short term trading for 10 years, they never made any money at it.

But most people have the sense to quit early, within a few months or a few years, they know if they spent 10 years they would just be wasting time.
More...

Please take the time to re-read my first and second post in this thread. I specifically said that 10 years is a good approximation for a retail amateur on his own in order to have a fighting chance at success. There's certainly no guarantees. If anything, I said this to give the OP a sense of realism and certainly not borrow any money to trade with.


Businessman said:
They are just not cut out for it.
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Fully agree.

Businessman said:
Even if you have have an edge and patience to wait for signals, you still have to be able to take many losses in a row and be able to trade large size at some point, not many people have the emotional makeup to do those things consistently, day after day for year after year.
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Disagree. If you have a good system, there shouldn’t be many losses in a row.

My whole point is that lack of capital isn’t the problem. Lack of skills/methodology is! If $14K was all the OP had then that would have been all he lost. Instead, he had $140K and lost all that. If he had $200K, that might have been his loss. There’s people who lost far more than the OP day trading or just trading in general.

The beautiful thing about trading is that if you do have a good system – you don’t need a huge capital base to build your account. Of course, most people don’t take the time to put that together and just want to get started and get in on the action. Usually, the outcome isn’t a favorable one.
 
margin_gamble said:
I did :)
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Is MG really praying for you?
Or deep inside his heart, is he cursing you?!?!
Is he a wolf in sheep's skin?

He might be praying that you die a horrible terrible death.

Go through all the MG post then you will know what is deep
inside his heart.
 
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WATER is 70% of the body. You can live without food for quite a while but without Water you stand no chance. Now look at AIR. Yeah! Get the picture?

Water: depressed? Take a shower, drink water and watch semi miracles happen. Flowing water soothes the soul. Why the heck do you think people are drawn to the beach?


If the greatest movie ever made had this concept of WATER & the SuperNatural that sent tickets soaring worldwide esp. in 3rd world God loving countries, then surely one would recognize that the actor did not even believe in the supernatural but was beaten down so badly - dying of thirst is worse than death itself - that he on some level deep down where he truly resides, threw up a last prayer of his life.

The answer was swift.



 
For op .....................


when, not if, the divine response comes, you will feel it in your chest first and then the whole body as your native confidence returns. You will be swinging again and it will then come to you that the $140k spent/lost was not lost at all but was an investment that is only now paying dividends. Fifty years from today you will calculate that cost of $140k to be under 0.00000000000001% of your nett gain as a result of suffering that loss.

Tuition is NEVER lost! Even when parents pay it but the kid appreciates it. But when one pays the tuition oneself it has magical powers

The threshold you will arrive at and cross is aptly named ...........


The Miraculous Intervention

Who is responsible for the arrival of this Miraculous Intervention? YOU are. Only YOU. YOu made it happen!

Take a bow, TREND REVERSAL is close at hand
 
When you are consistent profitable, the best way to minimize risk is to go with forex prop firms like FTMO or MyForexFunds. With your first profit split you get your initial fee back so then it is basically risk free what you can trade with them. The prop firm score is about over 6 times for MyForexFunds, so you get over 6 times your money as value versus own compounding on your own personal account. So you can profit from those forex prop firms, I also would not go with futures prop firms, because they all have trailing drawdown. With Forex props you get fixed drawdown. But first you should inform yourself about the market offers here and the rules, so that you are familiar with them when executing your trades. You do not get a better offer with raising capital than with those forex prop firms. You can scale over multiple prop firms to 2 million USD easily if you are consistent profitable. Then you have about 200k USD risk capital for drawdowns. And you can start with a small amount and then increase it gradually to scale it further. So the risk overall here is minimal. You will not find any better offer for additional capital.
 
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