Advice on how I should Raise Trading Capital?

NoahA said:
What are your stats like? If someone says they are profitable, is it unrealistic to expect 10 ES points per day in profit average? Clearly with only 1 MES contract, this is $50. Seems like a small amount, but you also only need $2k in an account to trade it. If you can scale up to just 5 MES, you're now talking $250 profit per day, and I assume this is a nice income given the conclusion I am making about your frugal spending.

And if your stats are like this, then why on earth do you even need outside money? If you really can trade and have just 5k in an account, I don't see how this can't grow over time with trading the micros.

Now clearly, making $50 per day from a $2k account sounds like thousands of percent per year that you can compound, so this will break down at some point, but I expect a profitable trader to average more than just a few ticks per day.
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the math is so much better with a larger account. I could take my (current) account balance of $6,700 to about $150k in 5 years with current stats...or $100k to over $2m. I get that as money increases...so do the challenges, and I also know for a fact that I am being naive in the assumption that growth will be the same on $100k as $6k.

However, with the markets I am trading liquidity would not be an issue at all on that amount...I would basically just increase micro contract size organically until I reached full size contracts. It is possible.

And another thing is I am constantly getting better, I am putting the work in waking at 4:30 each day and really devoting the time to this. It's serious to me.

p.s. fu** ES lol...I just really struggle with the rhythm and avoid it. I do much better with crude and gold.
 
deaddog said:
After spending 140k on your tuition options trading why are you giving up?
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the honest answer is because I never learned how to trade options...and still don't know how. I was lazy and avoided the hard stuff. I tried to apply strategies better suited to equities or futures to options thinking the convexity would shoot me to the moon when in reality IV+theta smacked me into poverty lol.
 
hilmy83 said:
if you are really serious about trading then sell the house and live in a studio. Or maybe take a home equity loan. split that capital up.

Split that capital into 3, and just trade with one, just in case you blow it up too soon lol.

Otherwise, stick to side jobs/hustles to raise capital.

Just don't waste time with the funded programs. they are designed for you to fail, slowly
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Not willing to put my wife and kids through selling the house. Appreciate the reply I'll take the rest of it into consideration.
 
zghorner said:
After some success paper trading I decided to go live trading micros...actually doing the things you are supposed to do...and I am profitable.
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How long is your track record?

zghorner said:
...haven't worked since 2018
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Which means it's not more than 4 years, but your foray into futures is only recent by your own admission.

Unless you can absolutely prove that you're profitable, it would be a hard sell IMO.

Other than going back to work, your next best course of action is taking out a home equity loan.
 
op - have you ever had the opportunity to set with someone who is successful at trading. i was lucky enough to have some mentors that showed me how they trade their style in real time. though i don't use any of their methods it gave me a good grounding of what professionals really do to earn.

you might be well off to intern somewhere the action is.
 
schizo said:
How long is your track record?


Which means it's not more than 4 years, but your foray into futures is only recent by your own admission.

Unless you can absolutely prove that you're profitable, it would be a hard sell IMO.

Other than going back to work, your next best course of action is taking out a home equity loan.
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all true, I admit that this thread my be putting the cart in front of the horse a bit but started it anyway just to satisfy my curiosity. trading since June 2019.
 
MarkBrown said:
op - have you ever had the opportunity to set with someone who is successful at trading. i was lucky enough to have some mentors that showed me how they trade their style in real time. though i don't use any of their methods it gave me a good grounding of what professionals really do to earn.

you might be well off to intern somewhere the action is.
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no never have. I've never even met a pro trader in person.
 
zghorner said:
I could take my (current) account balance of $6,700 to about $150k in 5 years with current stats...or $100k to over $2m. I get that as money increases...so do the challenges, and I also know for a fact that I am being naive in the assumption that growth will be the same on $100k as $6k.
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How about you just double your account first and then come back and ask for money?
 
zghorner said:
no never have. I've never even met a pro trader in person.
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examples of real life

burger joint - people getting catsup in the tiny cups - then they watch me take a big plastic cup lid and pump 20 tiny cups worth in about 4 pumps and i'm done. with more catsup in seconds than they got in all those tiny cup in 5 minutes. eye opener

off roading - jeeps all backed up at a big wide river wondering if they can cross it, me flying by them doing 40 on a hidden sand bar i know is there. surprise

on and on in life we observe people do things we thought were difficult and some things are but a pro knows how to handle it. observation is critical to critique and alteration of the public mindset, that plagues retail traders.

otherwise you may never have enough money or time to be a self taught trader.

m
 
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