You are sitting here with a winning hand, and instead of doubling down on it, you are going to the horse track to bet on a long shot.
Advice on how I should Raise Trading Capital?
- Thread starter zghorner
- Start date
Any money placed in the business has a higher probability of profits no doubt, it's not neglected. As to pouring 100% into that, I like trading.
Trading or gambling?
Trading. I do not like casinos. And I've learned my lesson the hard way not to gamble in the markets. Supreme pain.
"oklahoma and oklahoma (if it wasn't for family...definitely somewhere else lol)."
The state is not known for a ton of backers. IMHO, I don't think you're gonna find capital, but you might hit with a backer who runs a shop and you'd start the bottom rung. Head south to Texas and it gets a bit easier. Do a Bloom search at a library with a machine.
Don't pigeonhole yourself into a product and go live your ambition. Austin is a veritable bag of capital looking for talented people - go search a Bloom.
The state is not known for a ton of backers. IMHO, I don't think you're gonna find capital, but you might hit with a backer who runs a shop and you'd start the bottom rung. Head south to Texas and it gets a bit easier. Do a Bloom search at a library with a machine.
Don't pigeonhole yourself into a product and go live your ambition. Austin is a veritable bag of capital looking for talented people - go search a Bloom.
My god, man, grow up. You have a family. Of course the dream about being a trader is so appealing. But there is a reason why 90% of traders loose money and othet 9% barely make enough to keep trading. Only about 1% make more or less good money.
Majority of people that make money, do that not because they stare at charts every day and trade on demo day and night. They make money because they know how to properly backtest. And when I say backtest i do not mean eyeballing a chart, but properly backtest with coding using decades of data. Plus a real intuition behind the strategy, not just data mining.
I do lots of backtests, and i can assure there are lots of strategies that can make 200% on a particular year but next year they can make -90% loss.
If you wanna have a more or less good future for yourself and your family give up on the dream. And of course you didn't not come here to hear discouraging sh*t, and with highest probability you are not gonna listen to me. But please do it for your family, man up go get a job.
It is a media bulsh*t that everyone is destined to achieve something important in life. There's a chance you can achieve something only if you work hard, and if do things that you don't wanna do.
Trading isn't hard, it's easy and that is why everyone wanna be a trader. Don't fool yourself that you are working hard by trading, you are just having fun. Work is hard - you don't wanna do it. Trading is easy - you wanna keep trading. BUT being profitable trader is incredibly hard, otherwise everyone would do it.
I will add to my last post that I have also experienced Supreme happiness while trading...it hasn't all been bad, my old style of Trading produced some crazy home runs like trippling my account in days...but it is not sustainable obviously...my position sizing and capital preservation skills were below ass. Big gains, big losses betting 10% of my account on single trades at times lol...then trying to "trend trade" options using equity based rules like a true genius lol...then spreads were just as bad to me because I was a complete sucker. It's embarrassing but the truth and all I can do about it is move on.
Also, I can see why a few are giving me a hard time... it is kind of arrogant to start a thread raising capital...after absurdly humongous losses...and barely being profitable lol. I agree with other posters that i should just start with doubling what I have before I worry about adding anything to it.
Lots of good advice given, ET can be excellent.
How did you lose your account anyways, specifically, technically?
What were you trading? How were you trading? Ticker symbols, timeframe, hypothesis/analysis, etc etc misc misc
There's nothing wrong with buying options....the trader just has to do it right, and make sure they know what they are doing very tactfully.
I must imagine....you got suckered into this world of options....through WallStreetBets, and all across social media during the pandemic and stimulus checks days of 2020? Options trading exploded during 2020/21...then kind of slowed down.
Everyone had dreams of turning a small sum of money....into six figures, maybe even seven. Compound and grow, Compound and grow...and live happily ever after. People were getting greedy and excited for GameStop and Bitcoin's meteoric rise....I want sSOME of that ACTION`...everyone salivating in fantasyland with $$$$ signs in their eyes,...to the mOOON
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I question trading instuments that involve leverage. Basically because leverage works both ways and small mistakes are magnified.
I think you need to come to grips with you are a gambler who doesnt appear to take the trading profession very seriously..
Your approach will never work...
Commit to the craft,put in the time or find a less hazardous hobby...
Your approach will never work...
Commit to the craft,put in the time or find a less hazardous hobby...