Does this count as trading?
- Thread starter niteflite
- Start date
Futures or Spot account you'll get 20:1 I think in the USA, 50-200:1 elsewhere.
Prop firm will likely want a deposit of 20K and many hoops to go through to just get to that stage.
Keep doing what your doing, just do it more and build that up IMHO!!
* Wife a 2nd job + Weekend work ??
It's settled then, have wife work and you make love to candles 
If you are going to trade for a living switch to IB or Thinkorswim or both...
Trading without an income is psychologically different then already having an income and doing it part time. I've done it and there's a lot of pressure on you when you don't have an income. Just keep that in mind.
ok and i'm back. still working an office job but gradually itching more and more to get out of this to do something else, not necessarily trading only.
anyway, i've got "disposable income" and a spouse that works and enjoys working that makes enough to support the family at its current life style. is $50k of my own funds enough to get started? my strategy...i don't know what it would be. it would be rather conservative to start - maybe scalping with low loss thresholds? i'd give myself up to $7k to lose before calling it quits and going back to looking for work. does this sound like a legitimate plan?
the swing trading recently hasn't been working as much as i'd like...i actually have found myself during the past few months buying but selling too quickly - within the same day or within a couple of days, then watching the ETFs go up another 5% resulting in me leaving thousands in gains on the table. i missed some golden opportunities when the market was very volatile earlier this year.
anyway is using IB that much better in terms of speed vs a merrill edge or scottrade? Would a 25 mps speed through fios be sufficient?
For my first trades, how do i choose what to trade?
anyway, i've got "disposable income" and a spouse that works and enjoys working that makes enough to support the family at its current life style. is $50k of my own funds enough to get started? my strategy...i don't know what it would be. it would be rather conservative to start - maybe scalping with low loss thresholds? i'd give myself up to $7k to lose before calling it quits and going back to looking for work. does this sound like a legitimate plan?
the swing trading recently hasn't been working as much as i'd like...i actually have found myself during the past few months buying but selling too quickly - within the same day or within a couple of days, then watching the ETFs go up another 5% resulting in me leaving thousands in gains on the table. i missed some golden opportunities when the market was very volatile earlier this year.
anyway is using IB that much better in terms of speed vs a merrill edge or scottrade? Would a 25 mps speed through fios be sufficient?
For my first trades, how do i choose what to trade?
I'll try not to sound too negative. I know that feeling of wanting to make that "transition" to successful- "control of one's destiny"- independent trader! It's a very STRONG urge! With that being said, I'm pretty sure you'll go for it...you just can't help yourself. You must be ready to learn not only the "logical" aspects of trading, but more importantly the intuitive/art aspects of trading...this part entails a long learning curve with probable pain and losses. The key is to trade small during this phase. This will be a problem because you'll want to trade larger than you should...you want to make that "living" don't you? And of course, show the wife you'll continue being a provider or impress her with much success and be the hero! Again, trading small is the key...how will you do this? Are you ready for thousands of hours practice? It's possible you'll be the exception and succeed immediately, but highly unlikely. This is how it all started for me back in 1994. I'm also wondering if you're success in the past was a result of a strong bull market...were you mostly trading long positions? Anyways, GOOD LUCK TO YOU!!!!!!!!!!!!!
stay were u are now,
since u do not know what u doing and neither believe in yourself (understandably, since you know that u do not know what u doing)
7k is a drop in the pocket...
u asking us?
now ?
after 9 years registered on this forum?
and right before you ready to dive in?
do not go there at all - you do not have what it takes really