Down to about $90k, where would you park it if your trading skills were trash?

[ironchef]

I don’t know how long OP has been trading, but the $130k loss was in the last 4 years if I am not mistaken.

We all go through long periods of losses. I have been trading for 12 years and am still not there. My only regret is I started out with big capital @$100k and used big sizes often maxing out the 4x day trading buying power, all in the hope of making it big. My biggest one day loss was over $20k. lol

Looking back now I think the best way is to start as small as possible. It takes many years (10,000+ hrs) to really understand the market to gain any edge. So it’s vital to keep the inevitable losses small.

If OP still wants to keep trading, start small like $1-2k and treat it as throwaway money. If OP decides to quit I can fully understand. For short term T-bills pay 5%+ with no state tax. For long term investment gradually buy stock index funds during 1-2 year period to dollar cost averaging. The current market looks high but who knows.

BTW, my original $100k capital would be $300-400k now if it were put in the stock indexes. The opportunity cost is huge.

Great advice.

You have given OP a possible path to move forward.

I am glad I listened to you when I started live day trading last year.

 

[Jzwu2017]

My failure lessons are my most valuable asset.

 

[ironchef]

FALSE!

This is another idea we have to get away from...The whole idea of "put your money here as if you can afford to lose it."

Oh really? You mean like the compulsory SSA and Medicare system in this country? Sorry, we're not buying into that anymore, because the money we paid into THAT bullshit is already lost to inflation.

We cannot afford to lose it, so we are not treating our discretionary funds like your BS narrative of "if you put it here, it is probably gone." (not you Jzwu2017, just the punduits in general).

It was funny in South Park, but we're going to take it a bit more seriously. Kthxbye.

I don't have a dog in this fight but I think sir you missed his point:

You don't want to trade scare, you also don't want to blow up before you have a chance to hone your skills.

Took me a few years to figure out options and it is easy compare to day trading.

 

[Overnight]

ook me a few years to figure out options and it is easy compare to day trading.

You have it backwards...It is easier to figure out how to trade outright with margin in your face than with optionality to mitigate the outrights on day trading with all that IV stuffs.

 

[kandlekid]

Hello zghorner,

I have one algo that I can sale you. It needs $50,000, and it will make you $500,000 in a year.
I can zoom call you and let you see all the back test and details and what ever you want. I do not have $50,000 right now to risk.

I sale you the algo for about $6000, just do not share with anyone.

You should PM me, so I can show you my algos that require the type of money you have.

You seriously need to talk to some serious ES traders out here man, you sitting on alot of good capital to take risk with. Get an algo.

What BS. You mean you have an algo that requires 50k, to make 500k, but you've not risked the
50k yourself?

 

[zghorner]

What BS. You mean you have an algo that requires 50k, to make 500k, but you've not risked the
50k yourself?

Yea dude would take out some type of loan whether it be home equity or whatever if he was that confident. Gtfo.

 

[Overnight]

What BS. You mean you have an algo that requires 50k, to make 500k, but you've not risked the
50k yourself?

He's a sim trader. Pay him no mind.

 

[kandlekid]

I like GlobalX ETFs. I'm in a couple that are doing fairly well now (BOTZ and AIQ), and in one
that is not (POTX).

 

[Overnight]

I like GlobalX ETFs. I'm in a couple that are doing fairly well now (BOTZ and AIQ), and in one
that is not (POTX).

zghorner is mine...He is not going to fall for your skulduggery. I will get him on the path he wants to be on.

 

[kandlekid]

Just my 2c.