That's right. Otherwise too, loan is the last option I would ever resort to. What about you?
Getting Funding for Trading?
- Thread starter stockpredictor
- Start date
Can't do simple math, but has the world's best trading system? Call me skeptical.
at 10% per month you will 3x your money every year.
at 15%, 5x every year.
We're talking about millionaire within 2-4 years here starting with 10k.
Just how quickly do you need to get rich? Jeez Louise my dude.
I don't think he understands the math involving his trading system and what his 5 figure account will grow into if he stayed on that path of current growth for the next several years...
And then for him to say he doesn't have the patience is like admitting he's not able apply his trading system on a consistent basis and instead wants to take a short cut into a very large account via a bank loan to capitalize on his recent market success before a drawdown period shows up in which he'll blame the drawdown due to lacking patience...his flaw as a trader.
Also, he doesn't realize we see these types of threads (a few of them) here at ET. Those with stellar gains on a small account needing a bank loan or business partner to give them the account size they need to try to reach "rich category" because they've seen or heard the stories of people striking it rich in the recovery from a black swan like event in the markets.
Simply, I think he may have missed those spectacular gains in many stocks the past many months that he's been hearing about...they makes his small consistent gains look...
Tiny.
- Many many traders including their grandmother look like geniuses the past several months in stock trading / option trading.
In fact, his bank won't even remember its the same guy that came in there years early and wondering if his trade journal at a forum that's not on the banks radar can be good enough to secure a loan.
Last of all, turn his trading into a LLC within a month and make monthly deposits from his trading profits...the bank won't look at him by this time next year as if he's crazy but it still may only be good enough to secure a small business loan.
- Act like a business man instead of as a lucky trader since the black swan event (Pandemic).
wrbtrader
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Most people can be successful paper trading, but they fail trading with real money. The reason for that is emotions. I'm a big believer that emotional detachment is necessary to have success with active trading.
I never trade with money I need, so I definitely wouldn't take out a loan to trade with money I don't have. Leverage can help you grow your account faster, but it also increases the odds of failure.
How many times do I have to repeat myself?
Again, I have already posted my statement to prove I'm trading with real money.
I can do math. Insinuating without evidence is nonsense.
I posted my thread to show it was not the result of the bull market. Look at just the short trades by themselves and its still super profitable.
I also showed links in the other thread for having done this for years.
The same people that were saying I can't daytrade are the same ones saying I got lucky and its only a matter of time before it fails. There is basically no way to prove anything. Make too much money and its luck, make too little and its average, lose and you're a failure.
Also I have expenses and I have to trade for money too. Because of illness I have to pay for things and also no job. Its not like all the money goes in the account and stays there. So when you play a video game and build a character, I put all my stat points in trading, specifically technical analysis. 10-12 hours a day is a small price to pay. That's why I'd like to trade with a big chunk of money. Even if just 100k-200k extra I can easily up it regardless of market condition.
Again, I have already posted my statement to prove I'm trading with real money.
I can do math. Insinuating without evidence is nonsense.
I posted my thread to show it was not the result of the bull market. Look at just the short trades by themselves and its still super profitable.
I also showed links in the other thread for having done this for years.
The same people that were saying I can't daytrade are the same ones saying I got lucky and its only a matter of time before it fails. There is basically no way to prove anything. Make too much money and its luck, make too little and its average, lose and you're a failure.
Also I have expenses and I have to trade for money too. Because of illness I have to pay for things and also no job. Its not like all the money goes in the account and stays there. So when you play a video game and build a character, I put all my stat points in trading, specifically technical analysis. 10-12 hours a day is a small price to pay. That's why I'd like to trade with a big chunk of money. Even if just 100k-200k extra I can easily up it regardless of market condition.
Seems like the way you 'proved' that you are a profitable trader didn't convince a lot of people so far.
So, either you stick to your idea and stand still, or you adjust and move on.
Trading is much more than predicting stock prices. That's why people usually want to see trading statements with entries and exits and all related trading cost/fees, preferably from a real-money trading account. Not so-called 'real time call' in a trading forum.
In trading, it's not who's wrong and who's right.
It's who's making money and who's losing it.
If you want to be right, then it's ok.
But if you want to make money trading, then I guest you would need to adjust.
Yeah I posted a statement in this thread in response to a guy calling fraud. He still hasn't responded.
Each person wants something different. I posted my trades with position size and everything and it was said they could be faked. So I switched to live call as it was the only way to prove nothing was faked in a photo editor later. This was discussed in the thread I posted. And people still complain.
It seems to me that the vast majority think it is not possible to trade well so all they do is say its fake, even when given proof.
You don't seem to accept that your 'given proof' is not that solid as you think it might be.
I would just end this by saying that you should follow the suggestions that many here have proposed you. It may not give you anything more, but at least you could tell that you have tried.
Keep doing the same thing over and over again and expecting a different result might not be the best approach.
My 2 cents...
Much great advice in this thread.
Assuming there is an edge in your stock trading it makes most sense to keep growing your account and be patient.
Most of small businesses have been built slowly over years by reinvesting profits.
Leverage is double edged sword.
Your decision making might get impaired when you would be trading much larger orders and other people's capital.
Growing slowly and without leverage means lower blow up risk.
Assuming there is an edge in your stock trading it makes most sense to keep growing your account and be patient.
Most of small businesses have been built slowly over years by reinvesting profits.
Leverage is double edged sword.
Your decision making might get impaired when you would be trading much larger orders and other people's capital.
Growing slowly and without leverage means lower blow up risk.