Help i need some advice

Well can ia sk y ET trader that is making $200 reallly difficult day trading with a $90000 margin
that also scalping stock like Dell intc csco qqqq
it not like i am trying to touch the sky thinking of making $500
How hard is $200 a day and especially when you try to buy low and sell hight i know that no body can decided when it is a low and when it is a high pll who have been scalpoin please tell me the pros and cons please
since i love trading and it is not for money it is somehting i would love to do life time but since i never knew about these prop firms and i did not have $25000 sec requirment i had no hope to day trade.
but now i know there are a lot of prop firm and i have 1 mont to decide please give me your experience and advice
thank you guys :)
 
Quote from ksonsinc:

Well can ia sk y ET trader that is making $200 reallly difficult day trading with a $90000 margin
that also scalping stock like Dell intc csco qqqq
it not like i am trying to touch the sky thinking of making $500
How hard is $200 a day and especially when you try to buy low and sell hight i know that no body can decided when it is a low and when it is a high pll who have been scalpoin please tell me the pros and cons please
since i love trading and it is not for money it is somehting i would love to do life time but since i never knew about these prop firms and i did not have $25000 sec requirment i had no hope to day trade.
but now i know there are a lot of prop firm and i have 1 mont to decide please give me your experience and advice
thank you guys :)
More...

$200 a day SOUNDS easy...on paper. But once you put it into practice, with slipage working against you, mkt fake outs working against you, lack of knowledge working against you...and worst off all, your mind working against you....$200 a day on consistent basis is nearly impossible. Starting off day trading with out the tools and experience and you will end up like the 95% who fail. At least try swing trading first.....if you cant make any $$ swing trading....then odds are you will not make any $$ day trading. If you don't have 25K, just swing trade on the long side. Use technical analysis to time your longs with the markets. If you cant swim in 3 feet of water why go to the deep end of the pool?

Read my "New Traders read this" thread in the psychology section it has my experience of how i started.
 
Quote from ksonsinc:

Well can ia sk y ET trader that is making $200 reallly difficult day trading with a $90000 margin
that also scalping stock like Dell intc csco qqqq
it not like i am trying to touch the sky thinking of making $500
How hard is $200 a day and especially when you try to buy low and sell hight i know that no body can decided when it is a low and when it is a high pll who have been scalpoin please tell me the pros and cons please
since i love trading and it is not for money it is somehting i would love to do life time but since i never knew about these prop firms and i did not have $25000 sec requirment i had no hope to day trade.
but now i know there are a lot of prop firm and i have 1 mont to decide please give me your experience and advice
thank you guys :)
More...

I think you'd do quite well as a copy editor or professional writer.
 
Quote from ksonsinc:

Dear ET member and reader
The second option i think start day trading with genesis( as i think they are the best in NYC ) at their location with $9000 which will give me $90000 margin

so even if i make $200 a day X 5 days = $1000 a week
which i think is not bad and not that tuff
More...

Heh. Its a tough crowd for a tough business.

Its probably easier to get $90,000 than it ought to be.

The big question is, what makes you think you can trade with a positive expectacy ? Have you done any work to see if you can indeed turn a profit over the long run ?

What will cause you to enter a trade ? If you enter, will you have one entry or build up your position ? What will you trade ? When will you cut losses and take profits ? If you've answered these questions, have you attempted to do some testing to see if you can make money in the long run.

There are lots of things to consider if you truly want to do this for a career. Try to work out as many of the unknowns before you dive in. $90,000 is a lot to lose !

Best of luck,
-Tony
 
Ksonsinc:

Let me just add that $200 in a day is not that tuff if you got into a lucky trade. The challenge lies with your statement “$200 a day X 5 days = $1000 a week” which implies strict consistency; day in and day out, every trading session. Achieving that requires the suite of physical and mental infrastructure that you hear others allude to on this board.

Kermit
 
Quote from FuturesTrader71:

Sounds like your motive is exactly the type that will guarantee you a loss of your money. Don't walk in with expectations for $$. You will be badly disappointed. You should come into trading because you think it is the type of challenge that will intrigue you and that you can overcome. The $$ are a side-effect of good, disciplined trading. If you walk into anything with just $$ in mind, you will find that your patience will not be there and your anxiety is through the roof. This further stacks the odds against you. Read up about trading (visit some existing threads/ journals) and then decide whether this is worth losing your $5000 over.
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Very true. I am interested in trading now. When I started I was equally interested in the money and the trading and I had a partner that was only interested in the money, he drove me nuts. He fueled everything in me that worked against the venture, I had anxiety like you would not believe. I had to give it up for awhile and just study. Basically as my interest in the money declined and my interest in the trading came up I made the big learning gains that were impossible to do while I was worrying about the dough. I did not even need the money to live on, if I needed the money to live on, the anxiety would have been worse even. Some can do it however, read the story of Linda Raschke, she simply got some dough together and got in the pit and watched the other traders and learned to trade.
 
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