How about starting a private fund?

[TraderZones]

Quote from mrman500:

Great advice folks...keep it coming! My brain is soaking it up.

If your drawdown is 45% in such a short time, it means your return is not 300%. You are way overleveraged.

Think 10% drawdown, and divide your 300% by 4.5. NOW you are talking about your realistic returns.

And of course, you have been doing this a short time (your next drawdown may be 90%!!!) with small amounts of money (things change a lot when using bigger lots). Divide AGAIN your annual return by 2 for managing 10X times more money for a longterm situation.

This is what I think you are much closer to.

It is called "reality"

 

[startraitor]

All that education and still has to raise $100,000? I guess that is like a real smart guy with a phd in physical education thinking he can compete with Michael Jordon....

Good luck sir.

Quote from mrman500:

Thanks gangof4. I was about ready to end it all.

It is interesting to see the responses this thread is receiving.

Although I appreciate that it doesn't guarantee trading success, I did have a 3.64 gpa in my MBA program including an A in my Stats class and joined Mensa two years ago. And Purdue requires more than the ability to fog a mirror before handing out Engineering degrees.

I may be inexperienced but I doubt that I am stupid.

 

[mike007]

Quote from mrman500:

Thanks gangof4. I was about ready to end it all.

It is interesting to see the responses this thread is receiving.

Although I appreciate that it doesn't guarantee trading success, I did have a 3.64 gpa in my MBA program including an A in my Stats class and joined Mensa two years ago. And Purdue requires more than the ability to fog a mirror before handing out Engineering degrees.

I may be inexperienced but I doubt that I am stupid.

Sometimes its better to be lucky than smart.

 

[efranco]

I believe that an education means nothing in this business. I have clients that are worth millions upon millions of dollars and some of them never even finished high school. Shot I never even finished college, but i was very lucky to have some clients that believe in me and give me a chance and in the beginning before i started my fund i traded some of their money in a pool and I remember having losses for my first 4 months. But they hung in there and encouraged me to keep going, now they are my best clients and trust me with even more.

The best thing that I did was concentrate on RISK MANAGEMENT and not give up. remember that your returns don't mean as much as how you can manage risk. You should read Van Tharp : Trade Your Way to Financial Freedom or The Operational Risk Manager's Guide by Sergio Scandizzo or Financial Risk Manager Handbook by Philippe Jorion

I think the last one you will understand pretty well since you have an engineering background, if you don't you will have a tough time because it is all math and cal but you MUST read the Van Tharp one to get a base of risk it is the key to the door of risk concepts and the others are very technical parts of it.

-Emiliano