How does someone get the capital required to turn trading into a business? My guess is you need to start with at least $100K to be on the safe side. If you made 100% return a year and took out 50K$ out at the end of the year then your left with $150K which allows your account to grow. I know the average Joe doesn't have $100K in their savings account... So to the people who turned trading into a business: How does someone get the capital required to turn trading into a business?
How does someone get the capital required to turn trading into a business?
- Thread starter cornholio
- Start date
This is a rich kidz business. The other option is pulling out of you bunghole.
Do the research necessary to create a business plan (trading plan).
Test it in a simulated environment.
Test it in TopStep Trader's free trial.
Pay a paltry sum to participate in a combine.
Get funded and grow your capital.
For me --- working a job, saving the amount I figured I'd need in order to get started, swing trading for small but consistent profits and using compound interest to my advantage.
This.
Also you can sign up as a "signal provider" at zulutrade.com. They pay a paltry sum per trade but they don't charge you for the privilege.
I think you can also get paid to provide signals at collective2.com
You are 100% correct. I am starting to work 2 jobs. I have a 9-5 and I'm starting a new job working from home. Once you save up $26K and trade using margin. After awhile depending upon your bills. You can live off your trades and save money from both jobs. Im able to trade during the day, because I use the mobile app. from my phone.
I suggest have 2 retail accounts with a minimum of $30k in each one. In addition have a prop account with $10k asking for 25 x in leverage. Before you can venture out on your own.
The best and most honorable and professional way is to show 1 year's worth of positive returns....verified thru an independent certified public accountant. You then show this to friends and family and say you are looking for seed money to start a trading business....and see who, if anyone, bites.
This is how I got started. My first year's returns(2007) were positive, trading FX and energy futures on an intra day basis. I got a CPA to verify my returns at the end of the year. Then showed my mother's childhood male friend(who is now a very successful cancer surgeon in the Wash DC area and is like an uncle to me). We talked about it for a few weeks over the phone, and at a birthday party he had at his house one weekend for one of his daughters(has has 9 children...half of them adopted), at the end of the party he handed me a check for $250k.......with many conditions!
Nobody is going to offer you start up capital if you can't show(with proof)that you're already making money trading with proper risk management parameters. To think otherwise is to live in a fantasy world.
This is how I got started. My first year's returns(2007) were positive, trading FX and energy futures on an intra day basis. I got a CPA to verify my returns at the end of the year. Then showed my mother's childhood male friend(who is now a very successful cancer surgeon in the Wash DC area and is like an uncle to me). We talked about it for a few weeks over the phone, and at a birthday party he had at his house one weekend for one of his daughters(has has 9 children...half of them adopted), at the end of the party he handed me a check for $250k.......with many conditions!
Nobody is going to offer you start up capital if you can't show(with proof)that you're already making money trading with proper risk management parameters. To think otherwise is to live in a fantasy world.
Wouldn't it be faster if you traded family/friends money at first and then after you had enough you could just trade for yourself? That would be the fastest route. But if that's not possible then I guess one just has to save, trade and slowly build it up like you describe.
I was also thinking about trading from phone when at work. Which phone do you have? I'm think samsung galaxy S 3 which is 4.8" - is that big enough? The biggest phone I can find is a Boost Max that's 5.7".
Thank you!
NoDoJi mentionned topsteptrader : they offer 150,000$ for a risk of 400$, if you qualify. Why go and risk alienating family and friends if you have not really proved yourself?