I am really in need of Some Advice...

N

Nelson1980

Should I try to find and sign a deal at a Prop Firm or
Should I work some odd jobs for an year and get some capital ?(~$30,000)

Can I Please Please here the Pros and Cons of each?

I am really thinking of working for a year and getting me some money and then going at it my own. But, would my training that I receive or get would be inferior if it was the other way around?

And is it really worth it to tie yourself down to a firm for app. 3 years. Plus, since I will be going at it myself and using my money, I am thinking I will be more careful and therefore, I will be able to learn more.

Any replies greatly appreciated.
thanks....
 
They only real training trading is ....doing it with real money and suffering the emotional swings with it.

DONT NOT start out trading E MINI or NAS, these are violent movers and slippage can kill you..some days its easy some days its not.

Do your training trading LIQUID Stocks with 100 share lots, build up a statistical record of performance, learn about your emotions and what style suits you.

Anything else, paper trading, back testing is only worth 20% of the training plan...80% is doing it, do so so you DONT lose any money..

There will be a cost of software, computers and fees etc.

This is the best way to learn so you dont loose your 30K or 50% of it...

Good luck
 
i don't know if this will help you, but someone once said, 'don't pet burning dogs.'
:p

<font size=1>too much time on my hands just now.</font>

Y'know, i never really thought about that expression 'pros and cons' until just now. you got your pros, and you got your cons. what an apt expression when discussing this business (or any other, i suppose).
 
What bull, last post,...

This learner has little chance to build his account consistently, cause he does not know how...if its down to chance forget it.

He must know how to win, and have the confidence on how to win consistently.

Wet your feet, then creep into the deep end, before you learn to swim freely.

This guy cant swim.....

Learners be careful...some older hands forget how hard it was starting out.
 
Prop firm, think of it as getting a degree in trading. Do some research and find out which company offers the best training. Trying to learn it on your own is a huge waste of time because there is so much garbage out there to sift through.

Also, once you start trading there are so many stupid mistakes that cost a lot of money. You should be able to avoid most of these at a prop. firm. Prop firms generally require the series 7 license which will force you to learn something. You would not do this on your own.

If you are serious about trading this is probably the best way to learn the most in the shortest time.
 
Quote from ptt:

Prop firm, think of it as getting a degree in trading. Do some research and find out which company offers the best training. Trying to learn it on your own is a huge waste of time because there is so much garbage out there to sift through.

Also, once you start trading there are so many stupid mistakes that cost a lot of money. You should be able to avoid most of these at a prop. firm. Prop firms generally require the series 7 license which will force you to learn something. You would not do this on your own.

If you are serious about trading this is probably the best way to learn the most in the shortest time.
More...

wherever you work, you'll find you're going to wind up teaching yourself your own best lessons. even if you sit with an old hand who knows his stuff (good luck finding one), benefitting from his knowledge requires you taking the risk anyway -- something you simply cannot avoid if you want to learn. that's just the way it be's.
 
Oh god, I wish I could ask so many questions at once, but I can't.

If I do the Prop. Firm route, I will just be graduated and I will have no significant amount of Capital at the beginning. (<$ 2000).

Althought I will be doing the Prop. Firm route, do you think I should work some and get some cash before I sign up at a Firm. Or should I just jump in and see what happens.

Plus, I defintely have to move to a New City. And I am in NC now and I am thinking of moving to a west coast city. Because, after I get a little bit experiecne in trading, I could also start working an afternoon/part-time job.

please please give me some feedback on my thinking...
 
Stay at your job and start saving till you have at least $30,000
Market will still be here

Also paper trading = playing Nascar on PS2
Real trading = Driving 200+ mph at the Daytona 500
Scary shit huh? :D
 
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