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looking for a trading firm
- Thread starter erichamm
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When I first started trading my dumb ass broker talked me into trading options. He didn't even give me a heads up about deltas. I lost all of my money (6 grand). I then educated myself. Learned Elliott, wilder, bollinger, little bit of Gann.
When I started trading for the second time. I started with $5,600 I would place the stop about $500-$1000 out. I would usually always look for the second wave of the A or C wave. I can write off that $6,000 loss against my gain. I have to talk to my accountant.
Now that I have a bank of 32k. I'm going to start using options to hedge with and no longer use a stop. The reason why I like to hedge with them is because they are a tax write off.
When I started trading for the second time. I started with $5,600 I would place the stop about $500-$1000 out. I would usually always look for the second wave of the A or C wave. I can write off that $6,000 loss against my gain. I have to talk to my accountant.
Now that I have a bank of 32k. I'm going to start using options to hedge with and no longer use a stop. The reason why I like to hedge with them is because they are a tax write off.
Quote from erichamm:
When I first started trading my dumb ass broker talked me into trading options. He didn't even give me a heads up about deltas. I lost all of my money (6 grand). I then educated myself. Learned Elliott, wilder, bollinger, little bit of Gann.
When I started trading for the second time. I started with $5,600 I would place the stop about $500-$1000 out. I would usually always look for the second wave of the A or C wave. I can write off that $6,000 loss against my gain. I have to talk to my accountant.
Now that I have a bank of 32k. I'm going to start using options to hedge with and no longer use a stop. The reason why I like to hedge with them is because they are a tax write off.
You used a stop that was 20% of your account? Oh Lord.
Quote from Maverick74:
Please don't take this the wrong way, but are you f*cking out of your mind? You think 6 months constitutes a trading record? Try at least 3 years, preferably 5 years of consistent returns with minimum drawdowns.
Jesus man, sometimes I wonder where people get these ideas from. If you want to trade my friend, it's pay to play. Either put the capital up or send your resume to a firm that hires one out of thousand applicants. There are no shortcuts in life and certainly not in trading. Good luck and please grow up. This is the real world.
If he is telling truth, turning 5k to 36k in 6 months, and
his trades are all intraday (not swing trades), then it's
long enough to validate for a proven strategy.
It's not hard to find capital to trade, but very small amount only.
Firms do this because they can put on extra larger trades
in their house accounts following his trades.
But again i'm not sure , and i don't believe what he says.
Quote from Nana Trader:
If he is telling truth, turning 5k to 36k in 6 months, and
his trades are all intraday (not swing trades), then it's
long enough to validate for a proven strategy.
It's not hard to find capital to trade, but small amount only.
Firms do this because they can put on extra larger trades
in their house accounts.
But again i'm not sure, i don't believe what he says.
Six months a strategy does not make.
You've got to be kidding me I think Elliott wave is great. I would use a stop 10-20% of my capital anything less I feel I would get stopped out to often. You see if you place the trade after the the second wave of the A or C wave, this is the safest time to sell or at least that's what Gann preached and he's right. This way your going with the downward trend. If your only trading with $5,600 I feel you have to take some chances in hopes of building your account.
What a joke! Spoken like a true bullshitter. You pobably read a couple of books on that crap in the last 6 mos. and now you think you can scam some prop shop into handing you their dough?
If you were truthful and any good, you'd be (continue) putting your money on the line.
Yeah, keep dreaming.
If you were truthful and any good, you'd be (continue) putting your money on the line.
Yeah, keep dreaming.
Quote from erichamm:
Yeah I'm just trading futures. I'm using Elliott wave theory. I trade in any market that is trading according elliott. The best times to sell are after the second wave of the A and C wave. That's where I've had my best trades, I feel that's the safest trade.
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