Hey, don’t call me Truth Searcher now, as that is your name. Haha.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Making full time trading viable
- Thread starter Truth Searcher
- Start date
Hey, don’t call me Truth Searcher now, as that is your name. Haha.
It will be worth it. Yes it will. It's just what you need.One or two weeks trading is not worth it - expectation for the process needs to be grinded out over an extended period and over many trades.
"This particular strategy cannot be automated, and requires screen watching 7 hours a day 5 days a week. "I have developed a day trading strategy which has a good positive expectation. My objective is to re-enter the full time independent trader space, but my trading capital is not sufficient to make a living. In order to build a live track record, and create a basis to raise third party funding,I need to abandon current employment - this is not viable due to family/living expenses obligations- any suggestions to move forward?
So you need:
1) someone to fund the trading account
2) Someone to watch the screen 7 hours a day to trade it
Since it is a manual and discretionary strategy, how can you teach/make sure someone is trading the same way and have the same positive outcome, lets assume your strategy is positive in your hand?
Another thread that reads just like the usual ones. The lack of receptivity can be seen almost a priori. You’ve gotten a block of very similar advice from a diverse group of posters but you aren’t ready to hear it. So what was the point of asking for advice?
You perceived judgement; yet I was careful to speak of probabilities; it’s a fact that someone with above-average intelligence and work ethic who has no working capital saved up is very likely mis-allocating their time/effort/focus.
If you happen to have an outlier run of bad circumstances that have left you with nothing despite optimal efforts, then you have my condolences. After seeing enough of the same cycle this thread has taken I tend to take a stronger stance against this narrative when I do decide to chime in.
Wish you good fortune despite our difference of opinion here.
You perceived judgement; yet I was careful to speak of probabilities; it’s a fact that someone with above-average intelligence and work ethic who has no working capital saved up is very likely mis-allocating their time/effort/focus.
If you happen to have an outlier run of bad circumstances that have left you with nothing despite optimal efforts, then you have my condolences. After seeing enough of the same cycle this thread has taken I tend to take a stronger stance against this narrative when I do decide to chime in.
Wish you good fortune despite our difference of opinion here.
"This particular strategy cannot be automated, and requires screen watching 7 hours a day 5 days a week. "
So you need:
1) someone to fund the trading account
2) Someone to watch the screen 7 hours a day to trade it
Since it is a manual and discretionary strategy, how can you teach/make sure someone is trading the same way and have the same positive outcome, lets assume your strategy is positive in your hand?
Hi - I will be doing the screen watching, no current plans to train others for this role, but could be an option for future. The key is to provide sufficient funding for the account so that the returns are meaningful. Thanks.
What about passing one of those trading challenge things to get funded? That way, you can secure enough funding prior to quitting job.The key is to provide sufficient funding for the account so that the returns are meaningful.
If you think your signals are good, how about sell your signals through those services to generate subscription fee; and if it is really good you can get substantial income from the subscriptions, so you can trade your strategy completely on your own capital.
Certainly something to consider. Although scalable, I would be concerned if too many end up using the signal that it may reduce its efficacy.
Ballpark what would subscription typically be?
What about passing one of those trading challenge things to get funded? That way, you can secure enough funding prior to quitting job.
Great suggestion- thanks. Do you know of any that don’t have a short term focus?