I have about $10,000 to trade with I wondering if it would be better to trade with a prop firm were I can get a 20 to 1 leverage and I have to split 70/30 with the firm or just trade the money on a my personal account. Does anyone know how good these prop firms are? If I put up $10,000 and I get $200,000 to trade with how much am I allowed to lose only $10,000 or more?
question about prop firms
- Thread starter erichamm
- Start date
of course you are not allowed to lose more than 10k. If you go prop you have to take the series 7 and probably 63 too. That will help clear up your questions about margin and all that.
Wow, not only did you respond here, you PM me with the same arrogant post. Don't do that again. Second, you never mentioned your time frame for this account or amount of leverage and risk used. Third, in my "Imaginary practice account" on tradesports I am short "You ever getting your head out of your ass" contracts and so far I am in the money.
Your practice account numbers are absolutely meaningless: trading is a game of emotional control and mastery of ones basic human emotions, i.e. fear and greed.
I know of many traders that have excellent ideas, but lack the emotional discipline to follow through with them, or even worse, override their ideas when they are not working. A practice account will never teach you that. Only live trading and experience can.
I know of many traders that have excellent ideas, but lack the emotional discipline to follow through with them, or even worse, override their ideas when they are not working. A practice account will never teach you that. Only live trading and experience can.