rookie looking for help

Quote from dvda420:

How so? I really want to learn more, so please explain what I am doing wrong.
More...

Do not just jump into this game and join a prop firm with 5K and no trading strategy......save up enough money to cover your cost of living for atleast 1 year and find a mentor that is profitable to guide you.
 
What more is there to explain? I'm telling you trading is VERY difficult but you're in denial. I also understand that. I probably was/would be too when I started out many years ago.:p

I'm saying, don't even think of it for any form of income, period. Will you make it after 1-2 years? I don't know.

Quote from dvda420:

Please explain more
More...
 
Unfortunately it is rather hard to save up 1 year of living expenses. Part of what draws me to the market is that I have made some very good calls. If all I did was short GM I would make a ton of money. There are other calls that are fairly easy to make. Are there any prop houses that offer training or are they entirely out there to make trading commissions with no real interest in the success of the traders, rather relying on high turnover to keep volume up?
 
That's another newbie misconception. Making a 'call' or series of calls is one thing. Profiting from them is altogether, something else! I guess we'll just have to agree that you're smarter than Kirk Kerkorian.:p


Quote from dvda420:

Unfortunately it is rather hard to save up 1 year of living expenses. Part of what draws me to the market is that I have made some very good calls. If all I did was short GM I would make a ton of money. There are other calls that are fairly easy to make. Are there any prop houses that offer training or are they entirely out there to make trading commissions with no real interest in the success of the traders, rather relying on high turnover to keep volume up?
More...
 
Quote from dvda420:

Unfortunately it is rather hard to save up 1 year of living expenses. Part of what draws me to the market is that I have made some very good calls. If all I did was short GM I would make a ton of money. There are other calls that are fairly easy to make. Are there any prop houses that offer training or are they entirely out there to make trading commissions with no real interest in the success of the traders, rather relying on high turnover to keep volume up?
More...

Do what you like.........but don't say we did'nt give you good advice:cool:
 
are you aware that 90% of all aspiring traders fail? your market calls are BS. its easy to say what you would have done when you are sitting on the sidelines.

trading is HARD WORK. keep your 5K in your bank account and come back when you have enough to live for a year without any income...
 
So how did you guys get into the market? Did all of you save up a year's worth of living expenses and than live income free for a year? What did you do to get ready and how did you start out?
 
The majority here don't even trade. It's a hobby for them and they still have a "regular" paycheck-type job.

Quote from dvda420:

So how did you guys get into the market? Did all of you save up a year's worth of living expenses and than live income free for a year? What did you do to get ready and how did you start out?
More...
 
If you want to try out trading, start papertrading first, once you think you have found a profitable method, then open a margin account with that 5k and start trading 100 shares of a decent price NYSE stock, such as 100 shares of WMT. This way you will never lose more than 75-100 on a single day with the .50-.75 intraday ranges. Start small, keep the stops tight, and slowly build the account while you still have your day job, not only will you be gaining experience but you will be establishing a track record to show prop firms if you choose to go that route. If you make it this far, then increasing the size is all you will need to do to start making decent money. Good luck.
 
You must log in or register to reply here.
Back
Top