Small Account

dozu888 said:
https://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx

$4000 down, $500 a month, 12% annual return on the QQQ, you million in 25 years.

don't throw 'small accounts' away because they are small... don't even think about buying 'courses'.

my son is 14, he is contributing $1500 a month from his job... at this pace he will million when he's 31... so don't tell me you can't put down $500 a month.
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dozu888,

You right. I would say every trader should be investing for the long term anyway. I don't invest in qqq, buy I only invest S&P500 index.

Day trading can be addictive and we forget the long term planning as well.

Can't put all energy in one plan.
 
SimpleMeLike said:
dozu888,

You right. I would say every trader should be investing for the long term anyway. I don't invest in qqq, buy I only invest S&P500 index.

Day trading can be addictive and we forget the long term planning as well.

Can't put all energy in one plan.
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I use 20% of my accounts for "trading" the rest is fire and forget. I want to beat my "fire and forget and occasionally adjust" portfolio for a year so I can justify the time wasted on here to myself. So far, fire and forget is at almost 20% return for the year while active account is at 50%.

LET'S MAKE IT 500%.
 
chyldom said:
Hello guys,

I would like to ask you few questions. I would like to start trading options, but I will have limited account. Lets say 4000$.

I saw some courses for 1000-3000$, do you think is it worth it to buy these courses? Or it is better to start learning from free resources and better to invest in myself and fund my account. I know sometimes you need to pay for knowledge and learning, but in world of rich trading gurus it is hard to believe someone.

I know I am not going to be a millionare from 4000$, my point is to learn how to trade small account and be profitable in a first place.

Would you suggest any paid course? Or any free courses, youtube, book or anything? I know there are tons of books and videos to watch and learn, but this is mainly for a big account about 25000$ and more.

Would you suggest TastyTrade to learn how to trade options?

I would love to learn how to trade, but when I see this big trading accounts videos, I just dont know where to start and learn..

So I will be glad for every advice, if you tell me fund your account and learn it by yourself, good but please tell me which strategies you would use for 4000$ so I can study this strategies as much as I can. Thanks a lot guys and have great and successful week!
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Absolutely do not spend more than $100 on any learning materials, such as books and Udemy courses. After that you’ll see how much you understand and can test some trading ideas. And never spend like 1K+ on anything or anyone. There may be some great courses out there but if they’re really good then they don’t need to scam you out of $4k, just like great people write great books that don’t cost $4k.
And really, don’t count on more than 10%, maybe 20% per year. All the get-rich quick methods require taking extreme risk of losing your whole account at any time.
 
dozu888 said:
right nobody knows for sure, so here is when probability comes into play... couple of weeks ago I had a thread called '3 biggest mistakes on RISK'... the idea is one should go for the highest probability when he is young, due to the longer compounding... therefore the buy and hold accumulation starting young.... and he can go for low probability ventures later... such as trading options.
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I 1000% agree. My biggest investment mistake was not investing for the long term in SP500 index when i was only 18 years old. It's the highest probability and simplest way to make long term money.
 
chyldom said:
Hello guys,

I would like to ask you few questions. I would like to start trading options, but I will have limited account. Lets say 4000$.

I saw some courses for 1000-3000$, do you think is it worth it to buy these courses? Or it is better to start learning from free resources and better to invest in myself and fund my account. I know sometimes you need to pay for knowledge and learning, but in world of rich trading gurus it is hard to believe someone.

I know I am not going to be a millionare from 4000$, my point is to learn how to trade small account and be profitable in a first place.

Would you suggest any paid course? Or any free courses, youtube, book or anything? I know there are tons of books and videos to watch and learn, but this is mainly for a big account about 25000$ and more.

Would you suggest TastyTrade to learn how to trade options?

I would love to learn how to trade, but when I see this big trading accounts videos, I just dont know where to start and learn..

So I will be glad for every advice, if you tell me fund your account and learn it by yourself, good but please tell me which strategies you would use for 4000$ so I can study this strategies as much as I can. Thanks a lot guys and have great and successful week!
More...

Remember the Kiss principle. Keep it Simple. Follow the trend. Trend following still works especially, in the long term. Where will it end? Who knows? It does not really matter. If you have discipline, you will make monies. That $4,000 you can compound over time. You can use a 100 day EMA and get in when the price crosses over and closes above the 100 Day EMA and then, exit when price closes below the 100 Day EMA. Rinse and repeat. You should win most of the trades and come out ahead. Do a manual backtest to have confidence that it stands a fair chance of working out.
 
dozu888 said:
turn on ESPN2 right now :)

Overwatch is da game :)

there will be 2 more matches today on twitch.tv

son is still in the minor leagues due to age restriction.
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Interesting. How did he get started? I want my son to get involved in this (he also plays physical sports) so he has something he can build towards. He plays fortnite, but not sure how he can really build towards something.
 
nooby_mcnoob said:
Interesting. How did he get started? I want my son to get involved in this (he also plays physical sports) so he has something he can build towards. He plays fortnite, but not sure how he can really build towards something.
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overwatch has this thing called 'path to pro' :)
 
The other day, he and I watched Tfue play on YouTube (that guy swears a LOT) and it was really impressive how good he is. That isn't gamer level, that's elite athlete level strategy and reaction. Not very many fat pro fortnite players.
 
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