Small Account

chyldom · Jul 7, 2019

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!

dozu888 · Jul 7, 2019

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.

chyldom · Jul 7, 2019

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.

I think I was not asking how to save or how much to save for a million, I was asking complete different question but yeah thanks a lot for your helpful post.

dozu888 · Jul 7, 2019

chyldom said:
I think I was not asking how to save or how much to save for a million, I was asking complete different question but yeah thanks a lot for your helpful post.

I know you were

and I am saying 2 things -

1) trading is a complete waste of time;
2) if you still want to go at it, courses are complete waste of money.

destriero · Jul 7, 2019

dozu888 said:
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.

How does it feel to make less than your son?

Turveyd · Jul 7, 2019

Well I'd agree, courses waste of time, but I'm 12years in, profitable at times at times the opposite, so maybe a course would of saved me some years, who's to say ???

Options themselves aren't tricky, but getting on the trend of the stock your trading can be, or if your after some weird option strategy then might be a good place to learn.

Too many variables so impossible to answer, flip a coin time.

Variables...

Is the course good ??
Would you learn from it ??

Those are the main variables, answer them and you've got your answer

dozu888 · Jul 7, 2019

Turveyd said:
Well I'd agree, courses waste of time, but I'm 12years in, profitable at times at times the opposite, so maybe a course would of saved me some years, who's to say ???

Options themselves aren't tricky, but getting on the trend of the stock your trading can be, or if your after some weird option strategy then might be a good place to learn.

Too many variables so impossible to answer, flip a coin time.

Variables...

Is the course good ??
Would you learn from it ??

Those are the main variables, answer them and you've got your answer

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.

cafeole · Jul 7, 2019

IMO, you will not get anything more with those $1000 + courses than you can get from the internet UNLESS you have a hard time learning for yourself. Some people need the instruction to make sense of things. If that is true, I still would not spend $1000s. Buy some books first.

dozu888 · Jul 7, 2019

destriero said:
How does it feel to make less than your son?

you don't have any kids yet? so you don't know.

it would be a great feeling to see your kids surpass you... but as of now it doesn't matter... still very proud worthy as he's making this money at 14, as a semi professional athlete.

nooby_mcnoob · Jul 7, 2019

dozu888 said:
you don't have any kids yet? so you don't know.

it would be a great feeling to see your kids surpass you... but as of now it doesn't matter... still very proud worthy as he's making this money at 14, as a semi professional athlete.

Wait, he is getting paid to be an athlete? What does he do?