suggestions on funding your trading account for new traders

[ironchef]

I have been a full time trader of options & positions for over a decade, but those are completely different animals and experiences there don't apply.

The reality is new traders who have no track record will have difficulty getting outside funding unless it is from f or f, or prop firm. The best suggestions is to work more and save more but you didn't like the idea.

IMHO, you don't have a profitable system. You can make excuses but at the end of the day, the net result is you are not profitable after several years of trying. You also said you don't believe in paper trades because the outcome is different from live.

Here is my own two years day trading experiment, both paper trades + live trades:

1. Results are almost identical. Meaning the PnL, win rate, win/loss ratio... are almost the same, paper vs live.

2. Here are the statistics for about 18 months, win rate is ~60%; win:loss is ~1:1; 3 out of 4 days are profitable; every month is profitable.

3. My problem is the method is 100% "gut feel". Some day when it didn't work, it simply didn't work and I have no clue why???

Until I can figure out I will continue to paper trade, like playing my video game, every day.

Best of luck and best wishes to a fellow new day trader.

 

[ironchef]

First of all, it’s always easy for amateurs to attribute their successes to their “skills” while attributing failures to bad luck (or lack of funds in your case). This Success/Failure Attribution bias is what keeps you (and other people) in the markets until they lose lots of money. You need to become introspective and be willing to take responsibility for your own results instead of blaming it on external factors.


Instead of seeking more funds so you can ‘overtrade’ (your negative expectancy) while continuing to reinforce your counterproductive habits, how about asking more empowering questions such as “How can I develop as a trader and improve my trading efficiency with my limited capital”?


I’ll repeat myself (not to annoy you, but because you need to hear it, and for the sake of your family) . . . you don’t seem to have the necessary patience, you seem to be somewhat addicted to the action (massive problem), you’re under financial stress, etc, and you need to work on your issues.


Honestly, you’re much better off demo trading for a while (say a year or so) while working on your edge and personal issues.

Anyway, good luck to you in whichever way you decide to proceed.


A man has to guard against many things, and most of all against himself - Jesse Livermore

Very sage advice.

 

[mute9003]

to be more specific is there anything i can do online(besides the obvious only fans or becoming a trading guru)

im well aware of my mistakes by now since i made probably every mistake possible that was described in trading books.
and i still dont understand how yall keep misunderstanding my posts and assuming the worst.
like. bro im not expecting to fn run my account down to zero every 6 months. where did you even get that.
i just need more funds so i can take more trades every day
with the share size that i feel comfortable.

i literally said im expecting losses. and everyone here is like oh bro you shouldnt trade if you expect ww3 to start and asteroid to crash into earth
do you not have losses when you trade?

 

[mute9003]

ive been around for 4 years or so. and finally went through full cycle of bull and bear market.
im new in terms of chart time im not new to the information. since i have been reading and watching mostly for last 4 years. now im trying to implement what i have learned and fill inthe gaps in my understanding of charts adn what drives them because that is the part of trading that most people cannot pass on to others. like mark douglas said. not every good trader can be a good teacher. yall forget that when you started those simple concepts also didnt make sense to you until they did.
just like me explaining engine operation to my kid the concepts dont make sense to him but are very basic to me

 

[ironchef]

i literally said im expecting losses. and everyone here is like oh bro you shouldnt trade if you expect ww3 to start and asteroid to crash into earth
do you not have losses when you trade?

Believe me, most of us are trying to help you.

I didn't say you shouldn't trade if you have losses. I said learned to limit your losses in every trade. My current win:loss is about 1:1 in my limited trading experiment.

Early on in my experiment, loss >> win on some trades, i.e., often, all profits were eaten up by one big loss.

 

[mute9003]

look at the replies.

 

[d08]

You have no family members or friends looking for some returns? If you think you wouldn't do them right then that's your answer.

 

[mute9003]

You have no family members or friends looking for some returns? If you think you wouldn't do them right then that's your answer.

Wherr did i say that im expecting big returns or ready to make millions?

This is exactly what im talking about.
Yall trying to sound smarter than the next guy. Trying to flex on eachother and feed your egos. Instead of actually understanding what is being asked.
I see this shit in almost every thread feom other people asking questions here.
Same group of people always derailing posts trying to pump their own egos.

 

[PPC]

yall forget that when you started those simple concepts also didnt make sense to you until they did.
just like me explaining engine operation to my kid the concepts dont make sense to him but are very basic to me

You're ignoring all the replies which interfere with your compulsion to trade (gamble).

Since you understand engines, here is what they'd tell you in "engine language."

 

[mute9003]

And again you assuming the worst case scenario that im clicking every possible stock trying to lose money on every trade.
Maybe look at your own mindset as a teacher before blaming the student for not understanding you.