You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
this one is for all your noob traders
- Thread starter vincentnyc
- Start date
Good to see someone saying start with a small amount cause what ever you put in your going to lose, remember that all you need 20K+++ or don't even bother people.
There's a good reason 25k is a magic number.
You eliminate PDT rules.
More over, having more capital to start is always better than having less capital to start. Trading isn't a win/lose game. It's a game of managing probabilities. The long run risk of ruin with smart money management is small, and your goal is to have your average profit be positive.
Anyone who thinks starting with 25k is foolish, is a fool themselves. You may be able to dip your toe into options, but nothing with real edge without taking significant risk. When you want to trade indexes, large companies, futures, etc the number of trades you have until ruin on a small account is significantly smaller, which means you can't let the law of large numbers work in your favor. In futures, a small account means your stops aren't wide enough.
There is absolutely every reason on the planet to have a decent account size to start trading. As an analogy, you could go to a 1/2 no limit table with $100 and a GTO perfect playstyle and still blow out. You need cash to let the averages work in your favor. Period.
If I'm not mistaken this guy runs a spread betting channel, which uses CFDs (also called money furnaces). You need to take everything these hucksters say with a heavy helping of salt. His general advice is good - but "just trade with whatever you have" - HAHA
There's a good reason 25k is a magic number.
You eliminate PDT rules.
More over, having more capital to start is always better than having less capital to start. Trading isn't a win/lose game. It's a game of managing probabilities. The long run risk of ruin with smart money management is small, and your goal is to have your average profit be positive.
Anyone who thinks starting with 25k is foolish, is a fool themselves. You may be able to dip your toe into options, but nothing with real edge without taking significant risk. When you want to trade indexes, large companies, futures, etc the number of trades you have until ruin on a small account is significantly smaller, which means you can't let the law of large numbers work in your favor. In futures, a small account means your stops aren't wide enough.
There is absolutely every reason on the planet to have a decent account size to start trading. As an analogy, you could go to a 1/2 no limit table with $100 and a GTO perfect playstyle and still blow out. You need cash to let the averages work in your favor. Period.
If I'm not mistaken this guy runs a spread betting channel, which uses CFDs (also called money furnaces). You need to take everything these hucksters say with a heavy helping of salt. His general advice is good - but "just trade with whatever you have" - HAHA
For Stocks yes, but 50K or don't bother is normally handed out to Futures and FX and all traders pretty much.
But if you start off with 25K cash, open account 2K blow it, then you can refund it 11+ times before your out of the game, I've got 1 mate put £110K GBP in, trading Telewest for small profit 3 or 4 times, then got stock and held it to zero, losing £110K.
Size or more money, does not give you an edge, just more greed and fear and more revenge trading to get back losses which will most likely just lose you the rest.
Law of Numbers, no such thing, you need to be able to take a few losers ofcourse, but you need a method which keeps the number in pretty tight check, being able to keep trading till you eventually get lucky enough to get a good win isn't a good trading strategy.
I've got a 3K account ( trading with $200 currently in 1/10th size, till head sorted ) see keeping the account small, can trade $5 per point on YM just fine with a 15pt SL. ( $1 per pt currently )
18 years of trading and not retired rich...?
professional traders are profitable everyday if daytrading and profitable every month and profitable every year.
1 guy out a million? that is BS
your not a professional if you lose money.
I'm on 20 years and still getting there, if i got there today still be another 5 years till rich.
Too much shit gets in the way, Life! 20 years flies by too damn quick to.
(also called money furnaces)
lolol omg laughing so hard I love this
But if you start off with 25K cash, open account 2K blow it, then you can refund it 11+ times before your out of the game
I would think that this approach would prevent the person from feeling an adequate amount of pressure to succeed. Lose 2k? No big deal! Just refill your account!
Nope, that wouldn't work for me. The pressure helps me. I don't think blowing up an account is a rite of passage or should be expected, ever. But ask me again in a year after I've blown up my account, lol.
And dont forget its more easily accessible cash to lose... he dont have to go thru the trouble to deposit more to loseThere's a good reason 25k is a magic number.
You eliminate PDT rules.
More over, having more capital to start is always better than having less capital to start. Trading isn't a win/lose game. It's a game of managing probabilities. The long run risk of ruin with smart money management is small, and your goal is to have your average profit be positive.
Anyone who thinks starting with 25k is foolish, is a fool themselves. You may be able to dip your toe into options, but nothing with real edge without taking significant risk. When you want to trade indexes, large companies, futures, etc the number of trades you have until ruin on a small account is significantly smaller, which means you can't let the law of large numbers work in your favor. In futures, a small account means your stops aren't wide enough.
There is absolutely every reason on the planet to have a decent account size to start trading. As an analogy, you could go to a 1/2 no limit table with $100 and a GTO perfect playstyle and still blow out. You need cash to let the averages work in your favor. Period.
If I'm not mistaken this guy runs a spread betting channel, which uses CFDs (also called money furnaces). You need to take everything these hucksters say with a heavy helping of salt. His general advice is good - but "just trade with whatever you have" - HAHA