Self Funding Start up Trader here - Help!

Perhaps Mr Charts would recommend a trading analysis book if requested

Thanks Guys, the info is invaluable. I have got an interview at Saxon and FCT. I actually have a much larger pot available (around 80k) but will only start trading with 20k and use 30k for a years worth of living expenses (thankfully I have a very, very low mortgage and no loans). As for trading style, well my life has been spent volatility trading and building arb models to pinpoint arb opportunities. However, as I want to trade futures and not options, I will be looking to use a trading style that will best suit myself and lends itself well to the futures instrument.

Living expenses sorted so no outside pressures - good
20k trading bank - good and not so good

Put 15k out of reach and start with 'just' 5k. Think in terms of percentages of that smaller bank.
If you screw up and lose 50%, thats 2.5k and not 10k.

When you have your style of trading showing regular profits, bring in your reserve money

Have you considered forex trading?

happy trading

pa

You still really need to decide what type of trading you're interested in, at saxon you'll be scalping most probably and I'd imagine the same at FCT. If you are putting down your own money then the advice paintace provided should be written in stone, pay your tuition on the smallest size possible.......
If you're going to try and position trade then you may need to look elsewhere but unfortunately I dont know anywhere that provides facilities for this- probably going through a broker from home. Are you trying to trade equities/futures/commodities/FX??

Sounds like excellent advice pa. Thanx. I have considered FX...why were you asking. To be honest, I am deliberately trying to trade anything BUT options. Confused? The reason is, I've spent all of my working life structuring them and fear that this knowledge could get in the way of me becoming a good trader. I'd rather trade an instrument that is totally new to me and hence avoid any arrogance or "know it all" on my part. I feel I'd be able to relly srart from scratch this way and build my trading skills bottom up, particularly as I am in this for the long term (hopefully, successfully!). Futures is still probably what I will end up trading. Unless there's a pertinent reason for trading FX

Minx, Im open, but my initial trading style is more suited to scalping and I believe that this is where I'll be more successful. I intend to take the advice (offered by pa and a few others) and start with a small pot (5k). FYI, I am trying to trade futures (probably commodities futures)

zuke

'I have considered FX...why were you asking'
My opinion is now biased towards forex trading, I see lot of benefits within it.
Reading through the forex section on T2W, noticed comments from experienced traders that moving to forex was more profitable then they expected. They found it easier to trade.

'To be honest, I am deliberately trying to trade anything BUT options.'
I've been looking into forex trading for a few months now and options have not been mentioned as the way to trade. Opinions yes, options no. Is price trending up or down?, keep it simple.

happy trading

pa