Self Funding Start up Trader here - Help!

This is a discussion on Self Funding Start up Trader here - Help! within the Home Trader forums, part of the Trading Career category; Really depends what type of trading you're trying to learn, if you'll be holding positions then I'd suggest opening an ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jul 1, 2004, 10:48am   #8
 
minx's Avatar
Joined Jun 2004
Really depends what type of trading you're trying to learn, if you'll be holding positions then I'd suggest opening an SB account and spending a few months placing small bets based on your trading plan. Dont forget to backtest your plan over and over again.
If you're interested in scalping then you should go with one of the arcades as it's quite a difficult and intense process and you may as well let someone else pay the tuition for you...
Definately read adn learn what you can wherever you can and keep and open mind with everything- its surprising where inspiration comes from.
minx is offline   Reply With Quote
Old Jul 1, 2004, 11:05am   #9
 
Pat494's Avatar
Joined Mar 2004
Perhaps Mr Charts would recommend a trading analysis book if requested
Pat494 is offline   Reply With Quote
Old Jul 1, 2004, 10:22pm   #10
Joined Jun 2004
zuke started this thread 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.
zuke is offline   Reply With Quote
Old Jul 1, 2004, 11:03pm   #11
Joined Oct 2003
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
PAINTACE is offline   Reply With Quote
Old Jul 2, 2004, 9:07am   #12
 
minx's Avatar
Joined Jun 2004
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??
minx is offline   Reply With Quote
Old Jul 2, 2004, 9:54pm   #13
Joined Jun 2004
zuke started this thread
Quote:
Originally Posted by PAINTACE
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
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
zuke is offline   Reply With Quote
Old Jul 2, 2004, 9:56pm   #14
Joined Jun 2004
zuke started this thread
Quote:
Originally Posted by minx
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??
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 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Interactive Brokers - Funding Davros Brokerages 23 Apr 4, 2014 4:10pm
funding question krazee-k First Steps 13 Dec 23, 2004 1:02am
Funding an IB account Money_magnet1 Brokerages 5 Dec 16, 2004 12:00am
Trader Workstation Start Storm Techies Corner 5 Feb 4, 2004 11:25am
Funding IB Account $ or £ Trader333 Home Trader 7 May 15, 2003 3:57pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)