Self Funding Start up Trader here - Help!

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Old Jul 2, 2004, 12:03am   #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
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Old Jul 2, 2004, 10:07am   #12
 
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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??
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Old Jul 2, 2004, 10:54pm   #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
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Old Jul 2, 2004, 10:56pm   #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)
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Old Jul 4, 2004, 11:37pm   #15
Joined Oct 2003
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
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