ok i am profitable what next

[trader001]

Hi,

My trading experience with fx started a few years ago. Beginnings were tough and after loosing some money, i promised myself i will not go back to live with substantial capital unless i am profitable on demo. And here i am... It happened, i can make demo money out of this monster. Reasonable drawdown, money management in place, etc.

But the problem is, my circumstances have changed dramatically last year, and i have been laid off from my job, so no money for trading for me right now. Having some time on my hands, i went to higher frequencies and started working on M1, M5, M15 trading. Works!

Having spent 1000's of hours trying to battle it, it would be pity to let it sit idle. i looked for job with local hedge funds/banks/trading firms, and got no response /i don't have any financial background, and i am 35/. End of last year i took a university course on financial markets.

What to do next? Maybe someone was in similar situation? Maybe there are funds hiring bedroom traders? Test & hire would be the only option here for me i suppose.
I would be thankful for any advice.

 

[ZEN archer]

Deja vu?

 

[BeginnerJoe]

Deja vu?

No. He only made 5% from his starting capital unlike the other demo traders who makes 0 to 1 million in 5 minutes. I think we have a legit one here at last.

 

[ZEN archer]

He only made 5% from his starting capital unlike the other demo traders who makes 0 to 1 million in 5 minutes. I think we have a legit one here at last.

If you say so:whistling

 

[trader001]

Very legit.

MT4i - Statement for trader0001

No. He only made 5% from his starting capital unlike the other demo traders who makes 0 to 1 million in 5 minutes. I think we have a legit one here at last.

 

[timsk]

What to do next? Maybe someone was in similar situation? Maybe there are funds hiring bedroom traders? Test & hire would be the only option here for me i suppose.
I would be thankful for any advice.

Hi trader001,
Welcome to T2W.

I understand fully that money is tight for you right now but, if at all possible, open and trade a live account with real money. Even if you only fund it to the tune of £100 and trade the minimum lot size, this will tell you so much more about your trading skills and the effectiveness of your methodology than a demo account will. Additionally, in the event that you apply to a prop' firm, being able to show live account statements instead of demo ones will certainly stand you in good stead. If you want to investigate this option, check out this FAQ and the links in the posts that follow it: How Do I get a Job Trading?
Enjoy!
Tim.

 

[trader001]

thank you Timsk

Hi trader001,
Welcome to T2W.

I understand fully that money is tight for you right now but, if at all possible, open and trade a live account with real money. Even if you only fund it to the tune of £100 and trade the minimum lot size, this will tell you so much more about your trading skills and the effectiveness of your methodology than a demo account will. Additionally, in the event that you apply to a prop' firm, being able to show live account statements instead of demo ones will certainly stand you in good stead. If you want to investigate this option, check out this FAQ and the links in the posts that follow it: How Do I get a Job Trading?
Enjoy!
Tim.

 

[Billy Gates]

Try these if you are happy being tested before being funded.

Global Trade Consulting, Global Trading Consultants, Global Trade Consultants

 

[Predicabo]

Hi,

My trading experience with fx started a few years ago. Beginnings were tough and after loosing some money, i promised myself i will not go back to live with substantial capital unless i am profitable on demo. And here i am... It happened, i can make demo money out of this monster. Reasonable drawdown, money management in place, etc.

But the problem is, my circumstances have changed dramatically last year, and i have been laid off from my job, so no money for trading for me right now. Having some time on my hands, i went to higher frequencies and started working on M1, M5, M15 trading. Works!

Having spent 1000's of hours trying to battle it, it would be pity to let it sit idle. i looked for job with local hedge funds/banks/trading firms, and got no response /i don't have any financial background, and i am 35/. End of last year i took a university course on financial markets.

What to do next? Maybe someone was in similar situation? Maybe there are funds hiring bedroom traders? Test & hire would be the only option here for me i suppose.
I would be thankful for any advice.

For the record, fins don't work this. Plus no fin would hire you on the basis of your demo trading activities in any event. You're also too old to start off that career and don't have solid degrees in any area that would be of interest to anyone in the business. If you've found a way to make a reasonable return doing what you've been doing, get a job, any job and channel all your disposable into trading. Leverage it up. Convince family and friends to loan you money.

 

[Predicabo]

Oh, and don't go down the prop route or go with anyone that wants you to give them your money.

 

[Hoggums]

If that's a graph of your return - Your strategy is only profitable for 1/4 of the time. (and this is demo/backtest - so the results won't be reliable).

Do you think someone is going to invest in you when you have an untested strategy that loses money for 9 months of the year??

 

[NVP]

assuming this is a legit thread .......there are 2 strands to this

1) If the trader in question really can trade and make money over the long haul
2) where they find the capital to do it


same as any entrepreneur really.....so I would advise the trader to go back and keep practising their art so they are not kidding themselves (and anyone else)......and then beg steal and borrow the money to take it live ......

good luck
N

 

[ZEN archer]

assuming this is a legit thread

It must be - there was a similar thread/story (a good trader with no money)on T2W some time ago. Maybe it's good to send him the money, so he can trade. What can possibly go wrong?

 

[Lax_Van_Dumb]

It must be - there was a similar thread/story (a good trader with no money)on T2W some time ago. Maybe it's good to send him the money, so he can trade. What can possibly go wrong?

If genuine, go self employed, do anything in your skillset to make money and spend nothing for a year. Your self esteem will improve a lot.
If non genuine , just put yer wife out on to the streets as a sex slave, for a few months, thazts the sympathy level you can get on here. Taken you awhile to become a member here hazent it?:clap::clap::clap::clap::clap:

 

[BeginnerJoe]

then beg steal and borrow the money to take it live

All that for a 5% gain ? There would be less work and more money in flipping burgers.

 

[trader001]

Reg1
Yes, it hasn't been proven yet. Demo was started mid Oct 2012, and breakthrough point falls on mid of Dec, i could assume that at that stage the strategy has been ready to be more less consistently profitable. But surely, every single strategy only works, until it doesn't so i am still adjusting and improving as i go along.
But on the other half, how long would i need to trade to prove it is profitable in a long run? If a well established bank is able to loose a half of clients deposit, then a single trader would have to work infinite amount of time to prove his own profitability /considering number of people involved and resources on hand/.

assuming this is a legit thread .......there are 2 strands to this

1) If the trader in question really can trade and make money over the long haul
2) where they find the capital to do it


same as any entrepreneur really.....so I would advise the trader to go back and keep practising their art so they are not kidding themselves (and anyone else)......and then beg steal and borrow the money to take it live ......

good luck
N

 

[trader001]

Thank you for truthful post.

I have a degree in business and project management professional experience. But still... it is far away from world of finance.

My family doesn't have those money to spare, and because of that, i would be afraid of doing it. As well, i have a feeling that when a bad week comes, it can turn very sour. I love my family, but "doing business" together... we haven't tried that yet.

"FIN"? I assume you mean a hedge fund/bank/prop trading firm. Is that correct?

For the record, fins don't work this. Plus no fin would hire you on the basis of your demo trading activities in any event. You're also too old to start off that career and don't have solid degrees in any area that would be of interest to anyone in the business. If you've found a way to make a reasonable return doing what you've been doing, get a job, any job and channel all your disposable into trading. Leverage it up. Convince family and friends to loan you money.