advfntrader
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is this a good idea ?
Trading Redundancy Money...
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shadowninja
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Depends. Are you (or the person with the money) a **** hot trader or a **** trader? If the former, go for it, if the latter, demo trade or brush up your CV.
donaldduke
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Money is money, as long as you dont need to spend it anytime soon (ie within the next 12 months), then you can trade with it.
It all depends really. The best position a home trader can be in is to have really low overheads, no debts etc. Take the redundancy, sell the house, live in a camper van and away ya go. Be free like a bird and sh!t on people!
Hoggums
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Shadow - this is advfntrader we're talking about here.
adv - Find another job and put your money in a bank account. Don't put it anywhere near a trading account.
B
Black Swan
Shadow - this is advfntrader we're talking about here.
adv - Find another job and put your money in a bank account. Don't put it anywhere near a trading account.
Oof that's harsh...but good advice...
arabianights
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For you, no. It's a terrible idea.
Have to be cruel to be kind here, but I honestly think you'd be better off giving up.
shadowninja
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I'm not accusing anyone of anything. He may be a trading god just trolling trading forums for ****s n giggles.
advfntrader
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good adivce. given my poor (appauling) track record my money will be going into savings and I will get another job.
B
Black Swan
make sure then new job isn't copywriting...
To be serious for a mo' why can't you make it work? Suggestion; why not finally obligate x amount of the package, perhaps 10%, in order to see if you can finally make it work for you? Excuse the pun but there's often a pivot point where you have to make it work/or it clicks... whatever your decision and looking at the threads where I've come across your involvement, you appear to be one of the good guys, you've always taken the leg pulling with good grace and humour, wish you luck whatever you decide. 
robster970
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Just to echo what BS has said, have one last fling but only lose what you can afford to lose. If you lose for this last time, walk away and don't return. Setting these boundaries before you start and really meaning it might just shove you into trading profitably. At worst you'll know it's not for you and move on with your life.
advfntrader
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my problem was in the beginning I threw a few £k into an account and quickly lost it and more as I had no idea what I was doing......I then studied, learned and demoed. Over the next year or so in between demoing I blew £100 here, £200 there in small amounts though. I couldn't make it work. I think that maybe if I had 1 more try with say £1k or £2k it might be different as I would be better capitalised.
arabianights
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How about doing matched betting for a bit? That'll make you a few k. Then invest that in a trading account... you'll essentially be playing with house's money.
advfntrader
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I've heard this can be very difficult, accounts here and there, moving money about etc. for small gains ?
arabianights
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Yup. But easier than trading for sure
If what you've been doing up until now hasn't worked for you then before you do anything else you have to do one of two things (or maybe both)
Change the method or system you have been using and/or change your outlook, attitude etc to trading. If you don't then you will almost certainly suffer the same old, same old and lose some more of your money in the process.
Sounds like you're in a very good position, you've made the mistakes, lost the money got the tee shirt. Now you have some capital which you could as you suggested allocate say £1K to trading. Use the previous learning experience, take the time to find something that works for you, trade small amounts (no pressure on your bank), and concentrate, concentrate, concentrate. Of course if you have a method/system that you know works and you have some real belief in this will come remarkably easy, as will the discipline etc.
Just like going into a new business ~ you decide on the product/service (method/system); you thoroughly check and test it (belief); work out the marketing to get the business (your trading strategy); establish your overheads, sales & profit targets ( your money management), then you work your butt off (well trading from you comfy seat in front of the PC isn't exactly the same but you still have to apply yourself).
Don't give up I say. All the best.
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