Hey guys, I'm not looking for an answer along the lines of its impossible because even though most people fail, there is somebody doing this and making a lot of money. I'm 20 years old and I have always had a passion for the market. I have a simulator account with 25k and only get to trade for 30 minutes a day and I never make less than 150. Full time I think I can make a lot more and I've studied graphs and the probability game all makes sense to me. My problem is that I have a full time job that pays nothing, no formal education, and 5k to my name. So a prop firm it is, am I right? However I've done extensive research and t turns out they are all educational scams besides a small few. I live in the United states and do not a have a series 56 liscense. CY group seems to be very legitamate but that's the only one I can find but Id have to get a loan for the 5k to deposit. Any LEGIT prop firms that give good leverage for 2500 capital contribution and under that allows US traders? Seriously any advice would be great but this is seriously my dream and I'm good at it so don't try and steer me away, I understand the risk. If worse comes to worse I'll move in my car save 5 more grand and trade with CY.
If you day-trade, you will have a limit on the number of contracts you trade due to liquidity, hence, limited profitability. The larger your contracts, the more slippage you will experience and possibly lesser profit than expected.
Let's assume for a sec that your post is not a joke. You need a bit more capital, period. 30 min is nothing. You can trade European market (means waking up around 3 am, if you live on east coast) or Asia markets. They open around 7-8pm eastern time. You absolutely need a day job with that kind of capital. Next, learn computer programming. Automation is the key. Good luck.
Have you come across https://www.topsteptrader.com/ ? I don't have any experience with them, but there are a few threads here. Basically, you SIM trade through them for 10 days to pass a test, and then they give you a certain amount of capitol to trade. Check it out, and read some threads about it here.
Thanks for answering, I'm dead serious. By the way if I save up 5k for CY they give me 100k to trade with which will be nice. I'm also in the real estate game where houses cost at least half a mill, and I have a construction business. I'll look into automation, thanks for the info!
Bet it all on an options trade. then do it again, and again. -- you'll be rich in no time with that sh*t compounding.
You're into real estate, own a construction business and only have $2500 to trade with, doesn't add up.
They are all starting out, I just got my real estate liscense, and I'm inheriting my contractors liscense, and I'm looking to start investing as well. I'm currently working a day job and starting out on my own as an entrepenuar. I'm only 20 so keep in mind it's going to take me a couple years to get everything going, but unless i can find a prop firm that allows 2500 dollar capital im going to wait until I have 5k to spare for access to higher leverage.
...You gotta slow down...you can't be Great at everything. -- Be a Master of one, not a jack of all trades.