US Soldier in El Paso Texas

Discussion in 'Hook Up' started by MichaelGhabour, Jan 25, 2015.

  1. I am a soldier in the military, I will finish my service in 2016, I love trading and am learning every day, I been trading for the last year, but recently made my mind to trade for living after my military service, I started a corporation and I really want to do this, I want to trade part time, make my capital bigger, because it’s under the pattern day trading range, by the time I get out of the military, I would have a decent capital.
    I am looking for friends in the area, who do trading, also I would love to have a mentor even online, someone that been doing that as corporation or LLC would be great fit, or just friend in general , please I would be happy to make some friends, of all ages and genders.
     
  2. Three words: buy the dip.
     
  3. xandman

    xandman

    Hi Michael,

    Welcome to the board.

    Jumping into full time trading right away is going a little too fast. First, you have an excellent GI Bill benefit. It gets you into college which could lead to a job with a professional trading firm. There is a steep learning curve. If you can do it with the firm's money and learn professional/proprietary techniques, all the better for you. Slow is smooth and smooth is fast.

    Additionally, the government is giving extra generous business startup loans for entrepreneurs. Running your business is more reliable income, but not without its own risks. Trading as a business has an incredibly high failure rate.

    For most of these guys on the board, who seem to be trading with a lot of money. They were probably rich to begin with. It's cooler to say that you made your money trading than a day job.

    Learn your market, learn your product, learn your method, find an edge. Feel free to shoot me a PM anytime. And remember, Opsec.
     
    KDASFTG likes this.
  4. bond_trad3r_II:i never heard that word, but i googled it, means i buy when price going down, which ofcourse right, i do that for long, and i do the oppisite if am shorting, but i also do it for short term, i cant sleep while holding position, still not that confident like that yet, but thank you alot sir, anything right now is tottaly appericated.

    xandman: yes i tottaly agree with you, am jumping into the corporation, but am not jumping for the full time, am taking a test drive for the part time side, then after that, i am already using my TA in degree in entrepreneurship, but going the whole route for education then job, am already have a career, and am looking to build my corporation, anything can be learned and it doesnt have to be with college, having a firm experince ofcourse would help alot, but as i said, that would require alot of education to reach there and alot of years to reach that area

    since i already started my corporation, i can work on my self taught education and use every resource i can find to educate my self, i am pretty sure am not going to be the first successfull day trader who is self taught, i can make sure that happen with spending more time educating my self on everything, no one is better than me and most important, nothing is impossible, hard work and effort and step by step it will be done!
     
  5. KDASFTG

    KDASFTG

    Greetings MG,

    Please listen up Troop! You’ve asked for and received some excellent advice from ET Xandman. But I can fully understand your reluctance to go the college route. As I see it, this is 4 years away from doing something you’re interested in, while attempting to do something that you’re not particularly interested in. Though most education is not wasted, from your perspective, it could represent time and money that could have been better spent. I fully understand,...so that is how I will proceed forward.

    In any case, I believe that there are some essential points of order that need to be brought to the surface, worthy of your serious consideration. In my opinion, you need to reassess and regroup before proceeding any further. In my assessment, I think that your time before separation should be used to execute the following:

    1. I think that your incorporation action and decision is both admirable and noteworthy, but at the current time,...I believe it to be wholly and enthusiastically premature. It seems that you have already made a life changing decision without having access to all the essential facts and information. This kind of decision needs to be made in careful considerations of the proper facts, research, investigation, and operational data. None of which is in your possession at this time. However, your personal decisiveness is an excellent character trait for this particular business,...and to your credit, has been duly noted.

    2. You have demonstrated initiative, forethought, and a strategic planning capability. And these are also admirable qualities. But your inadequate knowledge of the terrain ahead, potential obstacles, and the strength of the opposing forces before you is seriously lacking. In my mind, your proposed mission as currently being planned and executed, has a very low probability of success or survivability. Therefore, your pre-planning and preparation needs to be extensively reassessed and revised.

    3. You first need to fully educate yourself on the nature of this business, to insure that this is the right field of endeavor which you really want to pursue after leaving the service. This is not something to take lightly or casually. Ill-fated forays in this field of endeavor can have lasting and dire consequences for the unprepared or unaware. This Forum can help you in navigating that process. But as you will soon no doubt discover, this Forum is not without its problems/detractors. But for a fact, it can still be made to work for you in spite of these things.

    4. To this end, you need to start the process of building and creating your Trading Plan (Business Plan). You will discover that this project in and of itself, is an extremely valuable educational experience. The Trading Plan is not a static document. The properly constructed Trading Plan is dynamic in nature, and intended as a "Living Document" changing and growing as you change and grow as a Trader. And further, the possession of a viable Trading Plan is the hallmark of a professional in this business, and I'm assuming that this is your desired career objective. (Check out the “SLA Threads by Dbphoenix” for a fine Trading Plan example to start).

    5. While you have the time, search though the ET Archives for Journals of people who have attempted, or are currently attempting to do what you want to do (I can provide you with some good learning examples). You have the time now, so read and study them from start to finish, taking copious notes where applicable. On your personal computer start a: “Your Eyes Only Journal” in your own words, stating and documenting where you currently are now in your life plan, who you think you are, where you want to go, and how you intend to do it. Remember;“You can’t know where you are going, until you can fix where you currently are”. In future, this "Eyes Only" Journal will merge itself into both your personal Trading Plan and your Trading Journal, and aid in documenting your daily interactions with the market during your career. For a moment, just imaging how valuable a Personal Journal of your military/combat experiences would be to some new troop just arriving in theater.

    6. Use this Forum to ask questions, but before asking a question, if applicable, please first provide your own personal answer to the question. By creating a habit of doing this you will then be able to see and gauge where your own “thinking” was prior to receiving outside help. This will aid you in building “Confidence” and “Trust” in your own good mind and capabilities. As you will learn, these two personal characteristics are essential to one who seeks to become a professional in this business. You will find that as the months pass, you will begin to see and experience change, learning, and understanding, in some unexpected areas. And for sure, along the way you will no doubt face some monumental challenges to your mind and spirit. However, this is where your military experience and discipline will pay huge dividends, as you faithfully "press on", to guide and navigate your ship of state during trying times.

    In summary, all that I have provided in this brief missive is but a starting point on your new endeavor, there is obviously significantly more to come. If you have other questions that you don’t wish to describe on the public forum, send a PM.

    If you want it,...I've got your “Six O'clock” on this mission Troop.

    Just let me know if you want my particular brand of "Close Air Support" on your mission.

    KDASFTG
     
    Last edited: Jan 25, 2015
    jsmacksem, IAS_LLC and MichaelGhabour like this.
  6. First of all, excuse my grammar, I know sometimes I miss some stuff, English is my second language.

    KDASFTG, xandman advice is outstanding one, I also I think I didn’t explain myself at first good, yes very true, that’s the only way I can explain it, 4 years of college, plus a good 5 year working in a firm to get experience, this time can be spend to learn on my own, and trade part time even in worst case.

    1) This decision wasn’t coming out premature, I actually was planning to open a fast food joint, am more on the entrepreneur side, I been studying running my own business for a while, I have studied and learned everything about the starting and compliance as much as I can, of course there is a lot of more stuff, and while on side trading, I notice that I would be doing way better doing business as trader and would make me happier.

    I have been trading for a year now, I made acceptable profit, and some acceptable losses, I been trading with Trade station, I learned a lot on my own, with eager and hunger for more, till I found a DVD set of 24 DVD from the online trading academy, and so far, that DVD set is really feeding my hunger for knowledge, I doing nothing everyday beside spending half the day, investigating, researching, and looking for stock market or economy or running a corporation.

    My idea of starting the corporation, is to learn all the compliances while am actually not busy running a business yet, law and accounting wise, find my way around small book keeping, put everything I do on paperwork as map to my future opportunities

    2) One is my best abilities, is to reassess and revise/recourse, I have no problem with that, I have no problem admitting I am doing something wrong, but as far as the course am taking, I believe is the best decision I made in my life, yes there will be a lot of obstacles, and yes I will jump that and clear it out of the way, the success will be upon altering my trading way to what I been learning lately.

    3) I been studying everyday as much as possible and educating myself about stocks and strategies, and trying to plan and develop trading plan, until I lately found that DVD set, but on my positive side, I think specially in this business, everyone learn something new every day and every trade, no matter how long you been in the game, something will make you open your eyes more every time, but yes, I been changing my strategy dramatically in the last month, I realized (even while being acceptable profitable) I was playing in un healthy direction, and I don’t mean to sound trading without knowledge, but my knowledge was being built on a concrete base.

    And yes I really feel welcomed in this threat thanks for everyone here and their golden advice, and I would love to build a friend base out of here

    4) I had both, trading and business plan, all thrown out, after I finish the course I am doing I will be writing new one for both.

    5) Journal sounds great idea, I never read one for a trader but thank you for this great idea, and I think you right about writing my own too,

    6) Great advice on this one and I actually lack on that one, I never notice that, but know that you changed a way of a man thinking today, ask myself the question before I ask for answer and see if I can answer it myself or what would be my best answer


    And last but not least sir, I am a very goal motivated, I never failed in any goal, I make my goals happen, I might face a bump or obstacle, it might even break my axles, but I will get another axle and jump it better the next time, nothing is called failure in my book, it’s called un trained or not enough educated or not enough familiar with the subject.

    I also followed you, am getting familiar with ET. And defiantly I would be very interested in hearing from you sir.
     
  7. Redneck

    Redneck

    MG


    Welcome Sir!


    First…, Thank You for your service

    And I especially like that bit of hardware you’re holding in your picture :cool:

    =============

    KDASFTG and X-Man are good people – listen to em

    Also – don’t allow the last year’s results to lull you in – in a bull mkt every trader and their blind dog can make money

    Mkt goes through life cycles – each has their own unique characteristics…, and way that character must be traded

    Entering into this..., tread gingerly – as if you are navigating a mind field – because in fact you are

    And listen intently to these two gents

    ================

    Becoming a trader is not impossible – but will take concerted effort…, and attention to every detail – minute or otherwise

    It will literally test every fiber of your being

    If you smart…, strong willed…, a hard charger…, opinionated…, unafraid

    In the military - these traits are highly valued and rewarded

    In the trading world – they will kill you quickly…, dead as a doornail



    Successful Journey Sir

    RN
     
    jsmacksem and MichaelGhabour like this.
  8. %%%%%%%%%%%%%%%%%%%
    Congrats on US service, Mr M;
    markets like SPY,DIA, QQQ generally go UP like a patriot missle.

    But like a .223 bullet or even a 30-06; they eventually drop;
    but unlike a .223, SPY, QQQ, DIA hardly ever hit the ground. Stock indexes Markets move mostly like a patriot missle
    BAC, C..... tend to downtrend;
    Citigroup could easily hit the ground,[BEAR Stearns, LEH hit the ground] they already kicked it out of the DOW.

    PS Jack Schwager top trader books help; that IS wisdom, not a prediction. I don't type fast or trade fast; 200 day moving average , as IBD notes, helps. I have sometimes posted/answered after 200 days........

    Have you gotten your free 10 day IBD newspaper??????????????????????????????????????