$2000-newbie journal

Discussion in 'Journals' started by bull, Jul 9, 2003.

  1. bull

    bull

    I've started this thread to relate my experiences in trading an $2000 IB account. I know this is not the way to start off, limited capital, limited experience, but this could serve as a learning experience to all those who wish to do the same. Trading will commence on 7-10-03 with the hopes of bringing the account to 5-10k to open a prop firm account. Not going to use margin-trading equities and possibly in the future SSF's. Due to the PDT rules, I will trade 3x in a five day period. The strategy is to trade volatile stocks intraday using TA to find the bottom. Wish me luck, I'll need it and we'll see what happens.
     
  2. You should try swinging options. Good luck in either case.

    -FastTrader :cool:
     
  3. If you have decent trading experience you can make a run at it with just 2k. Being a newbie at it will make it harder but if you play your breakouts carefully it's definitely possible.

    Just ignore all the negativism that will surely pop up here before too long.

    Good luck and keep posting.
     
  4. dbphoenix

    dbphoenix

    Have you done any paper-trading or simulated trading in order to determine whether or not you have the skill to do this consistently?
     
  5. bull

    bull

    Yes. I've backtested and papertraded, but its not a substitute as I know to the real thing.
     
  6. dbphoenix

    dbphoenix

    Whether it's a substitute or not is not really the issue. Paper-trading has its own purposes, chief of which is determining whether or not the strategy or tactic works on some level.

    For how long did you paper-trade this particular strategy?
     
  7. bull

    bull

    6 months, did it in real time to increase the accuracy as best I could. Profitable. 30% increase average after the first month. Made some really dumb mistakes the first month, such as trading on a "feeling" or after hours on news without the benefit of charts. I'm not rich, obvious from the starting amount, but its the best I could do. I need to watch my head and not let my money be fearful of entering a trade now that its the real deal.
     
  8. PetaDollar

    PetaDollar Moderator

    I think what you're doing is great.
     
  9. FinStat

    FinStat

    good. even if you lose all your money (and you easily could) you will come away with greater clarity on the matter.
     
  10. BudFoxx

    BudFoxx

    You should deposit 3k more and trade futures... you can make more if you have the right strategy do to the higher leverage.
     
    #10     Jul 9, 2003