I spent the last two years losing money, and have finally developed my own profitable mechanical trading system along with money management methods and rules I follow. Backtesting result is great and doing good in real action. The problem is I have too little capital to trade with. What do I do from here?
PM a guy here that goes by the name TraderZones. He is far and away the most profitable trader in our hemisphere, just ask him. I'm sure he'll be able to lend you whatever amount you need.
Quote from sicktraderIV: PM a guy here that goes by the name TraderZones. He is far and away the most profitable trader in our hemisphere, just ask him. Yes, obviously said that many times I'm sure he'll be able to lend you whatever amount you need. Too bad you don't have any money to lend... You must have blown your wad getting to the library freebie PCs to type up your post...
first i would make sure that the system is going to be successful in the future by demoing it for atleast 3 months min.. as with most mechanical systems it will break at some point ... noted as Risk of system death.. depending on how much u make per month if u work a 2nd job and trade longer TF's and deposit money everymonth into your account you can raise enough to live in a year 1/2... but since the way it sounds is you havent done enough testing by the way youve worded things i probably wouldnt...
I have done extensive testing with the system and have been day trading it for four months everyday. I am aware of system death, black swan and all that. I hope to find out how successfully traders do after they've developed a working method. Maybe successful traders dont even bother coming here as I can see those replies other than yours above are totally losers bullcraps . sigh.
They trade through a complete market cycle before announcing to the world that they are successful and ready for investors. Because of the raging bull market we've experienced in the past 4 months, your short term success would not have any meaning to an investor. A simple buy-and-hold strategy would have outperformed the vast majority of traders and managers.
do you want to manage other people's money or trade prop? for prop i would find someone who wanted to put up some capital and split profits. say you put up 20 they put up 80, you do the trading and split 50/50. buy enough ramen noodles to last the time it would take your model to make 1000 trades. the road is much more difficult as a manager. ssb
I see that you've spent two years learning to trade. That's how long it took me and that seems to be the magic number for a lot of traders. That said, I don't trust backtesting as being conclusive. Only live trading will show you what you've got, and even that can be misleading at times. For now, let's assume you're on the path to consistent profitability. Here are my questions for you: 1. Are you a daytrader? Do you need to be in front of the screen or can you support yourself in some other manner while continuing to trade your account? 2. If you work a job and trade your account, how long would it take you to get to the point where you could support yourself trading? Do the math on this one and be honest... it's the way most private traders make the transition. Can you get from here to there in 2 years? Five years? 3. Are you looking to invest other people's money? If so, it will probably have to be family and friends. It is unlikely that anyone else will invest in you until you have a long and strong track record; but you can try the prop-shop approach if that appeals to you. A word of caution as you think about these questions: If you look at trading as a get-rich-quick proposition, you're going to be seriously dissapointed. Take a long-term view -- at least five years -- as you develop your plan for being a successful private trader. As a final note, if you want specific advice, you'll need to ask specific questions.