75K is bare minimum for somebody who is just starting an WILL make all the rookie mistakes like holding a loss till puke hits the keyboard. Can one make $$$ from 5K account? Sure but it ain't gonna be somebody fresh to the game.
Please have a look at the following threads; they might interest you: http://www.elitetrader.com/vb/showthread.php?s=&threadid=126368 http://www.elitetrader.com/vb/showthread.php?threadid=139691 http://www.elitetrader.com/vb/showthread.php?threadid=140557 http://elitetrader.com/vb/showthread.php?threadid=94538 http://www.elitetrader.com/vb/showthread.php?s=&threadid=78244&perpage=6&pagenumber=6 Wishing you good luck!
ThatsCapital, Keep your job as long as you can. Investment Banker is a highly sought after job and the money is good. I've heard the hours can be brutal, 90 hours a week is not uncommon. But look around you, I bet all your coworkers are in their 20s also. Why is that, because that's how the system is set up. How many IBs do you see around you that are in their 30s, some, but not nearly as many as there are who are in their 20s. Save as much money as you can, because extra money will give you the freedom to do what you want later. If your employer will pay to send you to a top MBA school, that's a good option because they think enough of you to pay for your MBA.
Trading is far better as a second career for someone who has accumulated a lot of money during their primary career. To start with $75k and try to make a decent living is tough, particularly since you apparently have zero experience. Are you barred from all trading or just equities? Why not trade commodities or currencies? They offer plenty of opportunities. I'd be very reluctant to leave a good job with the current tough economic times staring me in the face. Who knows how long they last?
I guess on some level I can't be serious, and 99% of the 'dreamers' will probably get all huffed-up with my suggestion, but: Move to Texas. Get a "tech." job at a children's clinic. Not hard especially if you are male. While being a tech; Get a masters in (Speech, Physical, or Occupational Therapy). You will probably meet a person worth considering your future with (Assuming your single, if not ignore this aspect). Become one of above in children's clinic; in an established economic area. Easier for males (This field is lacking males, pays well, and you are actually doing 'good' things everyday.) Even better if you like the idea of living 'overseas.' Enjoy life and wish that you never saw 'that' Wall Street Journal, or your first Level 2 screen. If you play your cards right; you may get the opportunity to open your own clinic. Being that you have a strong 'business' back-ground you will have a big advantage over 'others' in this regard. If done right this can be very lucrative. Now, you won't do any of the above (I wouldn't expect that), but remember this was once an option.
NOW, NOW. If you are dead set on "trading." DO NOTHING until you can find a mentor. How to find a worthy mentor? I have no clue.
advise you DON'T leave your post you are working, cause I have the same experience in that, wandering two months with hard searching but no reply, although I am in Guangzhou, China. the principle, I think, is same (I AM AN EXPORTER IN CHINA) And, If you want to be a trader and do some business in exporting&importing, you can do it in your part-time, DONO'T think it is hard. If you have any problems, you can E-mail me. MAYBE WE HAVE CHANCE TO DO BUSINESS. PS. I am in China, Just a little English