Hey guys, I'm 20 years old, no college only work experience and I want to become a day trader. I've talked with some of you about the risks and I understand but trading really is my passion. I have about 5k to my name and have a full time job making low money. I obvioisly need leverage from a prop firm but I have no money and have no access or family to get more money from. I eventually want to do this full time but I don't have money to go to college only study online. Where should I begin if you were me? Don't tell me I shoulnt trade, I'm positive every day on my simulator account and I love it. Always have been interested since I was a little kid. I love in california so if anybody has any legitamate firms to reccomen do or what my next step should be im all ears, thanks!
What do you trade with your simulator ? Forex offers plenty of leverage.. more than what a prop firm can offer.. Imagine all the money you can make with 1:100...1:200..
All I can recommend is that you don't spend a dime of that 5k on courses/DVDs/penny stocks alerts and all the assorted crap. The guys behind them are professional dream sellers, and you sound like the perfect candidate. To be forewarned is to be forearmed
Since u really love day trading and make profits with your simulator account, why not go to open an account and do real trading. There are many many prop firms who can provide leverages. Otherwise, some firms are hiring new traders with training offered. Just do it.
Anybody who buys anything from someone just because he's on a beach or driving a Lamborghini...deserves to be taken advantage of. Live and Learn. Welcome to the school of hard knocks.
If he goes for those 100, 200 + leverage options, he will lose his money. I guarantee it. I only started to make money when I reduced that leverage to less than 1:10. I'll let you do the math to figure out how much you need to deposit to make 1:10 or less worth your time and energy.
I live in California and have no problem hiring bright, ambitious 20 year olds who are passionate about trading. Here are three faux pas you have made which throw up red flags. 1) You have already asked substantially the same question. You got some answers but seemed to be unable to discern truth from error or to dig deeper with anyone. 2) Your posts contain WAY too many grammatical and spelling mistakes. 3) You say that you are 20 but your profile says 21. Taken together - or even separately - these make everything you say feel disingenuous. Fixing that perception is where you should start.
1. This post wasn't supposed to be for a job interview but I agree I should be more sensitive to my grammer. 2. I just want to get as many opinions as I can before jumping in. Ex: learning what to study on my own/firms that meet my qulifications. 3. Keeping in mind that you do have a firm here in California, I'm interested in at least learning about your company to see if we could be a good match for each other. If not, that's fine as well. Just let me know, I'm full of abition and would love to enter this field. Thanks.
Out of curiosity, both myself and someone else mentioned topsteptrader.com and you never replied to this suggestion. You keep saying you have no money, and it sounds like these guys will throw money at you as long as you can show you know how to trade over just 10 days, and so although this should be a perfect match, you completely glance over this suggestion and start another thread with exactly the same question. If you really already know how to trade, you don't need to worry about your construction business or real estate, or even going to school for that matter. NoDoji also made a really great post in your previous thread asking about your SIM trading, trying to figure out if your results are actually real enough or not (and hence could carry you from SIM trading to live trading), and you didn't reply at all. Any questions related to trading you haven't been able to answer, and yet you are so sure of your trading ability. So I'm sorry but you seem to not have the best intentions with all your posts here.
I have heard not so good reviews about them but I'll look into it again. I know I made a new post but I wanted to gain a little more insight on how I should start or what I can do now to start, perhaps I am over analyzing everything.