getting started

Discussion in 'Professional Trading' started by Randomjoey, Aug 24, 2007.

  1. I have been Practising sim trading on eminis now for abotu 8 onths, returnign pretty good results, averaging 20-30ticks a day and profit factors usuall between 2-6. I am curious to see if anyone has ever started live traded with the minimum account size i.e abotu $2000 and turned it into a success, prefferabel enough to live off at some point? i have the analysis side down so i thinkits just a case of getting past the mental barrier, as you can imagine a $2000 account doesnt allow much room for error. any tips or suggestions?
  2. not sure what you mean by 'profit factor'?

    I hope you mean risk/reward ratio on trades, because then you'll be on the right track, although you'll want to get it down a little lower

    also not sure what you're asking us here...
    because if you have been doing a simulation you should have a great idea of how you can do with the real thing.

    have others done it? probably... ...but many have failed!

    at one point i successfully traded up a (retail) 'mini' FX account to make a living for a while. (then i withdrew the money and did something totally different where i lost it all, but hey- a learning experience)

    my answer: (assuming the simulation was realistic to market conditions) you will perform very similarly to how you have on the demo. you should be able to calculate your success into the future. and if you are disciplined and stick to your plans, particularly hitting your stops--and focus on your trading very seriously, just as if it was a full-time job--then you will do great

    good luck
  3. I'd like to expand the topic a little bit too, maybe to give some people in a similar situation some ideas --

    My question is:
    Does any one have any ideas for products and particular brokers that one can get into for VERY LITTLE minimum capital...

    for instance, in my first post on this page I alluded to trading spot fx (with GFT) at 400x, starting with only $250

    What other products/brokers exist (if any), similarly? Not just limited to FX, but possibly mini commodities, etc. ...?

  4. You can try to do it at Easy Forex, they have accounts from 50$...
    But don't expect to earn for your living when you have only 50$ to lose...
    It may be better when you use demo account or something like that??

  5. By profit factor i mean, if i had a days trading and net wins summounted to $200 and losses were $100 profit factor would be 200/100 = 2, anything above one is profit anythign less than one is a loss. all the sim trading i do is live real time so its abotu as close to real market conditions as i coudl hope but i dont have a great deal of expendabel income so if i were to put $2000 into an account to play with it woudl be my only chance with it and i think the nerves pressure may play havoc with my trading.
  6. I think you need at least 50000USD to start trading for living. Anything less is not enough...

  7. I dont intend to make a living from it for a while yet so no worries there, more interested in getting the figures right.
  8. Thanks student...

    That is a good point that it is hard to make a living with only a limited room for risk.

    I think random is more talking about a learning curve...

    I really am just looking for suggestions of highly leveraged products for experienced traders. So, the forex account I mentioned earlier gets you $100k in bp. of course, you do have to know how to not blow this up

    thx again

  9. Ive never dealt with forex before, so it might be a bit foreign to me. any pointers of where to get info?
  10. Random:
    my comments on the page refer to intra-day trading and focusing on this full-time

    my view is that, in general ~the larger the time frame, the harder it is to control risk~ in longer time frames trading becomes more subject to time and chance, and becomes a whole different situation that i don't have any authority to comment further upon.

    the way you are factoring your risk seems a little strange to me, but whatever has worked for you, perhaps go with

    find a way that you can like "lose 20, make $200" . your $2000 should be able to go a really long way!
    #10     Aug 24, 2007