Dear ET member and reader I am 27 years old have been in business in and out and has lost a lot of money in business i want to start a career in day trading i have 2 options either to look for a prop firm who will let me trade with their money and get a cut and a salary.( aseent echotrade have no idea about them yet ) The second option i think start day trading with genesis( as i think they are the best in NYC ) at their location with $9000 which will give me $90000 margin so even if i make $200 a day X 5 days = $1000 a week which i think is not bad and not that tuff Please give me your feedback if i am either day dreaming or i am being piratical thank you
Thats not tuff at all. Almost 92% of everyone around here at least does that. If you have other friends who want to try day trading, then bring them along as well. With 50 friends * $1000 a week, we are actually talking about a lot of dough.
Hell yeah, you're day dreaming! Anybody who thinks that's a plan, is just, well, being stupid. Sounds like you're desperate. Stock market is no place for desperate people. It's almost the same odds as Vegas, nowadays.
http://elitetrader.com/vb/showthread.php?s=&threadid=45864 http://elitetrader.com/vb/showthread.php?s=&threadid=52989
Sounds like your motive is exactly the type that will guarantee you a loss of your money. Don't walk in with expectations for $$. You will be badly disappointed. You should come into trading because you think it is the type of challenge that will intrigue you and that you can overcome. The $$ are a side-effect of good, disciplined trading. If you walk into anything with just $$ in mind, you will find that your patience will not be there and your anxiety is through the roof. This further stacks the odds against you. Read up about trading (visit some existing threads/ journals) and then decide whether this is worth losing your $5000 over.
you ever heard the old saying, "you don't get something for nothing."? well, that's how it is in trading. think it over.
Hmmmmm..... you sound just like me when i got started.... i say the heck with it.... go for it!! After the first few weeks you will get hit with a giant bucket of ice water that should wake you from your wet dream, then and only then will you be able to pursue this in an intelligent manner, and with patience and basic math skills you will make it in a few years time.