Well can ia sk y ET trader that is making $200 reallly difficult day trading with a $90000 margin that also scalping stock like Dell intc csco qqqq it not like i am trying to touch the sky thinking of making $500 How hard is $200 a day and especially when you try to buy low and sell hight i know that no body can decided when it is a low and when it is a high pll who have been scalpoin please tell me the pros and cons please since i love trading and it is not for money it is somehting i would love to do life time but since i never knew about these prop firms and i did not have $25000 sec requirment i had no hope to day trade. but now i know there are a lot of prop firm and i have 1 mont to decide please give me your experience and advice thank you guys
$200 a day SOUNDS easy...on paper. But once you put it into practice, with slipage working against you, mkt fake outs working against you, lack of knowledge working against you...and worst off all, your mind working against you....$200 a day on consistent basis is nearly impossible. Starting off day trading with out the tools and experience and you will end up like the 95% who fail. At least try swing trading first.....if you cant make any $$ swing trading....then odds are you will not make any $$ day trading. If you don't have 25K, just swing trade on the long side. Use technical analysis to time your longs with the markets. If you cant swim in 3 feet of water why go to the deep end of the pool? Read my "New Traders read this" thread in the psychology section it has my experience of how i started.
Heh. Its a tough crowd for a tough business. Its probably easier to get $90,000 than it ought to be. The big question is, what makes you think you can trade with a positive expectacy ? Have you done any work to see if you can indeed turn a profit over the long run ? What will cause you to enter a trade ? If you enter, will you have one entry or build up your position ? What will you trade ? When will you cut losses and take profits ? If you've answered these questions, have you attempted to do some testing to see if you can make money in the long run. There are lots of things to consider if you truly want to do this for a career. Try to work out as many of the unknowns before you dive in. $90,000 is a lot to lose ! Best of luck, -Tony
Ksonsinc: Let me just add that $200 in a day is not that tuff if you got into a lucky trade. The challenge lies with your statement â$200 a day X 5 days = $1000 a weekâ which implies strict consistency; day in and day out, every trading session. Achieving that requires the suite of physical and mental infrastructure that you hear others allude to on this board. Kermit
Very true. I am interested in trading now. When I started I was equally interested in the money and the trading and I had a partner that was only interested in the money, he drove me nuts. He fueled everything in me that worked against the venture, I had anxiety like you would not believe. I had to give it up for awhile and just study. Basically as my interest in the money declined and my interest in the trading came up I made the big learning gains that were impossible to do while I was worrying about the dough. I did not even need the money to live on, if I needed the money to live on, the anxiety would have been worse even. Some can do it however, read the story of Linda Raschke, she simply got some dough together and got in the pit and watched the other traders and learned to trade.