Agreed, put up the money... If you can't its showing a lack of conviction in your ability to make it in this field. 50% of net is a lot of money once you get the hang of trading. Also remember its not like its free money. Any, and I repeat Any hole you dig, you are going to have to dig out of,and at 50% payout. So in essence you have to be twice as good as the guy keeping 100% to compensate for your draw down. Mean while you are still paying commission and a payout. """"Fear is a big part of trading. The market feeds on your fear.. or better stated, you feed the market based on your fear. So does the brokerage industry feed on this fear. So many want to give up everything for an iillusion of security, and not put their money with their supposed passion or calling."""" Don't let the fear of loss, ruin your chance of success. You have to get in the right mindset from the start. Thinking your only going to make it in a risk free misnomer environment is deluding yourself. I didn't break out till I got away from that, and rethought everything. Then I didn't settle and shopped around and demoed till I found the best broker/trader balanced relationship. Also if you do decide to go on your own, dont go for the cheapest broker, unless you like churning and unexpected losses. A lot of them are cheap for a reason. Some of the more medium to expensive brokers have exceptional service, we are talking 24/7 trade desks you can call, soft dollared solutions, institutional edges ect. Alot of people have no idea what they are missing in the medium to full service prop accounts. Some traders are just thankful if the discount guys pick up the phone, after setting up the account. All and all its a balance.. And an individual balancing act at that. Starting off with the wieghts against you though is not a good trade in my opinion... Tops an R/R of 1/1 not anything that warrents steping on the gas. Well, thats my rant.. Do what you will.. Good luck to you.
Good rant, especially the part about "conviction" - trading is like any other business, you need some capital, a lot of conviction, and of course all the rest (training, discipline, money mgmt., etc.). Good! Dono
No worries, Just weighing my available options. Thanks for the reply. I have a few of your posts copied as good advice to refer back to. I currently use Izone / Ameritrade and can live without added leverage. I only trade part time but am considering full time. Thanks again