Ok. Did you start from scratch designing your own trading strategy all three times? What has helped you this time to stay above the water? How long has it taken you to build up 5k into something liveable?
No the first time was a telephone and a broker with money from my swimming pool cleaning business that I had in my hometown.... The second time...was my mothers money and an option signal service when I was in my late 20's. The third time, was my money (and Wifeys) and a system that I wrote. Currencies seem to click with me. Correlations and the interaction with each other around the globe fascinate me. But I am writing this while I am trading the heck out of an edge, that I recently discovered. (I am frantically searching for a second edge to cover this one when it stops working to protect me emotionally. I like to have an ace in the hole at all times) My best times are when I am developing a system...the boring job of execution is not what i like. I also believe automation will put me out of a job, so i do not have anything to contribute there. Michael B.
Worked regular job using my college degree (EE) for couple of years, and lived about 2-3 standards below my means. Being single, no kids, and staying healthy is a major advantage while you're saving up.
Am starting next week to daytrade with 2k, just to test the waters. I have more than enough to found a good size account. But am looking for my trading personality and strategy. Never did like paper trades, its not the same..I will go with real money for the psychological reasons.
I robbed a liquor store at gun point and sold crack rocks. I reccomend you begin doing this before you turn 18. I actually just saved my money from odd jobs in college and lived like a cheap bastard.
Followed the "pay yourself 10% first" plan espoused in George Clason's "The Richest Man in Babylon." It got me out of debt AND funded my trading accounts. Every so often, after I've saved up a few grand or so, I'll drop it on bills or add to the trading account. Basically, I'm treating trading like it's a lower-priority, interest-bearing account.
I actually robbed banks for over 3 years to earn my trading stake. Luckily for me, I had a good disguise and a well thought out plan. It helped get me prepared for the rigors of trading...