Discussion in 'Trading' started by Nutinsider, Oct 20, 2012.
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that's hardly beginners level
I know who you are, but you put on more on a whim than I will ever put on even if I can get my brother and mother to go all in on a welll thought out trade.
Yes, it must be nice to trade on just cash
but you don't need to rub it in the face of us little traders who still need margin
I am a small time trader. I don't rub anything in the face of little traders. When I use to daytrade stock index futures I always kept my account under $10,000 drawing out the profits on a regular basis to build up my equity and bond fund trading accounts (all cash) All in all, since I turned the corner in my trading back in 85, a mere 3.5% of my total profits came from futures/margin. I just happen to believe margin/leverage is a killer for home-based traders trading their own account. But for a while I had no choice with only a $2300 account in 85. Luckily for me, I traded a then profitable breakout pattern that worked long enough for me to move on beyond futures. Had I failed there, I would be looking at a bleak retirement. I am sorry you disagree but we all have to trade whichever works best for us. Good luck in your trading.
yeah well, when I finally build my account up to $2300 I'm going to rub it in the face of all the little small time margin traders on ET.
Good luck in my trading? at 40 to one I'm going to need it.
margin/leverage can be a real killer for a home based trader
but then again, so can starvation and the guy who comes by once a month and turns off the electricity
My hat's off to you and anyone else completely reliant upon trading profits for making a living.
All of the character traits needed to make this a success are very rare in any one person.
after I blew up my first account, it took me 9 years working in the real world just to build up a 30k trading account and two years living expenses
I had three kids and a stay at home wife on my first account, and that lasted 13 years
then I made the classic mistake of closing out all my winners to fund my one big loser and went completely broke
second account ended with just an all in lucky trade, and I'm still living off that money, but that's why I won't trade ES anymore.
third account is a little more reasonable, just a hobby for fun and profit, I don't need it to live on, but that is now exactly what I am doing, but I am very small time, my rent is only $500 a month and kids are all pretty well off on their own, and no wife.
at $500 a month rent, and living carefully, I really think I could make a living starting with 25k, maybe 50k just to be sure.
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