Maximum employability and employment earning power usually correlates with general ability, resourcefulness, intelligence, and willingness to work hard and make sacrifices. Those qualities would probably also correlate closely to viability of a career in trading. What this means is if you can't eventually fund your own trading venture, then your chances of success might be similarly limited. A pizza delivery guy who is in between jobs as an automation engineer or data scientist or project manager is on a different ability level from a pizza delivery guy who is a pizza delivery guy because he is not able to be successful at any more profitable endeavor. One could probably make a go at trading. The other, if you gave him $100k interest free with which to trade, would probably be broke in a year and be once more driving with a Domino's sign strapped to the top of his car. So I will give you the benefit of the doubt and postulate that you could have your funding within 5 years of hard work, and it would be all yours, with nobody else to answer to or to pay off. If your earnings are not such that you could not tighten the belt, eat ramen noodles and wear used clothes, and take in a roomie or two, and save $20k+ a year, then few potential angels would be confident in your success anyway. For that matter, if you are confident of making $80/day with what you have, then moving to the right part of the country and living at an appropriate level of luxury (approx. zero, i.e. no air conditioning, no eating out, no expensive hair prods or cologne or other nonneccessary personal items) then you should be able to support yourself for a few months as you develop your strategy and prove it through all market conditions. Then maybe you could do a gofundme or something, with documented success behind you. Or at least have the confidence in yourself to go it yourself.
if you want to trade gbpusd futures you are better off trading the spot market through someone like tickmill.co.uk. Your spread and slippage will be way better ... + you can get more leverage (if you need so ...). If you would provide this as a signal service I wouldn't worry about other traders following you since the forex market really is quite deep to put it mildly ...
There's no need to abandon your current employment. Instead, use your vacations, sick leave, leave of absence to trade full time. If possible, you can change work schedule depending upon how much senority you have at your current employment such as switching from the day shift to the night shift or vice versa. In addition, you can change your days off from work so that you'll have your day's off on trading days...allowing you to trade on those particular days. Do not quit your current employment. Do not borrow funds from a relative or friend to use as trading capital...way too much pressure to trade that way. Other things you can do if possible, get a 2nd job to raise money fast but it will obviously impact your family because you'll be less available. wrbtrader
Why not sign up with one of the copy trading platforms as a trader. If your strategy really works, it should gain some followers and earn commission from the profits.
How much money do you need to make initially ?? how much cash you got ?? how much do you need per month to live ?? Example.... You have 3K Cash saved / coming in. you need 1.2K per month to live vaguely. Put $500 into a Micro Futures. Start trading $1 per pt on YM, increase as account grows. Then you've got 2months to start making 1.2K per month, can you do that ??? So you'll need say 3K in the account, leaving you with 1.8K to make 1.2K+ preferably more then make more than 1.2K, simples. Any income you make, extends your time. YM is having many 100pt moves per day, you don't need many before you can increase the account and easily make 1.2K++++ per month. Stocks you'll need 25K+ don't even bother trying. p.s. welcome to my world, recent full time cash flow to end of next month, although 4K account trading at $10, need 2K area so 200pts per month, easy
Hi - about 8 years ago when I started trading, I did most of my trades within the forex market. Could never trust the brokers and forex being largely unregulated, I switched to futures on tradestation. I haven’t looked back...
Thanks for your illustration- how about making 4000 usd per month with a 30,000 usd account. Living expenses set aside for 6 months in advance initially. ?