Henry, I appreciate what you think. I agree that some companies are crooked but not all. Scalping can be used for 1 -2 ticks or 10 - 20 ticks or ... it all depends on how you see the market. This Quest is a challenge but I didn't think that so many people would be against it. I learn everyday. This quest looks like it will be a great learning experience. Cheers Garry
You got a lot of idle time on your hands. Time is money and time wasted is not coming back. Here is a clue. What you need to be come a good trader is already out there on You Tube for free. The setups you are looking for is that same setups traded my most other retail traders. What separates the wanna be retail traders from competent retail traders able to take monies out of the stockmarket is risk management. If you do not have risk management, you might as well pack it in. You will lose ALL your monies. It is all a matter of time.
I wish that what you are saying was true, I hope that you chose these courses not for nothing, but to study in detail their format and the quality of data they provide. On the one hand, you can trade within a regulated framework, which means that you will have enough organization and motivation to cope with your goals in stages.On the other hand, given the fact that there are now a huge number of such courses and training webinars, you can't deny the fact that among all this diversity it is difficult to find something that will really work for your capital and will make you a more trained and competent trader who knows how to navigate in any situation on the market and really treat your capital correctly. So be careful, and good luck to you!!!
Garry, I don't get it. You just became a funded trader at TopStep via using your own scalping system on US 30 Year Bonds. That implies your scalping system is profitable. Now you want to go test some proprietary trading system from another company ? What's wrong with you ? Seriously, why not just be happy and trade your own trading system...continuing to make money while funded by TopStep especially when the global economies and markets are going crazy...Corona Virus crazy. Did I miss something and when you say "they"...you talking about TopStep or another firm like TopStep ? wrbtrader
Thank you for your advice smallfil. I agree with some of your statements. Good luck with youtube! Cheers Garry
Hi wrbtrader, I am still trading my own system as a funded trader with Topstep. Life is about learning and exploring, so the Challenge is part of that journey. So on with the journey ... Cheers Garry
How to increase the odds when choosing a trading course There are many trading companies out there that look like they can get you results. But can you believe them? Can you replicate their results? Just remember: No matter how good a course is … YOU must put the work in! Begin With the End in Mind The first thing you need to do before you choose a Trading Course is to understand why you want to become a trader, what you want from trading and what you are willing to do to achieve this goal. Some questions to ask yourself Why do I want to trade? Can trading help me achieve my goal? How much money do I want to make from trading and by when? How much time can I put into trading? Both learning and trading. What time of the day will I be able to put into trading? How much money can I put into trading, that I can afford to lose? These questions are important as they will help you choose what market and method of trading is for you. My Answers to these questions are: I trade to replace my income with a reliable and not limited source of income that gives me the freedom to explore the world. Yes, I have seen personal proof of people achieving financial freedom by using a trading vehicle. The goal of My Trading Quest is to be profitable in 90 days. For this Quest, I will aim for $1,000 per week (Average $200 per day) within 90 days. This is to be achieved by trading only 1 contract per trade. As each trading system can be effective at different times of the day, I will initially track all the trades each day to determine when it is the best time to trade. I want to achieve my goal of $200 per day by only trading about 2 hours per day. For the Quest, I will look at reducing my costs as low as possible. Some costs I cannot reduce such as the Course, Indicators, Data, Platform, and Internet fees Initially, I will trade in Sim until I am profitable. Profitable means that I am averaging $200 per day and have doubled my account. I will then participate in a Trading Combine to become a funded trader with the system. If I pass the Combine then the company will fund my trading account and pay me 80% of all my profit. There are costs of completing a combine (test) to become a funded trader, usually around $100 – $200 per month until you pass the combine. This should be a fair test of the system! If I plan to double my trading account, at an average of $200 per day and if I started with a starting Balance of $4,000 … it would take 20 days (4 weeks) to double my account. Do You believe my goal is realistic? Questions to ask before committing to a Trading Course: How do you choose a Trading Course when you cannot believe the reported results and testimonials? Guru’s who do not trade, change the results, pay people for testimonials and many other devious “marketing” secrets! There are a number of excellent trading companies out there so how can we find them? Some of the best questions to ask before someone commits to a Trading Course are: Is the trading method profitable? Are other traders profitable trading this method? Can I do this? Do I have time to do this? How long will it take me to be profitable? How much is this going to cost me? How much capital will I need? One of the most forgotten questions, that is critical to your success and psychology: What is the Risk to Reward. How much am I risking in each trade compared to how much I can make (Reward). I will discuss this more in later posts. These are all great questions that need to be considered when looking at trading courses. Don't just trust what people say ... ask for proof. If they cannot or won't provide proof then maybe that is telling you something. All this may seem basic but people pay good money with doing sufficient due diligence. Don't just follow the emotion of the marketing haze. Cheers Garry
Actually, all I'm saying is that you're doing a great job, because I've met and talked to people who have been disappointed in trading after a few failures, a lot of people have had enough even once, and I think it shows that these people are not ready to do not only trading, but business in general. And your story can be really inspiring for those who think they're not going to make it, I think you already have some experience, including some failures, which means you're more stressproof and you can make more competent decisions in the market, especially if something goes wrong. It seems to me that you are doing everything right, just believe in yourself, I think that here you will be able to get the necessary support and understanding.