Hello Pros! I'm glad to finally be in the ranks of the guru! Long story short: I'm individual trader with about 5 (3 full) years of experience working on financial markets. I as the many other was starting with FX, where probably most of us has spent many un-sleeped hours in front of the charts, and I believe best of us has spend more than they had, so I will not talk about it. Today I'm at a crossroads, I achieved the desired result, I started to see the market, the strength of support and resistance, I see constantly repeating patterns, I'm touching the subversive alpha. But, there is a problem, by the time I realized what is happening on the financial markets, I was absolutely without money, as I spent all my time studying this subject (so no work, no income) Presumably from the current situation, I see three ways out. 1. I can take money in debt (at a bank or at acquaintances, etc.) and continue to do my job. 2. I pass the test of a trading company and try to survive on those money. 3. Provide previous work experience for 1 year so get be invested. In the first case, it could have been burnt out, with a capital of say 10k, I could have ensured a stable income, but neither the bank nor my friends could afford such amount. In the second case, let's prescribe this "TopStep", upon completion of the maximum package, I get 3 lots, so 30% of the risk is obtained when working with one lot. Difficult - but feasible. The third case, did not take care of this a year ago, never tried to create statistics -- I could not trade. --- By now, I literally have no time (no money) to live. I do not expect that one of you will want to help me financially (of which I would certainly not have refused), but if you help me with advice, I would be very grateful. I hope you will not advise me to get a job, I got this point myself, maybe there are other ways to get invested? Thank you all for the time that was given to my message. Sincerelly GFX
How strong is your edge/alpha? If you have very good Risk reward , you don't need much to start compounding in FX due to its leveraged nature. Just borrow money from family n friends. However if your alpha is weak, you are better off looking for a trading job although those are really hard to find.
If you're absolutely determined not to "work a job" (I don't quite understand why), I'd look at and think about the "$50k Combine" at TopStep. Given the overall circumstances you describe, I really can't see any additional benefit from taking the "$150k Combine" you refer to. If you pass the "$50k" one, you can start trading 2 lots, and increase to 3 after you've made $1,500 anyway. It's really very hard to imagine that it would be worth your paying $375 rather than $165 to try and do it. I'd further suggest not paying for the Combine at all until you've proved to yourself (on a demo account of your own) that you can actually pass it, without falling foul of any of their risk-management parameters. I'm no critic of TopStep at all (I believe they're a genuine and honest company and I actually know a couple of people who have started off successful trading careers that way), but Combine pass-rates aren't all that high. You need plenty of education, practice and experience (and - in short - "to know what you're doing") to get started successfully, that way. I think the position you describe ["I literally have no time (no money) to live"] is likely to be far more conducive to failure than success, with trading ... and my instincts are that you probably be shouldn't be trying to trade at all, at the moment, until you're starting from a more solvent position. Good luck, whichever way you go.
Hey, Thanks for your replies, I appreciate it much. Attaching my last trades of topstep (also can provide FX or cryptos as well), i literally can now pass TST any of packages in few days, anyway in a week if not in hurry. But 2 lots... Yeah, can pass your demos as well... Maybe any other thoughts? Thank you
Hello GFX, If you don't have capital to trade, you can get a loan or go to TopStep trader like me and paper trade til you pass the combine and get funded. But like Xela stated, do the TopStep with paper money first and get to combine and make about $10K in paper and see if you can make it before acutally paying for the combine. This is what I am doing and I am not risking my own capital/savings or borrowing any money. But for sure, don't quit your job yet cause you need money for living and having fun. It is hard working full time and trading I know, but nothing much I can do til I make the big money
GFX, Very impressive results and good job. I only trade CL as well. I like how it moves. I started with the $30K combine and I trade 1 contract. I go to 2 contracts once i am funded and $3000 in my account.
You say 2 lots as if it isn't enough, and you want to be able to start with 3 lots, but the reality is that the 2 lots increases to 3 lots once you've made $1,500. And if you know you can pass any Combine within a week, it will clearly only take you a couple of days, to make your first $1,500. I don't understand why that's so important to you that you'll pay $375 rather than $165, just to save a couple of days - that doesn't seem logical, to me, for someone as short of money as you describe. Sorry, but it seems that I've managed to misunderstand you, somewhere along the line.
Xela, I'm sorry, there is some misunderstanding, can be the lack of the language. Well, all this about time & risks. Let's see, for example I'll pass 30K or any other TST package, with new of their rules, trader needs only two weeks (with weekends) to get funded. I can pass it very quickly, if Money Management used right way, playing with 1-5 lots per entry. Once done with it, and finally funded they give only 2 or 3 lots. 1 lot of 2 lots is HALF of buying power. If I get early or late entry, I do get loss position. So it seems I can't use my 10-15 lots (as it's provided in practice account) to rebalance and move losing position to 0. Day trade. With 1 or 2 lots and high success rate, need about month to get 1 more lot, and weeks to get another one, so it can be 2-3 month to get 10-15 lots... 100 days of work to have finally normal working environment. So in total, it's easy to pass combines because within demo they give you buying power, in real they give losing power. No chance to rebalance loses in quick. Once again, todays I can work with any market (fully by TA) commodities, fx or cryptos, BUT only in once case, if there is a chances to move comfortable, i'm ready to and risk up to 5-10% per trade and get the similar results you see in previous attachment. (Can pass your demos as well) SimpleMeLike Yeah, people I know has nothing, people i don't know have no trust even with this results. And I don't have a job, spending all time with trading, days and nights, this is my everything. Thanks again for you reply and time you spend to my exodus. Sincerely GFX