I am interested in becoming a trader. currently I am tied to the DC area geographically. I have about 5k I can put into a retail or prop account but am really interested in mentoring and training. Can anyone help me by suggesting some offices in the DC or Baltimore metro area who would be interested in talking to me?
why don't you exchange your $5k into 20,000 quarters and go to a video arcade or slot machine parlor? You'll probably have more fun.
Why the sarcasm? I have followed the market, but untill this year have not had any significant ammount of money to invest or trade with. wiht 5:1 or 10:1 leverage the $5k can, in theory, be used to make reasonable trading profits. Any sugestions for a prop firm in DC that would let me trade on high margin with the 5k and would also provide some form of training or mentoring in exchange for a higher percentage of the profits?
it's not sarcasm. its my way of saying to quit screwing around with $5k and a stupid 'dream' and get a real job. Not a 'gambling' job, a *real* job. Save some serious money and then consider investing it. What, you actually think that institutions with $billions will let some idiot with $5k and a "trading" platform take their money? If it were that simple/easy, you'd soon have millions of Chinese taking wall street's money!
risktaker is being a jackass...but he has a good point. if $5k is all you have..dont take it to the market. you will get burned, and it isnt fun losing it. most people lose money at this game. let me ask you this 1. how old are you 2. what is your backgroud 3. what is your profession? 4. what attracts you to the market? 5. why a prop firm? 6. why not get a real job at a real firm and learn how things work first? good luck, Dan
How is looking to make a reasonable daily return on a leveraged $5,000 a dream? I do have a *real* job but this job relies heavily on the real estate market and will likely see a serious downturn when the DC area market takes a hard hit some time in the next 6-12 months. I am looking for another opportunity to make decent money which rewards me for my hard work.
I am 25 I do not have a college degree. Some personal and financial difficulties hit me kinda hard during my 5th semester at college and I had to leave school without a real opportunity to go back. I have worked in IT, and sales. Currently a mortgage broker. Part of my job is to see short term trends in interest rates and I have done a fairly good job of predicting the movement of the 10 year bond which directly effects mortgage rates. I am attrackted to the market because I have followed the market periodicaly. I am attracted to the idea of trading because it will allow me to continue to set my own schedule and offers the ability to make serious money, while not having to worry about the current state of competition from others offering the same product, or the success of the product I am attempting to sell in the general market. I have worked my ass off at sales jobs for a cold product and made little money due to the lack of demand for the product (pitney bowes office equipment, lincoln-mercury, B2B sales of nextel cell phones after the initial boom) I am interested in a prop firm because I have about 12k in cash. I do not want to risk more than 50% of my money but do not have the minimums necessary for a retail account and need high margin to be able to make reasonable ammounts of money off of small margins of 1/4% to 1/2%. I would love to get a real job at a real firm but highly doubt that they would hire me due to a lack of a Batchealor's degree. I would really appreciate any help in finding a way into the market. I am not looking to blindly trade but to learn and use sound technical analysis methodology to scalp small profits from liquid large cap names. My theory is that if I am able to make reasonable money and contine to invest in the pool of money I use to buy the leverage I can eventually trade with a larger ammount of capital and take ever smaller risks. I am not looking to make a six figure income but just enough to pay the bills and save some money in order to be able to make that six figure income in 3-5 years. Again any help is greatly appreciated. I am a fairly quick learner and am not affraid of having to take the series 7.
unfortunately, hard work does not make you money in this buisness. I do it part time as a result...i am an institutional bond broker full time..and i have mutiple licenses and have been in the market since i graduated college...so i understand how some of this works. With $5k leveraged 5 to 1...expect to lose it in the first 2 months...honestly. this game is about 1. leearning how it works 2. trying 3. losing 4. trying 5. losing. 6. starting to wise up 7. losing 8. finally understanding what makes the clock tick. 9. realizing you are at a severe disadvantage. 10. formulating a plan as a result after you are broke 11. saving up your money again 12. trying a few ideas. 13. losing 14. refining your ideas 15. losing a little less 16. refining a bit more 17. making a little 18. 10 years later after you learn discipline and money management, if you head hasnt exploded, MAYBE you can make a living at it. you are right real estate will suck veru shortly. dont make your life worse. try to find a job in the markets where you can learn and save some cash. do homeowrk at night and place VERY SMALL trades in a personal account. read as many books as you can get your hands on. then maybe you will have a chance. we all think we are something special...we arent. dont blow your money. if it is not pure risk capital. If it would hurt badly to lose your 5 k...dont lose it. I think you should have 50k in cash before you risk that 5k personally. good luck...seriously. it is a long painful journey.
I understand your advise and please don't think that I am trying to argue but here is my question: What makes it so difficult to do what I am talking about doing? Large cap liquid names move +/- 1% to 2% every day. The momentum is not that hard to see. Why do you say that the probability of moving that 5k leveraged 5:1 (meaning 25k) succesfully make money on this movement? Also how do so many people make good money in the market? What seperates them from the rest of us?
Martha Stewart makes a lot of money in the stock market too. ... but she also spends a lot of time in jail.