I should have said "if you can pick the right trading system and use your own stop loss, and not over leverage".
Funny, here's a "real estate" guy thinking the grass is greener in trading and then there's a trading guy thinking the grass is greener in real estate. Hmmm. http://www.elitetrader.com/vb/showthread.php?threadid=61057
A TON OF EXPERIENCE. You will find that most successful market players are capitalists and won't be willing to give away their knowledge for cheap. Just my two cents.
Whether it's zero sum is irrelevent. The point is... If you add up your profitable trades and minus off your losing trades and commission (over a number of years) do you have a positive number and is the positive number enough to pay your bills, enjoy yourself and save for a hurricane or a Tsunami.
Hello neighbor . I live close to DC, Centreville to be exact. I dont mean to sound harsh but Pitney Bowes, Lincoln Mercury, and Nextel were all cold products? I know what loan officers are making in this area and your inability to raise more than 5k suggests that perhaps that is not going so well for you either. Again, not to seem rude, but what if your ability as a salesman has been partial cause to your run of bad luck with "cold products"? This goes back to what one of the other posters said about losing and losing and losing before you ever learn to win. When the pain of losing money exceeds the pain of admitting your own shortcomings, you reach a state of mind known as objectivity . And this is only the beginning of the learning curve. If you really want to be a trader, I encourage you to pursue it. Just be sure you can afford to lose the money you start with. Good luck, -qwik
why not put $4000 of your cash into a ROTH IRA and the remainder of the $1000 as next year contribution? Do you realize most of the jokers on ET won't have a pot to piss in when they grow old? You can trade your IRA while you are working at the point it is over $20k you can do some diversification. ..Trade some as options, some as options on futures or index funds, whatever. You have lots of options in a roth IRA. Just my 2 cents...you'll do whatever your instinct tells you anyway.... but here are some benefits 1) TAX FREE growth 2) 57 1/2 you can take money out - again TAX FREE 3) you can use the money to buy a house as well 4) considering that you might blow the money at least this way you won't get overleveraged and you know that the reason you blew it was purely poor trading...
This is "elitetrader.com" not "suzeorman.com The kid wants to take a risk and get rich, not do some boring safety type investing where MAYBE in 40 years he might make a few 100k to retire on. Let him trade his account...if he blows up, so what?, He can take that as a 5K lesson....if he has the determination, he will raise more money, get a better trading strategy and maybe make some money then. I know there are alot of us that think you cant make money with a 5k account. Maybe he can, maybe he cant...are the odds against you when you are undercapitalized?....yes...doesnt mean its impossible. Dont let "the man" keep you down, kid.
So you do not think that will be "mistaking" enough - trading options, stocks maybe futures ? Get some help from a shrink...
So you do not think that will be "risktaking" enough - trading options, stocks maybe futures ? Get some help from a shrink...