I think Baron should create another thread at this forum...call it "Gamer Discussions" or "Gamer Talk"...seriously. My kids just asked me the other day to buy them gamer chairs. I did a quick internet search on gaming chairs...they look comfortable & ergo designed for traders to use too. wrbtrader
Those gamer chairs look comfy. I bought these chairs well before they started showing up in TV shows and they are pretty comfy and sturdy.
gamer chairs probably make good trader chairs! essentially the same point and click body position. yup been there done that - gamer chairs; - height adjustable table; - fastest fios I can buy; - best computer/keyboard/mouse/mouse pad/headset - plus twice a day I have food duty to feed him anything to gain an advantage....
This gaming stuff (competition) is becoming big business and the prize money in those competitions keeps growing. Epic Games putting 100 million into Fortnite tournaments is just insane. https://www.cnbc.com/2018/05/21/epi...t-esport-with-100-million-in-prize-money.html My cable in France just added a "GINX eSportstv channel". My kids added it to my cable package before I could say no. Next, when we got back to to Canada, Québec...they added it to the cable package here too. Now they want to fly to New York for some sort'uv Fortnite World Cup to watch the competition LIVE in person. Friends of theirs in Chicago has 4 tickets after they decided not to go due to a family emergency and willing to sell the tickets to me. Apparently its sold out. This gaming shit is getting expensive. wrbtrader
Damn...I'm going to have to spend some time on GOOG looking up most of these gamer references! Whoosh, right over. Guess I'm too old.
Competition? One guy doesn't understand difference between Bonds and James Bond, and another guy uses prime broker to trade exotics. Want to see the proof? amateurs have no chance
Trading options? Why not trade stocks? I think day trading stocks is a little less risky, and a little more simple and straight forward. But that's just me and I am just getting started. So take all with a grain of salt and lots of YMMV. I am only going to talk about what I know a little bit about, so sorry if I am going off topic with stocks when you specifically mentioned options. But stocks... would you want to swing trade, or day trade? Daytrading an account funded at less than $25k by an American through an American brokerage presents certain problems and yeah it can be done... I am doing it. But you would be limited to three in/out trades in any 5 trading day period. You can of course use an offshore broker and get around this "Pattern Day Trader" rule but you will likely find that commissions are higher and service, particularly order execution, might be a tiny bit below the standards of care from a U.S. broker. YMMV because some offshore brokers have a not so bad reputation. And so there are three choices for day trading... go offshore, suffer under the PDT rule, or fund your account. Or... trade options or Forex or whatever. Any reputable brokerage will want to know that you have some education or experience related to the type of financial instrument that you want to trade, BTW. But you can still daytrade in simulation, with what is called a paper trading account. This gives you a venue for making all your newbie mistakes without suffering real loss. Swing trading is a lot easier to get over the logistical/regulatory hurdles. Day trading is just that... trading day by day, closing all positions before the close of the market each day. Swing trading is when you buy or sell short a stock and hold it "a while" but at least overnight before closing the position. You can make as many trades as you want, as long as no 5 trading day period has more than three day trades. You can also sort of get around the PDT rule by opening a cash account instead of a margin account, but your funds from a sale are not available to you for usually three days, so you can't use the proceeds to buy into another long (buy now, sell later) position until the funds settle. And you can't sell short and you can't leverage a position with margin buying power. Overall I would say you are best off swing trading with a brokerage that caters more to traders than investors. IB, Lightspeed, and others you will read about on this board. No, don't pay $1000 or $3000 or even $100 for any course, unless it is taught at your local college by a real professor who also actually does real trading profitably. You are better off going to amazon and picking the top three trading books from the list. There are a LOT of youtube vids, too, and most of them will teach you at least a little bit of useful knowledge in between all the sales pitches. Actually, you CAN become a millionaire from a $4k account. It's just gonna take a lot of discipline, hard work, and probably about 15 to 40 years. Maybe less if you are trading an IRA account or some other tax sheltered/deferred account. But you would have to be one of the 20% or so of traders who actually are successful. Better than that? Maybe... it can be done by a good trader but by definition a newbie is not a good trader and is 80% doomed at the gate, to failure. But there is this: Ross Cameron's famous $500 to $1M challenge. In 3-1/2 years Ross Cameron supposedly traded $583 into $1M and you can follow along in his videos as he does it. Remember, this guy wants to sell you stuff, too, so put on your BS filters but I have no doubt that he probably did do what he said he did. Nothing in his vids is impossible, just unlikely for a beginner with no experience, education, or resources. Unlikely on the order of winning the Mega Millions jackpot on Friday and then hitting the jackpot the next day on the Powerball. You really want to trade? Buy a couple of good books on swing trading. Open an account with a zero commission brokerage like Robin Hood. These IMHO suck for day trading but are okay for swing trading. Manage your money. Manage your risk. Set up your strategies and rules and stick with them no matter what. Believe it or not, almost any decent system works if you just FOLLOW IT and not your hunches or you desires for revenge or your need to prove something or a challenge to your manhood. Trade like a machine and you will make SOME money. Probably. But most guys don't. They let a dozen different emotions guide their trading and then for just an instant they wonder what went wrong before they let their balls or their heart or their stupid knee jerk reactions dictate their trading "style" again and cause them to lose some more money. Use the strategies in your books. Better yet, pick just ONE to follow, and when you know it by heart, pick one more, and so on, up to maybe 4 or 5 basic strategies. No more. Start by opening only ONE position at the most, each day, after careful consideration and review of past price and volume history, company fundamentals, and the news. This is a little different from day trading, where often you trade without even knowing the name of the company. Close as many positions in a day as you see fit, but open ONE a day and never have more than 10 positions open at a time. Keep your risk per position down to no more than 2% of your account size and any one day your total risk at no more than 10% of your account size, and if you get handed the schitz one day, you live to trade another day. Remember that, as you read about what actually constitutes risk and how you can control it. Start with a couple of good, recently published books. That will give you enough background knowledge to digest all the youtubes out there and participate in the forums, and pick out a brokerage and open an account. Then paper trade long enough to learn the trading platform, learn how orders work, and learn at least one proven, basic strategy and prove to yourself that you can follow it and not try to put your own spin on it or just freestyle it. If you can't do that, then just buy and hold. In the long run you will make money even if the market goes tits up tomorrow. Trading you make more. If you are good. Or less, if you are not so good. Or lose it all, if you are like the 80%.