Start-up Capital - Loans, etc...

Discussion in 'Trading' started by mdhtrader, May 24, 2008.

  1. Why are you in such a rush to risk using real money? To increase your probability of success as a trader, seek to reduce external pressures, not increase them. Unless you know you can make consistent profits over an extended period of time, using borrowed money will only substantially increase the pressure to perform. Trading is hard enough as is, don't make it harder.

    Sincerely,
    Daryl
     
    #41     May 28, 2008
  2. My personal situation dictates that I strike while the iron is hot. I am not the OP, he may have a different situation. My early attempts at trading, from 1999-2002 were not successful. I had no idea what I was doing. But I've been learning as much I could without having real money on the line for the last 8 years. Now that, for the first time, I can make a living outside of market hours, it's time to go live.

    The pressure to perform will ALWAYS be there. My current situation where I just make enough to cover my bills can't last forever. Either I succeed at trading, get a 9-5 job (which I hate), or start some kind of business. For me, the additional pressure of paying back the borrowed money is not that great since the montly payment is very small.
     
    #42     May 28, 2008

  3. I am under the impression that this is NOT the case with equities. If you have info on any LEGITIMATE arcade/prop firms that allow a deposit of only 5k, please let me know.
     
    #43     Jun 23, 2008
  4. Bright Trading.
     
    #44     Jun 23, 2008
  5. I talked to Don Bright on the phone a couple weeks ago and he told me I needed 15k minimum.


     
    #45     Jun 23, 2008

  6. They must have raised it then from back in 05 when I was looking around.
     
    #46     Jun 23, 2008
  7. Yeah there has been a lot of cracking down lately on that. Don Bright does seem like a very honest guy, he told me he'd give me any info he had on other prop firms that asked for less than 25k, many of them have been shady with payouts and what not. I'm in Chicago so there is no shortage of them here.


     
    #47     Jun 23, 2008
  8. What is the reason you want to trade stocks?? I'm guessing it's because that is the only market you're familiar with. If that is the case, then I would definitely say you need to study up more and learn what every market is all about before you dive in. Forex.com is a fantastic place to start once you do trade real money, you get 100:1 leverage and I think the minimum deposit is next to nothing, like $500. As an example, the euro might move an average of 100 pips (1 cent) in a day, a mini account at forex.com would let you trade 1 min-lot where $1=1 pip. So if you sat on one position for an entire day, you would only be risking around $100 on average (verry ballparkish figure, don't quote me on that). It's a great place to learn and the barriers to entry are nil, you can fund the account with a credit card and start trading the same day.


     
    #48     Jun 23, 2008
  9. I'm somewhat familiar with forex, has a friend thats doing it. I have been looking into it a little here and there, definately need to do more research though...I just like stocks better but I am going start with forex..who knows maybe do both eventually, we'll see what happens..
     
    #49     Jun 23, 2008
  10. all the professional master traders trade futures

     
    #50     Jun 23, 2008