Assume you were given an online trading account funded with $10K, and laptop computer with internet access. Now assume you were facing a 10 year prison sentence, and could keep whatever money you earned from trading to live on when you got out. If you lost all the money, you would have nothing and in all likelihood go back to a life of crime. What do you expect would happen given such a situation?
You would give fellow prisoners the chance to gamble on financial markets... In exchange for packs or cartons of cigarettes... Which you would then exchange for sexual favors and/or drugs.
I know for me, I would trade forex. 10k is more than enough to get started trading forex. A little tight if you want to trade ES or wheat. My apartment is only $500/mo and I really think if I had to I could make a living trading nothing but forex starting with just 25k (maybe 50k just to be safe.) Number one reason for failure is under capitalization. Over there in ES you are moving 67k or more at a time. That's too much for a 10k account.
when I started out, respectable traders said you needed 25K to trade wheat corn and beans on the CBOT, and about 32K to trade meat on the merc. But we were very poor back then, and they would let you trade on the MidAm at just a thousand bushels at a time.
laugh if you want. I think there's some money to be made getting long crude, but even at my old age, I don't have what it takes to even hold a mini overnight. It's good when it's going up But it's hell when it's going down Like the man said, "No wise king goes to war unless he has first counted the cost."
I like talking about forex, because it's something anyone can do as long as you don't make big stupid mistakes. But you can make a lot of small stupid mistakes (and believe me, I've made all of them) and still survive. Prison? I guess I'm sort of in it, but the food is better. My prison is the actuarial tables, what's yours?
back when I lived a more nefarious life I actually had to spend a few days in the pokey. The thing I remember most was the food. The same company that made the food for grown men in jail also made the food for new kindergartners on their first day of school. The one that cracked me up was the guy in my cell who smiled and said, "Wow, this is great! Just like my first day in Kindergarten." That was before they invented Tater Tots
You actually ate that crap? Longest I was in jail at any one time was 6 days and I dont think I ate one full meal. I traded my food for cigarettes and cool aid. And no way was I going to eat those green eggs at breakfast. I was usually higher than a kite when they brought me in so the first day or two I wasn't hungry anyway. Dont ever want to be behind those bars again! I had enough of that in my early years.
Interesting. Been there too. My sister-in-law, an attorney, actually put me there. Now, I'm on the road back there due to a crummy attorney who ripped me off, and I'm threatening him with harm. LE is now on my tail. What a load of B.S. Guess I've got to outsmart both of them...and that is what I intend to do.