Thinking About Full Time - A Few Basic Questions

Discussion in 'Professional Trading' started by Lapdance Jockey, Dec 9, 2005.

  1. Hello All,

    I noticed that the majority around here seem to trade Options/Futures/ etc etc. rather than straight Stocks -

    I've come to the conclusion that my niche is in the swing trading arena - with just plain old stocks. I generally trade in 1000 - 2000 share increments and have stops in 10 cents. I've made a few scalping plays but i try and limit those to a few utility companies that i follow that have good volume but tend to not fly around -

    My questions are: (and i realize many of these have been asked to death, so many thanks ahead of time)

    How much capital is realistic to start with- lowest amount/highest amount?

    What seems to make options etc. more attractive than just stocks?

    Any suggestions on books with some information that is useful and applicable would be appreciated.


  2. So who would be your funding/capital source ---- Jade, Candy, or Mercedes??? :D :D :D
  3. lol

    still looking for one of those ;-) but in the mean time

    i have 3 words for you


    - i've been living in this house for 2 years and its appreciated 100k+ ... so i wasnt lookin to get to crazy

  4. also

    im 25 - now is the time to take a shot - it'd be harder if i was married with a family on the line

    i've also seen this comment around the threads too "needing a mentor" or something along those lines.

    again - like many - im just putting myself out there...

  5. if you could line up what i suggested then you would have the gig of the CENTURY!!! LOL! :D

    if i was you i would not trade one red cent until you have a method and a track record of realtime trades with some sort of trade simulator --- at least 90 days of excellent profitability before committing any real dollars.

    trading is a tough game in the beginning, and you have a TON of hurdles to jump before you will find a true profitable method that can be put into action --- there should be no rush into trading, so take your time and do things slow and methodical.

    i am a futures trader so maybe some of the stock players could chime in here to help you out --- good luck!
  6. 10% a month is a very realistic number once you become a consistent trader and that will take 3 years min.

    So you do the math based on your needs.

    The smartest thing you can do and I REALLY hope you listen to me: Is to paper trade until you can consistently make 10% per month for a 6 month period.

    I would have referred you to an excellent mentor a few months ago but I don't do that anymore because whenever I try and help anyone in ET I get burned for it.

    I will tell you this though ET is good for harware, software and book reviews.

    Don't take anything else in here seriously.

    Good luck to you !
  7. alrighty -

    so where do you go for the online paper trading love?
  8. Your live trading platform SHOULD have one built in or if your just swing trading build a portfolio @ yahooo finance it's a pretty good free service.
  9. They aren't. And the reason there are a lot of futures traders on this board is because the capital requirements are so low. They come and go quickly.
  10. yes futures have the leverage and the tax benefits {60/40 rule} that make them so attractive. the amount of money to put on a 1000 lot order in the ES {only $500,000} and the potential risk or reward is so much different then what you can do with $500,000 in stock trading.
    #10     Dec 10, 2005