Under Capped headaches

Discussion in 'Professional Trading' started by naz9403, Jul 13, 2005.

  1. naz9403


    I've posted on here for awhile. Learning all the time from posts. I need to develop a track record before even considering a career in the business. With the % gains your nothing which is a handicap for the young under capped student, like myself.

    What i need some feedback on is what route should i take.

    Marketocracy-paper trading account

    Upside: Not restricted due to low capital
    Downside: Emotional factor of not trading real $$

    Trading with $1,000
    Upside: Making decisions based on trading real $$
    Downside: greatly restricted, good trades produce gains so small they will marginally cover comm's.

    Now for all the pro's out there who deal with managing money what is the best route.

    I have a good feeling it would be the paper trading route but any feedback generated is greatly appreciated.
  2. naz9403


    Couple pm's saying marketocracy is a good way to go.
  3. Trade the real money-----------short 2 es tomorrow at the open with 500 per contract margin---------let it ride!
  4. Shows you why you should never take someone else's advice.
  5. monaco2



    paper trading is the first step imo u must take if considering to make it through the learning curve - without majorly hurting yourself financially, and even then - real time trading from paper is a completely difrnt animal... but at least you will be taking it step by step and will develop your system and discipline methods as u go. I am not trying to discourage you but rather point you towards the only direction that will yield results if you have the intuition and the intelligence in playing the markets. so if u asked for mho starting w/$ would not be beneficial to you in any way whatsoever except red blotters eod, so it would be a tactical mstk and also a costly one as well.
  6. blah, blah , blah, paper trading doesnt mean a thing. its like play play money poker on partypoker, try it with money and the results will be incredibly different.
  7. I agree that paper trading is nothing like trading real money, slippage and the emotions are not there in paper trading. However it may be a good way to begin learning about discipline. Your self discipline will got out the window when you have real money on the line and the emotions that come with it, but you may save yourself some of the money that all newbies lose when the start by losing paper money instead.
  8. take it from a newbie as well- paper trading is worthless. ive lost a few $$$'s but learned so much from mistakes you only make with real money. definently patience is something you will learn the hard way- that and not chruning your own account :)
  9. naz9403


    The thing is that i'm not a newbie. I've been trading awhile actually, 6 years. However that was mostly equities of 5-10 shares since a 14 year old does not have much money. Now i'm soon to be 21 with no real decent size expendable capital due to college $$.
    I've read pretty much every trading book worth a salt. I know tech analysis, i've written my own strategy which backtests well. Backtesting i know leaves the glass half full you need actual live profits to be worth anything in this business. Presenting my strategy in ts2000i along with a 2 year profitable documented virtual trading account. i.e. trades only taken on signal production should get my foot in the door for a job that is good enough for me to earn enough money to trade on my own.

    Trading without expendable capital of at least 50k limits the possibilities.

    I've read everything on jesse livermore and i believe the information he presented is brilliant, besides his personal and sometime money management issues.

    Bottom line is
    i believe i have the skills and knowledge just lack the capital due to my age and position in life. A broke college student.
  10. Relax! Enjoy college! When you graduate get a job, save up money, then trade. No rush, you have your whole life.
    #10     Jul 15, 2005