Chikot posted: I simply got few companies who are testing traders willing to trade OPM with futures. The process of selection is tough but funding and later pay is far better than anything proposed here. It is only for day traders. Futures are actually a better intra day trading instrument than FX. FX may be more jerky but we have no information about volume which is very important piece of information. Been practicing futures and things are going well. FX is longer term trend following project for me.
Do those companies have any requirement for if you're trading part-time or full-time? Or are they interested only with positive figures? Also, do they allow you to trade the account(s) from your home? Or do you need to physically be in their offices? (I always wondered about these! 😄)
Got big respect for people who can trade the market only been learning forex for 1.5 years, made a lot of rookie mistakes, lost some cash, manual trading isn't for me, so i quickly started learning the programming language. Hope to make it in forex trading with own systems and get a monthly income eventually. lets jope for a happy ending :) I like this topic because it is indeed a step to consider, when does someone make trading their (parttime) job.
From the first day I got to know what is ForeX I planned to live from it. What I like in it is: - 'Flexible' work hours - I work when I want... - I'm not 'tied' to one place- I can do it at home , cafe or during holidays in Spain ;) - No boss over me - As I only scalp- it takes few hours to make those 10-15 pips daily and the rest of the day I can spend doing what I like ;)
It took me one year to find suitable to my nature ( and profitable) trading system. In my opinion main problem traders have is lack of patience... If you hope to earn more then 2-3% daily you can forget about earning at all...
rob559 posted: been learning for the past 7 years,trading for living since 9 months,though a rough road ,learning everyday,good luck to all of you doing the same thing 😄
You must be a very patient man if you were able to learn for 7 years - that's like getting a phd! Doctor rob559 😀
How has it been going for you? Why do you say a 'though road'? Have you experienced large losses/setbacks?
On the same topic, how much starting capital do you think is required to have in your trading account for full-time trading?
experience is the sum of your mistakes ,applies to me very well 😀,been on and off the market lost thousands (rough road),went off completly for 1 year,back since 2009 ,only time can get you to assimilate from from your mistakes. i think the most important thing is to be able to get a real feeling of the market,being able to trade fundamentals along with thech analysis,being able to follow the world news everyday. nowadays traders are waiting for news to happen if not market go silent. a minimum of 40,000 is needed to make a decent living . what about you are you doing part time or full time?
I've calculated my minimum capital requirements for me that i would be able to get a decent living from trading. unfortunatly i've just graduated, am looking for a job and am short on cash. But here's the math: In my country I would be able to live from 3000 USD/month, which is more than I would earn working. So for 20 trading days present in a month I would need to gain 150 USD/day I currently have 3 mini real accounts with my current broker I can use to get to this 150 USD/day so this will result in 50 USD/account Now: my current stratigy allows me to gain a 5 USD -10 USD/day for each ea active on a chart to run the EA safely multiple times(5times) I would need 4000 USD/account So the minimal capital: 12 000 USD in the case an average of (10 USD/day)/EA run is gotten 24 000 USD in the case an average of (5 USD/day)/EA run is gotten now to apply this in real life: Lets say I save 1000 USD/month when I have a job, living with mom and dad, my future would be I needed to work less then 2 years to be indipendant, knowing I'm running 3 accounts each with 1 time the EA the odds will be I reach this target within 1 year.
So I envy those people who already have 30 000 USD starting cash and in my opinion should be set for life :) but then again if everyone could reach these targets the economy would collapse :D
To top this all off and make nonsense of what I wrote above, I'm only trading this stratigy live for 3 weeks with the small cash I have, so this isnt bulletproof nor has the stratigy been proven to never crash. Even though I hadn't had a day to have losses with this stratigy, I can not garantee succes :) no one can, we can just make an educated guess. So fingers crossed :D