Comments on: Can You Make It As a Trader? http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/ Futures Trading, Custom Programming, and Commentary Fri, 05 Mar 2010 06:12:03 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: joe hussien amit http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-9000 joe hussien amit Sat, 29 Nov 2008 05:30:56 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-9000 Hey guys great article!I day trade also full time and have had my ups and downs ,but as another sideline I have taken the time to study horse racing aswell.Im not saying its for everyone but having a betting account set up alongside your day trading account has helped me out many times.If your chasing your tail at the end of the day on the market there is nothing more satisfying than pulling a trifecta on the horses to top your account up to flush. Hey guys great article!I day trade also full time and have had my ups and downs ,but as another sideline I have taken the time to study horse racing aswell.Im not saying its for everyone but having a betting account set up alongside your day trading account has helped me out many times.If your chasing your tail at the end of the day on the market there is nothing more satisfying than pulling a trifecta on the horses to top your account up to flush.

]]> By: John http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7018 John Tue, 13 May 2008 22:01:37 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7018 btw, if there is a broker (and i'm not doubting u) that will let u trade 10 es contracts on a 5 grand account, that would be suicide...i'm not sure anyone could withstand that kind of volatility btw, if there is a broker (and i’m not doubting u) that will let u trade 10 es contracts on a 5 grand account, that would be suicide…i’m not sure anyone could withstand that kind of volatility

]]> By: John http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7017 John Tue, 13 May 2008 21:59:42 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7017 ml: i'm just saying that if u can "really" pull a point per day on 2 contracts, the ES provides more than enough liquidity to handle 10, 20, or even more i'm not suggesting that anyone trade contracts that are too big for their account...that will also make it very hard to even get that 1 point so once u can consistently get that one point, why limit yourself to pay off credit card debt, or take a small vacation...of course if u really love ur job, i'm not suggesting that u quit to become a trader, but getting one point on two contracts is the same as getting it on 10 in the ES ml: i’m just saying that if u can “really” pull a point per day on 2 contracts, the ES provides more than enough liquidity to handle 10, 20, or even more

i’m not suggesting that anyone trade contracts that are too big for their account…that will also make it very hard to even get that 1 point

so once u can consistently get that one point, why limit yourself to pay off credit card debt, or take a small vacation…of course if u really love ur job, i’m not suggesting that u quit to become a trader, but getting one point on two contracts is the same as getting it on 10 in the ES

]]> By: Richard http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7016 Richard Tue, 13 May 2008 17:39:16 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7016 I agree with you on that, though I would generally tell people that starting with 5k almost ensures failure. Anyone wanting to make a real go of it needs a large pool of money to live off of while learning, and plan to lose their 5k starter account a couple times. At least, that's what I'd recommend as a more realistic path. I agree with you on that, though I would generally tell people that starting with 5k almost ensures failure. Anyone wanting to make a real go of it needs a large pool of money to live off of while learning, and plan to lose their 5k starter account a couple times. At least, that’s what I’d recommend as a more realistic path.

]]> By: Michael Lomker http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7015 Michael Lomker Tue, 13 May 2008 16:28:46 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7015 @John: The average trader starts with a $5k account, judging from the people that I've talked to and the statistics that I've seen. Trading 10 contracts on that would be remarkably unwise, even though some brokers have $500 daytrade margins. After 4 months of losing money I've found something that has been working for a few weeks. I've gained back half of my losses. At some point will I throw a larger account at this? Sure, but the type of person that reads articles like 'can you make it as a trader?' has no business doing so. You should know if what you have works before trading that kind of position! @John: The average trader starts with a $5k account, judging from the people that I’ve talked to and the statistics that I’ve seen. Trading 10 contracts on that would be remarkably unwise, even though some brokers have $500 daytrade margins.

After 4 months of losing money I’ve found something that has been working for a few weeks. I’ve gained back half of my losses. At some point will I throw a larger account at this? Sure, but the type of person that reads articles like ‘can you make it as a trader?’ has no business doing so. You should know if what you have works before trading that kind of position!

]]> By: John http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7003 John Sun, 11 May 2008 23:38:08 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7003 michael lomker: don't forget that richard traded for quite awhile before he made the jump if u can pull 1 pt./day on 10 contracts, what's the difference? part-time job or a pretty darn good living...just sayin' michael lomker: don’t forget that richard traded for quite awhile before he made the jump

if u can pull 1 pt./day on 10 contracts, what’s the difference? part-time job or a pretty darn good living…just sayin’

]]> By: Richard http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-7000 Richard Sat, 10 May 2008 04:38:02 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-7000 An interesting point, Michael. I'm a pretty all-or-nothing person, so I'm not apt to think of gradations like that. I guess especially on the west coast it's easy to wake up super-early and trade the morning before work. An interesting point, Michael. I’m a pretty all-or-nothing person, so I’m not apt to think of gradations like that. I guess especially on the west coast it’s easy to wake up super-early and trade the morning before work.

]]> By: Michael Lomker http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-6999 Michael Lomker Fri, 09 May 2008 23:59:48 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-6999 What I find interesting is that a lot of people seem to be all or nothing. Trading seems like an awesome part-time job to me. If I can pull a point per day (average) on two ES contracts then that'll be a meaningful bump in my annual salary...credit card payments, whatever. You don't jump into a new career field assuming a full-time salary. Start small and don't blow out. What I find interesting is that a lot of people seem to be all or nothing. Trading seems like an awesome part-time job to me. If I can pull a point per day (average) on two ES contracts then that’ll be a meaningful bump in my annual salary…credit card payments, whatever.

You don’t jump into a new career field assuming a full-time salary. Start small and don’t blow out.

]]> By: Jorge http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-4894 Jorge Tue, 09 Oct 2007 06:59:40 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-4894 The best trading arena is pre-market, I have been paper trading it for 4 months and you just have to get to know it. Just watch it and learn. The best trading arena is pre-market, I have been paper trading it for 4 months and you just have to get to know it. Just watch it and learn.

]]> By: Downtowntrader http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/comment-page-1/#comment-2119 Downtowntrader Tue, 13 Feb 2007 21:19:49 +0000 http://www.movethemarkets.com/blog/2007/02/05/can-you-make-it-as-a-trader/#comment-2119 Excellent column Richard.I think you're right in that most "traders" know deep down inside, it's a matter of when, not a matter of if. The key is to be sensible and give yourself a decent shot at success. Keep up the great work. Joey Excellent column Richard.I think you’re right in that most “traders” know deep down inside, it’s a matter of when, not a matter of if. The key is to be sensible and give yourself a decent shot at success. Keep up the great work.

Joey

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