I half expect this thread to go un-responded to because I understand that this can be a pretty intrusive and almost taboo type of question, let alone exposure to potential hackers and what-not. But, for those that are up to it: How much did you start with? How much vs. how long have you been at it? I remember seeing a post where someone asked the same question but in an annual percentage form. Everyone basically said “I have no idea, cash is king.”
I am curious because I have seen some people here that can trade like nobody’s business, and in watching the markets myself I’ve seen that regardless of all the potential pitfalls and concerns, there are very real, very substantial amounts of money to be made. So much money can be made that I think one of the real possible causes of failure is people realizing just how much of it there is, and trying to get too much of it.
I haven’t made any money yet but I’ll start by posting my hopes and dreams which are: Starting capital of about 5Kish while adding savings and a diminishing annual return of around %100. As my account grows, I expect to take less risk. Again, just if I could picture my perfect world, thats what it is. I figure at that rate, in about 5 or so years, I could be doing alright.
How much did you start with?
$500, lost it in 2-3 weeks, after that I think I lost another $1500 in the next six months or so)
Put in another $1000 and have been using that since
( I also use an over seas account were margin is 6-1, no restrictions on amount of trades per day/week, and 4.95 per trade)
I also have a trade king account which is setup for swing trades, and long term holds
how long have you been at it ?
A little over two years
How much?
Well lets just say I am not getting rich (still learning) but am doing close to a part time job.
I set my goal for 500 per week, which is nothing to alot of peeps here, but its an amount I can live with while still learning.
I take less risk now then when I first started, which is taking longer/harder to make money, but at least I am not blowing up my account on 1-2 bad/greedy trades
Wow, I knew you could get around the pattern-day trader rule but didn't know you could get access to more margin like that from an over-seas broker. I'm going to look into that. 6-1 is a lot of extra buying power. Isn't the max in the US only like 4-1, and thats with 25k?
I'm about to be making $500 a week pre-tax so thats pretty damn good if you make that trading, I think. It's good to know even you had a rough start though Blazer, good reminder that it's a skill and not a gift.
How Much Do/Have You Make/Made?
in the US you can get more than 4-1, but you need the $$$, or a prop firm (20-1)
I think there is/was a thread here that that has different brokers/prop firms
That 6-1 is cool, but thats also how I blew up my account so many times,lol
The house closes out your trade for you if its going south, so you lose all your money, but they do not.
Never had to pay them, so guess thats a good thing
I try not to use to much margin now
Side note, just got a notice my robinhood invite is on the way.
Mobil trades, but the commission is zero, with no account minimum.
Day trading rules apply tho