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Firms that train you and let you trade part time?

  #10 (permalink)

Elite Member
Washington DC
 
Futures Experience: Beginner
Platform: NinjaTrader7
Favorite Futures: ES
 
Posts: 71 since Oct 2010
Thanks: 98 given, 76 received



futurestrader1 View Post
How can you make north of a 6 figure salary (+$100,000) per year and not have your own capital? Just curious as to the amount of savings one has in making such a salary!

Seriously--please bigger font. That is extremely easy to save $0 every single month. Undergrad and graduate completely paid by the student with loans and then living in a city like NY, DC, San Francisco would easily leave you with almost no money to go out if you wanted to live in a half way decent apartment, own a half way reliable car and then dress as required by your profession/clients. After I graduated from undergrad, I paid all of my student loans, needed a loan for a car (not an extravagant loan either), and lived in the DC area--I didn't want to live in a rat trap, so after all of those expenses, including paying for the appropriate clothing, I did not start saving money until I was over 100 (I do not have a graduate degree, so that would put me even further north of 100K if I did until I started saving). Unless you want to live in a terrible place or live 2+ hours from your client/job, there is no way people can afford to live in certain areas for less than 100K (assuming they paid for their own education).

To the real question, @apextc, read as much free stuff on this forum and I would suggest some of the most popular trading books (see what Fat Tails suggests--I have read them all and suggest his list). After that, study charts for many, many hours (no specific number--until you are comfortable....comfortable means you can look at a chart and everything comes to you like muscle memory for a quarterback). If you are studying historical charts, then you have an added layer of studying charts in real time/trading sim in real time while you build your starting capital. For me, things that helped me when I went live was to look @ everything in ticks/points instead of dollars. Do not over leverage yourself--you will surely fail. If you go on a losing streak and feel yourself getting depressed/making really bad decisions, take at least a week or two off--I wasn't able to mentally change my mindset the next day if I was on a losing streak (either too much money lost or too many days lost), I needed at least 2 weeks to get my mind right before trading again (each person is different).

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