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Reserves: How much do you require to feel comfortable trading?
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Reserves: How much do you require to feel comfortable trading?

  #1 (permalink)
Trading for Fun
Scottsdale
 
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Reserves: How much do you require to feel comfortable trading?

This question is specifically aimed at others who are trading for a living, but obviously I'm open to all opinions.

I'm talking specifically about non-trading money. Seems to me as if having adequate capital reserves affords somebody more patience than somebody who lacks them. How much did you require yourself to have in order to feel comfortable in executing your trading plan?

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  #3 (permalink)
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What number would make you feel secure? There’s your answer.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #4 (permalink)
Trading for Fun
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teamtc247 View Post
What number would make you feel secure? There’s your answer.

That wasn't the question. I'm curious about other peoples' experiences.

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  #5 (permalink)
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Hi Rock,

Please don't take this the wrong way. Your question to me sounds similar to "how long does it take for you to become successful at trading." For everyone it's going to be a different number, for some it could be astronomical and for others not so much.

If you have a solid trading plan/strategy you should be able to execute regardless of the number in reserves.

Confidence is key to comfortably executing your plan. Happy Trading!

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."

Last edited by teamtc247; December 18th, 2013 at 12:01 AM.
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  #6 (permalink)
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Fadi's Avatar
 
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To answer your question nonetheless, for me it would be like 4x the capital required for your strategy.
So if you need $50k to trade properly let's say, then you'd better have $200k in the bank too... That's roughly my basic approach, assuming that with $50k of course you can generate and support all your financial needs.

Successful people will do what unsuccessful people won't or can't do!
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  #7 (permalink)
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I had enough to live on for 2 years. So I knew I didn't have to earn a single cent for 2 years and that would be ok.

Trading full time takes a huge amount of time and experience to get right. Only having enough reserves for a few months and expecting to crack this in that time is guaranteed to fail.

Diversification is the only free lunch
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after basic necessities you also want to have enough money to treat yourself once or twice a week just to keep a level head otherwise you're going to feel like all work and no play makes jack a dull boy.

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I like what everyone wrote....the common theme is having separate accounts so mentally you feel you can detach from a certain amount of money....which is both good and bad.

to each their own....my own view is similar to dave ramsey's teachings....

having quick cash (1k, 2k 5k, 10k...whatever is comfortable)

have liquid cash (money market/bank)

have savings for 6 to 12 months

have several trading accounts

have mutual fund accounts


for me....just having 10k liquid puts me at ease...knowing if my trading account gets stolen by my broker, trading glitch, whatever it is...if I go bankrupt....I have some time to rest and recoup.

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  #10 (permalink)
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Reserves: How much do you require to feel comfortable trading?


I think it depends on the persons own feeling that up-to how much he want to trade and earn.

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