Trading your own Account?
Does anyone trade there own personal account here? I eventually want to start trading my own account, I understand its extremely hard.
If you dont work at a trading firm what are some tips to getting to the point where you can develop the skills to trade your own account?
What is the minimum you should start with, would starting with 10k be way to thin? What are the best markets for a beginning trader to start in?
Obviously some markets can be harder to trade than others, whats a market you feel that can be beaten more than others right now?
I'm sure a lot of people trade with their own money. I started an options trading account with only $10k. Yes you're limited in what you can trade if you want to have good risk management/capital allocation but it can be done. I'm not trying to make millions or live off my trading though, its just something I do in addition to my day job for fun.
You need 25k to day trade.
No you don't... there are plenty of brokers out there that will offer you the leverage needed to get around the PDT rule for equities.. you can also trade futures with as little as what is required to attain leverage from your broker (sometimes in the $250-$500 range).
Don't you need a minimun 5k to trade futures, FTM?
If you are going to start trading within the next few months, I would hope that you are quite knowledgeable about the markets. The markets will be quite choppy the next few months with it being earning seasons, the presidental election, and the upcoming "fiscal cliff". Proper position sizing and risk management will be key.
Self-study resources regarding investment and best trading acocunt provider for monthly investments? (Originally Posted: 07/17/2015)
I am looking for resources that I can use in order to teach myself how to invest my monthly surplus. I want to invest 2000€ per month in a vehicle that offers liquidity and a decent risk/return ratio.
Can you suggest any websites, blogs or books that will help me understand the different options regarding such investments and an overview of the best-performing vehicles?
Also can you suggest a trading account provider?
http://www.open.edu/openlearn/futurelearn/managing-my-investments
Have you ever traded your own account (Originally Posted: 08/30/2010)
I know that a common question in interviews is: What is the biggest risk you've taken? Do you have your own trading account?
I have been debating whether or not I should open a real account, but was wondering if anyone new of any useful "play" accounts that are respected and accurate.
Also, what are interviewers looking for specificallywhen asking this question?
Unless your PA is in the hundreds of thousands, your personal trading account isn't going to be the answer to the biggest risk question.
Interviewers want to know you have taken steps that require a relatively small investment of your time to learn more about the career path you are about to embark on.
For good play accounts get yourself one of the FX broker demos. They are generally very good (i suggest oanda).
Trading your own account (Originally Posted: 03/17/2010)
How often do you trade or view your own portfolio? Do you ever trade during normal business hours at work?
I'm a freshman so I usually have time to check up on my portfolio every little while. My options portfolio is up 104% which is pretty damn sweet. Maybe that's what should get into in the future.
Naked calls and puts?
I think the question was directed for people at work.
Pretty rarely during trading hours. I track some of my personal investments on my bloomberg launchpad monitor.
It's too busy during the trading day and compliance restrictions make it difficult. Most of my portfolio is in tax-advantaged investments, so not much choice besides mutal funds. buy and hold. yawn.
I used to trade my own account fairly actively while I was in banking, actually moreso than I do now. I did a lot of event based stuff, so I did occasionally trade during work. A few of the other analysts also played the market, and in our down time we chatted and ran some public companies through our valuation models and things to find opportunities.
We did clear all our trades through the automated compliance system, but I still don't think they would have liked to know we were trading at work.
Trading your own account... (Originally Posted: 01/07/2010)
I'm new to the idea of trading for a living, or the thoughts of getting into this business at a professional level. However I have grown to become pretty good at trading and being profitable consistently.
With very low risk I can do 2-5% a month on my account (less than 100k). Now obviously getting that kind of return is much different then on an account of 50 million, but wouldn't these results raise eyes and get me in the door somewhere? (sometimes I look at my account and feel like Bernie M. the way my chart looks)
Any advice on a game plan, or should I just raise money from family and friends? I don't think I could get into a Goldman or whatever other firms everyone slobbers over on this board...I don't have the extreme education, just the instinct which I hope does not run out.
Any thoughts anyone wants to bounce off me that would be great.
Thanks
Cash advance on a 0% apr credit card?
I'd be very cautious though. If you began trading, say, since Feb/March of 2009, it isn't hard to post good returns.
What you could do is create your own company (which is fairly cheap) and just trade under your own name. This way you have a permanent and legitimate record of your trading record, which you can show to other trading companies if the opportunity arises (you could also just use your own account and not incorporate yourself, but it looks nice and has some benefits).
So for starters, I'd start raising money from friends and family if you and they are comfortable and build up a track record. Also start networking with prop shops and what not to see they'd be interested. Also a good way to build a network that you can come back to when you have a longer record.
Good luck!!
trading your own account --> jerb (Originally Posted: 03/10/2011)
Hello all!
Here is my situation:
I studied liberal arts at some OK non-target Ugrad. D1 athlete. Did zero internships.
Now at LSE getting another mickey-mouse degree. Got no S+T offers, surprise! Still really into trading.
at any rate, with the aid of reading WSO boards, I've heard prop shops like to see people trade their own dollar. So, I've been trading my own account (real $$$$) for like, I don't know, 5 months now. Done pretty well so far doing options, all intra-day stuff.
Now, for my question.
What kind of return do these prop shop guys want to see? And for how long a duration?
I really enjoy trading and while I can always do it on my own it would be cool to do it pro so any tips would be much appreciated.
Thanks alot for your help, this site is a great resource.
Hmm.. In the past I have read that for the most part employers could care less what you do with your account. Considering the SP500 is up 17% in the lat 6 months, a 50% return on a personal account would be impressive enough for them to maybe consider you over a more qualified applicant.
What kind of mickey-mouse degree? I'm on my way to being in the same boat as you.
network
you shouldnt have much problem getting interviews out of an LSE MSc tbh
trading your own account doesnt really add much to an application
derivstrading, what if someone was daytrading ED spreads? Wouldn't that help for someone trying to get on a STIR desk?
btw, checked out your blog again, it's quality. SB for you.
I think the benefits of doing that is you get to know a market a bit more than just reading the FT if you know what I mean.
In an interview it allows you to show a bit more knowledge than the average candidates and discuss your trades. Therefore if you are not just punting around it will work in your favor. However, as something on your CV it is not overly significant. Only once you get grilled on it does it become something.
At least you're a pro at analyzing disney now
LOL
Everything I have heard is that trading from your own account gives you a boost in interviewing. Ive also heard that shops dont care much about how you actually did, obviously for your own sake you would want to be positive. But, they care more about the experience you got from it and how it helped you make the decision to want to go pro.
Trading My Own Money (Originally Posted: 05/05/2011)
So, here's the thing. I recently got my first job. I work at a tech company doing something non-finance related and make less than $50K/year. I only work 40 - 50 hours a week, so I have lots of free time. Furthermore, I have a vague sense of what I want to do with my life in the long-term. Namely, I want to work for myself. I want to own/run businesses and invest (via angel investing and trading and/or investing in the market).
So, in my free time, I want to start playing the markets. I'll tell you right now, that I won't have much money to play with. At first, I'll probably only have $500 - $1000, and from there I can probably add a few hundred a month. My biggest question is what markets can I play? I work from 8 - 5, so I'm really not sure what's feasible. If you have any general advice, I'm all ears.
equity options
Interested as well
If it's options, I recommend OptionsXpress. I don't use it personally, but some of my friends do and it was recommended by a professor for its easy-to-use mock trading.
Remember guys, part of the issue is that I can't trade 8:00 - 5:00. So, what's available to trade at other times?
.
+1 for thinkorswim. you can also program your own trades into it automatically based on technical analysis
nobama, its not a bad idea but i think he wants to learn to trade, not have someone trade for him!
haha OP, i think your best bet would be to hit up the fx markets. 24 hours a day--just pick a currency you like and dig into it. if you like your sleep then see what currencies trade 6pm-11pm or something like that.
also, if youd rather trade on the equities/options side or something like that, just trade a foreign market like the nikkei, LSE, etc...
im not big on time zones so i cant really recommend one off the top of my head..
Thanks Nobama, but leveRAGE hit the nail on the head here...
I'll look into it, but I'm definitely interested in hearing about other markets.
If someone could chime in on this, I'd greatly appreciate it.
The ASX opens around 8pm EST, Hang Seng around 10pm. Those seem to be good bets given your time frame. FX is 24 hours as leveRAGE mentioned and it's good fun.
I trade spot FX in my free time. I use Oanda.com and have had a good experience with them.
They also have a great app that works really well on the iPhone (not sure if they have it on other platforms)
They Yen would be really active at that time (6-11) as that is right in the heart of the asian trading session. But honestly I have found that the Euro is always hot and the aud/usd as well as usd/jpy are particularly heavily traded at that time.
Also, like you I opened my account with 800 bucks, so far my realized P&L is 18%. It ts a battle out there though good luck!
Btw i got into because I got a FX job and thought it would help me learn the flows of the market. It definitely has.
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