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ABOUT QUITING MY JOB AND START A HEDGE FUND!!! ADVICE NEEDED

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Tatu Francis
483
Tatu Francis  

Dear Traders,


 Am 25 and  trading  my friends capital and my own, like a crowd fund,  or a hedge fund, All are encouraging me to start a trade room kinda stuff, A full time trader with all streams of media and all other technical stuffs, Whats your opinion about that?


 I got around 2000 USD salary per month and I do some stores work, 90% in front of my computer. Currently working with an underground metro project, it ends after 1 year or so,


Can you guys advice me in the following questions..


  1. How Much capital I need to take 500.00 USD profit a day, with 400 x.
  2. Should I trade Alone? or get a trading mate or employee some good traders( ?
  3. What Should be my target if my Capital is 10k USD with 400 x.
  4. Currently trade with XM.COM, is it okay?

Cheers,  Tatu.

Damian Mateusz Dziadosz
7293
Damian Mateusz Dziadosz  
I do not want to sound rude but if you rely on other people opinions to make a business decision that means (for me) that you are not ready yet but if you start your business i wish you good look.
Stuart Browne
6683
Stuart Browne  
Trying hard to be diplomatic here mate. After looking at your signal, trading 1 to 2 lots on a $1200 account, the decision of whether to quit your day job or not will not be a choice within the next few days. Your account will be destroyed.

And as Damian alluded to above, the questions you are asking really tells us that you are nowhere near ready to trade full time. Sorry to burst your balloon mate, but hopefully it will save you a very expensive lesson.
Marco vd Heijden
Moderator
5750
Marco vd Heijden  
Stuart Browne:

Trying hard to be diplomatic here mate. After looking at your signal, trading 1 to 2 lots on a $1200 account, the decision of whether to quit your day job or not will not be a choice within the next few

days 

Years.
Michael Maggi
1674
Michael Maggi  

I have had my own business including real estate worth a lot of money until an earthquake stuck.

The thing about a business is that as the owner you are actually the last one paid.  Keep banking your monthly income and start your business part time. When you new business takes all you time and pays all the bills and piles up in your bank account you will be ready to start a business full time.

Start by reading the business plans of people you respect.  Learn from other people's mistakes at least because you don't have to reinvent the wheel.

Osama Shaban
1689
Osama Shaban  

Sorry to say, I just read your first point of five ...

It was enough for me to understand you are too far to be ready ...

I'm really sorry. It is better to get such replies from now instead of

later it will be too late.

Good luck ... 

Francis Dogbe
9562
Francis Dogbe  

READ ....

https://www.mql5.com/en/blogs/post/666168 

The secret ingredient if you want to become a full time trader – what nobody talks about
The secret ingredient if you want to become a full time trader – what nobody talks about
  • 2016.04.04
  • Francis Dogbe
  • www.mql5.com
The secret ingredient if you want to become a full time trader – what nobody talks about Rolf - Tradeciety.com Psychology 4 Comments 529 Views Looking back, I now realize that what allowed me to...
Francis Dogbe
9562
Francis Dogbe  

More to read... 

http://www.fxkeys.com/how-does-it-feel-to-be-a-professional-full-time-forex-trader/ 

How Does It Feel to Be a Professional Full Time Forex Trader?
How Does It Feel to Be a Professional Full Time Forex Trader?
  • Chris Pottorff
  • www.fxkeys.com
Some people start learning and trading forex while they already have a job and income. They want to generate an extra income to have a better living. Some others have no job and income, and want to make money through forex trading as a full time job. The first group, will finally become a full time forex trader, if they succeed to make money...
Francis Dogbe
9562
Francis Dogbe  
MY ADVICE: keep your job and continue trading.  Remember full time traders are also on salary monthly, whether they trade or not (profit or loss). :D
Patrick Burns
1620
Patrick Burns  

I work and trade, but the only way I can do this is to find a system that can be automated as much as possible. Manual intervention will always be needed at some juncture.

Most brokers are sharks, so if you start with that assumption, you won't end up disappointed. As long as they pay up when you withdraw profit, that for me is the main thing.

This whole game is predominantly news driven. If you are sitting at your home on a PC you are out of the loop and can only react to an event after the starting gun has been fired. Gambling on the news is the preserve of the rich with money to squander.

Your system needs to be able to cope with the weekly tremors of the bigger news events and big shocks like the Swiss removing the floor on the Euro. So called once in a lifetime events come around more than once in this dirty game.

Don't put a penny of real money in until you have found something that works, or you will go bust and spend the rest of your life cleaning other peoples toilets to scratch a living.

Tatu Francis
483
Tatu Francis  

Thank you all,


 To give me a good advise on this issue,

     I have started a study on support and resistance relation with volume, My basic sentiment is when volumes are reduced the R1 And S1 doesn't hit on day1 probably on day 2 or day 3, So I will analyzing live calculations with my co-relation formula and will be updating in MQL5 community.



  Cheers, Tatu.

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