This is an option, however the online prop firms like Topstep and Apex aren't very suited if you don't have a strategy yet due to their rules, i doubt building a strategy around those rules isn't going to bring success in the long run. And even then, those kind of firms are hamster wheels, a beginner will like never succeed there with all the extra rules. Real prop firms that provide education are probably going to ask him to be there full time without any pay for the first like 6 months at least, depending on your performance, with no guarantees for success either. Doesn't sounds like that would be working with his job to pay his bills.
Plainly obvious from their post history. Also just as obvious, again from their post history. they haven't a clue after 4 years here.
Man, by the sound of it, you're really not ready for trading full time. As mentioned already, you should paper trade for at least a year. Treat it as if you were trading live. You'll need to be profitable for at least 6 months otherwise it's a no go. But paper trading without any profitable strategy in the first place is just a waste of time because you'll simply blow up. So learn, learn, and learn some more about trading, whatever that may be.
I agree 80% with Schizo, but I wouldn't paper trade for too long. IMHO, it's better to trade with minimum size (1 micro futures, 1-10 shares, etc.). The psychology of paper trading and trading with real money (even if it's a ridiculously small amount of money) are very different. Other (bad) ideas: ask the bank for a loan, borrow money from relatives and friends, max your credit cards, etc.
I doubt that he (@mute9003) will listen to you, at this stage he doesn't seem to have the maturity to become a trader. He’s not even capable of an honest self-appraisal. There is a very evident theme in his posts which clearly show that his current psychological profile is in many ways diametrically opposite of what it takes to be successful in trading. The market is telling him that he currently doesn’t belong in the market, and the market will continue to give him expensive lessons, He’ll continue to seek action and blowing up his accounts (or topping up) until he runs out of money.
I see no point saving a lot of money and then burning it due to lack of edge, probabilistic thinking, consistency and emotional roller coaster. I might be a contrarian to what others think but if you cannot trade $1000 account you cannot trade any amount. Find intraday trends, study pullbacks and play them. You need nothing more than a moving average and 2 timeframes (context + insight for execution). 1-2 hours per day is far enough for this "job" With such a relatively small amout you can take higher risks of course and your account can grow quite fast (% risk) The great thing about this is that you have to learn to be consistent (otherwise you get nowhere), you get used to equity swings similar to trading bigger account with smaller risk and you gain a lot of practice! I do not like prop firms anymore, lot of pointless rules that are there to benefit prop firms not you and hold you back very often. You migh start the same way swing trading that better fits your personality and daily timeschedule but it can be A LOT slower way (not always true though)
You can trade futures. With US$5k account, you will be able to trade the popular small size contracts (MNQ, gold, crude oil ....). Let your account grow to $50k, $500k, $5000k .... It can also decay from $5K to 0.
its also obvious that yall are not here to help either. all you doing is feeding your egos. trying to flex on eachother. not everyone is meant to be a teacher. you can be a great trader but a shit teacher.and you can be a below average trader but a great teacher. there are very few here who can still remember how it is to be in my shoes trying to learn this. because most of the trading concepts are very simple once you understand them and all of you forget that understanding those concepts is the problem in the begining. there are few things that i couldnt understand for years and it didnt make sense to me at all. until it clicked. and now its simple as fk. but i also understand that to a new trader its not simple as fk. yall cant even read a fucking question before answering and tne get butthurt at me calling you out for not even bothering to understand what is being asked. some of you shouldnt be helping others because you genuinely dont understand how to be a teacher. where in my question did i ask about whether i want your opinion about trading with live account. or how much money i should have in my trading account? it was a simple fucking question and yall cant even do that this is my trading account and i expect to lose money so im planning to feed it as im getting better at it. i need to grow it so i can make more trades per day because its a cash account. and i miss alot of opportunities every day because i can make 3-4 trades and then im out.
i already learned that part. i started with 300 on robinhood. then moved to webull grew the account to about 7k in about a year and a half. then started adding alot of money to it.and when bear market started i failed to adjust since i never traded in bear market i went back from 30k to about 8k and had to pull money out for my mom's medical bills so that was also something i learned not to do. trading with paper money is like riding a bycicle in videogames and then assumig you know how to ride a real bike. im trying to feed the account to 5k because that would give me enough room to make more than 3-4 trades. i was doing good. almost had my first green week and slowly creeping up until i made few mistakes. i made 2 mistakes that got me stuck in long positions and now i can only use half of the cash... so with 5k would give me some room if i make a mistake and im stuck i would still have cash to trade with.