Venture Capital?

Every thread I see in this forum is specifically about problems relating to the technical end of trading.

But -my- biggest problem isn't systems or indicators or testing--it's how I can realistically put that knowledge to work when I'm ready to go live.

I am penniless. I have zero family support. My friends are all as broke as I am. I graduated college with honours, but hundreds of job applications don't even get me calls-back; even if I did get a job in this economy, it would pay me so little I'd barely manage the rent (which I'm behind on), my medical bills (which I'm neglecting), and food (which I eat little of). It wouldn't result in savings.

I have no credit. The bank says I cannot -get- credit on such a time frame where I'm not likely to go homeless in the meantime. I've been staring the streets in the face for years now. I survive on the grace of a landlord who is getting foreclosed on. There's no one to co-sign on a business loan with me or a credit card so that I can build enough credit to -get- a business loan. I've attempted to sell my art, which is my only other skill; that's not working either.

In this economy, I -cannot- be the only person in this situation, and I am certain that even before this, some of you had to have been in my position once. I am desperate some days, and completely terrified most.

How did you get over this phase if you were in it? How did you smash down the walls and get started?

All I want is to make the kind of money where I can live my life as I choose, with real freedom - and the kind of money where I can help others to live -their- dreams by giving them the capital they need. But I cannot for the life of me seem to find anyone who can help me out in the same situation.

Kyla

Yes I mean to be blunt.

Get a job, any job! Keep a roof over your head, electricity on, and water running. You can do that with any job....if not, you're living beyond your means. Move into a cheaper place!

You can trade anytime. It takes time to be professional trader, doctor, attorney, engineer, business owner, etc... Don't think you can start at the top! You're no more a professional trader than Joe Blow that started trading yesterday! Earn it and you'll appreciate it.

Nobody in their right mind would give you capital to trade!

Have you -looked- at the unemployment rate in this country? Those are the -reported- figures. waaaaaaay easier said than done, sir.

I live in a tiny room, I pay 3$ for the use of my phone. I barely eat. I do not entertain myself. I think you must've missed that part of my post. My expenditures are far below the poverty line in this country. If that's "living beyond my means", I should put a gun to my head.

I'll have you know I've been studying and testing for five years too. I don't consider myself a professional anything at this point. Just a dedicated student in a tight situation.

Thanks for making big assumptions;

K.

Dude! There's a lot of positives to your life. You're good at budgeting and have almost no debt you have to pay off; you have your youth, and you don't practice the two greatest self-inflicted killers (smoking (?), overeating); and, you know how to think and have access to a computer.

Even though you have a few skills in trading, forget it for now -- It's a hobby. You're desperate, a bad time to trade.
Can you get a lower-paying job? Do you have the ability to move to an area of the country with less unemployment? Can you create a dependable job (that is, not trading) online?

Good luck.

I agree with many of the others, it takes money to make money, and without some kind of third-party audited statement of your performance, nobody should give you money.

I live pretty tight too, and don't make much, but you know what, I make more money just working than I do trading, because the kind of risk I would have to take to yield a noticeable (in real dollar terms) return off of trading would be equivalent to going to the casino, but a lot more work and a lot less fun.

I know the job market sucks, but there are still plenty of lazy, under-performing derelicts working out there whom someone would love to replace.

Be happy you're not this guy....


http://www.debtkid.com/about

If you're not living beyond your means, then fantastic ... you have a lot of positives. Right now you should be focused on keeping a roof over your head, electricity on, water running, and food on the table. You owe that to yourself and your family. Don't fall into the trap that thinking just because you have $100,000 that you can earn a nice living. Many traders have lost several times that and still do.

I promise you that if you're a good enough trader, then you can take a measly account and turn it into a fantastic stream of income!

good lord, yikes. I'll say! Though I am impressed by how much he's reduced that debt in the past three years ... Thanks for sharing that.

Thanks for the perspective - sometimes I forget that I could have all the money in the world and still blow it by being an idiot. Perhaps I should just be glad for the gift of patience, even if it has come to me through curses.

Btw, GulfCoast, thanks for replying again and revising your tone. I thought you were being a bit immature at first - but terrible habits are so common (particularly among the desperate) that I can hardly blame you for jumping to conclusions. Nonetheless, I am extremely patient. Just having a rough day and looking for some original ideas.

Thanks again for the encouragement;

Kyla

Kyla, regarding venture capital. Walk into a shop and tell the owner that you could run his business better. You don't have any hands-on experience, you're not trained in that trade, you don't know the customers and their habits. Nothing. And you want to run his shop.

The only way to get money and not get busted sooner or later, is to work. Work better and more than the others.

How to start? A friend of mine took a job on a cruise ship. No worries about food, shelter, bills, and he gets the chance to see distant countries.

Look, if it helps you right now, I can send you $15 on paypal. Or order the biggest pizza in town delivered to your door. But the only way to get out of the shit is to work. Sometimes you have to lower yourself a little, do a shit job just to have something.

I think you fell into the big trap that 99% of the US falls into. After attending a year at Washington State University, I decided a college education was the absolute worst way to blow $120k and 4 years of my life. I know you threw the immature card out there, so I hope you're keep reading, but it's a viewpoint that very very few take in this cold and calculating world.

My epiphany occured over the course of two days with two college classes. I was going for Mechanical Engineering and took ME107 my 2nd semester. The teacher told a little bit about himself on the first day. He said he had graduated from WSU a few years back with a degree in ME as well, although was unable to get a job in the real world because employers felt he was unqualified. He then decided to go back to school at Wazzu for teaching and landed a job their teaching the degree he had recieved there... so... to recap... I was paying to take a class from a guy that recieved a deficient education for societies standards from the school I was going to... Why am I doing this?

Later the next day I walked into my first day at ECON101, a course required for ME majors. The teacher introduced himself as a 23 year old, double major in business and finance, business guru who quote "I am going to teach you how to make a million dollars, using business." Instantly I though... wait a sec... this guy knows the secret to making a million dollars and yet he chose to take a teaching job for $40k a year 300 miles away from Seattle in the middle of a bunch of wheat fields!? And he's 23 and the only business he knows is from the books he read!?!?!?

Basically, college is the most propagated piece of garbage capitalism has ever pumped out. The cycle works as putting young people into debt with student loans, profiting on them that way, profiting on their tuition and providing under par education, getting that education socially accepted as a standard. Once they enter the rat race they are too far in debt already to get out and often times believe that what they paid for really gave them a competitive edge.

Fact is, business and money making money is where the cream of the crop of society subsides. The prerequisite to apply for your own motivation and intellect is free. The reason why I took the time to type this excessively long story is because I saw the path you headed down years before I was there, so I chose a different one. Starting at the age 19, I began opening low-cost businesses as I developed my trading experience. People pay over a hundred grand to spend 4 years studying knowledge that they will only have a 10% retention rate for and even less on the useful scale... trading is not something that can come quickly or overnight. It is not a cheap and painless route such as studying, receiving a grade, and being "promised" a mediocre job upon graduation. Studying markets and self-development must be from self motivation. There is nobody patting you on the back and very few find instant success. The advice I just gave is very similar to the guy who posting how trading is an art: http://www.forexfactory.com/showthread.php?t=259572.

When I began my journey to where I am now, I started buying exclusively Nike shirts and shoes, because my motto became "Just Do It." I found I accomplished more by just throwing myself out there than sitting around trying to figure out if what I was doing was correct or not... although with trading, definitely start with a practice account.

Best of luck! Reply back if this was helpful at all or not.=)
David

Oh! and for venture capital... nobody on this Earth will give you that advantage for free. If you are skilled and experienced you can land a trading job at a proprietary firm, but that often require a Series 7 and much trading knowledge.

There are brilliant money making ideas out there, but there are no free routes. Unless you have small basic capital to start a company, or a knowledge base to turn nothing into something with trading, you have to work until you can afford to do one of the two. I forgot to mention that my inbetween phase from when I quit college and hadn't a clue what to do and the success, was an intense amount of hard work. I was busting 60 hour work weeks along with managing a business prospect and learning to trade.
It was by far the hardest 3 months of my life.

Basically what I'm saying, is this not the easy or safe route, but it is the most rewarding.

David, that was a good reading, because it just smells like ... LIFE.

My situation is not exactly like yours but it is similar. I work full time+ at an unsatisfying job to keep the bills paid, food in the fridge, and I also have a young son to support, trust me money is tight.

My biggest kick in the ass was when I realized that there is nobody coming to save me... If I want something then I am the one who is going to have to get up and do it. There is no free handout... there is no magic million.

Since that day I have been putting $500 a month into my live trading account. Not because I have the money, but if you want something bad enough you just find a way to get it done.

It's now 4 months later and my live trading results are significantly worse than I expected they would be when I was a demo trader. However, my account is growing, my learning curve is faster than ever... what more could I ask for??

Nothing stopping you...

1) During bad times people survive on boiled rice. The humanity has advanced so much that poorest of poorest will get food and clothes. First thing is SURVIVAL.

2) The only thing that can change your life for now is a full time job. Recently few months back, Emirates Dubai wanted to hire 50 american graduates for salary of $ 27,000 per annum to be based in Dubai with free food and accommodation.

They could only found out 7 Americans who are interested. Rest of the Americans found salary to be of low class given the relocation involved.

The total GDP of world is $ 62 trillion. US GDP is $ 14.5 trillion. If you look at stats, we are back to pre recession days except the employment situation which is the last thing which gets recover after recession i.e June 2007. Jobs are there but our expectations are way off mark.

The second thing is SUSTAINABILITY.

3) Avoid sex to keep babies at bay. Parents who are struggling themselves or are homeless are reproducing babies.

People who are on unemployment benefits which will run out soon are reproducing babies accidentally realizing later how nature trapped them.

The third thing is RESPONSIBILITY.

Bottom line, Life will get straight if you can get a job. Hang in there but you have to search ways/jobs to participate in the real economy.

This virtual trading economy with few trillions dollars floating in cyber space sounds fantastic but from my experience, it takes plenty of experience and hard work to come out of top in trading activity.

Words of wisdom from gulfcoastpips- A great and successful trader out here.

Trading like any other skill involves building pathways in brains just like we do in all other skills. It takes time.

This means initially while learning trading, no money is flowing into your account just like a medical student who does not earn anything for couple of years.

No fast food out here...one needs to really put the effort in training the brain to make it suitable for trading.

Thank you! I'm glad all that typing wasn't wasted hahaha. But yeah there was a good year, year and a half that was a swift kick in the butt from life.

I actually don't have student loan debt, thank goodness. My college was paid for - and you're right; this is one more thing for me to be grateful for. At least what was wasted was time, and not money, or this situation would be even worse.

Nonetheless, I enjoyed reading your story, because it has been so exceptionally frustrating to discover my college education 1-actually taught me very little substantially on how to survive, 2-isn't valued by employers nearly to the degree I'd have expected. It's great hearing these things stated plainly by someone else, and you sound like a courageous person for making your own path.

I think more of what I was looking for when I started this thread were some details on the "how" some of you made it. You said that you started some businesses, David. What businesses did you start, for example? What was that process like for you? This is the sort of creative solution I am interested in.

Definitely a big misunderstanding here that I'm looking for "free money" - or that I'm not a hard worker. What I am interested in are new ways of looking at an old problem.

Thanks again for taking the time to share your story.

K.

Brilliant.