I thought Matt's advice was all that was needed to be said. I'd just be going over the same ground by answering.
I know a guy who is a professional margin trader. Since he has become a margin trader he has more or less disappeared from the social world. He's up all night trading in the main hours. His wife has been trained to kill or add to positions by remote command.
Margin trading is a 24 hour / day job. You need to set alarms before you go to bed whenever you're in position.
You can't really margin trade casually, like if you have a job. I'd like to dabble more in the markets, but I work 70 hours per week. I don't have the time to really get a feel of the market, spend 1000s of hours looking at charts to spot the opportunities.
I do spot trade and I do occasionally margin trade, but I almost only do it when it follows my trading rules or it's a short opportunity I see when an event occurs.
So recently when Facebook had it's privacy problem, I put in a 100X short with $1,000 and left it. If I lost it I wouldn't be bothered. If it goes good then it will cover my living expense for the year.
IMO those are your two options: full time or find a way to look for the next big short/long. One idea would be to get updates of Trump's Twitter feed and short anything he starts bashing.
As mentioned, most people who go in for margin trading get rekt. I occasionally go into a crypto trading chat. I've been going in since about 2013/2014. It's a regular occurrence for someone to loose their entire stack.
Anyone who can make it doesn't use more than about 10X margin. 100X is for punts.
I know a guy who is a professional margin trader. Since he has become a margin trader he has more or less disappeared from the social world. He's up all night trading in the main hours. His wife has been trained to kill or add to positions by remote command.
Margin trading is a 24 hour / day job. You need to set alarms before you go to bed whenever you're in position.
You can't really margin trade casually, like if you have a job. I'd like to dabble more in the markets, but I work 70 hours per week. I don't have the time to really get a feel of the market, spend 1000s of hours looking at charts to spot the opportunities.
I do spot trade and I do occasionally margin trade, but I almost only do it when it follows my trading rules or it's a short opportunity I see when an event occurs.
So recently when Facebook had it's privacy problem, I put in a 100X short with $1,000 and left it. If I lost it I wouldn't be bothered. If it goes good then it will cover my living expense for the year.
IMO those are your two options: full time or find a way to look for the next big short/long. One idea would be to get updates of Trump's Twitter feed and short anything he starts bashing.
As mentioned, most people who go in for margin trading get rekt. I occasionally go into a crypto trading chat. I've been going in since about 2013/2014. It's a regular occurrence for someone to loose their entire stack.
Anyone who can make it doesn't use more than about 10X margin. 100X is for punts.