Help Out A Struggling Day Trader on Disability

Help Out A Struggling Day Trader on Disability

From Mark Romero

I am currently out on disability from my oil field job and trying a new career of day trading to support my family. I joined a prop firm with $5K but am down to $1K now which locks me out until I wire more money.

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Update #1

almost 5 years ago

My prop trading firm is going to make an exception and allow me to wire $1,000 rather than the full amount. I've now set the campaign goal to $1,000 instead of the original $4,000.

More Info

I have had a passion for the stock market since I was in my early twenties.  I tried years ago to invest in the market, while being in the Air Force, but I had no idea what I was doing.  Recently I made another attempt to swing trade while working in the oil field.  I found it challenging to give the attention I felt my trading needed while working as a field engineer in the oil field.

More recently I decided I would take my remaining $5,000 of investment money and attempt to learn how to day trade on my time off.  I worked a 15 days on call and 6 days off schedule which would allow me time to learn how to day trade.  I planned on taking the next couple of years to slowly work on day trading in hopes of someday making it a career.  Only days after I funded my account I was hospitalized after having an anxiety attack.

I have had these anxiety attacks twice before over the past 10 years but this one put me out of work.  I have been out of work since November 2014 and not sure if I will be able to go back.  I am married with two kids and we are able to maintain  our lifestyle with my disability but I'm not able to fund my account as needed during this turbulent time.

I attempted to day trade immediately after getting out of the hospital (Not the greatest idea in retrospect.) and had horrible results.  In fact November and December were large draw downs on my account. 

My Win Ratios Thus Far:

  • November = 41.27%
  • December = 47.69%
  • The most encouraging to me has been January with a win ratio of 60%.

Draw Downs Thus Far:

  • I lost $1,423.33 plus $226.80 in Software & Data Fees from November 13th - the end of November
  • In December I lost $1,504.07 plus $260.90 in Software & Data Fees
  • In January I lost $483.52 plus $260.90 In Software & Data Fees

Gross Loss or Gain Prior To Commissions:

  • November 13 - 30 November = -$840.71 Gross - Commissions = $582.62
  • December = -$778.55 Gross - Commissions = -$725.53
  • January = +$28.40 Gross - Commissions = -$511.92

I am starting to get the hang of day trading with the help of a mentor that found me through Twitter.  I am making less mistakes and being more disciplined but through the process of learning I have drawn my account down by nearly $4,000.  I currently have just over $1,000 and received an email from the head of the prop trading firm (CY Group), I trade through, stating that I needed to check my account blotter as I’m getting close to -$4,000 draw down in my account.  I wasn’t aware of it but at this point I will automatically be locked out and to put it plainly done with this day trading career. 

If I were working I could eventually fund the account again and continue working towards my goal of being a successful trader.  After weighing my options and brainstorming I had the idea that maybe others might be willing to help me rebound into my passion of trading.

The Minimum Needed:

  • Normally I must fund the account to $5,000
  • I set the goal at $1,000 as I spoke with the account manager and he will allow an exception if I wire that amount

There are much more honorable reasons and or people to donate money to and there are people who need help much more desperately than I do.  However, I felt I should at least make an attempt with this effort as you never know who may be willing to help.    One way or the other I will find a way to continue but as of now I am looking to others for help.  If you would like to read more about my journey you can visit my site http://www.withwingslikeeagles.net

Thanks to everyone for your support through my site and the emails and know that I am a fighter until the end and I will never give up.

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Mark Romero posted a new update:
almost 5 years ago

Update #2

My prop trading firm is going to make an exception and allow me to wire $1,000 rather than the full amount. I've now set the campaign goal to $1,000 instead of the original $4,000.

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