Recent content by Soesman

so true! Hope = Greed! As soon as you start hoping you start losing. Back in the mid 1990's I was trading at shop at 50 Broad street and I was very content grabbing 1/4 pt profits. I used to say happy quarters, until a very well known and wealthy partner in the firm called me some choice...

John, have you noticed on a percentage basis, you are letting your losers go a bit longer on the lesser priced stocks?...

couldn't you take a 60 day loan out of your IRA and replace it with no penalty. Add that to that 20K and you meet the requirements for minimum equity. Hopefully you will add to that amount in 60 days and you can replace the loan. Just a thought.

Usually I have found that the best firms are not necessarily those with the lowest fees, but those who offer the best support at fair and competivie pricing. By that I mean, fair commissions, adequate training when necessary or appropriate and execution systems that are up to date with up to...

John, I'm having alot of fun follow your activity! thanks!

you can only have an educated guess as to how a trader will perform in real life situations. I've had lawyers do horribly and dishwashers become stars. By having a trader put up some risk captial, the prop firm limits and or eliminates the risk. They also give you enough buying power to make...

In the firm's I've managed, someone who put in 10k was afforded the same quality of service as those who put in 1mil. If they bitched and moaned they were looked at as any idiot who was exceptionally rude. It seemed however the rudeness level was in direct correlation to the amount of stupid...

the numbers speak... a company generates $5k in comm a month off a guy who is losing 2K a month. they give him a draw of 1k and hes told he has nothing to worry about. Except 3 years later when he is broke and has no skill!

Hey 50, unfortunately, there are more firms out there like the one you were with than the good guys. You don't hear alot about the very good good firms because they are not the recruiting maniacs that the reputable firms are. I was reprimanded for many times for asking a trader to...

Great post John..do you use trailing stops? If so how do you determine the percentage or amount?

as long as you are making money you have nothing to worry about. Forget about generating commissions, if you are a profitable trader, you are a valuable commodity!

great minds think alike!!!

Dustin, my glare was more of an all knowing wise glare! :D the advantage I had when managing prop firms was that I was a reasonably successful trader that was in the same position as my guys,many times myself. I hated when managers who knew nothing about what a trader feels or goes through...

I was the manager for a few big prop firms and now trade for myself. here is the deal.... now days, most prop firms ask you to put up 5-10k of your own money..they then back you for BP upto and exceeding max leverage amounts. If you trade and the commisions you generate cover their costs and...

Carnegie-Mellon, wow Funky, I am impressed! How did you survive Pittsburg! I have been a trader for the past 10 years, managing many larger firms along the way and testing many methods and even more execution systems, from Black Boxes, grey Boxes, darts etc., and to tell ya the truth, the...