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Are you going to make a trading floor and go with a prop firm? If that is the case, you do not need a license, the prop firm has one. If you are going to attract other people in to it, with your trading floor and come out as a solution to trade, then you do need a license.

What do you want to know?

Ok, I know by experience that you do not need to backtest or even do Monte Carlo simulations if you know your stuff. Then 100 trades are enough to make some calculation what you can expect. If you are at that level, I would only suggest that you track past trades and use position size that lets...

If you have only the outcome of 100 trades, you can not find the best way to project future drawdowns/returns. You need other information like, what kind of system is used, what is the market doing at the time those trades are made, who traded the system, and so on. Only go to Monte Carlo...

What is False AF?

This question has no easy answer because probability calculations are always based on past data. If you take one part of that data and change it, by duration or weight, you get different results. The longer the timeframe of calculation, the fewer influences it has because it gets broader with...

You are making assumptions and are projecting your own experiences as truth. As long you do that, your mind is closed. Let's respect OP thread and stay on topic.

It is not only the education that determines if a student will make a lot of money or not. There are many, many other factors that contribute to making a lot or not. Your start capital, your time, your attitude, your willingness to learn and adapt, your objectives, and so on, are all factors I...

I come in contact with a lot of traders that are profitable and most traders are not making a lot of money. That is a myth. There are superstars, but the majority of profitable traders are between $5000 and $150000 a year. I can count on one hand the traders I personal know that make above...

Couldn't agree more.

Yeah, and if I shared my track record, the next thing is that it is false. Been there, done that. I trade real-time in front of their eyes. Nothing is more real then that.

They would starve all to death with the money I ask for it...

Op shows a typical example of looking at the wrong things. High intelligence, analytical and constant looking at trading as a technology that has to be beaten to have an edge. I know a lot of traders spending years and years on this loop. Repeating the same mistake over and over again getting...

Don't get me started about the importance of psychology. It's not 3rd by the way, it is the most and number 1 priority in any trading endeavor. Every decision you make and every design in your trading comes from how you feel, think, and be. It is all psychology. Performance pressure is a self...

You are right. Win rate is over rated. If you know that you know what works, you need a mind set that understand how luck and skills are two separate things. If you know the difference, then you can let go of your personal win rate and just focus on your skills. A good book is thinking in bets...

Put a fine in it, if he does not deliver as promised, he pays you an x amount. There are a lot of coders looking for a trading system because they can not figured it out on their own.

I do not think there is a way to sell a discretionary system, besides given seminars or writing a book about it. Most vendors sell automated black boxes or they sell their algorithm logic. Also discretionary system is usually part art and part science. It is hard to transfer.

If you want to stand out of the crowd, you could explain that every chart pattern is a picture of past behavior and that the behavior of traders at the moment of forming the pattern will make or break the trade.

I also only trade the open. I need volatility to make money. I try to catch the turn of the opening session for a 2 to 1 risk or for a 5 to 1, depending if the turn is in the direction of the trend of the previous day(s). I use MP for determine the turn points. I use delta to see if it turns on...