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I only said that because he said he's been at this for three weeks. To me, the biggest thing an intro trader can do to help themselves is to NOT lose money right off the bat. I'd rather see someone 50 small losers in a row than a bunch of winners at the start. Again, that's just me...

sorry, I only have a second but I wanted to clarify something. I didn't mean factor in the market direction to your trades, I meant consider what's going to happen in a down/sideways market. You may want to make it more robust by adding a shorting system, or something similar like that...

Just to be sure... I'm not really the "call you're kid fat, and he'll end up fat" kinda guy, but I do think that at times our language can give indicators into our thinking. When you were trading this system in sim, were you looking at the same data sources? ie news channels, oil prices...

I think your system is a good start, but needs to be evolved over time. The volatility is a great suggestion, as %4 in one stock can mean something completely different in another stock. Also, start to think about market direction. This system might work well in a strong bull market, but...

Before I answer, let me state that I think it totally depends on your system. The one I'm currently using is sorta based on volatility, so *generally* I try to be flat going in to a fed meeting, and look to put a position on in the resulting chaos. Generally tho, I think backtesting or sim...

%247 in half a year is certainly not unrealistic for a good, professional trader, imho. -The New Guy

Two things to mention, hopefully they will help a bit. The first I'm surprised no one has mentioned yet... When you develop a system, then only take certain signals from that system, then you are effectively changing your system's "edge". Because the market has the magic ability to make...

Hahaha, that's understandable in my books, the guy can come off as a lunatic. The thing is, he may be a little flamboyant, but he's also razor sharp and very well connected. All those crazy comments had a purpose tho, if you ask me, even if he was somewhat incoherently delivering them...

It might also help if you described what trades blew out your account, if you feel comfortable that is. Be warned tho, you're gonna get a lot of negativity from the bashers out there.... but you'll probably get some great advice hidden in the middle too... -The New Guy

Yeah, i agree, the thing moves during the day... Calls sound like a good plan, but I'm a little concerned that the shorts may have a major round of success before anything happens. They are still piling the shorts on (according to yahoo's latest data) and i have a rule that bigger money than...

Honestly, I would keep your job and figure out a way to trade while working full time. Try changing to nights, try shifts, or starting late... anything to let you trade a bit during the day. Even if it's only the open or something... I'd exhaust this avenue long before I looked to prop...

Darn, sorry, I guess I killed your thread.... fwiw i think they'll raise and the market will go up a bit. In my mind there's no question that they'll raise, just how the market will react.... but my mind may not be worth too much.... :D -The New Guy

Flytiger you seem pretty close to this case. what's your take on it? Are you playing it, and if so, do you mind if i ask how? Thanks, -The New Guy

Sorry, I don't, but the title of this thread sure caught my attention! ;) -The New Guy

They should have these things at 8:30... just when i'm getting to work... hehehehe

I dunno, but does anyone else hate the pre-fed market as much as I do? I should have slept in today...

It still takes a strategy, albiet even if it's a long only strategy at a very lucky time. I agree about risk management tho, I don't believe it's something you can truly teach/tell someone (well, MOST of the time), but it's definately something you can learn the hard way.... -The New Guy

I'm going to offer my 2 cents, although I have a feeling some people are going to strongly disagree with me.... From what you've said I would honestly say don't worry about a prop firm. The few that I've worked at taught people to be mediocre traders at best, and one of them seriously ripped...

Sorry to be so late to the party, but I thought I'd offer my opinion.... I've worked in IT for a bunch of different prop firms, and in all sorts of areas of finance. I feel it totally depends on your trading style. The traders I most recently worked with were developing a black box system...

Great idea Babak! Here's my submission. I think anyone new to trading should read this thread and all the supplied material. It is a mountain of material, but the insight to building a trading system is invaluable. Spydertraders discipline is phenomenal too, imho...