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I've been a prop trader for about 10 years and things have changed so much. I am based in London so can't speak for America but am sure its not too dissimilar. From lots of boutique firms investing in training up grads and doing tons of volume to a consolidation into a few big firms that are...

I'd have to ask him but I would have thought around $10k

Hi all, I am actually asking on behalf of a friend. I clear through a prop firm so get margin breaks on calendar spreads. But a friend of mine is looking to set up a private trading account and he has told me that all the brokers he has spoken to, AMP, Deep Discount, Velocity all charge...

I can assure you big funds etc DO trade in the first 30 minutes and the last 30 minutes. Personally I would say most of my money comes in these periods. But not everybody is the same. Analysing your trades and figuring out what time periods you make your money and eliminating the losing periods...

I can see there are huge cracks buried deep down in the economic system from government intervention in the markets... particularly since "The Crisis". I and many other people predicted at the time that we would have zombie companies propped up by bailouts that should have failed, that we will...

I consider myself pretty pragmatic. I make decisions based on evidence even if they don't sit comfortably with my own personal opinions. But with the EU in/out I really have no idea how anyone can make a calculated choice. There is so much guff coming from both sides of the argument. There are...

Algos make trading easier if you know how to trade them. I've made most of my money since volatility has dropped out of the market from trading off the back of algos. As for comments like "algos stop markets trending"... here's an idea... trade mean reversion strategies!! Also they don't stop...

There is no easy answer. It depends on where your edge is. You must have an edge. Without an edge all markets are hard. But i've traded at professional firms for about 10 years so some observations.. If you are day trading, then spot FX is a losers game, the spread will kill you. Ive worked...

Hi Moonmist, I will glance at charts to get a feel for where turning points "may" occur, but pay very little attention to them. The majority outright trades (as opposed to spread trades which I also do a lot of) are based on the DOM

I almost exclusively use order flow trading as a professional prop trader. If you have any questions feel free to PM me

I was told from the lawyer that wrote my prop trading contract that the non compete clause wasn't worth the paper it was written on! You can't stop someone from having a right to earn money and a lot of non compete clauses do seriously restrict. If you left a firm due to gross misconduct you...

I worked at the same company as this guy... although not at the same time. But know plenty of his friends. I have also been a prop trader for 10 years so feel I can talk with some authority on this. Firstly spoofing happens all day every day in every market. Why people have such an issue with...

Well I can only base my evidence on what I have have experienced seen. But I have been a proprietary trader trading futures contracts intra day as my sole source of income for nearly 10 years. I've worked with dozens, if not hundreds of other guys doing the same. Ive gone 20 day stretches...

Very true. I'm a prop trader so don't have to worry about bonuses as such as its clear what percentage I get of my profits. But there was one time a guy got caught in a fast move and was collected on a load of orders. He was printing down a couple of million and the market went into auction...

Hey, yeah thats right, some people take crazy risks, break every rule in the book and still come out making huge money. I don't know how they sleep at night. Id be lying if I said I didn't get a little jealous sometimes when the guy next to me has averaged his backside off and made 4000 off...

Odd Trader, I agree with your exerpt

For those of you following None Business's interesting discussion there is similar behaviour in the Dax. I don't really class it as spoofing in the conventional sense. But i've traded it slightly differently. I call it looking for "blips". You're looking for areas where there is likely to be a...

Hey there, no problem you can email me at tomgriff1@hotmail.co.uk

If what you say is true "None Business" then just goes to show how closely aligned the HFT and exchanges are. I remember once I didn't have the setting on TT switched on which stops you from trading with yourself. I must have accidentally done one trade with myself and had risk managers on me...

Nice link TraDaTor but as I mentioned previously, I don't see why it is such a terrible practice that needs to be outlawed. Spoofing is a replicable pattern in the markets I and many other people make money from. If people fall for it then adapt and survive. If you are a spoofer yourself (and I...