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My point was that making money as a discretionary day trader in equities is remarkably difficult. It can be done, but you need to be very selective how you trade... from your earlier posts you weren't doing the right things imo (trading indexes and random stocks that weren't in play). Also to...

The job is a grind. It will become painful when after so many hours, days, months your P/L will seem totally random or even worse. Your only true edge in discretionary equities trading is playing the right stocks. The stock market is too efficient to be traded in the short-term but at least your...

I'm not trying to attack your company, it is what it is. I'm just trying to give him some information and advice especially because he has another thread where he mentions he wants to join a firm with little/no deposit... he's also aware of the small % of success rates. Just to elaborate on...

Brokers require deposits... unfortunately many of them call themselves prop firms. Google First NY Securities and peer companies in NY. There are a lot of good options trading firms in Chicago too. You will need strong quantitative skills because discretionary equities trading is too...

This is simply not true. Look up a firm such as First NY Securities. Even at IBs there still remain prop traders that are not fully automated. If you were to work as a trader/portfolio manager for a hedge fund you'd essentially be a "prop trader" with possibly a longer-term horizon. Look up...

Respectable prop firms don't ask for a deposit. Idk if these exist in Canada but they do so in NY and throughout the US. I used to trade prop at a firm where I even received a small draw to cover monthly expenses (PM me for info). If you're depositing money your likely just opening up a super...

Baggerlord, If it makes you money then so be. Everyone has their niche. i just personally don't know of any consistently profitable traders who make money off TA, especially the more esoteric strategies. If you're ever bored go into Excel and write an easy program that will create a random...

Gold and the Swiss Franc have rallied substantially so you'd be chasing, and based on historical measures, your buying too high for the long-term... reversion to the mean regardless how bleak the fundamentals look. The only way this would be a safe buy is if there is a international economic...

Do I qualify for the ban too?

zerohedge lol. My favorite doomsday, the world is going to end blog for the past half decade. Good job on selecting the charts that make the US look bad and ignoring the ones that rank us highly.... no confirmation bias there.

I think it is possible that a regulation will require all prop traders to obtain their Series 56 beginning in September of 2011. http://complianceinsights.typepad.com/rule_news/2011/02/traders-market-makers-the-series-56-exam.html 90% of prop firms are nothing more than brokers that provide...

It's a good firm because: - You don't have to deposit any capital. - You receive a small monthly draw to help pay for some living expenses. - You are encouraged to put on size. - Great Buckhead location in a very nice office building. The downside is that equities prop trading is a very...

Good luck to all... Your P/L will be the judge to whether Al Brooks' methods work. I personally think his setups are too frequent and your trading too much noise. His advice is way too subjective. Read his stuff and follow his strategies but please don't credit him for a winning trade, and...

Al Brooks and his technical analysis nonsense is ridiculous. I don't know how his book has decent Amazon.com reviews. Seriously his techniques are so confusing so that their isn't any real strategy... just churning your account for penny moves.

This is good advice. Don't trade for small moves... you're churning your account. Stop trading the IWM or any other index ETF. Trading the Russells or any leading indicator is usually a losing strategy. You have little edge trading the market, especially without much experience. Lastly...

Math is important in both although I have a friend who trades municipal bonds and he majored in public policy at a liberal arts college. All he does is execution trading and his firm is on the sell-side. I know someone who also trades munis at PIMCO, trades spreads (they don't really exist in...

If you want a trader job then core should be: - Mathematics - Computer Programming (Java, C++) Secondly (know something about): - Economics Lastly: - Geology (for oil) For fun: - Psychology (or decision sciences) The best way to answer this question is to find a job you...

I quickly skimmed part of this thread. Here's some friendly advice: 1) Your stop-loss is way too tight!!! 6 cents on the SPYs lol? Go after bigger moves. 2) Stop trading ETFs (e.g. IWM, SPYs, QQQQ, etc. or even commodity ETFs. You have little edge trading those. 3) Go to finviz.com and...

The firms he listed don't take contributions from the majority of their traders. They also pay a salary if you don't meet a monthly P/L goal

If you're foreign but obtained American citizenship then yes. If you seek to get sponsorship for a work visa then the odds of getting hired decline dramatically. Very few firms will consider you, especially considering the high pool of domestic candidates. If you pursue the "leveraged...