Advice for newly hired FX prop trader

T

traderInTraining

Hey all,

I'll be starting as a FX trader at a good firm in August of this year directly out of college and was wondering if anyone could give me some advice before my start date? This includes books to read, websites to follow, things to practice, and any good advice that will help me succeed. A little background on myself: I have experience trading my own account and have a profitable strategy, but am still pretty new to the game (less than a year of trading currencies and studying the currency markets). Any help from professional currency traders on here would be much appreciated.

Best,
traderInTraining
 
wiesman02 said:
Why are you going to a prop firm to trade forex ? Forex gives u plenty of leverage without a prop firms help
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I am a newly graduated college student with basically no capital to invest and a lot of loans to be paid. I applied to some of the top firms in Chicago, and got hired by one that is giving me a great starting salary with a good profit split. Also, I'm not required to contribute any capital. So, to answer your question, I'll be trading at a prop firm because of the solid base salary and the large amount of capital that I'll be able to trade with.
 
traderInTraining said:
Hey all,

I'll be starting as a FX trader at a good firm in August of this year directly out of college and was wondering if anyone could give me some advice before my start date? This includes books to read, websites to follow, things to practice, and any good advice that will help me succeed. A little background on myself: I have experience trading my own account and have a profitable strategy, but am still pretty new to the game (less than a year of trading currencies and studying the currency markets). Any help from professional currency traders on here would be much appreciated.

Best,
traderInTraining
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You have already outclassed most of us here. Seems to me you dont need advice from a message board. You should talk to your head trader or managing director of your desk about the winners who came before and what distinct personality traits they exhibited. As you want to emulate them.

My crappy opine? see below...

Keep losers tight..let winner run and watch your 6 oclock as the FX mkt has claws that dig deep when they decide to strike.

good luck kid!
 
Crispy said:
You have already outclassed most of us here. Seems to me you dont need advice from a message board. You should talk to your head trader or managing director of your desk about the winners who came before and what distinct personality traits they exhibited. As you want to emulate them.

My crappy opine? see below...

Keep losers tight..let winner run and watch your 6 oclock as the FX mkt has claws that dig deep when they decide to strike.

good luck kid!
More...

Thanks Crispy! I appreciate your kind words. I'll take your advice about emulating the successful traders at the firm. Good luck to you as well!
 
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