Curious About what they teach you at prop firms
- Thread starter ChrisMMM
- Start date
much more edge exists in stocks than FX or futures for non institutional, non informational based trades.
bright is doing the right thing. if its the best thing, thats up to you to decide. maybe he'll bring you on as a programer/quant/trader combo. trade your skills for access--sounds like a good trade to me. you should ask him.
surf
No, I dont' feel they are worthless. If you find a friendly one with a bunch of good people to trade with everyday(if you trade at the prop firm instead of at home), then it could be a learning experience for traders "brand new" to trading.
But If you already know about trading, then I don't recommend you sign up with a prop firm. Unless are you going to trade their money only and not yours, then I would sign up. But those are hard to find anymore(I hear).
You sound like you know about trading because you said "people should just trade futures or forex if they have little capital instead of going prop".
My opinion is that you probably would be unhappy with a prop firm. It would just be another broker to you. They won't help you trade better. They are too busy trading their own money.
Best to trade smart and not trade greedy. I think you already know the answer though. Emini Futures is the answer. My opinion.
Quote from ksonsinc:
hey don
Are there any classes where you,ll can do training for a week ( intense training pair trading opening order,s etc
and is ther any disount if a person plans to open an account with you,ll with 10 KRemote
10k isn't alot of money for daytrading stocks. You need 25K per the SEC laws. Why should he give you a discount for 10K? You should pay him more commission if he lets you trade with only 10K in your account.
imo prop shop training is not worth anything at all.
they might tell you the general principles of trading and product information but they will generally pull a few selected charts of various outright charts or spread charts and say something along the lines of ' well if you had bought the spread there and been patient you would have made a couple of ticks' or the level here held obviously and you would have made a tick.
i find that the people doing the training are generally floor traders aged 35 to 45 or market experienced traders who cannot profitably trade electronic markets.
therefore their experience is useless.
fact (1) these markets are hard for experienced guys to make money. there fore even harder for new guys to make money.
fact (2) lack of resources and capital means most prop shops cannot even remotely compete with proper trading outfits.
fact (3) speed issues will only get worse for prop shops/arcades due to small resources and lack of any real it budget.
and in this game speed is paramount.
summary: i am nearly 40 years old and have traded these markets at floor level and electronically profitably.
my advice to anyone trying to get into prop shops is do not bother. spend more time and receive less wages from a proper outfit with a longer career strategy.
School is open to the public...and, after deciding to join the Firm, boot camp is offered after licensing, etc. Since you need to be actually trading, boot camp is for Btraders only. We currently do both 4 times per year. April 9th is next school, followed by bootcamp starting the 16th.
Don
No, and this is why...things change too rapidly, and we have to constantly "tweak" or training, so we keep it real time.
Regarding the "losing effectiveness" of the training...most of what we do simply cannot be done by retail traders, for a couple of reasons, primarily capital usage...so, no, we don't dillute the markets that I can see.
Don