I come from the background of an experienced trader, with ridiculously good stats, that never really wanted to go the prop route. For some reason, in my mind ... all of these years "prop" meant going into a firm, and working at a "location" (other than my house). So I was content to teach, and just trade my accounts and build them up as I taught. Spent some time abroad, and never connected to that 'route' or 'sphere' of prop.
Ran into a guy that runs a couple of his own firms down South, who took a look at my numbers, and mentioned that I really should be trading outside capital. I mentioned the same objections. Didn't want to go to a location. Didn't want to do the 'go to a firm' thing. To which he said:
"Then with your numbers, you should be remote trading from home. But those numbers are so good, your potential is such you really should have outside capital"
To which I said
"Come again? Remote from huh?"
Remote trading changed everything in my mind. I guess what they say is true, Capital finds a way to make talent happy. His firm was derivatives, and I'm eqities (mainly), so he recommended a few firms that I should look into in the equities space.
Gotta say, the prop route is an interesting one. A couple of things are becoming clear in just the first couple of days
From the looks of things, I'm going to need to get my series 7 yes? Always resisted that idea for the longest time. Seemed like an unnecessary pain in the butt just trading my own capital. Still seems like a colossal pain in the butt, but I can at least see the rationale on the firms side. Still hate the idea though
The other thing I'm noticing, is some of the firms I've talked with are LASER focused on time-frame / periodicity. In that it seems so many are focused on daytrading. That is pretty much the case across the board? For example, myself, I have about 30 different methods I've developed, but two main approaches.
So I have, let's say, Approach A - and that is equities, but the holding period for some of the stuff in that account (which runs non-correlated strategies) maybe 8 months to 2 years. The returns are still great, risk-adjusted, despite market conditions. But it seems like no one wants that periodicity. Which is sorta weird in my mind. Seems to me like returns should just be ... returns.
Approach B - is options / equtieis / futures that is swing trading mainly, with a bit of day trading thrown in - and that seems to be confusing any prop firm I approach, and again, I keep returning to the aspect that so many of these firms seem to want one periodicity and one approach.
Are there any firms that will simply deal with a trader who can trade non-correlated strategies in the same account? I mean, I've found that despite the sphere and space - you run non-correlated, it tends to produce the best risk-adjusted returns. I don't care if it's Futures, FX or equities.
Ran into a guy that runs a couple of his own firms down South, who took a look at my numbers, and mentioned that I really should be trading outside capital. I mentioned the same objections. Didn't want to go to a location. Didn't want to do the 'go to a firm' thing. To which he said:
"Then with your numbers, you should be remote trading from home. But those numbers are so good, your potential is such you really should have outside capital"
To which I said
"Come again? Remote from huh?"
Remote trading changed everything in my mind. I guess what they say is true, Capital finds a way to make talent happy. His firm was derivatives, and I'm eqities (mainly), so he recommended a few firms that I should look into in the equities space.
Gotta say, the prop route is an interesting one. A couple of things are becoming clear in just the first couple of days
From the looks of things, I'm going to need to get my series 7 yes? Always resisted that idea for the longest time. Seemed like an unnecessary pain in the butt just trading my own capital. Still seems like a colossal pain in the butt, but I can at least see the rationale on the firms side. Still hate the idea though
The other thing I'm noticing, is some of the firms I've talked with are LASER focused on time-frame / periodicity. In that it seems so many are focused on daytrading. That is pretty much the case across the board? For example, myself, I have about 30 different methods I've developed, but two main approaches.
So I have, let's say, Approach A - and that is equities, but the holding period for some of the stuff in that account (which runs non-correlated strategies) maybe 8 months to 2 years. The returns are still great, risk-adjusted, despite market conditions. But it seems like no one wants that periodicity. Which is sorta weird in my mind. Seems to me like returns should just be ... returns.
Approach B - is options / equtieis / futures that is swing trading mainly, with a bit of day trading thrown in - and that seems to be confusing any prop firm I approach, and again, I keep returning to the aspect that so many of these firms seem to want one periodicity and one approach.
Are there any firms that will simply deal with a trader who can trade non-correlated strategies in the same account? I mean, I've found that despite the sphere and space - you run non-correlated, it tends to produce the best risk-adjusted returns. I don't care if it's Futures, FX or equities.
