Never heard of such a trading rule. Perhaps you attained it from your extensive trading experience ?
Getting Hired At A Prop Firm
- Thread starter Fundlord
- Start date
Never heard of such a trading rule. Perhaps you attained it from your extensive trading experience ?
Fairly sure, $1000 per pip is always going to be scarey regardless of account size.
No I get you, slippage, your order broken possibly into multiple orders, meaning you have to manually change the SL say 6x's or maybe more which takes time in a fast moving market, exit's okay normally a close all function but still they'll close out when available orders are there to take them.
I'm not gunning for a $1Mil account, enough to trade enough of a lot size to make a damn good living off, $3000 would give me a better life style than I have currently, $5000 would be awesome and $10,000 if only occasionally would be awesome plain and simple.
Trying to go part time currently, so restrict business to 2 days per week, 3 days trading see how that goes for a while, rather than occasional when free trading and losing the plot due to weeks off.
You are extremely far from that level. Why should it be a concern ?
Im saying the only reason I have been able to double my account on a few occasions is because liquidity is not an issue when you asked if I'm BSing I wanted you to know that my gains are not unreasonable because I'm working with a small account.
Obviously if was doubling 10 million it would raise the BS meter.
I've ignored ExperiencedJoe, so if that was at me, I have no issue with all at that, been there done that
I suggest clicking on his name, then hitting ignore
Or go around in circles with him, for ever more!
The BS meter rings as soon as someone claims to be able to double his money in a short period of time. It is possible but quite rare. The reason is that it either takes too great a risk, in that case t it's not a stable trading strategy, or it's luck, in that case not repeatable. If you take such great risks or rely on luck, you will never reach the point where liquidity becomes an issue because you would have lost your shirt long before that.
10 million and impact the liquidity in currency trading? Not a chance.
I am confused. Why are we talking about 10 million ? Who's got 10 million ?
If we are talking about someone else's money then why only talk about 10 million ? The FED's got trillions because they could print it whenever they need it. Imagine putting a few tril's down for a 10 pip move ? You could retired in 5 seconds flat and make warren buffett look like a wealthfare case.
To the OP if you really want to go the prop shop route use your results so far to try and get you on a trainee program at a prop firm.
Great to see you are making progress but seriously do not deposit money at a prop firm unless you know you can trade month in month out for years. I have seen so many people turn up at my company thinking they can trade because they made a few thousand trading forex. They put all their hard earned cash down and start trading professionally (i dont know about America I assume thats where you are from but in Europe very few firms trade Forex it is all futures I could list the many reasons why) and within 6 months theyve lost all their money.
10 grand in the real world is something you can do something with. Trading professionally 10k can be wiped out in months especially when you start having to pay desk fees. Plus to be honest the firms I trade at usually require at least £20k of your own money to let you have a desk.
Great to see you are making progress but seriously do not deposit money at a prop firm unless you know you can trade month in month out for years. I have seen so many people turn up at my company thinking they can trade because they made a few thousand trading forex. They put all their hard earned cash down and start trading professionally (i dont know about America I assume thats where you are from but in Europe very few firms trade Forex it is all futures I could list the many reasons why) and within 6 months theyve lost all their money.
10 grand in the real world is something you can do something with. Trading professionally 10k can be wiped out in months especially when you start having to pay desk fees. Plus to be honest the firms I trade at usually require at least £20k of your own money to let you have a desk.
Im actually in Europe the only reason I trade forex is because I was getting killed trading stocks with a thousand euro paying 24 euro round trip on CFDS I was profitable before fees if I scaled up my operation I would have been doing very well.
I plan on getting back into stocks when I have more capital.
I started trading gold futures and I am having great success with it.