hmm.no edges in the markets
- Thread starter chimera
- Start date
That is a valid point. A good trader could decide to go solo, and keep all the profits for themselves, or get a better backing deal somewhere else. Still would be nice to have an idea how guys (and gals) are doing though.
Something like this would be nice. Last I knew, Velocity have an anonymous leaderboard updated each day.
And how many throw a plan together, trade with minimal funds then get some decent funding and simply blow it as part of the learning process, retreat, and with what they have learned go on to build their own capital and become consistent high earners, how many get funding and become consistent and very very comftable exactly as they are, almost fearing working 100% solo and would rather stay at their current profit levels than up their game in an effort to make more.
There are so many variables, it would be nice to know but the one thing we know for sure is that the idea that theres only a handful of traders around who can cut it is laughable.
Most all success in the markets is counter intuitive. That's why these price action TA folks with their feel good charts make zero sense to my experience and knowledge of what really works. surf
My opinion is only based upon the prop traders I know. They said about 83% of them wash out within a year. I don't know if that's high or low for these particular prop firms but I do remember a trader documentary (London) that was very popular on TV via their ongoing episodes. At the end of the documentary, the owners retain 2 of the 14 traders. Others quit from the stress, blew up or just couldn't adhere to the firms trading rules.
Regardless, the average profitable prop traders that do make it are making much more profits than the average profitable retail traders for obvious reasons. For example, retail traders often trade without a trading plan, under-capitalized, lack proper equipment, lack of liquidity rebates, higher transaction fees, treat trading like a hobby, nobody looking over their shoulders to ensure they follow any designated money management system and they often do not have decent collaboration.
These reasons alone represents why retail traders wash out at a higher % rate than prop traders without any input from a trade method. Another way to look at it, most retail traders are losing prior to using their trade methods and prior to their first trade.
Further, don't believe those that lack integrity when they tell you that retail traders wash out higher because of their trade methods. Those folks running around ET doing such are just ignorant and intentionally post misinformation in their attacks.
The fact is that most retail traders have a poor business model in comparison to prop firm traders.
P.S. The profitable prop traders I know had been in prior profitable retail traders or had lost their job as a trader at an institutional firm.
Remember folks, good props teach edges inaccessible to retail. I did intra exchange option arbitrage with a prop firm. It was easy money, just swiping retail traders attempted trades before they even knew what hit them. Our speed advantage at the time was such that no one could compete in the option market. It was a beautiful thing.
As a counter to the guru post above .this one--- the most successful trader at my firm was a 22 year old ex female 2nd grade teacher with zero market experience . this is directly counter to the guru ---In addition, ask the real prop traders on this board about edge, I'm certain they will agree with me
surf
As a counter to the guru post above .this one--- the most successful trader at my firm was a 22 year old ex female 2nd grade teacher with zero market experience . this is directly counter to the guru ---In addition, ask the real prop traders on this board about edge, I'm certain they will agree with me
surf
I traded with a few prop firms in the last 15 years and my experience doesn't jive with what you're saying. You had a handful of people doing really well. Most were struggling and just hanging around and barely profitable trying to learn from the more succesful. Edges that are taught are no panacea. I definitely had my best years when I left prop and traded in a retail account.