How to work towards going full time
- Thread starter John9999
- Start date
Now I see what they meant. The whole point of trading full time is that you have the capital, you have the lifestyle, you have the fintech, you have the strategy, and they all fit together perfectly, any disturbance and you will lose funds.
Given that, it is rare for anyone to find a combination that works, and even rarer that they can maintain it. So they sell services or products to budding traders for their own income, obscuring the fact 99% or more fail, that is what most here would do and assume everyone else does, as evidenced by the replies.
What they don't understand, the prop trading is just a paid job interview, Tesseract was designed to run funds. Currently deployed in $5mn AUM, $50mn, and pre-launch $500mn, 50 investors each fund on a 4&40 model. Targeting net 100% client returns and net 100% fund fees, each split across five timeframe based sub-funds.
From those fund fees 20% are allocated to the fund manager and support staff, so on a $5mn fund a manager grosses around $500k income. The point of prop was simple, apparently something like 120cvs flooded in for a single prop role.
Instead of spending time working out who had the skills, those candidates could trade using the same fintech and strategy as the funds to prove themselves. It was mentioned by Bir, one of the original strategists who I understand is now running a $50mn hybrid Tesseract crypto/forex fund, that they had some fun on this site, thought I would give it a shot.
I see the confusion, we have access to a closed collaboration tool, Atlassian the same that Nasa uses, to post trade ideas and shoot the breeze with others using the architecture, that's where the "retirement trade" comes from. It's interesting to compare this site with that, here almost all are looking at daily income trading, over there almost all are looking at high value capital trading supplemented with income trades.
Right, I have things to go and do, been a blast.
Given that, it is rare for anyone to find a combination that works, and even rarer that they can maintain it. So they sell services or products to budding traders for their own income, obscuring the fact 99% or more fail, that is what most here would do and assume everyone else does, as evidenced by the replies.
What they don't understand, the prop trading is just a paid job interview, Tesseract was designed to run funds. Currently deployed in $5mn AUM, $50mn, and pre-launch $500mn, 50 investors each fund on a 4&40 model. Targeting net 100% client returns and net 100% fund fees, each split across five timeframe based sub-funds.
From those fund fees 20% are allocated to the fund manager and support staff, so on a $5mn fund a manager grosses around $500k income. The point of prop was simple, apparently something like 120cvs flooded in for a single prop role.
Instead of spending time working out who had the skills, those candidates could trade using the same fintech and strategy as the funds to prove themselves. It was mentioned by Bir, one of the original strategists who I understand is now running a $50mn hybrid Tesseract crypto/forex fund, that they had some fun on this site, thought I would give it a shot.
I see the confusion, we have access to a closed collaboration tool, Atlassian the same that Nasa uses, to post trade ideas and shoot the breeze with others using the architecture, that's where the "retirement trade" comes from. It's interesting to compare this site with that, here almost all are looking at daily income trading, over there almost all are looking at high value capital trading supplemented with income trades.
Right, I have things to go and do, been a blast.
Bye byes, and take care da door don't whack you on the way out.
I have never heard of Ichimoku charts so I asked Dr. Google.
Looked very complicated, just like what TDMA showed. Don't know if they will be helpful but I am going to study them over the weekend.
Thanks for pointing that out to me.
Regards,
From this post I can see you are not a full time trader trading your own funds. You don't understand us, the risks we faced and the rewards we reaped.
There are always exceptions.
I agree Ironchef. In fact, I would posit that is perhaps the biggest driving force behind these equities markets these days - the pervasive, contagious and invisible fear that our society is soaked in.
We are a bike helmet society.
Forty years go, we would hitch hike across the continent on a whim. Things were perhaps less-safe then than they are today.
Even t the highest levels ("The President's number one priority is to keep Americans Safe!") we see this "Safety above all else!" mentality.
Now we've reached, in recent years, this perfect storm of all this money pumped in, liabilities galore out there that MUST get an above-market return, and nowhere to find it other than to assume risk -- in a very risk averse society.
Fear is contagious and it sells. When everyone is afraid, no one realizes how afraid they are. No one is going to get what they want in life by being conservative.