LSE trading

How hard is it to get into a prop firm? The one I'm at doesn't require you to put up any capital. I traded for 4 years for a company and decided to join this prop firm to get a better split and have more size (although I did have to start with small size, which was hard enough to cover desk fees). I just showed them my track record and they decided to take me in. You just have to apply and see if they are taking anyone. Are you a newbie?

Well, for today,
Only traded Billiton, Rio and Xstrata. Just made 2.2K with 206 trades. Shouldve made more, but had a headache and couldn't stay focused. Went long all the miners in the morning as I could see a clear breakout. Xstrata lost me a bit of money. I thought it would break 40.00. FTSE was bearish but all the miners were bullish so it was a tricky day. I'm still long miners for the time being.
 
In terms of getting into a london prop, it depends what you are looking for.

if you are willing to put up capital, almost any of them will take you on. as Angel says, some will back you (no capital down) but these positions are slightly harder to get (altho, in many cases, still not that hard - just need good maths skills and a keen interest in the markets). some might even pay you a small salary against future earnings if they really believe in you.

as per the prop biz in the US, there is a shady and a more reputable side to the prop business. cost can be very high (desk fees, comms, profit splits). some places have a reputation for churning employees, but what's new?
 
Ok. You guys are giving me some more useful info here.
Any list of these UK prop shops out there? Licenses required? Remote trading available? I'd probably be interested in trading remote (either from US or Spain). As for capital contrubution, that's not a problem but I need to figure out where/how to get started. I've been trading US stocks for 10+ years. Looking for different angles.

Would appreciate your response to the above questions.

Thanks, and sorry that I've kind of hijacked your Journal with this series of questions.

'risk
 
Yeah - let's take it off thread - I'm happy to answer your questions if I can - feel free to PM me.

Angel - nice thread - I'll read with interest.

Cheers
 
I haven't gone to work today as I have a terrible headache and cold. I have to be 100% alert when I trade. Slept 13 hours last night :) but still coughing a lot.

About the prop shop I'm at, I haven't had to put up any capital. They backed me 100% and they even gave me a "salary" when I wasn't making enough (due to starting with small size). Now I've got decent size (300K). And they'll give me more as I make more money. At my last company I made money every single week but they wouldn't give me more size which was very frustrating.
If you show them your track record they should back you 100%.
 
Hello, I'm trading VOD BARC HSBA HBOS. I trade every day and I would like to discuss strategies with you guys. I hope to find some LSE traders interested in posting.
 
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