They are never going to make 6k in p&l. But they will definitely lose that much. Probably multiples of that. There will be no "risk free proposition" I assure you.
Mav's Combine Proposition
- Thread starter Maverick74
- Start date
They are never going to make 6k in p&l. But they will definitely lose that much. Probably multiples of that. There will be no "risk free proposition" I assure you.
Not at all. Trade as often or as little as you like. But if you can't maintain low drawdowns, then u shouldn't be trading anyones money but ur own. Big drawdowns means your strategy sucks. You are a gambler, nothing more.
Learn to be patient and wait for a low risk entry. Ur probably the type of clown who'll buy that breakout of the 200 day and then sit thru all types of fib retracements only to eke out a small gain. Your r/r is upside down, and methods are poor.
Next.
Maverick my instant reaction to your post is that it was a joke and you were looking to see if people would still say it isn't good enough. I think the backer would lose a whole lot of money under those terms. But if you are still hiring in 10 years when I get out of the military, I'll be showing up at your office ready to sign. 
That is completely false, and while common "wisdom" on ET, it is nonetheless incredibly destructive advice.
I think your proposal is more than fair. You sent up a process to back traders that are serious and want to work hard with firm money. They pay for training, but get the money back if they work hard and listen to your training.
In my opinion, the deposit prop model is going to disappear. Prime Brokers no longer want to enable JBO relationships, because they are no longer profitable. Since 2010, many of these firms have closed. Your type of set up would be great for the industry and young hungry traders looking to be profitable for a lifetime, not two weeks.
Teaching them to run a trading business is a gift, that can start a long career.
Good luck.... 1245
In my opinion, the deposit prop model is going to disappear. Prime Brokers no longer want to enable JBO relationships, because they are no longer profitable. Since 2010, many of these firms have closed. Your type of set up would be great for the industry and young hungry traders looking to be profitable for a lifetime, not two weeks.
Teaching them to run a trading business is a gift, that can start a long career.
Good luck.... 1245
HILOJACK
great post on the reality on how things really work
maybe you could share with us of what a typical deal is that you would offer to
someone that has passed all your requirements & would be trading the es contract
A ball park idea of what would be offered
Are they usually trading for ticks or is that up to there own discretion ?
max number of contracts allowed to trade intra-day ?
max dollar loss per day allowed ?
the r/t all in commission ?
the profit payout %
thanks
great post on the reality on how things really work
maybe you could share with us of what a typical deal is that you would offer to
someone that has passed all your requirements & would be trading the es contract
A ball park idea of what would be offered
Are they usually trading for ticks or is that up to there own discretion ?
max number of contracts allowed to trade intra-day ?
max dollar loss per day allowed ?
the r/t all in commission ?
the profit payout %
thanks
Which is why a profitable live track record is always more important than any imaginary trading in a combine
If I am backing someone, I want to see how they performed with their own real money on the line before I even think about letting them trade mine.
you can do anything you believe you can do... having your hand held will only cause you to require hand holding... developing your own sense of intuition and dealings with pressure under fire is something YOU have to figure out.. start small.. small enough to where it still pangs but where you can afford to take some losses for a while... if you think your a loser and can't trade... your already blown up! believe it or not the future is of your own projections more then you know.. just my thoughts
i don't know much about this business you guys are talking about... but some event in CT i would definitely like to attend... the deal is to me every trader is like kinda like a option with his or own set of unique greeks... and by greek i mean fucking greek.. everyone has their own querks.. i can't imagine having a prop desk.. the junkies.. gamblers.. and straight up die harders that are just subborn and set in their losing ways .. constantly hoping and looking for salvation through their next trade... i can't imagine trying to train a bunch of monkeys like that..
i've heard guys like Soros finding guys to partner up wiht.. that more like scouting... the 1500 or 3 k thing sounds more like a trade mill to me.. meaning your trying to go through a bunch of randoms and getting paid some nominal amount for the risk your taking in even dealing with the random monkeys..
most guys with no conscience that operate like machines look for free call options... like CEO's all upside and you don't have to come to the table with your check book when you blow up the company...
i currently just like to talk on ET and hopefully make friends.. one day i hope to trade at a desk, unless i come into a decent size sum to trade my own position on..