My Experience at a Prop Firm
- Thread starter pineman
- Start date
i thought you were on ignore.
it's the recent discovery watching forex and how the stock markets are developing identifiably obvious computer trading patterns, especially in the early and late hours of the day.
spot forex being the topic. i've read and heard that it's got the highest failure rate, but again, it's all technical. it's not that difficult if you understand what the matrix is showing you.
i see the girl in the red dress because she's just so damn obvious. everyone else sees green.
the "triangle" formation is popping up everywhere as well, where you can literally set your stops to mimic whomever is out there running these things. they must be big fish, or all the fish are swimming in the same direction, their ai detecting the movements and turning to follow.
i've set my own automated trading by it, using a whole series of cascading buyins and exit stops, cutting pieces out of a stock literally all day without touching the keyboard to interrupt it because the patterns are so consistent.
RTP a few months ago was incredible, every day the same gap up, sideways to close until it reached a set point and then a clawback.
i could name a dozen others but i can't be giving away all my secrets. most third tier props aren't going to teach the 5% of "losers" how to make money doing that, when really it's just a simple scripting execution program.
IT driven can mean many things. at the simplest level, i program my 7 button mouse to do a variety of functions otherwise function keys. where most guys are slumped over their keyboards hitting it with carpal tunnel syndrome inducing rapidity, i'm sitting back letting the mouse do the work.
combinations of clicks can set stops, lot sizes, price levels, change price increments, even just scalp 100 shares at a time .05 cents a click.
it's quite remarkable how easy it is to make money in the markets now that they've become automated and computerised.
i don't think needing a harvard mba or 5 years of profitable numbers is required to break into tier 1. i could probably sit for a month trading 100K and make my salary for the first year of my contract within a few weeks. it's not brain surgery.
thanks for the great post. about time someone said something intelligent besides me.
cheers.
rb.
translation:
props suck.
Has anyone ever been fired from a commission only prop for not trading enough? I guess fired isn't the correct term at all, since it is more like a broker.. From what I read, a lot of badgering goes on if someone wants to looks for better setups and not churn. I would like the leverage at this point, but I'm not going to scalp, and I wouldn't want my money pooled to support other's loses, or have anyone ever say I couldn't have it. Wondering if I would be shown the door.
Seam to be alot of these "fake" Prop shops out there which is really arcades/bucket shops. A real proprietary trading firm you do not have to bring a single cent of your own money, you trade with the firms own money, other peoples money. They fund you more as you show your worth.
Some require you to trade the firms strategy, some let you trade your own style/method if you already have one.
Some require you to trade the firms strategy, some let you trade your own style/method if you already have one.
+1
Yes, prop means trading the firm's money (technically firm's revenues from other divisions).
If you put up your own money, you are most likely trading at an arcade... you trade your own cash on leverage. On some occassions actual prop firms ask for a initial contribution as a investment. If you get 100% payout then you are def trading at a arcade.
There is nothing wrong with arcades... Bright and Assent are very respectable and are good examples. But you are trading you own money in this shops... so its a leveraged retail account. Prop is where you trade the firm's cash.