A little higher now.
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Prop firm Monthly payout
- Thread starter MoneyMatthew
- Start date
A little higher now.
Yeah it is a tough game hitnrun. I'm going to get a day job again and save up more money to trade with and live off of. I should have saved up more for living expenses before I went to live trading. I highly regret buying a Lexus a few years ago..the monthly payment is damn near half my rent lol...I dont have any mouths to feed other than my own...
If someone starts out with a really low cost of living then they have a better chance of staying in the game. If you blow your account up then you are screwed no matter what your cost of living. I think the different levels are as follows...
1. Traders who blow up their account.
2. Break even traders.
3. Consistently Profitable traders.
I can write code and I am in the process of automating one of my trading systems. I'm automating without the use of an api for the trading platform. I'm literally writing code to click the mouse and press keys.
I will having it running in the background making a few bucks for me while I work a day job.
Autohotkey is a great set of free tools that is helping me to do this.
If someone starts out with a really low cost of living then they have a better chance of staying in the game. If you blow your account up then you are screwed no matter what your cost of living. I think the different levels are as follows...
1. Traders who blow up their account.
2. Break even traders.
3. Consistently Profitable traders.
I can write code and I am in the process of automating one of my trading systems. I'm automating without the use of an api for the trading platform. I'm literally writing code to click the mouse and press keys.
I will having it running in the background making a few bucks for me while I work a day job.
Autohotkey is a great set of free tools that is helping me to do this.
Quote from hitnrun:
Don ,
that is a big change especially for bright trading after all these years
times are tough, i guess you have to weed out the ameteurs
With a dead market , that will harm your ability to recruit traders
As I said in my PM with you. The days of simply pounding on a keyboard scalping pennies are gone, at least for most traders. Traders need to keep positions longer, hedge more, and adapt to the markets now (more than ever). As with all business ventures, the primary reason for failure is lack of capital. We may "recruit" fewer traders, but we will "retain" them much longer when they have the capital to trade what is working currently. Heck, even our "Opening only" guys are putting in orders on 100-300 stocks each day, and getting filled - so a few more bucks from your "right pocket to your left pocket" will allow you a much better chance for success.
However, I have waived this requirement for many this year, because I understand that you guys have been working to save the $$ to get started. Just call me, as I said.
All the best,
Don
Quote from Don Bright:
As I said in my PM with you. The days of simply pounding on a keyboard scalping pennies are gone, at least for most traders. Traders need to keep positions longer, hedge more, and adapt to the markets now (more than ever). As with all business ventures, the primary reason for failure is lack of capital. We may "recruit" fewer traders, but we will "retain" them much longer when they have the capital to trade what is working currently. Heck, even our "Opening only" guys are putting in orders on 100-300 stocks each day, and getting filled - so a few more bucks from your "right pocket to your left pocket" will allow you a much better chance for success.
However, I have waived this requirement for many this year, because I understand that you guys have been working to save the $$ to get started. Just call me, as I said.
All the best,
Don
Don,
Do prop firms support option-writers?