Prop Firm near Austin Texas?

1badpug1 · Jan 13, 2014

Quote from mdl060374:

My advice is to him is to get a free platform (ie. ninjatrader) get a live data feed, and put in hours upon hours of screen time until he gets used to losing, learning in the process.. That was he can get a feel for what kind of strategy fits his personality, etc.. Then if he can become consitantly profitable, understand the psychology of winning on a sim vs winning with real $$ (which is something that is very often overlooked IMO) and make the adjustments.

Thanks for the advice. Just downloaded NT.

mdl060374 · Jan 13, 2014

Quote from 1badpug1:

Thanks for the advice. Just downloaded NT.

I would also suggest looking into bigmiketrading.com

Basic membership is free, you can pay for the "elite" section with a 1 time life time fee, but even the free section offers alot. (Alot of NT users there)

I know they get pegged as a go to place for free indicators (and they do have lot), but dont get caught up in the indicator game. Indicators arent bad per se, but alot of people get caught in the trap of of trying to rely on them.
I would use it for the journals you can find a wealth of knowledge there, and you dont have top wade through alot of the snarkiness and sarcasm, as it isnt tolerated there.

1badpug1 · Jan 14, 2014

Quote from mdl060374:

I would also suggest looking into bigmiketrading.com

Basic membership is free, you can pay for the "elite" section with a 1 time life time fee, but even the free section offers alot. (Alot of NT users there)

I know they get pegged as a go to place for free indicators (and they do have lot), but dont get caught up in the indicator game. Indicators arent bad per se, but alot of people get caught in the trap of of trying to rely on them.
I would use it for the journals you can find a wealth of knowledge there, and you dont have top wade through alot of the snarkiness and sarcasm, as it isnt tolerated there.

Right on. About to crack open the panda warrior chronicles.

atx512 · Jan 15, 2014

Still plenty of guys making money manually at Kershner.

Maverick74 · Jan 25, 2014

1badpug1 said:
Same exact thing happened with poker. There was a time when I could make $300k/year easily. That time is long past and the edges keep getting smaller. Now I have to work my ass of to make $100k/year but there's no telling how long that will last.

I definitely hear what you're saying about getting in early on the next big thing. Gonna start diverting a little more of my time to find what that is. Thanks a lot for the insight!

I see you are still looking at Tower Hill. Read this article over a few times. Then sleep on it. Then read it again a day later. Then spend the rest of your time formulating a plan that does NOT involve Tower Hill or some other equity prop shop bs and get into a real business.

http://www.bloomberg.com/news/2014-...asing-u-s-ngls-as-traders-cash-in-energy.html

This shit is no joke. I'm throwing you a real bone here. Do something with it.

dealmaker · Jan 26, 2014

Maverick74 said:
I see you are still looking at Tower Hill. Read this article over a few times. Then sleep on it. Then read it again a day later. Then spend the rest of your time formulating a plan that does NOT involve Tower Hill or some other equity prop shop bs and get into a real business.

http://www.bloomberg.com/news/2014-...asing-u-s-ngls-as-traders-cash-in-energy.html

This shit is no joke. I'm throwing you a real bone here. Do something with it.

Big firms ( hedge funds) like Glencore Xstrata are looking for the best of the best i.e. Ivy League, Stanford, Cal, Duke, Oxford, Cambridge graduates mostly with Phds in math, statistics, economics etc., those guys do not need to be told what to do, recruiters are chasing them...

dsch11 · Jan 26, 2014

Maverick74 said:
I see you are still looking at Tower Hill. Read this article over a few times. Then sleep on it. Then read it again a day later. Then spend the rest of your time formulating a plan that does NOT involve Tower Hill or some other equity prop shop bs and get into a real business.

http://www.bloomberg.com/news/2014-...asing-u-s-ngls-as-traders-cash-in-energy.html

This shit is no joke. I'm throwing you a real bone here. Do something with it.

When you talk about energy trading what type of trading are you talking about? Outright futures, directional, market making? Spreads, options? Why is it better than stocks? Im not a stock or a prop trader, just curious..

Maverick74 · Jan 26, 2014

dsch11 said:
When you talk about energy trading what type of trading are you talking about? Outright futures, directional, market making? Spreads, options? Why is it better than stocks? Im not a stock or a prop trader, just curious..

No, not outright futures. We are talking about the physical market and the financial paper market. I'm not going to go into all the details. Do some homework. All the information is out there. Put a little effort into it.

dsch11 · Jan 27, 2014

Maverick74 said:
No, not outright futures. We are talking about the physical market and the financial paper market. I'm not going to go into all the details. Do some homework. All the information is out there. Put a little effort into it.

So is it really trading in the "normal sense"? I only wanted to know why it was better than stocks for example. I'm. Not. From. The. Us. So. I'm not. Really. Interested.

Maverick74 · Jan 27, 2014

dsch11 said:
So is it really trading in the "normal sense"? I only wanted to know why it was better than stocks for example. I'm. Not. From. The. Us. So. I'm not. Really. Interested.

Actually depending on where you are, the future energy capital of the world will be in Asia, more specifically Singapore. It's also huge in Europe. But to answer your question, it IS real trading. In fact, it probably captures the true essence of trading more then any other product. It takes a complex structure and through buying and selling, identifies risk, transfers the risk and locates value for the overall market. It's a REAL market. There are REAL assets. There are REAL consequences to decisions. And there is no FED. Although indirectly inflationary pressures from the FED obviously affect GDP and growth and the demand for materials that go into industrial production and transportation.