You're assuming the guy who puts on the spread miscalculates the cost of the spread, and when both sides move against him gets wiped out.
and conveniently ignoring the fact that he can endure "huge, huge losses on both sides."
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The top 3 guys who make over 1 million a year at my firm...
- Thread starter s0mmi
- Start date
and conveniently ignoring the fact that he can endure "huge, huge losses on both sides."
the spread trader is just simply trading the middle of the market
and a proper spread can endure all kinds of heretofore unforeseen moves, no matter how violent they are
and a proper spread can endure all kinds of heretofore unforeseen moves, no matter how violent they are
whatever
just based on years of observation
the younger you are, the more outright you are
the older you are, the more spread you are
just based on years of observation
the younger you are, the more outright you are
the older you are, the more spread you are
so good for you, you're making a million dollars a year at a prop firm.
Who will they be talking about five years from now?
My guess is, it won't be you
Who will they be talking about five years from now?
My guess is, it won't be you
for crying out loud, you don't even know what your ROI is, and in my book that makes you a smalltime gambler, and if you are that good, why are you looking for job?Quote from kid.fx.cross:
so good for you, you're making a million dollars a year at a prop firm.
Who will they be talking about five years from now?
My guess is, it won't be you
Quote from s0mmi:
The top 3 guys who make more than 1 million a year at firm, have the following traits about their style of execution and strategy:
1. They don't have a real 'stop' in terms of dollars. They have one, in the back of their mind, which is equal to a good portion of what they leave in my prop firms bank account, but there's no way they will EVER enter a trade and go "Ahhh if I am 5 ticks offside here I'm down 100k and I exit."
In fact every single one of them have a time stop utilized way more than a dollar stop.
2. Averaging is extremely necessary. All 3 of them collect. How you do it, is completely up to you... your own 'stye' of collection. But they are definitely not in/out click-n-go guys
3. Their time frames utilize the entire session of the day most of the time. They are not about the bid/offer garbage little game which is ever-more-so saturated with bots and algorithms today
Also the most obvious one is they are all spreaders. But this is completely obvious. The biggest outrighter in our firm is lucky to clear 200-400k/year (AUD). Two of the 3 biggest spreaders make 4-5 milli and 8-10 mill a year each
what was the reason for you,personally,to start this thread?
Quote from Rorschach_test:
what was the reason for you,personally,to start this thread?
> Browsed through many threads and hundreds of and posts people seem to be asking a few of the same things about what's important. These were just my observations. I'm helping people. Or if it's interesting to others, that counts too.
Quote from kid.fx.cross:
so good for you, you're making a million dollars a year at a prop firm.
Who will they be talking about five years from now?
My guess is, it won't be you
> You're a bitter little child. Poor kid. No-where did I state that I was making a million dollars. I am not even close to that. I have made nothing braggable at all. I have shown many people my equity curve and my account. 7-figures is way off. I made $0 for the first 12 months because of how sink-or-swim we had it, with zero teaching and zero guidance along the way.
> I'll still be there in 5 years so I hope they're not talking about me, but talking TO me
Quote from kid.fx.cross:
they don't know what their ROI is. They are just prop traders.
If they were any good, they'd be independent.
But it was good while it lasted, wasn't it?
> Asking what an ROI in futures trading is a bit silly. Why? Oh, hang on, let me go ask the 3 biggest guys at the firm a series of specific questions:
#1 What is your ULTIMATE dollar stop?
#2 How much money have you left in your account?
#3 Of the 10 or 20 markets you have access to, tell me the Maximum number of limits you have in them ALL
#4 What is the exact dollar-rate of margin that you have to theoretically pay if you held all your limits.
These guys won't even tell you what they made last month and you want to probe them for this?
Asking ROI is too hard to gather. This is futures trading. This is a game where leverage is 20 to 1. They are primarily DAY traders.
And besides, the ROI changes because we are under my firm where we get heavy discounts on the margin cost for every single contract compared to a retailer because of the high brokerage that the firm does, as a whole. .
> If the traders at my firm were any good, you are saying they'd be independent. WRONG. They would need to keep upwards of $2 to $5 million dollars as a DEPOSIT, just at the exchange or their broker, because of the huge margin requirement.
Without being specific, let's just say that two of the three guys are on a '100% split' anyway and the 3rd one is definitely above 85%, possibly even 90%. Obviously my company recognises these guys do not need the company and could do it by themselves. They just profit from their brokerage. Also, the brokerage these guys do counts towards the 'tally' for the company so it helps lower the total cost of business for the firm. Not to mention the teaching value they sometimes provide.
So yes, none of them need the company, but they enjoy the environment and having the office and they trade with old time friends as well.
though i agree on all the above point you`ve outlined in the entry post,it seems impossible to make it for the small timers.and here i`d agree with emg the member,that the game is not built for the small timers.it`s mandatory to collect in the game,b/c the take-off traders account for,probably, 0.01%,statistically.
Quote from s0mmi:
> Browsed through many threads and hundreds of and posts people seem to be asking a few of the same things about what's important. These were just my observations. I'm helping people. Or if it's interesting to others, that counts too.
> You're a bitter little child. Poor kid. No-where did I state that I was making a million dollars. I am not even close to that. I have made nothing braggable at all. I have shown many people my equity curve and my account. 7-figures is way off. I made $0 for the first 12 months because of how sink-or-swim we had it, with zero teaching and zero guidance along the way.
> I'll still be there in 5 years so I hope they're not talking about me, but talking TO me
> Asking what an ROI in futures trading is a bit silly. Why? Oh, hang on, let me go ask the 3 biggest guys at the firm a series of specific questions:
#1 What is your ULTIMATE dollar stop?
#2 How much money have you left in your account?
#3 Of the 10 or 20 markets you have access to, tell me the Maximum number of limits you have in them ALL
#4 What is the exact dollar-rate of margin that you have to theoretically pay if you held all your limits.
These guys won't even tell you what they made last month and you want to probe them for this?
Asking ROI is too hard to gather. This is futures trading. This is a game where leverage is 20 to 1. They are primarily DAY traders.
And besides, the ROI changes because we are under my firm where we get heavy discounts on the margin cost for every single contract compared to a retailer because of the high brokerage that the firm does, as a whole. .
> If the traders at my firm were any good, you are saying they'd be independent. WRONG. They would need to keep upwards of $2 to $5 million dollars as a DEPOSIT, just at the exchange or their broker, because of the huge margin requirement.
Without being specific, let's just say that two of the three guys are on a '100% split' anyway and the 3rd one is definitely above 85%, possibly even 90%. Obviously my company recognises these guys do not need the company and could do it by themselves. They just profit from their brokerage. Also, the brokerage these guys do counts towards the 'tally' for the company so it helps lower the total cost of business for the firm. Not to mention the teaching value they sometimes provide.
So yes, none of them need the company, but they enjoy the environment and having the office and they trade with old time friends as well.
I'm enjoying your thread.
Please don't be put off by the idiot(s) who will inevitably stop by.
Quote from Rorschach_test:
though i agree on all the above point you`ve outlined in the entry post,it seems impossible to make it for the small timers.and here i`d agree with emg the member,that the game is not built for the small timers.it`s mandatory to collect in the game,b/c the take-off traders account for,probably, 0.01%,statistically.
What exactly is 'collect'?