i had to take a break from "PRINTING MONEY"to put some time into this.
Professionals= make money
all the others lose money
it is that simple
Professionals= make money
all the others lose money
it is that simple
Transitioning from Retail Trading to Prop Firm?
- Thread starter spectastic
- Start date
somehow this went from being about prop trading to pros and hoes and losers anyway
lets get down to business and sell this rally!!
prop firms are on GLASSDOOR usually you can google them and search for other traders views on them they are just like all the other people trying to FEAST off of traders with fees and high prices.. it is ridiculous but i fhtey are putting up the money for you then great. i am all for someone going prop to learn it is smart business i think
lets get down to business and sell this rally!!
prop firms are on GLASSDOOR usually you can google them and search for other traders views on them they are just like all the other people trying to FEAST off of traders with fees and high prices.. it is ridiculous but i fhtey are putting up the money for you then great. i am all for someone going prop to learn it is smart business i think
I can't teach anyone to think as a trader in a handful of phrases but if you let me know what is unclear to you I will try and clarify. I am in a trade so will answer when possible.
not looking for a GURU=teacher ..re read what you wrote about guru.. hmm how did i nail that top in the nq? today 10 mins ago.. must be luck must be cuz im a talking head.
do you have anything to add to the prop firm idea of this thread?
i worked prop I managed prop i saw guys come in and fail while others bought 911s and houses in vail. no offense to you but you never really know who is on the other end of the line now do yah.. how are those longs treating you....lol. covering my shorts
i worked prop I managed prop i saw guys come in and fail while others bought 911s and houses in vail. no offense to you but you never really know who is on the other end of the line now do yah.. how are those longs treating you....lol. covering my shorts
i've seen this elsewhere. retail traders have no edge, etc. but what is this based from? I don't think it's as black/white as you make it out to be, although probably 90% true.
I've done some reading on glassdoor and some prop firms and have pretty bad reviews. i saw a post accusing smb of being an education mill. with such a low retention rate, I think a lot of these reviews are pretty biased, which is part of what brought me here. also read that prop firms used to be very popular, due to low fees, but now that retail traders have pretty low fees, there's a lot less incentive to trade at prop firm.
Happy to get other perspectives, but back to the point of this thread. What separates the successes from the failures. What are those guys doing that others aren't, characteristics they have, how hard they work, etc. I think I have a general idea, but examples would be super helpful.
And you mentioned downside. Well downside is failure and not being able to be hired for another trading job and having to go back begging for a science job - fk that. I'm not saying it's going to happen, I think I have the work ethic and mindset to get through the hump, but it's a very real possibility. Just want to get a full perspective before taking a leap, as any rational person would do.
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acrually failure to them isnt a big deal. they want u to succeed but if you fail they will have pulled enough cash out of your fees and commissions to cover your losses to them. they make money off of everything. i am not against prop at all you should give it a go. if you screw up others will still take u on if it seems like you have ability.
I never worked for Jump, but I did a stint as a PM for one of their direct competitors and I have worked with a number of their alumni in various places. You gonna find that while these ads say "blah", the reality is is blah^0.5 - there are plenty of people working for Jump that went to no-name schools and do not have a PhD.
@spectastic There are several prop firms that are more discretionary-oriented (e.g. Bluefin Trading) but in almost all cases they are looking for a process-driven approach that can be easily evaluated. E.g. if you know how to do ETF redeems/creates and concentrate on a specific ETF family, they'd give you a shot. Most market-makers also have some sort of non-automated arm, e.g. both DRW and Jane Street do.
PS. There are also several places that would front you capital but do not pay a base - lower grade, obviously, but it could be worth a shot.
It's not only willing to do the work, also luck is involved (I mean being in the right place at the right time), and also talent. With talent I mean something like, how do you handle risk and uncertainty, how stubborn are you, and do your talents line up with the specific time and place you enter the trading world? I have seen many traders come and go, but it's impossible for me to quite put the finger on what makes somebody succeed or not.