the unemployment is coming from my previous employer
unemployment and beginning at a prop firm
- Thread starter gotohell22
- Start date
@R. Raskolnikov
good post. its always good to hear from people who have been there.
ive traded my own personal account for about 3 years now and ive been pretty consistent. by consistent i mean on average i made money. I would make a ton some months and then lose money others. thats probably not the consistency that your talking about, but it works for me if ive got more winners than losers on average. (which i think is a lot considering the current state of the market) but I traded both sides (long and short) and and over longer time frames (usually 3-6 week holdings). I blew out my original personal account in about a month before i really buckled down.
im a big fan of pattern trading - Bulkowski's books are great for this
I did trade some things intraday and noticed many of the same patterns and trends show up over a short period. The problem was the damn pattern day trader rule... scottrade was constantly nagging at me about it (not to say it wasnt justified).
good post. its always good to hear from people who have been there.
ive traded my own personal account for about 3 years now and ive been pretty consistent. by consistent i mean on average i made money. I would make a ton some months and then lose money others. thats probably not the consistency that your talking about, but it works for me if ive got more winners than losers on average. (which i think is a lot considering the current state of the market) but I traded both sides (long and short) and and over longer time frames (usually 3-6 week holdings). I blew out my original personal account in about a month before i really buckled down.
im a big fan of pattern trading - Bulkowski's books are great for this
I did trade some things intraday and noticed many of the same patterns and trends show up over a short period. The problem was the damn pattern day trader rule... scottrade was constantly nagging at me about it (not to say it wasnt justified).
no pattern daytrading rule in futures. Better tax treatment, and higher earnings ceiling. But...very very competitive.
Some people find that having previous trading experience helps them, others find that it hurts them when they venture into a prop situation. It really comes down to whether or not you did damage to yourself psychologically. Also keep in mind that prop firms are about daytrading, very different from 3-6 week hold.
PS If you want to quote someone in particular, there is an option for that
Some people find that having previous trading experience helps them, others find that it hurts them when they venture into a prop situation. It really comes down to whether or not you did damage to yourself psychologically. Also keep in mind that prop firms are about daytrading, very different from 3-6 week hold.
PS If you want to quote someone in particular, there is an option for that
haha well hopefully my psychological damage that i took losing money in the past will shorten my learning curve. who knows but ive seen thousands flow out of my account in a day only to see it trickle back in over the next week.
u know i hit the bar that night...
yeah the bulk of my past trading definitely isnt intraday but it interests me quite a bit. Ive never really had the opportunity due to not having the minimum capital.
u know i hit the bar that night...
yeah the bulk of my past trading definitely isnt intraday but it interests me quite a bit. Ive never really had the opportunity due to not having the minimum capital.
i think i looked into this and the licensing fee series 7 membership for an LLC is like 5k. ill look for the link if your interested.
ill just make sure to look over the contract closely.
Most paperwork for firms that require you to be licensed is generic. It's the sub LLC retail firm paperwork that you have to dig through. That whole model seems shady to being with.