What will I learn from a prop firm?

J

jimclark

If I join a prop trading with myown money...what will I learn from them? Is there any recommended prop firm with "teaching traders" patern or programs? I know they all have some sort of trader camps...but I wonder whichone is focused on 'teaching'???

You guessed...I am not as experienced...
 
such a typical ET answer

and a true one

you know, non traders don't understand, in order to make it in this field, you gotta be a cynical son of a bitch
 
Quote from silent creature:

such a typical ET answer

and a true one

you know, non traders don't understand, in order to make it in this field, you gotta be a cynical son of a bitch
More...

damn that's a true statement if there ever was one.
 
Quote from TSGannGalt:

Serious reply.

You'll recognize that you're a loser. If you accept it, you go and change yourself so that you're not one.
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hey TSGannGalt
I read in a post from your "The end of your posting days are near"

I was hoping hoping your were telling the truth, but guess not
 
Quote from jimclark:

If I join a prop trading with myown money...what will I learn from them? Is there any recommended prop firm with "teaching traders" patern or programs? I know they all have some sort of trader camps...but I wonder whichone is focused on 'teaching'???

You guessed...I am not as experienced...
More...

None of them are focused on teaching, they are a firm in which you trade through. They are interested in you trading high volume frequently and not blowing up your account. Whatever "teaching" they might offer is no better than what you can learn in a few good books and a year or two of losing money in the market before you "get it". there may be one or two that truly mentor you but lets lose the allure here of what a prop is, they are simply a broker to clear trades.

I am sorry but trading cannot be "taught" much like athletics. You can coach certain aspects and teach techniques to improve but you have to have some natural skills as well as your own methods of learning the material. Trading is one of the few things in life that no one can hand to you, you have to learn it for yourself.

If you do not believe me, why are there hundreds of books and articles on beginner trader mistakes yet beginners keep making the same mistakes over and over again? because it is a self-taught process.

So plenty of books out there to point you in the right direction and describe the right mental framework and perhaps teach you how to develop trade set ups and risk management but it gets you 5 yards at best. You still need to run the last 95 yards.

So forget about what a prop can teach you, the answer is nothing. Beginners do not need prop firms because a beginner should not learn through masssive leverage and chruning accounts. Just my humble opinion but most beginners will lose money faster at a prop than if they opened a retail account and started slow and learned the right way.
 
Quote from jimclark:

I have traded retail for about 3 years now...on again /off again type of trend.
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What's your motivation to going prop route? More BP? Training?

One thing I think is important that may or may not have impacted your results as retail is that the "on again/off again" pattern isn't a positive IMO. I started 12 years ago and found that if I wanted to make it I had to really stay focused, work at it and not give up. That meant every day being there trading and dealing with the good and bad days.

I'm a believer in a trader finding his/her own way of trading that they're comfortable with and is obviously profitable. That can take a lot of time and effort to find such.
 
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