Nope. You are not understanding the relationship between trader and prop firm. Did you pick up the latest issue of Trader Monthly? They have the new 30 under 30 issue out. The up and coming superstars. Take a guess how many of those guys trade at home alone? Just take a wild guess? Pick a number, any number. Yeah, sure you can eek out a teacher's salary staying at home trading your small account. Most traders aspire to more. Most traders want to take their talent to the highest level. That is freedom my friend. And it ain't going to come sitting in mom's basement in your underwear making just enough money to cover your Honda Accords car payment. LOL.
Why Did Bright Close It's Dallas Office?
- Thread starter Jessica Spears
- Start date
Nope. You are not understanding the relationship between trader and prop firm. Did you pick up the latest issue of Trader Monthly? They have the new 30 under 30 issue out. The up and coming superstars. Take a guess how many of those guys trade at home alone? Just take a wild guess? Pick a number, any number. Yeah, sure you can eek out a teacher's salary staying at home trading your small account. Most traders aspire to more. Most traders want to take their talent to the highest level. That is freedom my friend. And it ain't going to come sitting in mom's basement in your underwear making just enough money to cover your Honda Accords car payment. LOL.
The problem I see with your theory is most rookie traders aren't trying to go prop. I would speculate that most rookie traders don't even know what a prop shop is. And veteran traders? Why even talk about them, they don't exist. I'm being sarcastic of course but there isn't really a large pool of them to really even talk about. Even the best/veterans have blown themselves out because they missed something or overlooked some critical piece of information.
The prop market would then be the average/above average group of traders. Who have tested a few things out and feel some leverage would give them an edge. So in other words, people go prop because they want an edge!
How do you get an edge? Leverage, training, ideas, insight, experience, etc.
Can you get training, ideas, insight/experience working in an office? I would argue that you could if you have the right team. Lets say you work with an ex-floor trader, and institutional trader, a market maker, a veteran option trader, etc.
You get a group of the right people together and you can really create some serious synergy. I don't care who you are, you probably haven't experienced the market in full, even if you've worked in it. You might have extensive knowledge in a few areas, but unless you are George Soros, you are still learning. Again, I say that sarcastically as I'm sure even Soros is still learning.
And I don't care if you think you are in the top 5%. There are people out there that know more than you in certain areas. And you could definitely benefit from spending some time with them. So why not?
Don't have it but how would one go about finding any traders who trade from home who would fit in to this category ? What are the requirements to be in this class ? Just curious how you commute to work and how long does it take you ?
i know several superstar traders who trade from home.
they don't read trader's monthly.
surf
Quote from ozarka:
The problem I see with your theory is most rookie traders aren't trying to go prop. I would speculate that most rookie traders don't even know what a prop shop is. And veteran traders? Why even talk about them, they don't exist. I'm being sarcastic of course but there isn't really a large pool of them to really even talk about. Even the best/veterans have blown themselves out because they missed something or overlooked some critical piece of information.
The prop market would then be the average/above average group of traders. Who have tested a few things out and feel some leverage would give them an edge. So in other words, people go prop because they want an edge!
How do you get an edge? Leverage, training, ideas, insight, experience, etc.
Can you get training, ideas, insight/experience working in an office? I would argue that you could if you have the right team. Lets say you work with an ex-floor trader, and institutional trader, a market maker, a veteran option trader, etc.
You get a group of the right people together and you can really create some serious synergy. I don't care who you are, you probably haven't experienced the market in full, even if you've worked in it. You might have extensive knowledge in a few areas, but unless you are George Soros, you are still learning. Again, I say that sarcastically as I'm sure even Soros is still learning.
And I don't care if you think you are in the top 5%. There are people out there that know more than you in certain areas. And you could definitely benefit from spending some time with them. So why not?
Don't get me wrong, there are plenty of benefits to trading prop.
Hell I wish I could go back and pay Don a grand for their class instead of paying 100k tuition to the market during my learning process.
Guys....this is so obvious a "both answers" are ok situation.
I myself, and I am sure others are not dependent on being around others to make fortunes trading.....if you are that would be a weakness.
If you like to be around others then that is just fine.....no biggie. Also, if a prop trader has some automated systems operational it would very much be in their interest to set-up at one of their props offices (for tech support, or improved connectivity, etc).
Both options can work and very well actually.....that part is all in the hands of the trader.
I myself, and I am sure others are not dependent on being around others to make fortunes trading.....if you are that would be a weakness.
If you like to be around others then that is just fine.....no biggie. Also, if a prop trader has some automated systems operational it would very much be in their interest to set-up at one of their props offices (for tech support, or improved connectivity, etc).
Both options can work and very well actually.....that part is all in the hands of the trader.