Trading with a view to join a prop firm

This is a discussion on Trading with a view to join a prop firm within the Trading Firms forums, part of the Trading Career category; Originally Posted by Nowler ...I am not getting my hopes up about getting into a firm... Don't listen to me! ...

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Old Nov 2, 2017, 3:52am   #9
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...I am not getting my hopes up about getting into a firm...

Don't listen to me! It's all lies I tells ya...lies!
I am totally after getting my hopes up!

I read pretty much their whole website, except for the article/blog and it seems too good to be true. They are looking for hard workers and nobody's going to work harder than me at this! I hope my email hit the nail on the head. If only it was that easy though, eh.

Bed time now anyway, maybe I'll be a bit more realistic in the morning.

PS: Does anyone actually know anything about Positive Equity in Dublin? Also based in Croatia
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Old Nov 2, 2017, 7:18am   #10
 
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Cheers for the advice buddy!



Should I have told this prop about my dyslexia?
I did... I used to feel like it was a disability but now I honestly believe it lends itself to techincal analysis. I framed it as such when emailing the firm. I was honest about my non-traditional education but I also emphasised my university results. I told them that I didnt finish secondary school and that I did foundation maths but I also pointed out that I busted my balls and earned myself the second best grade possible in uni and passed advanced statistics.

Lets see how it goes.
To be honest and truthful with you, no one gives a sh1t about any ailments disabilities or special attributes. This includes grades you did or didn't get at school or university. Its all about your track record. Can you make money or not? Your track record is your gateway to being funded, nothing else.

Lee
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Old Nov 2, 2017, 2:43pm   #11
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To be honest and truthful with you, no one gives a sh1t about any ailments disabilities or special attributes. This includes grades you did or didn't get at school or university. Its all about your track record. Can you make money or not? Your track record is your gateway to being funded, nothing else.

Lee
After my little bit of drama Tuesday night, there goes my record...
It's not totally ruined but I am basically starting again.

I wonder how long until I get word back from them, if at all.
Part of me was actually expecting a call today because they emailed me very soon after I submitted my application/CV asking for clarification of my school/uni results, including math grade.

They seem quite proud of their charity work and embrace a "helping people" attitude. This makes me wonder why I didn't tell them that I went to Sri Lanka as a mental health volunteer and frequently organise or help out with charity events. Apart from me mentioning my slight but smooth upward trend in account equity (which is now gone) in the initial application, I forgot to mention these two things in the follow up email.

Would it look bad if I was to send them a follow up email with some of my trading stats and my charity work?
Out of 350 trades in 6 months I have a 45% record... and obviously this stat is muddied by all my losses in the beginning when I knew far less. I even wonder if I should have given them the link to my trading journal on here...

I probably shouldn't bother following up with another email stating these, right?

Last edited by Nowler; Nov 2, 2017 at 2:48pm.
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Old Nov 2, 2017, 10:37pm   #12
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Nowler started this thread How much do you think Positive Equity pay their new recruits in the Trainee Trader Program?

I am just working out how close to the office I could afford to move to and work out other essential things. I don't see a figure on their site. I see potentially 30-50k after the first year but I need to know what i'm dealing with right away.


EDIT: I found a figure of €955-1k/month on a site called Glassdoor (dot) ie
I can get a place about 5miles from the office for about half of my monthly wage.
I then have the other half for food, gym and...probably not much left for anything else.

By the sounds of things, should I get accepted, I would be looking at 7:30am to 22:00pm type hours, so not much time to do anything else which would require money.
From what I gather, I could take 2-3 hours off during the day to workout and do non-trading things. Not really enough time to get some hours in a bar to bring in more money...

Last edited by Nowler; Nov 2, 2017 at 11:04pm.
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Old Nov 3, 2017, 7:13pm   #13
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Nowler started this thread I spoke with the founding partner and when I mentioned that I had about 350 trades in 6 months he responded with "We do around 30-50 trades per day. Your system sounds a little less intense and based on other indicators."

What sort of strategy do you suppose they employ there?
I spoke to him over 2 emails and didn't have the chance to ask about their strategy.
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Old Nov 3, 2017, 7:45pm   #14
 
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I spoke with the founding partner and when I mentioned that I had about 350 trades in 6 months he responded with "We do around 30-50 trades per day. Your system sounds a little less intense and based on other indicators."

What sort of strategy do you suppose they employ there?
I spoke to him over 2 emails and didn't have the chance to ask about their strategy.
Manual HFT :-)
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My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Nov 3, 2017, 8:13pm   #15
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Manual HFT :-)
Should I be worried?

30-50 trades in a day works out at...4-6 trades/hr over an 8 hr period.
I am not sure what information/indicators they use to inform their trades but I could probably pull off 6 trades an hour just scalping pips here and there, or losing pips here and there

That's a lot of trades though!!
I wonder does a trade have to be closed before another one can be opened...
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Old Nov 3, 2017, 8:47pm   #16
 
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Should I be worried?

30-50 trades in a day works out at...4-6 trades/hr over an 8 hr period.
I am not sure what information/indicators they use to inform their trades but I could probably pull off 6 trades an hour just scalping pips here and there, or losing pips here and there

That's a lot of trades though!!
I wonder does a trade have to be closed before another one can be opened...
Frankly I have no idea, since I am not into day trading, not saying it's not working, but it's not my cup of tea, unless you can automate it (hence the HFT reference)... Looks like very stressful job, if you have to do it day after day staring into screens all the time...
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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