Trading with a view to join a prop firm

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Old Oct 31, 2017, 5:10pm   #1
Joined Sep 2017
Trading with a view to join a prop firm

Hello,
I am relatively new to trading (forex) and after some thinking and advice from a few people I have decided to give priority to establishing a trading record with a smooth growth curve in the hopes of impressing a prop firm or some other type of company that will hire me to trade.

I've been told that a 1-2 year record (minimum) would be required in order to convince a prop firm that I am worth investing in (hiring), but what are the chances of finding a firm that will hire me now? With 6 months of trading under my belt? Am I wasting my time looking for a firm to train/hire me with only 6 months of trading?

I have compiled a list of what the firm would get below.

- A single, enthusiastic 30 year old male.
- Thrives off challenges!
- Willing to move anywhere in the world in a relatively short space of time (I can get access to relocation funds but I would need to get a wage within 2 weeks).
- I believe I have a knack for trading because I have taken to this like a duck to water. I literally love it! It just makes sense...even though I have never done anything like this prior to 6 months ago.
- My equity curve is now on a smooth upward trend (1 month) after the first few months of learning and losing 60% of my account (only down 47% now)
- I embrace risk/money management as it's a pillar of my trading.
- Currently putting 10+ hours per day into learning to trade so I have no problem putting in the work and I am always keeping my eyes and ears open between trading sessions.
- I don't have "a big male ego", so if I am wrong, I am wrong. I move on and do my best to ensure I am right the next time.

What I want from them:
- To be trained
- To be paid
- To be treated with decency

I have no education in business/economics. I am not mathematically gifted but can of course do simple math. Plus, we are never more than an arm's length from a calculator
I have some form of dyslexia but this is more of a benefit than a hinderance as it allows me to operate on a different level than most and during my examination by an educational psych we discovered that I have an elevated ability with abstract thinking and mental rotation type things. This, in my opinion, is probably why I find comfort in a technical chart. I have never done it in my life but yet since I started I feel like this is where I am supposed to be... if that makes any sense.

I'm pretty sure academic snobbery will exclude me from getting a job at an investment bank but am I wasting my time trying to find a prop firm that will hire me with 6 months independent trading under my belt?

Also,
Could someone please help me structure a contact message to a prop firm.
What do I say that would give me the best chance?

Thanks
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Old Oct 31, 2017, 6:11pm   #2
Joined Sep 2017
Nowler started this thread Also...
How do I find these prop firms?
Is there a directory for these or a list?

Perhaps I get some sort of a list of all firms in the UK for example and then start at the top and work my way down until I find one that is willing to invest in me?
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Old Nov 1, 2017, 2:11am   #3
 
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Originally Posted by Nowler View Post
Also...
How do I find these prop firms?
Is there a directory for these or a list?

Perhaps I get some sort of a list of all firms in the UK for example and then start at the top and work my way down until I find one that is willing to invest in me?
Please, please be very careful, because there is a popular scam going on: questionable prop trading firms looking for newbies to buy their education with promises of funding a trading account after, but they never do, just peddle more and more useless education...

In US to join a reputable trading firm as a trader, you'll have to get some of the industry exams for example, so lacking those prerequisites could be a red flag...

Read trough this review to gain some insight for red flags to look for...

https://www.tradingschools.org/reviews/trader2b/
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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 1, 2017, 11:33am   #4
Joined Jul 2010
http://towertradinggroup.com Dublin office are looking to back futures traders. www.positive.ie are recruiting. http://www.mettraders.com/ are in London.

Last edited by Trading Spaces; Nov 1, 2017 at 11:44am.
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Old Nov 1, 2017, 4:54pm   #5
Joined Sep 2017
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Originally Posted by Trading Spaces View Post
http://towertradinggroup.com Dublin office are looking to back futures traders. www.positive.ie are recruiting. http://www.mettraders.com/ are in London.
Cheers mate!
I just applied to the Positive.ie crowd.

I'll go look at the other now
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Old Nov 1, 2017, 5:03pm   #6
Joined Sep 2017
Nowler started this thread
Quote:
Originally Posted by Quantt View Post
Please, please be very careful, because there is a popular scam going on: questionable prop trading firms looking for newbies to buy their education with promises of funding a trading account after, but they never do, just peddle more and more useless education...

In US to join a reputable trading firm as a trader, you'll have to get some of the industry exams for example, so lacking those prerequisites could be a red flag...

Read trough this review to gain some insight for red flags to look for...

https://www.tradingschools.org/reviews/trader2b/
Thanks for the heads up mate.
I won't be buying anything from anyone because I have no money to do so

If a firm wants me to pay a fee for using their facilities then I would do that but if they want me to come trade for them, then I would require them to train me. I'd be willing to pay for education out of my wages over a period of time, but as for paying someone significant money upfront... nah

I am not getting my hopes up about getting into a firm. I noticed with the crowd I just applied for that I need "mad skills" with excel... I can barely use excel haha
I've never needed to do much with it.

Though, I did foundation level maths in school because "I wasn't able for ordinary level", but then I turned around and passed advanced statistics in university... go figure!

Lets see if I even get a call from this crowd
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Old Nov 1, 2017, 10:57pm   #7
 
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Originally Posted by Nowler View Post
Also...
How do I find these prop firms?
Is there a directory for these or a list?

Perhaps I get some sort of a list of all firms in the UK for example and then start at the top and work my way down until I find one that is willing to invest in me?
Once you've found somewhere suitable, go visit them. Stalk their traders, hang out in their local and listen in, watch and pay attention to them. Ask to visit their offices.

Keep a good track record that is simple to read, digest and understand and can be proved via bank transfers and your brokers account. Then without arrogance but certainly with confidence, slap it on a head dealers desk or hirer for a prop firm. If they like it, and who doesn't like profit, will simply say, start on Monday.

Obviously you will start on a lower funding package but once proved you can operate within their operations, will quickly be further funded.

Lee.
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Old Nov 2, 2017, 1:32am   #8
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Nowler started this thread
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Originally Posted by Lee Shepherd View Post
Once you've found somewhere suitable, go visit them. Stalk their traders, hang out in their local and listen in, watch and pay attention to them. Ask to visit their offices.

Keep a good track record that is simple to read, digest and understand and can be proved via bank transfers and your brokers account. Then without arrogance but certainly with confidence, slap it on a head dealers desk or hirer for a prop firm. If they like it, and who doesn't like profit, will simply say, start on Monday.

Obviously you will start on a lower funding package but once proved you can operate within their operations, will quickly be further funded.

Lee.
Cheers for the advice buddy!

I live in rural Ireland so meeting them isn't as easy as I would like.
Apart from this application I sent in to a prop in Dublin, I have no desire to stay here any longer. If I don't get into this prop in Dublin then I will probably move to the UK.

I'm not sure where yet though. I dont have the money to live in London and I have family near Stevenage so I might relocate to a middle ground between London and Stevenage? Perhaps then I would be able to surround myself with traders.

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.
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