The Prop Trader Challenge

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Old Dec 5, 2012, 10:44pm   #1
Joined Nov 2010
The Prop Trader Challenge

It’s an ambition of mine to obtain a Prop Trader position by 2013 end. I’ve spoken to some firms and have been informed that as a Prop Trader I would need to double my account every year, which I average to 10% every four weeks (allowing for holidays, slow periods etc). So this is the standard I am targeting in order to obtain and hold a Prop Trader account.

This blog will detail the trials, tribulations and hopefully triumphs, of my Prop Trader endeavour.


I’ll be trading only Forex, using 3 strategies, which I will refer to as: renko, 5M, and PA.


Renko uses a brick size of 5 on AUDUSD and EURUSD.

5M uses levels that I have developed and PA at those levels, on EURUSD only.
PA uses S/R and PA on the 240M TF, on 30 or so different pairs.

Each strategy is in development. And it may turn out that a strategy or 2 prove to be unprofitable. Plus I’m learning as I go, so there will be errors. But hopefully at the end I’ll have developed a strategy with an edge, and just as importantly, an edge that I am capable of wielding.


I’ll post trades I’m in as close to real time as humanely possible. And tally results each week or perhaps month.


So this is
The Prop Trader Challenge, wish me luck.

Last edited by jungles; Dec 5, 2012 at 11:55pm.
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Thanks! The following members like this post: Shakone , Yamato , D70
Old Dec 5, 2012, 10:49pm   #2
 
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Joined Nov 2009
Re: The Prop Trader Challenge

Quote:
Originally Posted by jungles View Post
It痴 an ambition of mine to obtain a Prop Trader position by 2013 end. I致e spoken to some firms and have been informed that as a Prop Trader I would need to double my account every year, which I average to 10% every four weeks (allowing for holidays, slow periods etc). So this is the standard I am targeting in order to obtain and hold a Prop Trader account.

This blog will detail the trials, tribulations and hopefully triumphs, of my Prop Trader endeavour.


I値l be trading only Forex, using 3 strategies, which I will refer to as: renko, 5M, and PA.


Renko uses a brick size of 5 on AUDUSD and EURUSD.

5M uses levels that I have developed and PA at those levels.
PA uses S/R and PA on the 240M TF.

Each strategy is in development. And it may turn out that a strategy or 2 prove to be unprofitable. Plus I知 learning as I go, so there will be errors. But hopefully at the end I値l have developed a strategy with an edge, and just as importantly, an edge that I am capable of wielding.


I値l post trades I知 in as close to real time as humanely possible. And tally results each week or perhaps month.


So this is
The Prop Trader Challenge, wish me luck.
Ahh Renko, ever since moving to Updata for their P&F I have lost the ability to chart Renko. Very best of luck to you
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Old Dec 5, 2012, 10:53pm   #3
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Re: The Prop Trader Challenge

jungles started this thread thanks for the encouragement malaguti

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Originally Posted by malaguti View Post
Ahh Renko, ever since moving to Updata for their P&F I have lost the ability to chart Renko. Very best of luck to you
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Old Dec 5, 2012, 11:26pm   #4
Joined Oct 2012
Re: The Prop Trader Challenge

good luck btw r u a student
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Old Dec 5, 2012, 11:35pm   #5
Joined Nov 2010
Re: The Prop Trader Challenge

jungles started this thread thanks avtardhillon, a student of forex, yes

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good luck btw r u a student
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Old Dec 6, 2012, 4:43am   #6
Joined Nov 2010
Re: The Prop Trader Challenge

jungles started this thread 5M trade

EURUSD
Short 3050
TP 3040
SL 3060
RR 1%
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Old Dec 6, 2012, 5:18am   #7
 
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Re: The Prop Trader Challenge

This is a very fun thread so far. Thanks for sharing jungles, and best of luck to you! BTW I just took the same trade, but in the other direction... :-)
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Old Dec 6, 2012, 6:00am   #8
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Re: The Prop Trader Challenge

jungles started this thread thanks, and good luck to you

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Originally Posted by babymonkey View Post
This is a very fun thread so far. Thanks for sharing jungles, and best of luck to you! BTW I just took the same trade, but in the other direction... :-)
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