If you're looking to go prop, get paid

[chilltrader]

"If you don't know anything about trading, you're not going to make money for six to eight months"

Is that it?... I thought it was more like 3 years, 2 of which is paper trading.

You must be a really good trader.

I'm open to learn and get ideas (no.. I'm not being sarcastic).

Please do feel free to PM!

 

[arabianights]

If you want a quick laugh, go to this guys profile, look at thr url of his website. Don't actually have to VIISIT the site, just look at the url.

 

[MrGecko]

Lol

 

[Directional]

:cheesy:

 

[FXSCALPER2]

How fitting.:cheesy:

 

[SFL Trader]

"If you don't know anything about trading, you're not going to make money for six to eight months"

Is that it?... I thought it was more like 3 years, 2 of which is paper trading.

You must be a really good trader.

I'm open to learn and get ideas (no.. I'm not being sarcastic).

Please do feel free to PM!

Depends. I know guys who turned the corner at 6 months and guys who figured it out at a year and a half and guys who never figured it out at all. Plus, there are plenty of people who figure it out and the lose their discipline and blow up.

Paper trading isn't really a good idea. Watching your screen without making any trades is a very good idea but you can't pretend like you made the trade. Once you think you are starting to see it, you have to fire with real money. Even it it's just a 1 lot.

 

[SFL Trader]

If you want a quick laugh, go to this guys profile, look at thr url of his website. Don't actually have to VIISIT the site, just look at the url.

p.s. prob only funny if you're English or understand English slang.

p.p.s. I have no idea if this guy's a good trader or not (and don't really mind either way to be honest). Bio is pretty pompous though which turned me off right away.

p.p.s. I do however agree in general terms with his point about a salary. Hard to concentrate if you're worried about where your rent is coming from, and as I don't believe that the only people who make good traders are those with the dough to pay their way for 6m+, it has to be a salary imho (incidentally, nor do I believe people born into money or with spare money knocking around would necessarily make bad traders either - I would bet the two are actually uncorrelated for what it's worth)

GJ

If you actually went to the website and read it, you would probably still laugh and still think I'm pompous but you might also realize that I do know something about trading. Of course, you don't care if I know anything about trading which is why you felt the need to tell people to go to my post and get a good laugh

I agree with your third pps. I don't think where you come from matters at all. Which leads me to ask...when you say "English", do you mean "from the U.K."? Or do you mean, "speaks English"? I ask because you obviously speak English and I'm not from the U.K.

 

[GeekoFrog]

Hi Can u give any advice on how and where you can join a prop firm? I have a degree and some retail bank experience, but didnt enjoy that much cause you weren't even allowed to say the name "stock" to the customers only recommend the banks own poorly preforming mutual funds more or less.

Is Lonon the only place who have prop trading firms where people without much experience can walk in and try it out? I haven´t had London in my mind really but if thats the only place for this perhaps I have to consider it. But what experince is requiered and which are the easiest cities to get into one?

 

[RogueTrader888888]

I have much more respect for firms that do pay a salary, even if it just for 6 months and like 1k a month like METtraders(and ultimately comes out of your trading account so its not really a salary "per se", more like living money).

Its obvious that becoming a good trader requires at least two years and many people cannot survive that long especially at an expensive city like London. Its a shame that someone with good potential may have to give up after 3-6 months to pursue a more stable profession due to money shortfalls and/or some short term "bad run" in the markets and a lack of confidence. It is also not fair to have trainees up to 6 months in a simulator because the conditions are completely different to real trading and how a trader reacts emotionally to gain/loss and greed/fear. Two months maximum should be a rule then get the trader to trade 1 lot in the closest month of a euribor contract just so they get a feel for going live.



On the other hand, the business is extremely competitive for prop firms and a lot of them are struggling with cash flow problems, this is coupled with the fact that they can get away with not paying a salary because there are 1000s of graduates every year that dream to make it as as trader (many with false illusions about just how "easy" it is to make "big bucks").