The Prop Trader Challenge

[jungles]

as the trade account size grows the % return requirement decreases,
but to get in the door and start on a small account, say $100k, 100% seems to be industry standard

dont think any professional trader really doubles the account every year

 

[SlowlyButSurely]

as the trade account size grows the % return requirement decreases,
but to get in the door and start on a small account, say $100k, 100% seems to be industry standard

As someone that looked at the prop desk route I agree. In most places they start you off on about £50,000 and look for you to double that, which, after desk fees etc is only about 25k p.a. for yourself

Apparently whilst on demo with them they will look for you to draw in £500 per day, but it will vary from firm to firm and as long as you are successful over the long term you will do fine by them im sure.

Hope you do it

 

[jungles]

this weekends music, an acquired taste Joanna

Joanna Newsom the Book of Right-ON - YouTube

 

[Spammer.]

dont think any professional trader really doubles the account every year

pffft, proppies will need to turn a 5k into some serious coin within a year if they expect to make it.

 

[prometeo1984]

pffft, proppies will need to turn a 5k into some serious coin within a year if they expect to make it.

if traders did actually double their money every year why dont we see many traders in the top 100 rich people?

 

[Spammer.]

if traders did actually double their money every year why dont we see many traders in the top 100 rich people?

oh yeah din't think of that

 

[the hare]

if traders did actually double their money every year why dont we see many traders in the top 100 rich people?

I suppose theres quite a lot of software guys who take the top slots, but traders and hedge fund managers etc are fairly well represented.

Ray Dalio 10 billion
Abigail Johnson at fidelity 12 billion
James Simmons at renaissance technologies 11 billion
John Paulson 12 billion
George Soros 20 billion
Warren Buffet 44 billion

How many more do you want ? In reality, many of the worlds richest will have obtained a fair chunk of that wealth through additional investment, or stock ownership, so if you wanted to be really pedantic, probably 90% of the worlds richest people are involved in owning, acquiring and disposing of financial instruments of one type or another

Most of the traders I know won't become rich because most dont actually want too.

 

[Mr Woozel]

if traders did actually double their money every year why dont we see many traders in the top 100 rich people?

I suppose theres quite a lot of software guys who take the top slots, but traders and hedge fund managers etc are fairly well represented.

Ray Dalio 10 billion
Abigail Johnson at fidelity 12 billion
James Simmons at renaissance technologies 11 billion
John Paulson 12 billion
George Soros 20 billion
Warren Buffet 44 billion

How many more do you want ? In reality, many of the worlds richest will have obtained a fair chunk of that wealth through additional investment, or stock ownership, so if you wanted to be really pedantic, probably 90% of the worlds richest people are involved in owning, acquiring and disposing of financial instruments of one type or another

Those guys don't double their accounts year on year (which is what Spammer was asking) and not sure if they are classed as prop traders. I assume the best in your list have typical annual returns of 10%-40% give or take.

Most of the traders I know won't become rich because most dont actually want too.

This has to be the funniest statement of 2012. Click on the arrow if you agree:
Can't wait for the reply...

 

[D70]

Those guys don't double their accounts year on year (which is what Spammer was asking) and not sure if they are classed as prop traders. I assume the best in your list have typical annual returns of 10%-40% give or take.




This has to be the funniest statement of 2012. Click on the arrow if you agree:
Can't wait for the reply...

I agree with Hare. You should read up a bit more about trading psychology.

 

[avtardhillon]

dont think any professional trader really doubles the account every year

read market wizards

 

[jungles]

this is how to trade.......in the zone

although i advise a SL

The ascent of Alex Honnold - YouTube
.

 

[jungles]

Renko trade

EURJPY
sell 4.65
SL 4.80
TP 4.50
RR 2%

 

[jungles]

darn it, surprise news screwing with my perfectly good start to the year

.

 

[jungles]

Renko trade

EURJPY
sell 4.55
SL 4.73
TP 4.37
RR 2%

 

[SlowlyButSurely]

darn it, surprise news screwing with my perfectly good start to the year

.

This is why FX can be tricky to trade as Gov's intervene a lot to fix currency prices. An example is the 1.20 Support on EUR/CHF

 

[counter_violent]

Those guys don't double their accounts year on year (which is what Spammer was asking) and not sure if they are classed as prop traders. I assume the best in your list have typical annual returns of 10%-40% give or take.




This has to be the funniest statement of 2012. Click on the arrow if you agree:
Can't wait for the reply...

This is the difference between wisdom and yuuff.
Do you think that having money solves all the problems? Have you considered that having money brings it's own set of problems?

 

[Mr Woozel]

This is the difference between wisdom and yuuff.
Do you think that having money solves all the problems? Have you considered that having money brings it's own set of problems?

Of course I have considered it just like many other things in life. The statement Hare made was that he/she is in contact with traders who won't become rich becuse they don't want to be. I implied this to mean they could be rich if they wanted to. Even if Hare meant rich as in the richlist and not rich as in to make enough money to permantly live the life you wanted to, I didn't agree because:

a) I would guess one reason most people want to do it full time is to make alot of money, esp if true about full time traders and burnout. For all sorts of reasons, it's probably not the securest and steadiest of careers.
b) Any money they didn't want, they could put to good causes whatever they deem a good cause to be, even throwing it on a fire.

So anyone that says I'm a full time trader, I could get rich but choose not to as I don't want to be rich would set off alarm bells. Probably one of these bad analogies but bit like saying, I make an ok living playing football professionally in one of the lower divisions (I know nothing about football). I could play in the premiership if I wanted, even if only for a couple of seasons and make a ton of money, but I choose not to as I don't want to become rich.

Perhaps Hare could ask one of those traders to come on T2W and share their views on the matter. Think it would make a genuinely interesting thread.

Maybe this should be discussed in another thread and not Jungle's (apologies)

 

[Mr Woozel]

Jungle's, after spreads and commissions are included, are you BE trades still BE? What are your spreads and commisions?

 

[jungles]

yes, many times i have been caught up in surprise news.....par for the course i suppose

This is why FX can be tricky to trade as Gov's intervene a lot to fix currency prices. An example is the 1.20 Support on EUR/CHF

 

[jungles]

tell me your problems CV

Have you considered that having money brings it's own set of problems?