Hi all,
Due to being made redundant I am considering my career options. I have taken a keen interest in trading over the last couple of years starting with spreadbetting indices to where I am now which is trading currencies (with MT4) on my small account - obviously due to working commitments my trades are based on weekly, daily, 4H charts (my 'style' / strategy is based around price action i.e. S/R, trendlines, some fibs, divergence, a few candlestick patterns (mainly pin bars and outside bars), round numbers).
After having a break from active trading for the last 3 months due to being very busy at work I've started trading again and with the impending unemployment (from March) I am looking at ways I can turn my 'hobby' into a career.
From the research I have conducted to date and from what I have read on this forum (apologies for not being an active poster on this forum - I post regularly on forex factory) I see myself as having 3 main options:
1. Pay to go on training course with a prop firms like Amplify, Futex etc and hope I am successful and they will back me after the training ends - I am unclear as to what the typical starting size account is (obviosuly depends on potential and performance) and what the ongoing desk fees would be i.e. typically how long would it be (I know it is probably hard to answer this question - but peoples personal experience once they have completed the training would be appreciated) until a trader could expect to take home say £2k per month net.
2. Apply for any prop firms taking on 'graduates' or intake for trainees whereby your outlay is zero i.e. they pay you - obviously these are very hard to get into due to the competition and high level of calibre candidate required (I do have a degree - theoretical physcis - I am 30 years old and have been working in the insurance industry for the last 9 years - the last 4 being in a specialist area related to M&A).
3. Presuming I can support myself financially (which I'm confident I can) for 6 months use the 6 month period to trade intraday (profitably) and then use my live account statements as a means to approach prop firms for backing etc.
I'd appreciate any helpful thoughts, comments, views etc.
Many thanks
Due to being made redundant I am considering my career options. I have taken a keen interest in trading over the last couple of years starting with spreadbetting indices to where I am now which is trading currencies (with MT4) on my small account - obviously due to working commitments my trades are based on weekly, daily, 4H charts (my 'style' / strategy is based around price action i.e. S/R, trendlines, some fibs, divergence, a few candlestick patterns (mainly pin bars and outside bars), round numbers).
After having a break from active trading for the last 3 months due to being very busy at work I've started trading again and with the impending unemployment (from March) I am looking at ways I can turn my 'hobby' into a career.
From the research I have conducted to date and from what I have read on this forum (apologies for not being an active poster on this forum - I post regularly on forex factory) I see myself as having 3 main options:
1. Pay to go on training course with a prop firms like Amplify, Futex etc and hope I am successful and they will back me after the training ends - I am unclear as to what the typical starting size account is (obviosuly depends on potential and performance) and what the ongoing desk fees would be i.e. typically how long would it be (I know it is probably hard to answer this question - but peoples personal experience once they have completed the training would be appreciated) until a trader could expect to take home say £2k per month net.
2. Apply for any prop firms taking on 'graduates' or intake for trainees whereby your outlay is zero i.e. they pay you - obviously these are very hard to get into due to the competition and high level of calibre candidate required (I do have a degree - theoretical physcis - I am 30 years old and have been working in the insurance industry for the last 9 years - the last 4 being in a specialist area related to M&A).
3. Presuming I can support myself financially (which I'm confident I can) for 6 months use the 6 month period to trade intraday (profitably) and then use my live account statements as a means to approach prop firms for backing etc.
I'd appreciate any helpful thoughts, comments, views etc.
Many thanks
