Making $150,000/ month trading US stocks.

[suggy]

trading - a true meritocracy where nepotism definitely DOES NOT exist

 

[kumarsg]

Makes a good read

 

[zarif]

250 trades a day -whether she is 20yrs old or not doesnot matter -no way would i entice her rather go and marry a computer.

 

[TWI]

I know people who make this sort of money scalping Euribor, they will be trading ~500,000 round turns/month.
They are also, not normal.

 

[sidinuk]

They are also, not normal.

 

[henry766]

it may not be impressive china , but just trading at a profit is a million times better than trading at a loss!!!( i guess making profits should be the first rule!!! maybe even the second one too

 

[JTrader]

She makes $150,000/month and has made as much as $250,000/month.She has netted $50,000 on her biggest day and lost $19,000 on her worst.She is allowed to keep 70% of her profits.

Interviewer: Can you tell us what the training program is like at XXX Trading?
Trader: Well, the first three weeks you’re learning about the general market, what a Level II screen looks like, what all the indicators are, as well as going over what stocks are within your realm of trading. And basically you get an overview of what momentum-based trading is in every aspect, from getting comfortable with the keyboard and all of the indicators on the screen to some basic principles about momentum. After those three weeks, you start live on the computer, and you have a manager who sits next to you. Mine – his name was XYZ. He was my manager. They sit next to you for a few months and you start trading 100-share lots and watching and learning about the market. And as you go on and you’re learning in trading, you will get bumped up in share size as well as in where you are going to sit. So after a few months, you don’t have to sit next to your manager anymore. You’re put in a group of people all about the same skill level. But even after the training program is over, meetings held every day after work starting at 4:30 and end about 5:30. And all the trainees have to come in at 8:30 in the morning so that they can sit and look up a few things on Briefing or discuss what happened at the end of the day. It’s very hands on; you’re talking constantly throughout the day with other traders about trading about different things you see, different stocks you’re playing. It’s a very team effort, so it’s very nice trading at XXX.
Interviewer: And you quickly ramped up to trading as many as how many shares when you were trading at your largest size?
Trader: Oh, I got up to 6,000-7,000 shares of stock if I wanted.
Interviewer: At a time?
Trader: If I wanted to.

...................as well as hearing people around the room. I mean everyone is yelling “going down,” “going up.” It’s a very vocal room.
Interviewer: How many traders are you in the room with?
Trader: Well, I think the room upstairs now has over 70.
Interviewer: Seventy traders. And are they all or mostly proprietary traders like you?
Trader: No. It’s about half and half. Interviewer: And the other ones, what are they if not proprietary?
Trader: Customer traders. They trade their own money.

Hi

An interesting read...................

I can't help thinking that there must be some clear benefits when trading for a firm (proprietary trading), trading with/risking the firms money. At the very least - such an education would be a excellent grounding for anyone who then wants to go on and trade for themselves, but then if they could make such money trading for a firm - why would they want to then go on and trade for themselves?

..............But I suppose at the end of it all, the trader (whether a private or proprietary trader) has to perform. If they are not performing well for the firm, they will soon find themselves without a job and financial backing. Likewise - a private trader who is not performing well - will soon find themselves broke!

Cheers

jtrader.

 

[twelvespot]

I can't help thinking that there must be some clear benefits when trading for a firm (proprietary trading), trading with/risking the firms money. At the very least - such an education would be a excellent grounding for anyone who then wants to go on and trade for themselves, but then if they could make such money trading for a firm - why would they want to then go on and trade for themselves?

One major benefit of trading for a prop firm is the ability to quadruple your size. Lets say your a 22 year old kid who is trading for XXX prop firm and you have a good disciplined month of scalping. The prop firm might encourage you to increase your size 10 fold. An individual trader could not realistically do this.

First of all the only way you can realy tell who the main buyers and sellers are and what the market makers are realy trying to do ,is to be in the stock.You can see the prints going off either on the bid or ask.Ultimately the only way to actualy know who is doing that is when you preference them(direct a trade to them.ie a select net preference order)and either they trade with you or they dont.

I thought this observation was very insightful. Tape reading is very difficult art to grasp especially in the futures markets where fake bids and offers fly around constantly.

 

[JTrader]

How prop firms operate

Hi

I have seen job adverts in the past for trainee traders with prop firms. The adverts have had an age limit - 25 or under - i think they were.
I'm just wondering if some prop firms take on trainees who are older than this, particularly if the person has some private experience of trading? if so, how old is the oldest prop trader/trainee prop trader that you have known to be given a chance by a prop firm?

But i've also read that prop firms tend to like people with no experience of trading - so that the company can teach/mold the individual from scratch, without the person having any pre-conceptions.

How flexible are prop firms in terms of how they allow their traders to trade, and what instruments/markets the traders can trade?

For example, could I go along to a prop firm with my systems that i have proved to be successful - and hope to implement them?

Where do prop firms stand in terms of policy towards their traders putting to use mechanical trading strategies/fully automated mechanical trading strategies? is this acceptable or common place practice?

All information gratefully received

jtrader.

 

[TWI]

jt - In my experience, unless you are self funded you will only be allowed to implement the methodology you are taught. The only way to get more latitude is to be more than averagely successful with the method taught.

 

[JTrader]

Thanks Twalker.

how would the relationship between a self funded trader and a prop firm work?

Cheers

jtrader.

 

[paulm1986]

which software to buy? need advice.

Hey Naz,
You seem to know what you are doing and talking about.
Which software do you use?
I am just starting out but want to trade full time and am looking to buy a software. Trouble is every review is different on the same software.
I am looking at Metastock, omnitrader, and sharescope. I also want to trade mainly the US stocks.
Can you suggest any.

Paul.

 

[neil]

Hey Naz,
You seem to know what you are doing and talking about.
Which software do you use?
I am just starting out but want to trade full time and am looking to buy a software. Trouble is every review is different on the same software.
I am looking at Metastock, omnitrader, and sharescope. I also want to trade mainly the US stocks.
Can you suggest any.

Paul.

http://www.trade2win.com/boards/showthread.php?t=8237&page=4&pp=10

and you can pm him

 

[henry766]

if your a self funded trader surely you don't want to work for a prop firm , keep the choice and power in your hands?( as long as your profitable that is)

 

[Naz]

Wow! i didnt know this thread i started was still going.

I use www.tradestation.com for charts and www.tc2000.com for EOD US charts.


Naz

 

[amertrad]

I am interested the story of $150000/month tradind

Yes Henry,i believe she was and from the picture that i have with the article an absolute stunner.

If anyone wants to e mail me at [email protected].and leave their address,i'll gladly post them a copy of the article with the picture and a lot more info.

Naz

Hi
Naz would you send me a copy of the article and related information. I am really interested about that article. thank a lot.

 

[wongdill]

sorry can you also send me one too!!!

u can send it thru email by clicking my name. it's [email protected] anyway

 

[robben20]

Copy of article

Would anyone have a copy of the article I would be very interested in reading it?

Thanks in advance for your help!

Rob

 

[lingt2w]

copy of article

hi there,

may i request for a copy to read too
i hv enable sendng email direct to me in trade2win, appreciate a copy of aritcle for my understanding.
thanks much n regards,
ling

 

[azdo]

I'd be very grateful if someone could email me (via ET) the article and/or any other information about this young lady's trading.

Many thanks if that's at all possible.