Proprietary Traders

[Jerry Westerby]

pipsalot you are so far off-base on so many things it's laughable.

 

[safvan]

... the median income for doctors, plumbers etc is much higher than that of traders as a whole.

Similarly, the median income for actors is something like $18k - the Julia Robertses are a tiny minority.

I disagree.

The median income of average performers in ANY field is average. There are surgeons and then there are doctors. Surgeons earn more than doctors.

There are extras and b grade actors and then there are super stars those who earn in millions.

There are small time traders who are happy with few hundred dollars a month and then there are big boys that earn in millions.

To be the high earner in any field you have to be the best in the field.


You cannot expect to be AVERAGE at trading and then make a Million Dollars per month. To make a MILLION DOLLARS per month you need the SKILL and the EXPERIENCE for it.

 

[safvan]

And also this Industry is based on people losing and misinformation.

Read the following very carefully.

You cannot make money in the markets if every one is on the correct side of the trade. The edge would be lost. If every one knew the game and its rules market would not exist.

The market is designed to take your money which means it is designed in a way that higher volume flows on the wrong side so that the select few that know the rules end up taking in the profits.

The SKILL that is attained through experience is basically doing the opposite of what the masses are TAUGHT or SHOWN to believe.

You are buying and buying into a stock that has finished its long term price momentum only to see yourself losing all your money and the shorters taking it because they anticipated it and vice versa.

You need to be IN the move before it happens or be in very early to maximize returns and NOT when its finished 40% of it.

Unfortunately our media both online and offline teaches the wrong things.

It took me around 2 plus years and a loss of $40k to realize the mistakes.

Now I have the edge and want to keep it intact and want others to be confused and in the millions so that I can take their money. That is how the game works.

I do not want people to do the right thing because then the select few lose the edge.

Edge, edge, edge and then experience is what is going to differentiate between a $120 or $120,000 pay check.

Good luck with your search.

 

[Shakone]

And also this Industry is based on people losing and misinformation.

Read the following very carefully.

You cannot make money in the markets if every one is on the correct side of the trade. The edge would be lost. If every one knew the game and its rules market would not exist.

The market is designed to take your money which means it is designed in a way that higher volume flows on the wrong side so that the select few that know the rules end up taking in the profits.

The SKILL that is attained through experience is basically doing the opposite of what the masses are TAUGHT or SHOWN to believe.

You are buying and buying into a stock that has finished its long term price momentum only to see yourself losing all your money and the shorters taking it because they anticipated it and vice versa.

You need to be IN the move before it happens or be in very early to maximize returns and NOT when its finished 40% of it.

Unfortunately our media both online and offline teaches the wrong things.

It took me around 2 plus years and a loss of $40k to realize the mistakes.

Now I have the edge and want to keep it intact and want others to be confused and in the millions so that I can take their money. That is how the game works.

I do not want people to do the right thing because then the select few lose the edge.

Edge, edge, edge and then experience is what is going to differentiate between a $120 or $120,000 pay check.

Good luck with your search.

Sounds like nonsense to me. The market is designed to facilitate trade, not to take 500 quid off some idiot retail player.

 

[safvan]

Sounds like nonsense to me. The market is designed to facilitate trade, not to take 500 quid off some idiot retail player.

You did not get the point I was trying to make. Never mind. Not understanding the game is what is needed in the business of speculation for the select few to make money.

 

[Masquerade]

Pipsaholic

How many people that get hired by prop firms can't make money and end up leaving? According to the Schneiders thread only a very small percentage make it.

Yeah...because it's ridiculously tough to make it there. They make people trade spreads so you're doing at least 2x round trips for every trade. Then if you start doing flys/condors that's even more round trips. Not to mention the desk fees they take out of your account and the low limits they give people to trade, so no wonder most people are out within a year there.

 

[FUTEX]

Trading is mostly speculation. But the Markets are most certainly not just for speculation.

It is precisely because the Market is not just for speculation that it is successful and it survives.

Remember equity markets Primary Funtion is to raise capital. After that one can invest for dividend and growth, typical strategy for pension funds. One can use strategy for hedging, such as commodity futures. There are many layers before you come to pure speculation.

To re-iterate, it is not possible for money markets, commodities markets, foreign exchange, etc, to exist, in the liquid form it does, solely on speculation. Trading as discussed in these forums is a very small percentage

 

[FUTEX]

So when a country buys buys dollars to settle its balance of payments its speculation is it?
When China buys Australian dollars to pay for its mining imports is speculation is it?
When a oil bill (which is in dollars ) is settled its speculation is it?
I could go on and on but I think the point is made.

Trading is not mostly speculation!
It is only speculation at retail level!

Yes there is a level of speculation at the higher echelons but not on the same premise as the retail level.

perhaps you might like to re-read my post more carefully, we are in agreement. However, you should note "Trading" as per the definition of trading applicable to the users of this forum is speculative. If you wish to expand the definition of "trading", then I am also in agreement with you.

 

[FUTEX]

Lol
My apologies I only digested what you said after posting and was too lazy to change my post or rewrite it.
I suppose I wanted to get a discussion going so much, that I did not like I say above,fully digest your post before replying.

no worries! Its a common mistake we see at Futex that when trainees start "trading" they think that is all the market is, i.e. Just a bunch of speculators cancelling each other out.
Of course if that were the case, there would be no markets. Thats why I wanted to add something to this thread. The markets is multi-complx, with multi-users all woking towards different goals.