any Prop firms hiring.?

Unless you have experience trading won't the Prop Firm demand you pony up $10,000 to $50,000 of your own capital to cover potential losses? I got a email from a firm offering to train me (I could use some additional Risk-Management pounded in my brain, I had some very beautiful trades last week but I allowed most of my profit for a ten-day Swing-Trade to destroy most of his profit because of two really stupid trades. I was up $1700 for the week (Previously I was up $7000 on my CONN, V, MA, AKS, X Calls until I deviated from my plan and threw away $5300 trading some radical stocks I had no business involved in.).



I wonder if a Prop Shop would help me to get my Risk Management under control? Overall, I am profitable but allow one or two trades to come in and hammer me after playing 9.5 out of 10 trades by the book. I wish I could destroy that little demon who pops in my head and erodes a good, one to two weeks worth of Swing-trades. It's very frustrating, hope you get a job with a prop, I will try to look for the email I was sent offering to trade the firm's capital and not my own, if I spend over 300 hours on studying their culture and taking test (Series 51? Exam?) they will allow me to trade.



If I was to join a Prop Shop do you think it would be a good idea to show them how consistent my win-loss ratio is or would it be best to pretend I know nothing about trading and allow them to teach me, act like I have no preconceived notions or presuppositions about Trading? I did not see some of the Firms that usually claim you don't have to provide "Trading Insurance (skin in the game)" on your list, hope you get a good job dude!

 

I wonder if a prop shop would give me leverage, allow me to hold overnight, sit thru 20% losses and then hold thru 400% gains the way I did this year?

Or, would they let me hold for weeks of pyramided profits?

If not, I'll continue what I've been doing.

 

I went through this exercise once before with you;

Now where did I place that definition of insanity (there are actually 2)

Repeating behavior – yet expecting a different outcome

When faced with realty – denying it exists.., and/or attempting to alter it

=================

Ever wonder the countless that could have traded successfully…, save for that 1 bad trade…, save for that 1 loss they kept resisting – over…, and over… and over…, and over…, and over… and over…, and over…, and over….

Fact is;

There are no bad trades…. simply bad trade mangers – which equates directly to bad self managers

================

So, here’s the skinny;

Until… and unless;

You get fed up and decide enough

You get fed up and decide to own your flaws/ inadequacies

You get fed up and decide to mature

You decide to change you

You change (deciding is never enough)

No amount of external prompting / prodding / coaxing / influence / pleading / coercion / whatever – will have any affect

Up to…, and including mine... or a prop risk manager's


I don’t fancy myself as insane – so this is my last and final

Possibly??? you’ll decide the same sometime soon

=================

Please consider this post rhetorical

You either will…, or won’t – no skin off my ass either way

RN

 

Redneck,

What he needs is some discipline from a firm but loving hand. I think the type of ladies below may help him learn the financial and emotional discipline he needs..

If not....... Well he will be sore for a month to remind him of what needs to be done.

 

If you join a prop firm you have to fill out a U-4, which requires you to disclose any personal accounts you have, and which allows them to see your account records, as well as get notified of any activity while you're employed there. So, I don't think it would be wise to try to "pretend."

 

These guys might not be as good as topstep but you may want to give them a try.

http://janestreet.com/
http://www.schonfeld.com/
http://www.firstny.com/index.php

 

Thanks!

 

Redneck and Satan's Helper, what do you guys charge for a hour of deprogramming of bad trading? Thank's, it's hard to get bad things we hide deep inside our brains or refuse to acknowledge we have trading mental problems. The bad Trading-Traits that are waiting to pop their ugly heads out. My guards were weak last week, those mental sentinels failed to keep the "ugliness" behind my dark mind. Thank You, thank you both and Happy New Year!

 

In all seriousness, it is your trading style that is the issue. It is not suited for your personality.

You don't like taking losses and gamble with bad positions. That works most of the time until that 1 out of 10 gets you and BAM you loose it all.

If you have a tendency to ride out your bad trades until they come back then you need to be spread trading where time is on your side.

If I were you I want take either the Bright training classes or talk to the Spread Proffesor that used to sponsor a tread here.

http://www.spreadprofessor.wildapricot.org/
http://www.stocktrading.com/index.php/menu-styles

or at least look at something like this http://www.pairtradefinder.com/

Either way you are fighting your personality and that is the real issue. Changing your personality is not exactly going to happen so just take a new approach to trading.

 

I do need to destroy the fool who lives inside my brain that will ride a losing until it's almost destroyed all the profits my other great stock and option trades provided me. I need to stay away from short-dated options, those are not benefiting my long-term approach to strong stocks and use deep-in-the-money options to mock their price movement, dollar for dollar.


Thanks for the link and hope you have a hell of year!