Curious About what they teach you at prop firms

Discussion in 'Prop Firms' started by ChrisMMM, Mar 12, 2007.

  1. I've never done been to a prop firm, and probably not going to consider getting into one. I'm content going solo doing my programming thing However I was just wondering what do they teach you there? Do they teach you a strategy on how to beat the market? Or do they just let you loose, and expect you do do your thing?

    Just wondering

    We Have Software!
    . Opening Only Program
    . Basket Trading Program
    . PairTraderEL
    . PairLayerTrader
    . PairRangeTrader... packed
    with every feature!
    Details of Software

    This class includes more content and teaching time than a University Course. Over 84 hours of theory and discussion in addition to assistance and situational teaching during market hours. We work together on actual trades, learning execution and money management. Use our automated programs during the course in addition to learning manual trading techniques.

    Just a start - learning never stops. We focus on working strategies that can be applied when you're able to use a $million or more of our capital, vs. strictly directional stock/index picking.

  3. cstfx



    Is your Boot Camp open to non Bright traders as well? How many times is it offered throughout the year?

  4. Don,

    Thanks for your reply. My first idea was that prop firms are mostly all manual trading, learning though "mostly feel" by using an arrange of indictors. I initally tried that and failed. Then I switched over learning learning to write code and creating specific entry and exits conditions. I've also spent a numerious amount of time understand how to test specific strategies, and the process of optimization. Through many passes at different styles of trading I can say I have finally found my home, I enjoy programming, and love thinking about ways to beat the markets. I don't really enjoy trading per say. I automated all my strategies.

    The only thing is I believe I could benefit working with a group of people who are interested in doing the same thing. I'm here by myself. I have my books, and a forum I correspond with other traders, but if there was a prop firm where people get together to plan and create strategies to beat the market, that is me. I went over to Echo Trade, and it seemed as if everyone was at the computer trading rather than programming and testing concepts ideas. I saw no programming language, no MathCad, no SPSS.

    You mention you have an opening program and other programs. I could be wrong about this, but if others know about your strategies doesn't the dampen the usefullness of them. I can't tell you how many times, I have seen coded public strategies to have then really result in nothing. When you join your firm, do you others see your profitable automated strategies?

    But Don, I was wondering if I'm the type of person who would fit in good at your prop firm.

  5. Do you have DVD's for training? I want to learn your systems but I don't want to sign up with you as my broker.
  6. Who cares if you fit or not as long as you are making money. Are you there to make friends or make money? ANSWER: MAKE MONEY!!

    What a prop firm does, is give you extra buying power for your money. So you can buy 10 times more shares than you normally would without a prop firm. But you also can lose 10 times more. You still have to open an account with them. The prop firm is basically a broker with a fancy name and more buying power. You still pay commissions, software fee's, misc fee's.
  7. You could trade remote from your house so it is really irrelevant about fitting in. It all comes down to what it always comes down to, making money.
  8. That is what I originally thought that prop firms were for MONEY / LEVERAGE. If you didn't have money why not just trade futures, or forex... you'll get more than enough leverage there.

    They only reason I would see in terms of moneywise of joining a prop firm is getting leverage on equities, but I could be wrong

    I already know about the money thing.

    What I am interested in is knowing other advantages of the prop firms. Do people sit down in groups and come up with ideas on how to beat the market? Or is everyone at their computer trading doing their own thing?
  9. Everybody is on their own computer doing their own thing. They don't trade in groups. You are in a group for 2 weeks when you are in training, but after that, you are on your own. No help from anybody. Everybody is worried about their own money, so they don't have the time to worry about yours. You're on your own.
  10. People don't know any better. They don't know about futures or forex. They only know about stocks because it is the most talked about. Just like computers, there are other computer systems besides Windows. There is MAC, LINUX, etc...Lots of others. But everybody talks about Windows and so that is what people go out and buy when it is time to buy a computer, a Microsoft windows computer.
    #10     Mar 12, 2007