Actually we frown on "buying 10 times more shares" or anything like that, quite the opposite. The BP allows for engaging in strategies that work, lower risk, higher reward, but more capital intensive....like opening only orders, pairs, mergers, market making etc. vs. "stock picking" or "guessing market direction". Don
We have groups, both "live" and online, mentoring, etc. the comaraderie is vital to success IMO. The "lone wolf" tends to miss opportunities, but when you have many sets of eyes looking at the market, it simply helps you. Being around long term, successful traders is what everyone has been asking for, and we have responded with several plans. Feel free to call me to discuss any of this. 702.739.1393. Don Don
Not realy, unless of course you want to be a lone wolf, your choice - see above post... (I probably should have read all the posts before answering, sorry). Don
You need $15K to trade remotely, and yes, there are intense training classes all throughout the year. In fact, we're setting a whole new, additional group in NY to facilitate this effort. (stay tuned as they say). Don
We have successful traders teach our classes, both young and older. Continued mentoring is achieving excellent results. Speed is not a big part of trading, IMO, since maybe the "video game" scalping days of the 1990's - (although we strongly suggest to our remote traders to have high speed broadband, of course)......doing "day" trading vs. better strategies that require programs and large data bases...our Vancouver groups are an excellent example, as will our NY group coming into the fold. We are probably the last true generation that can bridge the gap between successful floor trading of most markets on several exchanges with some of the latest strategies and technology. My brother and I still trade daily, and our newer, younger guys are "tearing it up"...makes us proud what these young guys are doing. All the best, gotta get set up for our morning chat session...we do this before the opening every day. We have our analysts in NY, Vancouver, Remote specialist, and me share the day aheads info. And, thanks for the emails and PM's, keep them coming. Don Don
I have to disagree with those that say prop firms don't train. There are many firms out there that will sit traders next to guys that consistently bring home checks. You can't put a price tag on that. If you try to do this business by yourself I think the failure rate goes from 80% to 85% to probably 99%. I'm sorry, that is a cold hard fact. Find a good firm, and find a good group within that firm. It does not guarantee success but it does give you the best odds. what more can you ask for?
(You and I have spoken about this before). It's kinda funny, that so many newer people, and even "experienced" traders, always ask the same question: "Can I just sit next to a really good trader and watch and learn?" And, then we make something like that available (whether it's you with your guys, or our mentoring, whatever the case)....always some who question the validity of what we do. Brings to mind something like not being able to be all things to all people....but, since we are successful at what we do, and the traders can learn a lot, I suppose we'll keep at it, eh? Anyway, how about that Goldman Sachs? Having dinner tonight with our "big boss" at GS, who flew out today for a visit...I guess they can afford to pay the check, LOL. Don