Im an individual trader mostly trading major currency pairs on a short term basis (10 minutes - 1 day) I have run my original stake of 1100$ into $8700 since july. I know I am working with small amounts of money but is it possible to be accepted at a prop firm based on a track record of lets say 12 months ? ( I trade until next July and approach them with my track record) I have pretty extensive knowledge of the markets I first got interested when I was 15. I do not hold a degree in finance or economics. (I just turned 20) I am looking for a career in Hedge Funds and money management. Thank you
F*** the degree, f*** the prop firm, and f*** the hedge fund. Just keep doubling your money every month. In 5 years you can retire.
Love attitude I don't think that will be possible once my account grows to a certain level. The only reason I'm profitable is because I can get out of a 10x leveraged position that is going against me within seconds that wouldn't be possible with a $100,000,000 position without being slipped. If I doubled $1100 every month for 5 years I would end up with $1,268,213,655,067,531,673,600 :eek: Trading my account forever is still an option of course.
Since you are not in the position of not being able to get out of a trade, I don't see where the problems is. Would trading for a hedge fund solve that problem of not being able to get out of a large trade ? No it doesn't. Are you BS'ing or can you really double your money every month ? Might it not have been luck ?
Trading for a prop firm would mean a real income until I can have a real grubstake to go out on my own. I can't really live off my current trading income nor would I want to withdraw anything. The only reason I had large returns is because i took outsized risks trying to grow my account. My account went from 1100 to 2400 on a single trade back toward the end of july because I didn't think of the $1100 as real money I don't take such risks anymore. I was leveraging up 100 times back then now I only use 10-20X.
Also I don't think I could double my account every month without serious drawdowns that would affect me psychologically.
Ok, then your results are not as impressive as first thought. But then the results needn't be impressive to work for funds. If you can consistently make 20% a year, that will beat most funds out there. Go make 2% return a month for 2 years. You should then be able to show people at funds what you can do. 2%, how hard can that be ? As it looks like you won't be the next Jesse Livermore, I'd suggest you go get a degree, at the same time make 2% return a month. Can't be that hard.
I don't think they will be interested in someone 2% per month for 2 years on a 4 figure sum. $1100 to $1769 seems laughable in 24 months. Maybe if it was $10,000,000 - $17,690,000 that might make an impression but small sums i don't think so. Im thinking of growing my account to 6 figures over the next 12-18 months, which I think is possible with my biggest drawdown only being 7%.
Tell me, why is it you are able to grow the account to 6 figures from this point forward but were unable to do it before now ?