Nothing wrong with Proprietary Trading Firms as stated before. Those that are looking to go prop without capital or have very little capital...the combine is a possible way for them to get their foot in the door of one particular prop firm assuming they're able to navigate the strict rules of the paper trading adventure. Then if they're able to get in, they must adhere to stricter trading rules via that particular prop firm's compliant office and profit sharing. I have a few close personal friends and one family member at proprietary firms for a few years now in Europe and Asia. I don't know much about what's going on in the U.S. so I can't really say too much about that. Anyways, my friends have all tasted the good and bad about prop firms and currently settled down with firms that they like in comparison to prior firms that felt like bucket shops. Also, be careful not to get Prop firms mixed up with Trading Arcades depending upon where you're located at in the world. Nothing in the U.S. would attract me to move there and go prop (seriously). Some useful links about prop firms for those looking to trade at a prop firm. http://www.fow.com/Article/3195536/The-changing-dynamics-of-proprietary-trading.html If someone needs a prop firm...here are lists: http://www.traderslog.com/proprietarytradingfirms/ http://www.prop-trading.com/proprietary-trading-firms/ ***** As to someone having a second source of income, I liked Maria Sharapova's creation (candy store called Sugarpova) @ http://www.mariasharapova.com/sugarpova.aspx She has many stores in the U.S. but will soon start in Canada, Europe and Asia. I got the patience of a turtle when if comes to candy, I can wait for a store to arrive in my side of town. *****
Come on surfie, do the combine once more. Old oraclewizard is the most recent to disappear into combine myth & legend...no updates I fear the worst. It could revitalize your surfie alerts thread and shut-up the naysayers.
Nothing wrong with prop firms? How else do you suggest noobs learn the business? Good prop firms teach real edges and its the best way to learn to trade. By the way looks like Sharapova took the candy idea from Ralph Lauren's daughter Dylan; http://www.dylanscandybar.com/ surf Ps-- there's someone who certainly doesn't need any money, but she still has a succesful business ---
Yeah, your right. After this baby thing settles down, I'll give it another shot. Folks don't remember that the price drivers earned me around $3500 on the first day of the Combine. The most ever in a single day, I think. surf
Your journal is useless for this purpose as your main point is, after the entry, money management is how the money is made. You do not provide evidence you have entered the trades or how those trades were managed. EVIDENCE.
Oh dear, that reminds me when I'd embarked on a complete "reset" of my trading and decided to trade really small while I actually learned to trade properly. Someone posted a reply to one of my small P/L reports, something to the effect of "what happened to days like this?" followed by a $3200 day I had in fall of 2008. What they failed to notice was the -18,000 day not long after that. Surf, a robust system is based on the results of more than one trade. What happened in the combine the next day? As much as we'd like to be able to have our brokers retain our winners and discard our losers, that doesn't seem to be an option under the "Configuration" tab