How do I continue on where I left off ? Whats next ? Need advice.

Discussion in 'Professional Trading' started by neveral0ne, Mar 29, 2010.

  1. Hey ET,
    Some of you maybe have seen my other pretty big thread about how I started trading in late fall in the other Prop shop. Well their rules have changed and in February we were "FORCED" to trade a greybox automated system, which was not profitable and we were used as test subjects basically since it was in their beginning stages.

    Moving on...I left that place now for the past 2-3 weeks I havent been doing much. I do not want to waste any further time.
    But I do not know which firms to look for in the NYC area, whats the max capital contribution I should make, what kind of payout to expect/ask for , and if I should look for firms that offer cheap commissions or firms that have "training" of some sort.

    So far I have applied to these firms, this last week:

    Chimera Securities
    Broad Street
    First NY
    Bear Capital

    Most of them had some sort of "entry / novice" trader wanted posting on their websites, therefor I took the initiative and sent in my resume, a terse cover letter, and some information about my trading experience at the last firm I was in.

    I'll wait it off this and possibly next week hoping to get some fort of reply from them, if not what is the next stop I should be going for ?
    Does anybody in NYC area is willing to vouch for any firms that you are in ? Trying to set my self on the right path, if anyone has any suggestions please let me know.
  2. you sound honest, why not just study for a series 65 or something and move on with that part of your life?
  3. WEll I do have a book for Series 63, what you mean move on ? I want to continue my journey/carreer as trading...I've only gotten my feet wet for 4 months, which was awesome, until they made me trade a grey box. Manual trading based on technical approach has been very interesting to me and more successful, I just would like slight pointers/guidance on what to do next and where to go what to look for...
  4. Trade futures, forget stocks.

    What I mean is learn futures first and then trade them

  5. I'm learning a bunch by studying ES, then applying that knowlegde to other instruments. ES is the hardest thing you can trade because it's so damn noisy and unpredictable, so if you can make any sense of it, you really have something you can use elsewhere. Kinda like the old saying "the guy who flunks out of Harvard is still smarter than the guy who graduates from community college."
  6. Well, futures is something I would consider, once I am profitable and consistent and understand how stocks move.

    Basically the inverse of what youre telling me.

  7. I don't understand WHY you have to be profitable is stocks first?

    Is this some arbitrary rule you came up with?

  8. No, but I think stocks are easier and less volatile then futures. At least thats what i was told/recommended.
  9. But which element I trade isnt the topic of discussion in this thread...regardless of what I trade, I have other obstacles to conquer first which is finding a "home" ...
  10. Ok, maybe you aren't putting these pieces together but what I am saying is you don't need to find a 'home' as in a prop firm, you can trade futures from your own home.

    Of course you'd need to open an account and fund it, and learn a futures mkt but you wouldn't need to 'apply' to any firms.

    #10     Mar 29, 2010