Im 17 going to be 18 in june and wondering if I can trade prop remote from my home or an office near by. I live in rural Iowa so going to a major city during the summer is out of the question (believe me I have already asked my parents). The main reason I want to trade prop is for the leverage I can get and also just to experience it. I want to trade for a firm that would allow me to trade physical commodities like softs and grains. Do any prop firms do this type of thing? If they do can anybody point me in the right direction. Thanks
silver thanks for the reply but I already thought of this. Yes at my age not many in this industry take me serious but I believe numbers speak for themselves. Im a very profitable trader although I have much to learn and to be honest I have a feeling my folks are going to cut off my trading so I can save what I have made for college (overated imo). I am looking for a firm that would provide me with enough capital to trade and also let me trade remote from home.
you could trade index futures , you get enough leverage for it more than a prop firm almost, im 18 too hehe
very profitable at 17 years old? unless you are some kind of trading prodigy (they exist) let me doubt that. Most experienced traders with university education requires YEARS of diligent trading to become successful. if you are a trading prodigy then the guys who run the firms will see it immediately and they will throw money at you for sure. However, most likely they wont let a kid play with their money. im curious about what you call very profitable. is it too much to ask to post some kind of track record or something like that? i would really like to see if you are the next trading superstar.
silver thanks for the concern. Yes I am very profitable trading (not bragging but telling the truth). So far this year im up a little over 100% on a $10,000 account. Check out my journal called youngtraders commodity journal.....how origional I know lol. I am mainly a position trader and do very very little day trades. University education does not matter a bit in trading. I have yet to hear of any college teaching you how to trade. My trading experience has been mainly through my dad (I trade through his account because im not of legal age) and just plain trading. My dad has been a big help to me over the years and continues to guide me the right way. He is a very knowledgable person although our stratagies differ greatly. He is a major player in the commodities markets, especially lumber (held 12% of the open interest once). Once again not saying this to brag but to tell you where I am coming from. I bought my first shares of stock when I was 11 and scalped low volatility stocks during the summer of my 8th grade year. 2 years ago I eventually came to commodity trading because of my dad. It has been the most exciting and challenging thing I have ever done and I continue to learn everyday. I know this all is hard to believe and even the guys that know me still are a little reluctant to take me serious but I just want to be put on a level playing field with everyone else. Thanks Again
all i can say is welldone and that there is no rush to get into anything right now. your way ahead of most people when they were your age. i turned 19 this year and have given up on the idea of trading for someone else. for now im working purely to build up my own trading account. which will be used to trade a few mechanical systems im building. i'll suggest this but... perhaps you could find a good private trader and ask to do some work for him for free. you may gain some invaluable experience. good luck.
YT - While I feel strongly you will do well (having read many of your posts) you may have a hard time getting a prop firm to give money to a minor to trade. Once you turn 18 your track record should be enough, but I imagine your parents would have to guarantee the account until then. You seem very enthusiastic about trading and also seem to know a lot, unlike anyone I know of your age. You're lucky to have your Dad as a teacher, and to have the understanding you do already. Let me know what you find out. - GD
wow nice work there, i read the journal and i am impressed. nevertheless, if you cant get a prop firm to hire you, you can get leverage by signing on customer and keep 50% (or more, i ask for 66%) of the account growth, monthly. get 10 peeps to invest 10k$ each with you, heres your leverage. keep on the good work, at your age, youre ahead of a lot of 50 yo guys with white hair. im 28 myself, started trading at 24, cannot believe how far i would be today if i started at your age.
also, the fact your only trading such a small account may be a set back for you. trading will be ALOT more emotional and harder with a 200k account rather than a 10k account. that may be in their mind. dont let any of these problems get in your way but.