I'm in my last semester at school and I'm seriously thinking about doing some remote trading part-time with an equity prop shop. For those of you who are already in the business, how much of a time commitment is it? Is it doable and worthwhile for me? What are things that I should look for in a good prop firms? Thanks.
This is a wonderful idea. Trading is realy easy and doesnt require complete focus. Seriously this might be one of the WORST ideas I have seen posted on this board in ages. Unless you just want to piss away some quick cash.
Lets just say I was trying to do some swing trading my senior year and lost a few thousand because I was working, going to school and the gym. Trying to day trade is pretty much impossible.
My priorities were to study (just enough) & chase girls in my free time. Sometimes a soccer game, of course...ah the good old times!
Depends on how confident you are, if you a position trader or a swing trader then u can definitly do it part time. Day trade i wouldn't suggest as was said u'll just blow ur money away.
I'd say It all depends on your schedule, class & work load and the style of trading you are planning to do. If you have a solid block of time every day during the market that could be devoted to the trading, a daytrade style may be suitable. For example, if you could trade 9:00am-10:30am EST every day, doing just opening only trades would be a definite possibility. If your strategy lends itself to the use of stops, trailing stops, and hard targets, a swing style might be possible. Just be sure that you have the adequate time to build your trading plan, do the necessary research, execute the trades, maintain your plan, do your daily log and review. If you don't have that time available, I doubt you'd have success. I've worked with a number of traders who did just what you're describing. Some succeeded, some failed. Cash