If I was running a prop shop I would want my traders making money. I would not want them setting around trying to figure out how to trade on their own. It's totally understood that every trader must find his own way and methods that jive with their inner soul. But again it would be in the shops best interest, that trader makes money right out of the gate. If I was a budding trader I would want make money trading even if it was taking direction from someone. Lasting in the game as you find your way is paramount to becoming a trader. Am I wrong so far or is it just throw them in the water and see who swims? So since I would imagine prop shops tout they will give you the best tools a trader needs to start out etc. Does the failure rate mean that some prop shops are not sharing what they know about making money or is it that the traders don't apply that knowledge? Why would a prop shop with the right crew not basically own the world?
Too bad he has me blocked. He won't see this post where I'm recommending him getting in touch with the star trader at Axia futures making $100k per day.
The guys selling picks and shovels to gold prospectors in California in the '40s didn't tell them where the gold was. Because their business model was supporting the dream, not the reality. Save now as it ever was.
I guess the modern day prospect suppliers would also be providing the gold maps and video instruction tutorials. lol
What prop shops are you talking about? Why do you think they have high failure rates? I think it's pretty simple ... There are shops that will not take you unless you can contribute something. And then there are those that will take pretty much anyone. I think many of the edges that prop firms used to have have been automated away. Some were automated away by prop firms with superior technology.
Depends on the firm. Teaching trading successfully relies on 2 skills. The ability to trade AND the ability to teach. Some prop firms have really crappy educators and their churn rate is huge. Some are better at it & their churn rate is moderate. They do usually start off with bread & butter stuff - but it's hard for a good trader to not end up developing their own edges given the fact they are sitting in front of the markets all day and they already know the type of things to look for. I don't know any firms that just throw their traders to the wolves - but I do know some with such poor educators, they may as well be.
Went to Jigsaw website. Leader board only shows weekly and monthly "leaders" where are the year stats and multi year stats ? Thank you