Mentorship (4th year still not profitable)

Discussion in 'Hook Up' started by iamnewuser911, Nov 13, 2017.

  1. bone

    bone

    I applaud your work ethic and dogged pursuit - that is a very fine attribute.

    One of the unfortunate side effects of the electronic markets is the dispersion of traders (the breaking apart of trading groups), the end of the open outcry pits, and the remaining futures prop firms heavily invested in quantitative (automated) trading strategies. Gone are the days of the Chicago, London, NYC, and Singapore prop electronic futures firms mentoring newbies - that disappeared in the early 2000's.

    Might I suggest that you research and learn the requisite programming skills that these prop trading firms are looking for, and get on as an analyst or programmer ? (Python, MatLab, whatever they're asking for in the careers postings) IMHO that would open up a sustainable career path for you in the business.

    If that's out of the question, then please change markets and strategies - 4 years IMHO is long enough to prove out that what you are doing and where you are doing it has no future. As an aside, if I'm not seeing satisfactory progress (good to sexy paper trading metrics; discussions about the timing for going live) with clients by month six into my program then something is amiss.

    I truly wish you good fortune and the very best of luck in your endeavors ! Stay strong and remain positive.
     
    #81     Nov 15, 2017
    xwwh2000 likes this.
  2. ironchef

    ironchef

    Why?:)
     
    #82     Nov 15, 2017
  3. 777

    777

    My comments in this thread were mostly geared to US equities

    The book I mentioned covers a bit of what you have been trading, however...

    I would listen closely to whatever Tommo says.
     
    Last edited: Nov 15, 2017
    #83     Nov 15, 2017
  4. qxr1011

    qxr1011

    because neither the founders of the props nor their clients know how to trade for a living

    nothing to learn there, and from no one
     
    #84     Nov 16, 2017
  5. algofy

    algofy

    I agree and in a more general sense I've learned that 99% or more of this industry, at least retail facing is complete BS. Everybody lies, it's ALMOST all a scam. Whoever has replied to this OP in PM and offering to help is prob just a big time suck and rabbit hole unfortunately.
     
    #85     Nov 16, 2017
  6. ironchef

    ironchef

    Just curious, have you trade for props before?
    Otherwise, how do you know?

    Regards,
     
    #86     Nov 16, 2017
  7. qxr1011

    qxr1011

    i rarely talk on forums about myself, and how i know what i know

    disagree with my opinions - your right
     
    #87     Nov 16, 2017
  8. ironchef

    ironchef

    Sorry, not trying to be intrusive. Respect your rights, so forget what I asked.
     
    #88     Nov 16, 2017
    themickey likes this.
  9. qxr1011

    qxr1011

    no problem, thanks for understanding
     
    #89     Nov 16, 2017
    themickey likes this.
  10. bone

    bone

    Nearly all of the proprietary futures trading firms that I'm familiar with are run by principals who for the most part are somewhat legendary in their trading prowess. The equity prop business model I understand to be vastly different though - I have no experiences in that regard.
     
    #90     Nov 16, 2017