C'mon ,Ig0r, you know the advice you are giving isn't correct because you know me. It is very possible to make good money your first year as a prop trader. I made over 250k my first year. It's not about quantitative or analytical strategies, it's about using the STRUCTURAL ADVANTAGES you have as a prop trader. These advantages include using the leverage you are given to exploit small advantages others can't afford to touch---and doing so repeatedly. Another advantage is watching the markets all day--being there when something happens. Figure out what advantages you can get over "the other guy" and don't get involved in the murky world of quantitative BS unless you are a PHD and have a programming staff. It's just simply not that hard to make money.
I think you should be looking in to trading the forign exchange market I know that it's very hard to make money day trading stocks these days , the big moves are gone . I'm not saying there is absolutely no money to be made , but comparison with the FX market stocks have died out. Follow the currencies for a little bit and you will see the difference.
I think GoldenChild is ging too far with the Totall Nonsence and False Statements he is posting after every one of our posts or comments. Very Cheap and Unprofessional.
all, thanks for the replies, BigFatSlob, congrats on your first-year performance, that is truely remarkable, yeah the trick of proprietary trading to to develop a strategy and do it repeatedly, this strategy will be monitored and modified along the way based on market condition. My initial inquiry is to find out how long this strategy of yours takes to develop, and I know this is probably not a part-time job that you can do in your spare time, this is not a buy-and-hold investment style (which I have been doing for 7 years), one has to be watching the market, learning how to re-act and desseminate market news on a constant base. I actually spoke with a few traders at Barkley and Assent, I will be starting working for one of them here in New York in a month, does anyone know anything about these 2 firms? do you have any suggestions? Thanks
Whoa, ok, whatever. So what do you trade, when exactly did you start trading, how soon did you get profitable, what were your down days/weeks/months like. If you really made 250k your first year, well I would love to hear details.
Assent is a good firm they are also known as Andover they were bought out by Sunguard about 2 years ago Their Hammer platform is pretty cool