Hi, so I am a recent graduates and I have been trading with parents' money for almost two years. I trade stocks and futures mostly, and my most recent plays was overleveraging on DAX futures which sent my balance from 200K to 300K. Of course I understand that if it went wrong I could have easily halved my portfolio, which is why after that lucky bet I became extremely cautious and want to learn some risk management by trading with a Prop Firm. I use IB and in some active months my transaction fees are over 20K. This being said, do you think my experience qualifies me to trade with some prop firms? Also, if any one can recommend some firms in the San Francisco Bay Area I would greatly appreciate it. Thanks.
I hope your being flippant. SF prop firms would expect you to use plural form correctly and to use proper grammar even if you are just applying for a trader position. Did you graduate from a US school?
Take a small portion of that 100k profit on the "lucky bet" and either get your Series 56 license to trade stocks remotely through one of the handful of remaining registered prop firms in the U.S. (where you will have daily stop out limits to prevent a blow up), or enroll in a futures trading combine through TopStepTrader where you will have to follow very strict performance metrics (which will force you to maintain a structured trading plan and learn risk management). Either way you have plenty of profit to work with in order to figure out which is best. As far as the Bay Area, I'm not sure if any prop firms have a home office around SF.
Given that his transaction fees are $20K, I would like to think that he had a large number of trades and his method is statistically significant. Also, a young guy admitting to over leverage hints of trading maturity. This guy has raw talent. It would be worth a look to see his PnL metrics in a private PM, if one of you is hiring. My opinion is that if you want to make a career out of this, you go to Chicago or New York. The Bay Area is a beautiful place. But, Tech is the thing to do there.
Yeah, I like what's implied by the fees. But putting on that much size for that account isn't what I'm looking for. And reforming that behavior takes way too much time. I know one other trading firm here but they wouldn't be interested either. @OP. Get off IB and focus on reducing fees.