Trading ES in a prop firm?

Discussion in 'Prop Firms' started by FranklySpeaking, Jan 27, 2007.

  1. Nattdog

    Nattdog

    "ES have to be one of the most untradeable markets out there. And anybody good enough to make money in them, could probably make 10 times the money with a more diversified game."

    That is funny. the es is my favorite market to short term trade. note i didn't say day trade.. it is so uncomfortable to realize that many opportunities open up if u can hold a position just that bit longer.. Note that I didn't say jump on the crazy train to glory.. this is a market often about feet and yards, like running the football.

    Think about it. this market, more than most anything, is tied into the crowd mood or psychology of the market. The public wants to buy funds at highs when they feel regret for not being involved, and want to sell when it is scary. the sp500 funds must track the whims of the public, in order to manage their exposure. The smart money is by and large controlled by the flows of customer funds. Customers want to put more money to work at highs, and want to withdraw at most lows. The day trader is afraid to death of holding overnight, and is controlled by that fear. losing alot on a trade scares to death. the fears of various participants, be they the longer term holder or the overleveraged fear of the day trader, create opportunity for someone with a different perspective.

    It reminds me of a poker match against tight players who fold too often.. Lean on them to take their money, just be careful to have a back door exit to prevent being trapped... or even better set enough aside for when are!!
     
    #21     Jan 30, 2007
  2. Thanks for the info Maverick.

     
    #22     Jan 31, 2007
  3. We "screen" by asking some basic questions about arbitrage, options expirations (quadruple witching and all that)...FV relevance, and most importantly to make sure that they realize how difficult it is to trade the "leading indicator" vs. the (more) easily traded lagging stocks and other equity based techniques. We do our best to protect our traders from themselves whenever possible, as any good "partner" would do (I would hope so, anyway).

    75 cents round trip (approx) vs. $4.00 or more round trip is hard to compete with.....but, as Mav says, his guys are good at scalping and overall trading of them...to each his own.

    Yes, REDI has futures and options as well as stocks.....

    All the best,

    Don
     
    #23     Jan 31, 2007
  4. Hey Don
    thank you foR your time
    I think redi is a great platform and i know u have a strong balance sheet:D
    So if u can give me your direct # i would love to speak with you
    Also is it possible if i can get a demo of your platform
    Astrologer
     
    #24     Jan 31, 2007
  5. Maverick74

    Maverick74

    Don,

    Don't you screen all your traders regardless of what products they trade? Also, what is the 4.00 vs .75 comparison for?
     
    #25     Jan 31, 2007
  6. From old threads...
     
    #26     Jan 31, 2007
  7. Mav, I respectfully disagree.

    As you know I pioneered being the wise-guy mean reversion f(tr)ader, lol. You've seen the damage I can do to an account by fading ES moves. :p

    Index products are the WORST product for that style of trading. A few points.

    How many commodity, fixed income or FX markets can rise by 10X as the indicies did during the 90's?

    What other market closes at it's day's extreme (on LOD or HOD) more often than the index?

    Memo to Hog (no pun intended), Beans, Sugar, Cotton, Bellies are trading at the same freakin' prices as when I entered this biz in the late 70's. Where was the Naz Comp in 1978?

     
    #27     Jan 31, 2007
  8. TGM

    TGM

    http://www.the-tca.com/


    This is a great london shop. They are looking to add a location in NYC.

    They have some of the lowest rates I have ever seen. (like under.28 for eurex...)
     
    #28     Jan 31, 2007
  9. Maverick74

    Maverick74

    Well, I stand by my statement that I know of very few successful futures traders. However in the last 6 months I have made a change in my opinion of the viability of futures trading.

    I have developed a trading methodology based off of one of the most, if not the most successful oil trader in the country. I modified his system to fit the index futures markets.

    I stand by my statement that the failure rate for futures is probably considerably higher then stock or options guys due to the leverage involved in futures trading.
     
    #29     Jan 31, 2007
  10. TGM

    TGM

    the failure rate for futures is about the same as the failure rate of Fat people who loose weight and keep it off.

    Interestingly enough, I have traded on trading desks with plenty of successful futures traders. All of us doing radically different stuff.....but all profitable at the end of the year. One thing to note, either you will be the only successful futures trader in your area OR you will be around a bunch. Successful traders tend to be lone wolves with 'pack' tendancies.
     
    #30     Jan 31, 2007