What to Do Now?

Discussion in 'Prop Firms' started by jellob, Feb 26, 2008.

  1. jellob


    I was prop-trading at Hold, between January and September 2007. Although I had to leave as my bills are piling up, daytrading never left my blood. What went wrong at Hold was that my mentor did not have a good system. The parameters and risk management measures were not precise and often he would tell me to just take a position and see what happens.

    Fortunately, since the firm was backing me, I lost only my time and effort. Nonetheless, I learned my lesson and decided to look for the right firm and the right system. Who do you suggest that I look into? So far I have looked into the following firms:

    1. Keystone but I am still reluctant to put down $3K for the tuition.
    2. FNYS: I submitted my resume but they appear so exclusive that it seems like a waste of time.
    3. Dimension: They may hire me as an admin and then let me go back into trading later on. However, I know nothing about their traders.
    4. The safest, but the least appealing, option is to get a real job and trade again in two or three years.

    I do not mind working a part-time job while trading during the day, but, like I said, after my first experience, I am looking for the right system. What do you suggest or do you think that I am overestimating myself? Thanks!
  2. I think your first mistake was to try to use someone else's trading system .... it works forthem but obviusly it did not work for you.

    Figure out a plan that works for you then go back to trading. Manage your risk at your personal level, then the winning trades will happen accordingly.

    The key is to research and create your own trading plan.