Hi! I've read up on this whole THT thing and it sounds like something I might be interested in if only they didn't trade equities. Equities just seem too volatile and unpredictable for me. What I do like about THT is that they give you structure and some sort of oversight/training/goals - that can be difficult to acheive when you are trying to learn how to trade your own money at home. And they don't charge a dime for any 'training' or 'mentoring'. Just a trading screen and a chance to try yourself out. Would be even better if they had a good simulator on which you could play for a couple of months. I've got enough to live in Chicago for 6 months so that would suit me just fine. I am more interested in trading future spreads - interest rates, caledar/butterflies on commodities - anything really as long as it's not equity index futures. Could someone point me to a firm with a similar business model but trading futures instead of equities?
There is a firm - TopStepTrading that will fund you but its index trading not spreads like you are mentioning. I do not know of any firms that trade that style who will hire you/fund you unless its a fund/family office and even then you will more than likely need a P&L. For anyone looking at prop trading stocks - Bulls On Wall Street has a good program - I was just in LA last weekend and spoke with the CEO, Kunal. I don't day trade stocks so not for me but anyone else looking their set up was a thousand times better than the prop route - at least these days.
thx for that. I haven't got a clue how you can daytrade equities or index futures and stand a chance - perhaps there are some 'hotshots' who can manage that but it is something definitely not for me. Spreads - I think I could stand a chance getting some money out of that. I have a couple of ideas in my head and what I really need is an environment where I could develop these ideas into something workable and see if they work at all. Doing it alone in my house is something I am trying to avoid - it takes too much time and I keep feeling like I'm forcing open doors that other people have opened years ago. So if anyone knows anything of something similar to THT but doing spreads - please speak up!
Day trading equities is impossible. I've been at this for 6+ years. Too hard anymore with HFT - there are some guys who are really good at it though but there are easier ways to slice brea. You can trade ES/TF on a 1-2 lot and do well - it just takes practice. If anything just keep it simple and futures are your best bet, IMO. Good luck. Dan
Interesting that ES/TF spread I assume a 1 - 1 ratio? Do you 'do well' from 8:30 - 15:30 Eastern Time or outside of these hours - seems like two totally different things. All I have now is eSignal so I have no idea of telling if the bids/offers are there - just historical prices and these tend to be very misleading.
I think the way these firms work is that at some point they offer you a training course, isn't that how this works. You pay them to train you, and that's how they make their money. Either that or they get you to get your mom to invest 20k to be your first customer. You drive the account to zero, they keep the 20k
That and commissions - Its a good deal if you are serious but most people are not. Yea - after 11:30 EST the market is dead - 3-4 EST works and then London open works for Crude.
there are many firms like that here. you get backed and get % of pnl. I dont know about training programs other than with options focused firms.
Yea - I have zero affiliation with the Bulls On Wall Street team but their set up is the best i had seen for equities traders. You have to take their course and they give you risk/capital but its legit.