How to become a prop trader?

russianking · Sep 20, 2010

Hi im currently 20 years old going to community college, and planning on transferring to a university in Chicago. Depaul is my top choice. I want to prop trade because i really do love trading. I have been learning about this business since i was 14 years old. I started paper trading and now have areal account and average around 50% for the past 6 years. Ive read ALOT of great books and what have you on the subject. I know once i get my foot in the door ill be successful. My question is how exaclty do i become one? I want to work for a real prop firm that pays salaries and bonuses, not one that requires a min deposit and just gives you high leverage. My strategy is very simple i get rid of the losers and let the profits run, and look for trends,bands, or anything technical and I also like to back up technical analysis with a little bit of fundemental facts. My goal in this business is to move on to hedge funds and be a trader there then one day open my own hedge fund. I really cannot see myself doing anything else. Ive looked all over the internet with no luck really. I will transfer to a top 50 but a non target school so working for a bank as a prop trader is out of the question. What should I do? thank you in advance.

russianking · Sep 20, 2010

Anybody? would being from a non target hurt me? Iknow i can trade, but getting my chance to prove myself is what i need to do. There is alot of prop firms in the Chicago area, i know that. Honestly though what do i have to do to get a shot? What kind of internships should i look for at the university as a junior and senior? Ill join a trading / finance club. Try and network with alumni and professors, but prop trading is different from everything else so im not exaclty sure what to do. For me its either prop trading for a firm or just trading my own capital which is next to nothing right now. Im working at burger king saving every penny just to trade.

my personal account started with $2,500 is up ~110% in 2 years(not including added funds)
my virtual account is up ~813% in the past 6 years while the S&P is down around 9%.
I still do trade my virtual account just for kicks because i take on bigger fewer trades in my personal account to make up for the lack of capital but i limit my losses so i never have a huge drawdown. When the market crashed back in 08 i lost ~10% in my virtual account then the following year doubled my money.

exaltedangel09 · Sep 21, 2010

Check indeed.com, craigslist.com and all other job sites and look for prop firms who are hiring.
http://www.indeed.com/jobs?q=trading&l=chicagoraigslist.org/

your up 110% on 2,500? not that impressive.. try doing that with $25,000
if your so sure you want to do prop trading, but you've never done it, how can you be so sure??

anyways, go for 4 months prop, be ready to put a downpayment, and let er rip!

Tylersmiler2000 · Jun 21, 2013

russianking said:
Hi im currently 20 years old going to community college, and planning on transferring to a university in Chicago. Depaul is my top choice. I want to prop trade because i really do love trading. I have been learning about this business since i was 14 years old. I started paper trading and now have areal account and average around 50% for the past 6 years. Ive read ALOT of great books and what have you on the subject. I know once i get my foot in the door ill be successful. My question is how exaclty do i become one? I want to work for a real prop firm that pays salaries and bonuses, not one that requires a min deposit and just gives you high leverage. My strategy is very simple i get rid of the losers and let the profits run, and look for trends,bands, or anything technical and I also like to back up technical analysis with a little bit of fundemental facts. My goal in this business is to move on to hedge funds and be a trader there then one day open my own hedge fund. I really cannot see myself doing anything else. Ive looked all over the internet with no luck really. I will transfer to a top 50 but a non target school so working for a bank as a prop trader is out of the question. What should I do? thank you in advance.

Hi Russianking, i am the same age as you roughly and have been trading a demo forex account for around a month, i see that your post was way back in 2010, did you manage to get into a decent prop firm??

i have met with several 'pay us a load of money to learn' prop firms and haven't got much further, i also didn't come from a target school and have undoubtedly missed the bus on the ibank route, currently at 22 years old with no degree but strong mathematical and analytical skills whats my best route to a decent prop firm with salary and bonuses??

All advice welcome!!

How to become a prop trader?

russianking

Junior member

russianking

Junior member

exaltedangel09

Junior member

Tylersmiler2000

Newbie

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