How can you start on oil at a prop firm???

[spanish89]

I know i may sound like im trying to run before i can walk, but i like to go direct to what i want.

Im dont really like this idea of having to do the SII securities & derivavtives exam and then try to get a job in a prop firm trading whatever Secs n Dervivs are...,
when i have absolutely zero interest or enthusiasm in them whatsoever, but spending a year or 2 being trading specifically at them, just so i can get it on my CV and then try looking for a prop firm that will teach me and then let me trade oil instead!!


I do have an incredibly huge amount of interest and enthusiasm in oil though!!

Dont know why exactly but i just always have ever since i was 8years old.


And its when i was 8years old, lil kids, got my mum to invest all my future savings money in oil.

Took all the cash out last july with a £2500 profit!!


:cheesy::cheesy::cheesy:



But so how can i give myself the maximum chance of being able to start in a prop fim learning exactly how to and then trading oil???

Or is it just too risky for any prop firm to offer??

(I am 18, just finished my A-levels at college, non market related as i didnt even know the job of trader even existed till 4months ago!!
But have spent the last 4months reading and reseraching all about trading, practisng trading oil,aud/usd, and ftse mornings on real account to start then demo account now, while running my own online business earning av £250 per week, and while still being a fulltime college student!!)




And is there an exam i can do in commodities instead of securities and derivatives???

Because so far the best i can find is this exam from SII- Certificate in Securities & Financial Derivatives / Certificate in Securities & Financial Derivatives - Retail


That is multiple choice, and can be done within a few weeks of studying for it..,
But whats the commodities equivalent to it please??



Thanks

 

[fifty2aces]

Pretty sure the Certificate in Securities and Financial Derivatives is for people on the sell side, so wouldn't be relevant to a prop trader.

I think most prop traders trading oil would trade the futures, and futures are derivatives.

 

[toxictrading]

the chances of you being allowed to trade crude at a prop trading company as a new starter are probably about the same as elvis coming back to life and doing a duet with john lennon

its just too volatile, it may look ok via a spread betting platform, but bring up crude, nat gas etc on TT and it will make your bumhole shrivel up to the size of a pinhole

as crude lover said you could put up your own cash, but in all honesty, if you were able to put up £25,000 ( and i doubt that would be enough) and started trading it without the experience a contract like this requires and deserves then i would expect your account to be done and dusted within the day !

i know this post sounds negative, but you can do a great deal of damge to your account with oil.

 

[fifty2aces]

I think I read somewhere on this forum that STA are teaching new recruits calendar spreads on oil - that's probably not what you have in mind though.

 

[DC STOXX]

I think I read somewhere on this forum that STA are teaching new recruits calendar spreads on oil - that's probably not what you have in mind though.

I heard they where taught the calenders where too volatile for them and to do the flys only....

 

[fifty2aces]

I heard they where taught the calenders where too volatile for them and to do the flys only....

Actually, I think you're right there - either way, it's probably not going to be outrights.

 

[bigba]

Are there any prop shops with an established trading record on ICE yet? I have experience trading the crack and am looking around. Does anyone go direct through clearers like Fortis?

 

[gooseman]

you won't be trading oil, you'll be trading oil futures, which as somebody pointed out, is a derivative. the SII exams will give you a basic understanding of the market as a whole so i suggest you do them.

 

[police]

both marex and Futex trade oil derivatives and will train you if can meet their criteria.

 

[Magos]

Schneider Trading Associates (they are doing Oil Fly's) thats what I heard

 

[htp80]

the chances of you being allowed to trade crude at a prop trading company as a new starter are probably about the same as elvis coming back to life and doing a duet with john lennon

its just too volatile, it may look ok via a spread betting platform, but bring up crude, nat gas etc on TT and it will make your bumhole shrivel up to the size of a pinhole

as crude lover said you could put up your own cash, but in all honesty, if you were able to put up £25,000 ( and i doubt that would be enough) and started trading it without the experience a contract like this requires and deserves then i would expect your account to be done and dusted within the day !

i know this post sounds negative, but you can do a great deal of damge to your account with oil.

I trade oil futures all day, every day. I work off 1 minute charts as they present a handful of great low risk high reward trades. Like any contract though its not the only way to trade as I guy I work with trades off the 60min chart and takes a huge number of points. My advice, don't be put off by the obvious volatility.

 

[bigba]

Hi Gooseman, btw Elvis died.

Hi Police, Thanks for the advice.

I actually found a potential trading house, but am looking for a comparison so I don't get Hobson's choice. I am looking for a company with risk managers who are experienced with ICE, and which has reliable IT. Any help appreciated. General rant and results of my search to date follow:

Marex- told me in early 2007 they have no interest in my spread trading ICE futures
Futex- based in East Sussex, I need a London office
TCA- no interest in me on ICE

I spread traded Eurex profitably over 4 years, but when profits were declining, a visit to Orc software revealed the potential of the "algo" traders. At the time, Orc required massive fees beyond the reach of any independent trader other than the great Rotter.

I decided to get a job in an investment bank, but in the interim I had the joy of trying out ICE at Curvalue, and made money in the crack.

I am surprised by the quantity of places out there still having a crack at spreading Eurex. Its like King Canute futures, or with reference to Wikipedia, Cnut futures for short.
Canute the Great - Wikipedia, the free encyclopedia

 

[police]

Hi Gooseman, btw Elvis died.

Hi
Marex- told me in early 2007 they have no interest in my spread trading ICE futures
Futex- based in East Sussex, I need a London office[/url]

Futex have offices in London and Woking ( I was not aware they have one in Sussex too)

 

[bigba]

Hi Police

thanks, I will look into Futex then as they apparently have been around since late 90's

 

[grantx]

Police,

Perhaps they don't want to tell you.

Grant.