prop firm traders...

[gooseman]

depends on what product.

you get bid, ask , last trade price and time and usually somewhere the volume traded in that session.

 

[Technically Fundamental]

You're a legend lol. Don't wanna keep bothering you so I'll stop with he barrage. Appreciate the time you took though.

 

[gooseman]

no problem mate-feck all going on in the markets. altho US about to start so might get interesting.

 

[fat chance]

What are the methods used for trading at prop firms?

Is it mainly technical analysis or is it statistcal analysis and financial mathematics?

Prop traders tell their trading managers that they make money by:

(i) reacting to data releases and news,
(ii) using advanced technical analysis (way too complex to explain to the trading manager),
(iii) exploiting blatant mispricings ("when my spread does this, it always comes back"),
(iv) understanding the short-timescale market dynamics + watching the trades and market depth,
(v) trading a fundamental view based on a sound understanding of the current economic situation.

Prop traders make money by:

(i) <10% all the above put together,
(ii) >90% the bid-offer spread (via a punting/fading/averaging approach).

Average monthly profit / average number of round-turns per month ~ 10 euros.

 

[arabianights]

Fat Chance has it (for arcade style traders anyway)

 

[Technically Fundamental]

Hmmmm...

Still bestto get a grounding in those things anyway in case you have to explain your way out of a tight spot lol.

 

[arabianights]

If you have to explain your way out of a tight spot then you're already ****ed

P.S. Just got my monthly statement (admitedly for a terrible month). Try £1.20 per lot traded!

 

[Technically Fundamental]

Hahahahaha

Yeh how many lots? Thats a big part of it mate.

 

[arabianights]

I'm not going to starve

 

[Technically Fundamental]

You must be doing easy over 1000 lots per trade

 

[gooseman]

is that before or after fees

 

[Technically Fundamental]

Rich c*nts

 

[Technically Fundamental]

No arguements

 

[Hotch]

Ask a stupid question...

 

[Technically Fundamental]

Hotch, can you give a step by step explanation of the thought processes that go through your mind and the bearing they have on your psychological state when you click to enter a trade?

 

[gooseman]

i don't sit in front of my screens 12 hours a day for no reason young man.

 

[Technically Fundamental]

No its to help keep the economy going ;-)

 

[gooseman]

see it make it spend it. if only it was that easy.

 

[fat chance]

Fat Chance has it (for arcade style traders anyway)

Yeah, I was referring to the typical London mostly-intraday STIR/bond futures shop. There's some considerable talent involved in capturing the bid-offer spread of course, especially if risks are being well managed - I don't regard it as being an "inferior" way to make money.

P.S. Just got my monthly statement (admitedly for a terrible month). Try £1.20 per lot traded!

I bet you regret bailing out at "bad" levels, only to see it come back on side (well that's how I explain many of my random losses to my trading manager... )

 

[Technically Fundamental]

see it miss it chase it lose it get angry check see it make it spend it save it

we can make a daft punk technologic remix for trading lol