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How to become a prop trader

  • #21
  • Edited 12:21pm Nov 27, 2009 11:53am | Edited 12:21pm
Quoting woo
If i've a proven track record of being sucessful in the forex market, but dont have enough capital, what can i do?

I've contacted some forex brokers, who are interested in seeing my track record.

But is it possible to be recruited by hedge fonds, banks?

How do you become a prop trader in uk? I know you have to take a licence, and you can only get this license through a company. So how do you get this licence if you arn't working at this company? Trying to persuade them that you can pay the full fee?
Hey woo,
Good luck in your endeavours.
Much like yourself I myself joined a sales team straight out of school, a fx sales team.
Although I always wanted to be the one taking on risk. Trading was the ambition from day one.
Looking back it was hard work, no question.
Just proving yourself to the big swinging d*ck's at corps. and on the trading floor itself is a life altering experience.

Long story short, it is possible.
My advice to you would be just go and do.
No one cares whether you can turn X into X,XXX.
But they sure a sh*t will give you a chance.
  • #22
  • Nov 27, 2009 3:43pm Nov 27, 2009 3:43pm
daytrading - what is the success rate for Futex trainees? Is there a difference in success rates between self-funded and sponsored?
  • #23
  • Nov 28, 2009 1:42pm Nov 28, 2009 1:42pm
Hi,

Except the possibility that the self-funded person is already a professional successful trader, the chances are much the same.

I have worked for the form on a remote basis - but generally, they churn through quite an amount of trainees for the simple reason that not every one (rather a minority) is cut out for the job.

Having spent 3 years with them, I saw during that time quite a few cone and go.

regards
daytrading
Enter Signature
  • #24
  • Dec 2, 2009 1:30am Dec 2, 2009 1:30am
Funny. I've contacted Futex and sent them my live account statements but they regret to say that they won't let me trade for them.
  • #25
  • Dec 2, 2009 2:15am Dec 2, 2009 2:15am
Quoting daytrading
Hi,

Except the possibility that the self-funded person is already a professional successful trader, the chances are much the same.

I have worked for the form on a remote basis - but generally, they churn through quite an amount of trainees for the simple reason that not every one (rather a minority) is cut out for the job.

Having spent 3 years with them, I saw during that time quite a few cone and go.

regards
daytrading
I concur, not everyone is cut out for the job. Sometimes having a great track record is still not enough. It took me a while to get my foot in the door, but it was worth it. I am currently the Operations and Trading Manager for a trading company out of Perth, so I am living proof it can be done.

So if that is your dream, keep going. Once you get there the life style is worth the hard slog to start with.
  • #26
  • Dec 2, 2009 2:34am Dec 2, 2009 2:34am
Quoting woo
If i've a proven track record of being sucessful in the forex market, but dont have enough capital, what can i do?

I've contacted some forex brokers, who are interested in seeing my track record.

But is it possible to be recruited by hedge fonds, banks?

How do you become a prop trader in uk? I know you have to take a licence, and you can only get this license through a company. So how do you get this licence if you arn't working at this company? Trying to persuade them that you can pay the full fee?
First of all you need to watch "Wall Street" with Charlie Sheen
  • #27
  • Dec 2, 2009 3:04am Dec 2, 2009 3:04am
Quoting Xaron
Funny. I've contacted Futex and sent them my live account statements but they regret to say that they won't let me trade for them.
Hi Xaron,

I have not been with them for a while now...things could have changed. They have 3 main motivations:

1) to attract noobs who will be trained and after successful completion will pay their desk fees of around £2k/mth. During training, they are not obliged to pay anything...not even the fee, which was deferred.

2) to attract self-backed traders to also pay the desk and clearing fees.

3) to back (or part back) the odd trader), which is for them the option with the biggest financial risk.

Each individual option (and how many individuals per option) is obviously subject to their discretion.

regards
daytrading
Enter Signature
  • #28
  • Dec 2, 2009 10:29am Dec 2, 2009 10:29am
Get a top 10 MBA!
  • #29
  • Mar 22, 2011 8:50pm Mar 22, 2011 8:50pm
I have been trading stocks and forex for the last 9 years. I'm interested in joining a Forex prop Trading firm. All prop firms that i've seen in Toronto so far don't offer forex trading(just stocks).


Is there any forex proprietary trading firm in the GTA?
  • #30
  • Jun 28, 2011 9:30pm Jun 28, 2011 9:30pm
Hi usdivers. I am currently a broker working in Perth and am interested in joining a prop team asap. I have a good track record with trading and was wondering if you could give me any information for the firm you are at?

Cheers,
Aaron
  • #31
  • Nov 8, 2011 6:00am Nov 8, 2011 6:00am
Has anyone here dealt with 4xprop?

They claim to be a true prop shop in that they don't charge a fee. You only need to trade your own live account for 8-10 weeks (at FXCM or Alpari) so they can evaluate your performance.

There are some, though, who think that since active daytrading is preferred, it's merely a scheme to collect trading commissions from people who join hoping to get hired.

It would be interesting to find out if anyone has actually been hired by them since they launched early this year.
Amor Fati--F. Nietzsche
  • #32
  • Dec 7, 2011 10:28pm Dec 7, 2011 10:28pm
Any prop firms that let you trade from home? I'm based in asia.
  • #33
  • Dec 7, 2011 10:59pm Dec 7, 2011 10:59pm
Quoting pippin4me
Any prop firms that let you trade from home? I'm based in asia.
.............. and so is GOOGLE

1. forex prop trading firms

2. global prop trader program

3. fxproppartners.com.au
It takes a lot for me to IGNORE you, but you can try.
  • #34
  • Dec 8, 2011 8:03am Dec 8, 2011 8:03am
Hi,
Are there any prop firms in the San Francisco/Bay area in California.

I trade currencies and was looking was some opportunities.

Any insight is highly appreciated.

-Sai
  • #35
  • Feb 19, 2012 6:26pm Feb 19, 2012 6:26pm
Quoting doji
Has anyone here dealt with 4xprop?

They claim to be a true prop shop in that they don't charge a fee. You only need to trade your own live account for 8-10 weeks (at FXCM or Alpari) so they can evaluate your performance.

There are some, though, who think that since active daytrading is preferred, it's merely a scheme to collect trading commissions from people who join hoping to get hired.

It would be interesting to find out if anyone has actually been hired by them since they launched early this year.
me too will like to know fi anybody have done it please let us know thanks in advance..........
The Chonchy
  • #36
  • Feb 19, 2012 6:47pm Feb 19, 2012 6:47pm
what is prop trader actually? what benefits become prop trader?
are we trade using our money or manage someone funds?
  • #37
  • Nov 3, 2012 5:02pm Nov 3, 2012 5:02pm
Quoting ccreative
what is prop trader actually? what benefits become prop trader?
are we trade using our money or manage someone funds?
propietary trading is a firm that will give you capital for you to trade and split the profits.........they are all diferent, some ask for a trial period with a small acc, some ask for a tuition fee, and some ask for some money at front, here are a few of them, I just want more info from someone that have being with them for real, thanks in advance........

http://www.4xprop.com/faq.php

http://www.blue-point-trading.com/

http://www.mavericktrading.com/capital_plan.php
The Chonchy
  • #38
  • Nov 23, 2016 1:02am Nov 23, 2016 1:02am
Here is a quiz you can do I found at a prop firm website to assess your "readiness".
(fwiw I only got 6 out of a possible 14 points..)
  • #39
  • Jan 6, 2017 4:20am Jan 6, 2017 4:20am
Quoting KoiFish
Here is a quiz you can do I found at a prop firm website to assess your "readiness". (fwiw I only got 6 out of a possible 14 points..)
I got an 8 out of 14
Attached Image (click to enlarge)
Click to Enlarge Name: prpex.png Size: 42 KB
  • #40
  • Jan 9, 2017 12:58am Jan 9, 2017 12:58am
Quoting Horne
{quote} I got an 8 out of 14 {image}
well I guess you're the winner. I don't think anyone will get 14/14
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