How to become a prop trader

It's different every time, so hard to compare, if you got some easy ones like, what is the best poker hand, you can score higher

wow, nice work. looks like Erebus is the new champion

I thought each question is 5 minutes and I screw up lol! but it is fun!

My idiotic brain after realizing that the time limit is 5 minutes for the whole test instead of 5 minutes for each question... So much for being in the finance field and I still didn't get full marks lol...

congratulations edwinsieng you are the new champion!

So a question to everyone - I am having some very good results lately (about 2 years) and have also been ranked in the top per-mille on the Alpari Jackpot contest in Q4, also doing good in Q1 so far so in addition to my trading history I have something to show on a more public level.

I am considering on opening a PAMM account with Alpari since I have a few investors, who would like to have their money managed, but I am also considering the option of signing a prop trader contract with someone. I am currently talking to the company FXSTOCKBROKER (Quantative Asset Management Ltd.), but I am uncertain if I can trust them and am still gathering data. I do not want to committ my time into something that is not valid.

I would very much appreciate people with experience for any information on who is good, how to do it, what to watch out for, what kind of amounts are being managed, etc.

My current strategies have been relatively high-risk with potential large drawdowns, but that can of course be reduced with less leverage used. My goal is to have higher amounts of funds under management (5-10million €) since for me that would mean less stress and risks but still the ability to maintain substantial income from trading.

So if anyone can provide more information of what is in in terms of prop trading, how to approach companies and if anyone might have experience with fxstocktrader (the more I check the more I am suspicous that it might not be what it seems) I would very much appreciate it.

Thank you and regards to all,

You need lots and lots of practice to become a successful trader. You need to learn about many things and it is only possible with more and more practice.

one of the first things they'll look at is your draw down. Managing risk is number one priority for prop trading firms. they're very big on EXPECTANCY

I agree, drawdown is key, as risk management is at the core.

I tend to trade my public accounts quite aggressively, and sometimes drawown happens, but I tend to manage it well as well as leverage playing a key role in drawdown, so my strategy&trading can easily be adapted for less risk with lower leverages used. I started FX trading in 2006, so I had my share of expensive lessons learned.

So the best thing would be to just approach the most well known ones? I do not want to be part of a trading floor, I trade only a select few currency pairs and keep away from speculation in everything else; in equities and other investments I am a value investor, in FX I am a day & swing trader, and my FX trading is what I want to do with larger amounts of money. Mostly due to market depth and years of experience.

And bad stories out there? I really need a lot of confidence with a company to forward my financial data, personal information and my money (i.e. Quantative have offered me a 30/70 model, 30% of my capital, 70% of theirs for the beginning before moving on to 100% of their funds...).