CanOz's Capital - a virtual prop shop

[SuperGlue]

Then I sneezed....my son was startled and cried unstoppable for 15 minutes. I scrubbed the order and went upstairs, only to see later how well the play worked....again. This sh** is not hard.

On the lighter side of things, your son is a natural born trader.

He was impatient cos he knew what was coming but dad is cautious and slow.
He was startled cos dad didn't excuted the order immediately. Duhhh dad.
He cried unstoppably, look dad what we could have made in 15 minutes, This sh** is not hard dad...waaa waaa hahaha.
For every action there is a reaction.

You've already got one in the family.

 

[CanOz]

Got two super glue....my oldest already knows which market is which on the screens.

 

[Joe Blow]

CanOz has forwarded a number of broker statements to me via email that confirm that he is well capitalised and more than able to fund the proposed concept as outlined in the first post in this thread.

 

[fiftyeight]

10,000+ posts and a member since 2006. Fairly confident he is not here playing games or trying to scam anyone haha

 

[OmegaTrader]

CanOz's Capital-a virtual prop shop


Concept: recruit 3-5 keen, wanna be traders. Train them over a 3-6 month period. Give them access to my capital with tight risk controls, monitor progress, reward good performance and cull non-performers.


Advantages: compared to a physical firm, no overheads or very low.


Disadvantages: remoteness, inability to act swiftly to kill dangerous positions


The trainees would be responsible for their own data feeds and infrastructure costs. They would be required to have software that would have a minimum of functions.


The training would be one on one and group settings using virtual meetings.


Trade reviews on sim accounts would be used to track progress grasping basic concepts.


Responsibility for the daily setup and context, trade ideas etc., would be shared and rotated amongst the trainees to encourage a team approach.


All the elements of a prop shop, but virtual.


The trainees would need to pass a rigorous selection process that would include a review of their history and back story with an emphasis on athletic achievements, risk management in games of chance, achievement in game theory practice, disciplined behaviour or training, honestly and integrity. Successful candidates would sign a confidentiality agreement.


Successful trainees would sign a binding contract to trade my accounts for a specific period of time with escalating profit share arrangements.


If the model is successful we could then attract more capital and expand the recruiting and training.


This is really just a numbers game. Manage the risk, recruit, train, trade, reward, cull, rinse and repeat.

Now recruiting.

My posts and threads are my initial application

1) Pm me if you want to take it further
2) I am no genius or athlete. I have no experience. But I have a lot of time and a hard head.

Good luck getting off the ground

 

[skc]

Concept: recruit 3-5 keen, wanna be traders. Train them over a 3-6 month period. Give them access to my capital with tight risk controls, monitor progress, reward good performance and cull non-performers.

Now recruiting.

Interesting plan. My random comments:

- The plan works in concept but obviously tonnes of details to actually nut out. Like your binding contract will probably need to be drafted by a lawyer, and you might need an actual risk guy to monitor positions in real time. You may have already done some of these...

- Everything you described will be time consuming to put together and actually execute... including active and close management of 3-5 trainees. Given that you are time poor (or time poor in selected parts of the day), it may or may not work from that perspective.

- I am wondering what's in the confidentiality agreement? Is it your trading method? It would be impossible to enforce - they learn, quit, trade their own account your way - you can't possibly know.

- Aside from ASF, where else are you marketing to find your prospects?

He was impatient cos he knew what was coming but dad is cautious and slow.
He was startled cos dad didn't excuted the order immediately. Duhhh dad.
He cried unstoppably, look dad what we could have made in 15 minutes, This sh** is not hard dad...waaa waaa hahaha.

Lol. This is hilarious. I can't just like your post. I have to quote it and tell the world that I think it's hilarious...

 

[CanOz]

Ok, so here are the software and hardware requirements. If you don't have the funds to undertake this then wait a while, Trust me its worth having enough to get started with good gear.
Subscription fee: $0.00 - just a reminder, this costs you nothing.
Minimum Platform requirements:
-A Jigsaw Dom or equivilant (veloxpro bookmap)that can display a heatmap of trades and available liquidity, prints, pulling and stuffing of bids and offers
-A charting platform that can display a compositie volume profile, specific range profiles, cumulative delta volume, VWAP
-A CQG or Continuum data feed
-TT, Sierra Chart, CQG Intergrated Client, Ninjatrader are all useable charting platforms. You need to be able to accept a CQG feed in order to trade my accounts.
Hardware:
-Minimum two large screens, more is better in the long run, you'll be trading up to ten markets eventually so you need space. Volitility could change this, but right now theres fewer opportunities.
-you will want a decent amount of RAM, an i7 processor and room for graphics cards. A decent size SSD is good, 500gb+

The type of person:
Whilst i'm not against taking traders that have a track record, i need to know that you're open to new things and that we can analyse the market using a similar style. I'm not into oscillators and other similar indicators.

To me the biggest advantages for someone that wants to trade someone elses money you need to show:
Discipline
Tenacity
Competitive drive
Understanding of game theory

If you already know how to read a chart, then knowing where trapped traders are is an advantage. Being able to execute from a DOM. reading and understanding Market Profile, specifically volume profile is deisreable.

 

[craft]

I don't know if any of the recruits will make you big money. But I suspect from your posts on ASF that that this might be your thing to be a coach/mentor/friend/boss (facilitating an interpersonal aspect of trading - that is missing in retail trading). Kudos for giving it a go. I'm sure you will manage any risks that you may face from the endeavour. It seems a no brainer risk/reward for your recruits

Good luck.

 

[Gringotts Bank]

I don't know if any of the recruits will make you big money. But I suspect from your posts on ASF that that this might be your thing to be a coach/mentor/friend/boss (facilitating an interpersonal aspect of trading - that is missing in retail trading). Kudos for giving it a go. I'm sure you will manage any risks that you may face from the endeavour. It seems a no brainer risk/reward for your recruits

Good luck.

I think this is a good observation. Personally, I find the day-to-day of trading extremely boring, and I've known for quite some time that boredom and big profits cannot co-exist. Modest profits, yes, but not the sort of returns you can base a lifestyle on. I may well have no place in the markets at all (reward for effort is small), so it's just as well I have a job.

"Play by any rules that you care to name.
What's my scene? (I gotta know)"

 

[Quant]

I think this is a good observation. Personally, I find the day-to-day of trading extremely boring, and I've known for quite some time that boredom and big profits cannot co-exist. Modest profits, yes, but not the sort of returns you can base a lifestyle on. I may well have no place in the markets at all (reward for effort is small), so it's just as well I have a job.

"Play by any rules that you care to name.
What's my scene? (I gotta know)"

Well I'm rarely bored , if the markets are dull I spend time exploring ways to improve/ find edges . I am the James Brown of markets ... " The hardest working man in trading " and no coincidence the harder you work the better the returns . Never let any impress their opinion on what can and cant be done , they are only expressing their limitations , Not Yours . I have a job and its trading and I strive for excellence .....

Last night during SPX grind I built and tested a damn good top 50 stock screener and it will help me make more money , never ever stop looking

 

[Quant]

Last night during SPX grind I built and tested a damn good top 50 stock screener and it will help me make more money , never ever stop looking

And regardless of how " difficult " it is I will build an algo around this incorporating a fundamental and tech quant based approach that I believe will be impressive enough to auto trade a managed fund , sounds hard and difficult hey , that's a good thing because if I do it I will be one of few not one of many & the best edges are not obvious or easy ... so you stick to " simple " and that rut that simple lives in .. good luck , something I don't rely on

 

[Joe Blow]

Let's keep the thread on topic for the sake of the discussion please. And be nice to others.

 

[CanOz]

We have our first two trainees.

The first module of the training will cover:

-Introduction to CME and Eurex Products
-Auction Market Theory Basics
-Using a Depth of Market

We'll go for two hours on a GoTo Meeting or Skype call and then i'll give some vidoes to watch and some DOM excercises to do. I'll post the vidoes here after the session as well.

 

[dryath]

I have to say I like what you're trying to do. And whilst I don't think this is for me (don't have the level of dedication you are looking for). I'm definitely keen to see how it plays out. And if you're posting videos here, i'll definitely watch - as it sounds very interesting, and all of which I know very little about it. So hey, I might just learn something

GL CanOz, don't let the haters get to you.

 

[Gringotts Bank]

Dryath, everyone here has been respectful in their comments apart from quant.

This idea is unlikely to work. If the reason for not trading one's own account is because of sneezing (or something similar which always interrupts the day), then you have to question what's really going on.

Why would you not say to the wife - "this is when I trade - look after the kids". Or if interruptions always happen, then simply set hard targets and stops when the trade itself is placed. Wouldn't either solution be 100 times easier than setting up a complicated remote trading room and giving strangers your 'hard earned' to play with?

I know it's not boredom because OP lives and breathes markets. So what is it really? Fear of fully committing? Fear of taking responsibility? Who in their right mind would give away great set ups for free? Nothing about this makes sense.

From what I've heard about business franchises, the owner has to be 100% committed and involved in the day-to-day running in order for it to work. I can't imagine this would be any different. What happens when the kids need you and risk limits suddenly get busted open and you have 3 of your traders on the phone needing advice? 'Sorry guys, it's bath time'....?

 

[Quant]

I know canoz personally and I know how hard he works and his thoroughness . You think he is scared , are you crazy , bravest move ive seen in a long time . KUDOS to the man and if anyone can pull it of I'm sure he is the one .. Good luck to him and positive energy from me



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[Gringotts Bank]

I know canoz personally and I know how hard he works and his thoroughness . You think he is scared , are you crazy , bravest move ive seen in a long time . KUDOS to the man and if anyone can pull it of I'm sure he is the one .. Good luck to him and positive energy from me

In business you need to be aware of your motivations. The stated motivations (ie. freeing up time to spend with a young family) clearly do not make sense. This virtual trading room idea involves much more work, involvement, time and stress.

So if one is unaware of the real reasons and motivations, this indicates a block in awareness. In trading and business, major blocks in awareness are problematic. So again my question is: what's really going on here?

If the real motivation is to set up a business which will ultimately make more money with less work, then great. I wish him the best. If the real reason is to be able to sidestep responsibility if it doesn't work, then that's not good for anyone. Superglue's comments were meant in jest but there were truths there that would apply to most traders to some degree. Who here hasn't hesitated before clicking the buy/sell button?

 

[CanOz]

Thanks for your comments guys.

Quite simply and the last word on my motivations for this, I refuse to give up the valuable time I have with my young family now. My dad was building a business when I was young and I didn't see him much. I really believe to build strong bonds with my sons, I need the time with them when they're young. I have time available but I just don't have the time to intraday trade. I still swing trade, in fact some of the capital for this project will be from profits made from swing trading.

To trade and absolutely crush every opportunity the markets throw at you, one needs to be available 24/6, or automate. There's a reason that 'married with 2 kids' doesn't fit the ideal prop applicant. It doesn't work. I know because I've interviewed with them, held long discussions with their lead trainers and I have half a dozen contacts in the business. There is no work/life balance in the beginning. Only one of these guys has a marriage left.

I absolutely love the markets, I have more ideas for trades than I can possibly execute. I also have significant experience in managing and leading a lean, collaborative organisation. I have skills to transfer knowledge. I enjoy that level of interaction with people.

For more than three years I've had this idea in my head. I'm not alone. One of my contacts is doing something similar, perhaps we'll do something together one day.

This is just me executing a plan on an idea that I've had in my a long while.

Please keep the remainder of the thread on topics other than my motivations.

 

[CanOz]

Good timing for this. Well Done Aaron.

Chat with Traders

 

[Rypieee]

Good timing for this. Well Done Aaron.

Chat with Traders

When will you do an interview with him???

Don't have the capacity to join up in your trading firm at the present but will be watching this thread for any content that you share, good luck CanOz! Maybe when I am in a better position and you open up round #2!