CanOz's Capital - a virtual prop shop

[OmegaTrader]

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.

I and other forum lurkers would really appreciate those videos and resources. That would be altruistic. You could let Muhammad come to the mountain. Ie do the foundations, get the software, go trial then come to me for the other qualities I am looking for. That would reduce initial work and show their intent.

 

[CanOz]

OT, almost everything is available on YouTube. I'm just aiming to pick the best of it.

 

[OmegaTrader]

OT, almost everything is available on YouTube. I'm just aiming to pick the best of it.

How do you determine who is best if they have never traded before?
What characteristics make someone the best?

 

[CanOz]

The best material.

 

[Skate]

OBSERVATION

Another thread that won't end well - but in the meantime it will make exciting reading.

 

[ThingyMajiggy]

OBSERVATION

Another thread that won't end well - but in the meantime it will make exciting reading.

Seems to be a common denominator among these threads too, just another observation.

 

[Joe Blow]

Folks, I've cleaned up this thread once again. I'd like to respectfully request that it be kept on-topic and free of insults or personal attacks. Thank you in advance for your co-operation.

 

[CanOz]

Among the qualities of the successful traders i know, myself humbly included, is tenacity. To never want to admit defeat is one of the highest ranking qualities in my view. This is difficult to quantify. Athletes display a competitive drive, they want to succeed and they strive for excellence. Thats why athletes can often make great traders. SMB capital mentions this i elieve in One Good Trade.

The hardware requirements i mentioned are a guideline. If you can't run one DOM and a couple of charts on your machine how are you going to look for opportunities on 6 or more commodity markets when equity markets are dead for volatility?

One Good Trade by Mike Bellefiore has allot in it for selection of traders.....worth a read if you want to know what it takes.

There are tons of videos on YT regarding trading. Most of this is utter garbage. There are however, some real gems.

 

[CanOz]

View attachment 71195 View attachment 71193 View attachment 71194 I wasn't going to post a video for a while, however this particular video i had picked that explained Auction Market Theory in laymens terms really well, played out tonight for me in GC.

Tonight in GC we looked above the balance and failed. I place a sell limit (3) at the level that it broke out of and retraced through. We got the VWAP test and 1 contract off. We may get stopped out on the rest but the risk to reward in these types of plays is very good.

 

[CanOz]

Heres the trade.....

 

[CanOz]

Made a point to get more involved today, even though i had one son down with a fever...

In a market like this there's opportunities presenting every hour....I'll send Joe the statement just to confirm. Thats it for me for a while....

 

[kid hustlr]

Enjoying this thread Can.

Having a little one myself i can also appreciate the work life family balance issue.

As an aside you should have lifted all the GC at VWAP given it's against the medium term trend (just yanking your chain)

 

[CanOz]

It's still going kid....I'm in bed unfortunately!

 

[CanOz]

I needed that runner....gold got flogged

 

[kid hustlr]

Haha yes I see it dumped overnight - should have run them!

 

[OmegaTrader]

View attachment 71195 View attachment 71193 View attachment 71194 I wasn't going to post a video for a while, however this particular video i had picked that explained Auction Market Theory in laymens terms really well, played out tonight for me in GC.

Tonight in GC we looked above the balance and failed. I place a sell limit (3) at the level that it broke out of and retraced through. We got the VWAP test and 1 contract off. We may get stopped out on the rest but the risk to reward in these types of plays is very good.

The attachments don't work for some reason.

Now I get the joke traders are really market makers.

The bet it reverts back to the current range looks alot like that

Thanks

 

[CanOz]

The attachments were the charts anyway.....yeah it reverted

 

[OmegaTrader]

Any update on progress of your prop etc.

 

[CanOz]

Simmering along at the moment, working on a partnership to assist with the training and possibly clearing / risk. Still in the planning phase though. Aim to start three potentials in July at the latest. In the meantime i need to get the business setup. Lots to do.

 

[scholesy]

Long time lurker but cannot afford to stay quite at this.

First of all CanOZ, thank you so much for the bottom of my heart at this wonderful opportunity. The haters here don't see how wonderful an opportunity this is. I have tried trading on my own, TopStep, went to a crappy Prop Trading Firm in Melbourne who are just eager to generate volume commissions for themselves by getting you trade spreads on bills that barely move...

None could come close to this! I am really keen and want to grab this opportunity with both hands. Here is a bit about my background.

I am quite experienced but extremely hungry for success. I have tried many different things - fundamental value investing on my own, investment analyst for a private trader, prop trading, tape reading and scalping US bond and currency futures, small-cap stock trading...and currently, I am swing trading CFDs and FX based on price action and market structure basis.

Its funny you linked to a Youtube video I remember watching 6 months back and thinking this kid is a genius. I was wishing I had started so early!

Anyway, I have a couple of questions:
1. Are you able to provide a rough background of fixed vs recurring costs for the set up?

So I know, a CQG/Kinetick data feed will cost easily AUD$60 per month. I can get the CQG data to be free if I set up an account with Ninjatrader as I have already used them before and I really like their platform.

The Jigsaw DOM costs USD$400 + USD$50 per month. The tools are good but for a start-up trader, it is ridiculously expensive. Are you okay if I find cheaper alternatives? I do know of a few.

Hardware is not an issue as I have that at my work place.

2. I will probably be looking to trade after work so it will be around European session. However, I cannot stay up for US session as I will need to sleep for work. Does that work?

Anyway, please PM me if you still have place for one more person to join you or even to help you out. I am keen and hungry to learn! I currently work in the industry so I only ask for your absolute discretion and trust. Thank you again