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- 9 June 2011
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yep
Think TH wrote a piece one time about the benefits of being in a shop, there's arguments either way but for most I would think a shop makes sense.
So I presume no bonuses for either of you.
So a salary plus a share of profit?
I guess what Im getting at is that if you are trading for a share of profit only (and that makes sense) and
trading approx 100 x the size you'd trade on your own account then you'd need more than 1% to be better off.
As an example.
Is that the way it works.
So I presume no bonuses for either of you.
So a salary plus a share of profit?
I guess what Im getting at is that if you are trading for a share of profit only (and that makes sense) and
trading approx 100 x the size you'd trade on your own account then you'd need more than 1% to be better off.
As an example.
Is that the way it works.
Salary? what is that?
And finally how poor do you have to be before you haven't got a job?
Lose money = out the door.
I've never seen a prop shop pay a salary or a bonus structure its always a % split of profits after cost.
Its 1000000 times better than trading your own capital. Its RISK free!!
Tech as to your answer about how much an average trader makes trading prop? F knows. The most I have seen on the risk screen for one days profit was $120,000. The largest loss I think I've seen is $50,000. But I really have no idea. I'm not in the office so my guess is only slightly better than imagination.:
As to how much I made last month? here is the bottom line from my statement.
...................................Contracts traded........... P & L
View attachment 53636
LOL hey..... ya win some ya lose some
Or is it a running accumulative.
#2394
But Im interested in what sort of cut a trader who made $120K in a day would get for himself.
I presume it would be a monthly total.
Or is it a running accumulative.
EG say 120K profit for the month 10% = $12000
next Month loss of say $5000 is that just a cost of business for the prop guys?
Would that get you out the door if it happened for 3 mths--say?
Oh and what happenned last month
The front of it looked unstoppable.
https://www.aussiestockforums.com/forums/showthread.php?t=24462&page=120
#2394
Tech each month you have costs, you minus all these costs (brokerage/desk/software, whatever) from your profit to give you your after cost result. then you split the rest as per your agreement.
The reason TH is vague is because every shop is slightly different and every individual agreement with the shop probably varies slightly also (limits/split % etc)
if you are stuck one month then that rolls over to the next month, if you were stuck 6 months in a row they probably chop you but once again it depends - its a business decision for both parties and the relationship involved will once again vary.
I feel like you are suggesting 'if these guys re so good why don't they do it for themselves'. I think the more successful you are as a trader, the more capital you have and the more experience you have then the more reason to go it alone but once again, every relationship between the shop and trader will vary and it depends on the individual.
Also as TH said, theres no risk. if you blow you're account you just cant pay the mortgage - you don't lose the house. (bad analogy but you get my drift).
- - - Updated - - -
yes its accumulative
One of my mates who who was at one of the firms previously has told me that I should go and do it. Unfortunately he didn't make it and to be honest his personality is not at all suited to trading (patience, objectivity, concentration, mathematical probability thinking etc).
I'm currently in a steady, fairly comfortable job which I like but doesn't excite me like trading. The thought has run through my mind to go up to the Gold Coast or Sydney or wherever really. I wonder if I'm missing the opportunity to make a lot of money in something that I'm passionate about and am very well suited to!
Its not entirely Risk free.
Lose money = out the door.
If that is the way it works.
How much better than trading your own.
Is the "Average" prop trader earning $100k-$300k
A very good one --more---particularly over $500K
And finally how poor do you have to be before you haven't got a job?
Tech as to your answer about how much an average trader makes trading prop? F knows. The most I have seen on the risk screen for one days profit was $120,000.
As to how much I made last month? here is the bottom line from my statement.
...................................Contracts traded........... P & L
View attachment 53636
I wonder if I'm missing the opportunity to make a lot of money in something that I'm passionate about and am very well suited to!
One of my mates who who was at one of the firms previously has told me that I should go and do it. Unfortunately he didn't make it and to be honest his personality is not at all suited to trading (patience, objectivity, concentration, mathematical probability thinking etc).
I'm currently in a steady, fairly comfortable job which I like but doesn't excite me like trading. The thought has run through my mind to go up to the Gold Coast or Sydney or wherever really. I wonder if I'm missing the opportunity to make a lot of money in something that I'm passionate about and am very well suited to!
Thanks Kid
Yes I do understand the reasoning.
I've heard of very successful Traders who suffer $1 million swings in their accounts
and when 2008 hit know that there were a spate of necking's and many lost the lot
lifestyle and everything else.
So If you blow up you have at least the ability to do it once risk free.
Doubt you'd get another job though if the blow up was big enough!
Personally I've always been of the "Slow and steady wins the race"--ilk.
Also of the "How many Millions do you want"--group.
For nearly 20 yrs I complained " If I'm being taxed this much and have made this much" where the hell is it!
Now when i walk around the depot I can SEE where it is!
While friends flashed 1000s around like confetti. Pretty well all of them have confetti and are to old to do anything about it!
Don't get me wrong I'm certainly not against Prop trading or think that those capable of trading it shouldn't.
I'm interested in the discussion.
Interested in the thinking.
That is why its just unfathomable that if you can trade you wouldn't give it a go.
My answer is in your Inbox
How well suited to trading did you think you were before the duck started spoon feeding?
Plenty of time
The markets not going anywhere.
Build a foundation.
then do as you wish.
Ah the exuberance of youth!
Trainees start on 50% split. What do ya reckon they would give to a trader that can take 200 - 300g per month?:
I reckon you'd need a few hundred k to get setup, then several million in risk capital?
One of my mates who who was at one of the firms previously has told me that I should go and do it. Unfortunately he didn't make it and to be honest his personality is not at all suited to trading (patience, objectivity, concentration, mathematical probability thinking etc).
I'm currently in a steady, fairly comfortable job which I like but doesn't excite me like trading. The thought has run through my mind to go up to the Gold Coast or Sydney or wherever really. I wonder if I'm missing the opportunity to make a lot of money in something that I'm passionate about and am very well suited to!
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