Prop Shops in Australia

[skc]

I applied and they are interested so far but I believe there is a bit of uncertainty at the moment about the automation.

What I would like to do anyway is move more towards discretionary trading for several personal reasons.

Nice one. I Am sure there are plenty of intellectual stuff that is transferrable... just stuff in general principles of risk management etc.

It's worth getting yourself in the door and funded first, and work on the automation part while they let you dabble in discretionary stuff... pretty good reward:risk imo.

Good luck either way.

 

[DJG]

Just got this email for you Sydney & Gold Coast people:

 

[VSntchr]

I got it too Dangaff.

It crosses my mind from time to time to apply..but so far am happy as I am. Something that I may do in the future though.

 

[Quantmil]

Is it possible to use your automated systems edge as a statistical edge in your discretionary trading?

Yes that is exactly what I hope to do with Propex.

 

[skc]

Today marks the 2-year anniversary since I joined a prop shop. I've decided to wirte a short commemorative post in numbers.

2717: Number of trades completed

61.95%: Percent of winning trades

21 out of 22: Months profitable

2: Number of months on holidays/paternity leave

28: Longest drawdown duration in days

5: Number of trading limit increases

12: Muliple of current trading limit relative to trading my own capital

10: Hours per day trading / researching / analysing / posting

14: Brokers report read every day

41: Max number of positions held overnight

4: Number of fat finger trades

2: Number of years ago when I fired this innocent post to TH.

TH is this the firm you are with at the moment?

10,000,000: Thanks to all the fellow forum members whom I have interacted with. You have educated, encouraged, supported, challenged and entertained me through my journey.

 

[SuperGlue]

21 out of 22: Months profitable

This is more than excellent.
Wish I could get half of your profitable months.

5: Number of trading limit increases

5 increases in two years, you must be the top gun of the prop shop.
No way for the ordinary trader to achieve trading limit increases except from a prop shop.

SKC, were you performing as good before joining prop shop?

 

[VSntchr]

Today marks the 2-year anniversary since I joined a prop shop. I've decided to wirte a short commemorative post in numbers.

2717: Number of trades completed

61.95%: Percent of winning trades

21 out of 22: Months profitable

Well done SKC, I love reading all your posts and I am glad that your wisdom extends to success with your trading operations.

Some solid results there!

 

[McLovin]

Great stuff, skc.

Well done.

 

[ThingyMajiggy]

Today marks the 2-year anniversary since I joined a prop shop. I've decided to wirte a short commemorative post in numbers.

2717: Number of trades completed

61.95%: Percent of winning trades

21 out of 22: Months profitable

2: Number of months on holidays/paternity leave

28: Longest drawdown duration in days

5: Number of trading limit increases

12: Muliple of current trading limit relative to trading my own capital

10: Hours per day trading / researching / analysing / posting

14: Brokers report read every day

41: Max number of positions held overnight

4: Number of fat finger trades

2: Number of years ago when I fired this innocent post to TH.



10,000,000: Thanks to all the fellow forum members whom I have interacted with. You have educated, encouraged, supported, challenged and entertained me through my journey.

Good job! Going by the brokers reports and overnight trades, and the TH reference, I take it you're trading stocks with Propex?

 

[CanOz]

Truly inspirational results SKC, a great success story!

 

[Julia]

Congratulations, skc. That's a great result.
I don't mean to be intrusive and just ignore the question if you wish, but I'd be interested to know the reasons you prefer trading at the prop shop rather than doing your own thing at home?

 

[skc]

Thanks everyone for the kind words.

5 increases in two years, you must be the top gun of the prop shop.
No way for the ordinary trader to achieve trading limit increases except from a prop shop.

Or they started me pretty small

SKC, were you performing as good before joining prop shop?

Performance (especailly relative performance to say the XJO) was actually better in percentage terms as markets were much more volatile.

Good job! Going by the brokers reports and overnight trades, and the TH reference, I take it you're trading stocks with Propex?

Yes. I am least unqualified to play in the equities "wading pool".

 

[Albert01L]

Nice comments.

 

[skc]

Congratulations, skc. That's a great result.
I don't mean to be intrusive and just ignore the question if you wish, but I'd be interested to know the reasons you prefer trading at the prop shop rather than doing your own thing at home?

Somehow I missed your question earlier.

I am trading remotely from home with them. So I retain all the benefits of working from home while gainning the many advantages of working for a prop shop. What I don't get however is the opportunity to sit next to other traders and learn/share/exchange/banter/laugh/swear/drink with them.

 

[nulla nulla]

.....What I don't get however is the opportunity to sit next to other traders and learn/share/exchange/banter/laugh/swear/drink with them.

G'day m8

Well done. Apart from the drinking you can get the rest of the "learn/share/exchange/banter/laugh/swear" here on the ASF forum.

 

[investortom]

Take a look at www.tradeview.com.au - i know they are based in Melbourne and do prop trading.

 

[Julia]

Somehow I missed your question earlier.

I am trading remotely from home with them. So I retain all the benefits of working from home while gainning the many advantages of working for a prop shop. What I don't get however is the opportunity to sit next to other traders and learn/share/exchange/banter/laugh/swear/drink with them.

Sounds good. Agree with nulla's suggestion. I'm not sure whether you seriously like the idea of sitting next to others etc. or if that bit is tongue in cheek. Depends how gregarious you are, I guess.

 

[DJG]

For Melbourne:

http://www.seek.com.au/job/27306123

 

[fuzzz]

Hello, i have a question for aussiefx and skc..

I mostly have experience trading equities and spot forex, those are the 2 instruments i traded the most for around 4-5 years with relatively consistent success in the last 2 years of trading them. Like every private retail trader it takes a while to build your own capital, so i am at a point now where i would like to take it to the next level and think that prop shops would be the way to go considering all the benefits of joining one of them.

Aussiefx, as far as i remember after reading the thread, you had a similar story of trading spot forex for around 4 years prior to joining Propex.. so could you trade forex with Propex?

Skc and Aussifx, you both say that you trade equities through/for Propex.. do you only trade ASX equities? or do you also trade US equities and/or FTSE equities, or any other ones?

and just in general what instruments does Propex mostly trade or allow/teach to trade for that matter.. equities, futures, forex, currency futures, indexes, bonds? i remember someone mentioned that you can choose any instrument you want, does that mean they allow and can teach you any of them?

thanks in advance

 

[skc]

Hello, i have a question for aussiefx and skc..

I mostly have experience trading equities and spot forex, those are the 2 instruments i traded the most for around 4-5 years with relatively consistent success in the last 2 years of trading them. Like every private retail trader it takes a while to build your own capital, so i am at a point now where i would like to take it to the next level and think that prop shops would be the way to go considering all the benefits of joining one of them.

Aussiefx, as far as i remember after reading the thread, you had a similar story of trading spot forex for around 4 years prior to joining Propex.. so could you trade forex with Propex?

Skc and Aussifx, you both say that you trade equities through/for Propex.. do you only trade ASX equities? or do you also trade US equities and/or FTSE equities, or any other ones?

and just in general what instruments does Propex mostly trade or allow/teach to trade for that matter.. equities, futures, forex, currency futures, indexes, bonds? i remember someone mentioned that you can choose any instrument you want, does that mean they allow and can teach you any of them?

thanks in advance

I don't think Propex has anyone trading FX, although I could be wrong as I don't work in the office and trade in my own little equity bubble. The main instruments are bonds and futures (indexes and commodities). And I think their new trader development courses would be centric around those. It would be surprising if they are able to teach you ANY instrument you choose... that seems impossible in terms of having the expertise available. However, if you are joining as an experienced trader and can over time demonstrate that you know what you are doing, they will probably let you trade most things.

All equity traders as far as I am aware trade on the ASX. I think there may be a guy or two doing ADR arbs etc.

Let see if aussiefx will respond to you more assuredly. Otherwise, take nothing from what I am saying and just email them yourself to find out.