Have you ever want to work full time as an equity trader with high leverage ratio and day trading lesson that you can get from a proprietary trading firm?
Step 1
Ask yourself: Are you currently an experienced day trader that can make profit consistently or a beginner but eager to learn how to day trade?
For experienced day trader, initial capital contribution is required but you can trade remotely or in their office.
The ratio for a beginner to survive is very low (I think only 1 out of 30 people can succeed at the end).
Moreover, almost all proprietary trading firms don't pay you salary. You only get paid if you make profit in your trading account and share the payout ratio with them. Most of them require initial capital contribution but they do provide training.
Please keep in mind that most beginner will fail and never see their initial capital contribution again (I think minimum is $5000).
This business is hard and is not for everybody.
Step 2
There are a whole bunch of proprietary trading firms on East Coast New York and Chicago area that you can choose from.
Proprietary Trading Firms Directory:
http://www.traderslog.com/proprietarytradingfirms.htm
The one I recommend is
•World Trade Securities - WTS Proprietary Trading Group LLC, is a privately owned proprietary trading firm based in NYC, New York and a member of the CBSX and is SEC registered.
http://wtsprop.com/index.html
They have three structures in place for traders and keep it very simple and clean no matter if your experienced or new you get to pick what structure you want.
-Structure 1: 90% payout / .0005 (.50 cents per 1000 shares) - capital contribution
-Structure 2: 99% payout/ .001 (1.00 per 1000 shares) - capital contribution
-Structure 3: 50% in-house training program, no capital required. Must pay $1,500 for training course. When you build your account to $5,000 your payout goes to 75-90%
Step 3
Key things to find out for a good proprietary trading firms:
- Leverage: 6:1 or 10:1 or 60:1
- Sponsorship: Series 7
- Mentoring: What the level
- Community: Are top traders gathered at this firm
- Pricing: .01/share or .007/share or .005/share, also other fees
- Tech: Execution Speed, Routing, Charting Tools and etc
- Payout: 90% or 95% or 99%; Weekly, Monthly; Direct Deposit or Check
- Selectivity: How difficult is it to get in
- Financials: Does the trading firm have plenty of capital or is it on shaky ground?
- Reputation: How well known is it
Step 4
Out of all these prop firms, some people say that the top 3 that offer a salary and provide good training are (but they are harder to get in):
1) Jane street Capital: http://www.janestreet.com/
2) SIG: http://www.sig.com/index.html
3) DRW Trading Group: http://www.drwtradinggroup.com/
Step 5
The only thing that works in this businss is these 3 little thing. And these 3 little things are the traders secret and what many do not understands.
1. Support and Resistance.
2. Cut your loss early.
3. Discipline
These are the only thing that works in this business. It’s what helps you stay alive in this business, and it’s what helps you make money in this business.
Custom Search
Sunday, July 19, 2009
Saturday, July 18, 2009
How to Understand Technical Analysis Chart
What is the secret to make consistent profit in stock trading no matter you are day trading, swing trading, or long-term investing? The answer is technical analysis.
1) Trading in the stock market can be very profitable or painfully unprofitable. With understanding of technical analysis, it will allow you to make better decision on entering or exiting a position.
2) Learn to read charts
Learn how to use technical analysis effectively and profitably. Technical traders only trade when they see a particular indicator or pattern in chart.
ChartSchool
http://stockcharts.com/school/doku.php?id=chart_school
3) Candlestick Chart
Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see compare the relationship between the open and close as well as the high and low.
Introduction to Candlesticks
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_cand
Candlestick Pattern Dictionary
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern_
4) Support and Resistance
Support and resistance are considered critical indicators for price continuation, stalls, or reversals. These are visual charted tops and bottoms of a stock.
5) Be consistent with your rules for trading
This is essential for profitability. You must have systemic rules, rules for your trading game that you must follow. These rules tell you when to get in and when to get out. Follow these rules strictly even if it means taking a loss now and then.
Trading Strategies
http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies
1) Trading in the stock market can be very profitable or painfully unprofitable. With understanding of technical analysis, it will allow you to make better decision on entering or exiting a position.
2) Learn to read charts
Learn how to use technical analysis effectively and profitably. Technical traders only trade when they see a particular indicator or pattern in chart.
ChartSchool
http://stockcharts.com/school/doku.php?id=chart_school
3) Candlestick Chart
Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see compare the relationship between the open and close as well as the high and low.
Introduction to Candlesticks
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_cand
Candlestick Pattern Dictionary
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern_
4) Support and Resistance
Support and resistance are considered critical indicators for price continuation, stalls, or reversals. These are visual charted tops and bottoms of a stock.
5) Be consistent with your rules for trading
This is essential for profitability. You must have systemic rules, rules for your trading game that you must follow. These rules tell you when to get in and when to get out. Follow these rules strictly even if it means taking a loss now and then.
Trading Strategies
http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies
Friday, July 17, 2009
Thursday, July 16, 2009
Market bounce back up
Market bounce back up in four consecutive days. Now it stay above its support line once again. If the earning and economic are good, then the market will restart its uptrend momentum.
DIA
QQQQ
DIA
Tuesday, July 14, 2009
Difference Between forex FAP turbo and Megadroid robot trading system
I have been using both Forex Megadroid and Fap Turbo automated trading systems. Here are their differences and advantages:
1) STRATEGIES and CURENCY PAIRS:
Forex Megadroid has internal strategies built-in: Conservative and Aggressive (short-term).
- It only trades EUR/USD in 1 Hour time frame.
Fap Turbo has two strategies shown on the setting parameters:
- Scalper (short-term): EURGBP, EURCHF, USDCAD, GBPCHF (15 Min)
- Long Term Trading: EURUSD (1 Hour).
2) Trading Hour and Take Profit and Stop Loss Setting
Forex Megadroid don't have the option to allow users to change their trading system hours nor take profit and stop loss setting.
Fap Turbo is more flexible and allow users to change trading system hours and take profit and stop loss setting for each currency pair.
3) ACTIVATION:
Forex Megadroid uses Clickbank ID for activation. You only need to do this once. It offers no expiration. This is better than Fab Turbo.
Fap Turbo Robot uses your account ID and expert advisor ID for activation. Fap Turbo robot needs updating every month due to expiration.
4) RECOVERY MODE:
Only Forex Megadroid has this. In the event of losing trade, the recovery mode will doubled the lot size for all trades until the loss has been recovered. However, I don't recommend to use the recovery mode. You can disable it by change it to False.
5) TRADE FRIDAY MODE:
Forex Megadroid has built-in mechanism to disallow trades on Sunday and Friday.
Fap Turbo allows the Friday trading mode to be turned on and off manually by users.
6) AUTOMATIC FOREX TRADING: Both system use MT4 platform to execute trades automatically as long as all the parameters are met.
MONEY MANAGEMENT: Both system have money management feature programmed in the software. Therefore, you can set the percentage of margin to use on each trade.
TRADING ACTIVITY: Forex Megadroid makes less trades than Fap Turbo.
7) Forex Megadroid & Fap Turbo both claim their robot system can double your account in a month or year. But please keep in mind to control your risk taking on each trade (no more than 5% or 10% of your available margin). Making consistent profit with low risk is the key to success in the long run.
8) I only trade two pairs of currency, one from each system. The profit it generated and win% are quite high and consistent. I tried all other pairs, but it seems like this is the best combination.
Fab turbo - EURCHF, M15
Megadroid - EURUSD, H1
1) STRATEGIES and CURENCY PAIRS:
Forex Megadroid has internal strategies built-in: Conservative and Aggressive (short-term).
- It only trades EUR/USD in 1 Hour time frame.
Fap Turbo has two strategies shown on the setting parameters:
- Scalper (short-term): EURGBP, EURCHF, USDCAD, GBPCHF (15 Min)
- Long Term Trading: EURUSD (1 Hour).
2) Trading Hour and Take Profit and Stop Loss Setting
Forex Megadroid don't have the option to allow users to change their trading system hours nor take profit and stop loss setting.
Fap Turbo is more flexible and allow users to change trading system hours and take profit and stop loss setting for each currency pair.
3) ACTIVATION:
Forex Megadroid uses Clickbank ID for activation. You only need to do this once. It offers no expiration. This is better than Fab Turbo.
Fap Turbo Robot uses your account ID and expert advisor ID for activation. Fap Turbo robot needs updating every month due to expiration.
4) RECOVERY MODE:
Only Forex Megadroid has this. In the event of losing trade, the recovery mode will doubled the lot size for all trades until the loss has been recovered. However, I don't recommend to use the recovery mode. You can disable it by change it to False.
5) TRADE FRIDAY MODE:
Forex Megadroid has built-in mechanism to disallow trades on Sunday and Friday.
Fap Turbo allows the Friday trading mode to be turned on and off manually by users.
6) AUTOMATIC FOREX TRADING: Both system use MT4 platform to execute trades automatically as long as all the parameters are met.
MONEY MANAGEMENT: Both system have money management feature programmed in the software. Therefore, you can set the percentage of margin to use on each trade.
TRADING ACTIVITY: Forex Megadroid makes less trades than Fap Turbo.
7) Forex Megadroid & Fap Turbo both claim their robot system can double your account in a month or year. But please keep in mind to control your risk taking on each trade (no more than 5% or 10% of your available margin). Making consistent profit with low risk is the key to success in the long run.
8) I only trade two pairs of currency, one from each system. The profit it generated and win% are quite high and consistent. I tried all other pairs, but it seems like this is the best combination.
Fab turbo - EURCHF, M15
Megadroid - EURUSD, H1
How to Choose The Right Forex Autopilot Robot Trading System and Broker
Do you know that there are Forex Trading Robot system that can do trading for you automatically and generate substantial profit? Let's find out.
1) I think we are all getting tired and frustrated with manual trading on Forex currency. Most people don't know that there are automated robot trading system that can help you make more profits with ease.
Forex robot trading is an extremely easy way to generate a large source of income from home on autopilot. A forex robot is an automated software that trades currencies 24/5 to generate profits.
2) You need to purchase either FAP turbo trading robot, or Forex Megadroid, or both. They are just one-time payment with 60 days money back guarantee. These trading robots really work and have proven record of success by other users.
Please keep in mind that by using the automated robot don't make you rich immediately. The purpose is to help you make consistent profit with very low risk.
- FAP turbo produce more trades with more paris of currency
- Megadroid only trades one pair of currency - less trades but very profitable with nearly 96% win (tested by other users)
3) Next, you need to find a good and lowest spread Forex broker with MetaTrader 4 trading platform. You can download a Demo account first to try.
Most trader use these brokers:
· Alpari - http://www.alpari-us.com/
· Forex.com - http://www.forex.com/
· FXCM - http://www.fxcm.com/
· FXPRO - http://www.fxpro.com/
· FXcbs - http://www.fxcbs.com/
4) Then you can install and set up the trading robot on your demo account (MetaTrader 4 trading platform) to test it. Once it's activated, all you need to do is keep your metatrader platform running. If you are satisfy with the result, then you can open a live account to let forex robot make money for you.
Resources
Fap Turbo
Forex Megadroid
1) I think we are all getting tired and frustrated with manual trading on Forex currency. Most people don't know that there are automated robot trading system that can help you make more profits with ease.
Forex robot trading is an extremely easy way to generate a large source of income from home on autopilot. A forex robot is an automated software that trades currencies 24/5 to generate profits.
2) You need to purchase either FAP turbo trading robot, or Forex Megadroid, or both. They are just one-time payment with 60 days money back guarantee. These trading robots really work and have proven record of success by other users.
Please keep in mind that by using the automated robot don't make you rich immediately. The purpose is to help you make consistent profit with very low risk.
- FAP turbo produce more trades with more paris of currency
- Megadroid only trades one pair of currency - less trades but very profitable with nearly 96% win (tested by other users)
3) Next, you need to find a good and lowest spread Forex broker with MetaTrader 4 trading platform. You can download a Demo account first to try.
Most trader use these brokers:
· Alpari - http://www.alpari-us.com/
· Forex.com - http://www.forex.com/
· FXCM - http://www.fxcm.com/
· FXPRO - http://www.fxpro.com/
· FXcbs - http://www.fxcbs.com/
4) Then you can install and set up the trading robot on your demo account (MetaTrader 4 trading platform) to test it. Once it's activated, all you need to do is keep your metatrader platform running. If you are satisfy with the result, then you can open a live account to let forex robot make money for you.
Resources
Fap Turbo
Forex Megadroid
Monday, July 13, 2009
Monday, July 06, 2009
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