Prop Shops in Australia

[Trembling Hand]

I have an interview next week after passing the first phase, is it bad etitiquette to ask how much an average trader trades with?

I can answer that for you. The average trader trades anywhere between 1 lot to 300 lots. Then there's the good ones.

[aussiefx]

I can answer that for you. The average trader trades anywhere between 1 lot to 300 lots. Then there's the good ones.

Hi TH,

I was after an average, 1-300 is more a range of everyone, no?

I'll just stick my neck out and ask.

[skc]

Hi TH,

I was after an average, 1-300 is more a range of everyone, no?

I'll just stick my neck out and ask.

You won't get an answer. They are pretty guarded when it comes to that. The response you'd get is "How long is a piece of string...".

But the trading limit there is much more than what most retail traders would ever hope to trade - as long as you are good enough.

[CanOz]

Interesting, been watching a few webinars by some scouts, like John Hoagland from these guys....Like an online Prop Shop...

I might give this a go for something to do in the evenings

CanOz

[CanOz]

Interesting, been watching a few webinars by some scouts, like John Hoagland from these guys....Like an online Prop Shop...

I might give this a go for something to do in the evenings

CanOz

Joe, is this along the lines of what you were thinking about doing?

[aussiefx]

I was accepted into their 4 week online trial in October. If that goes well then I get invited to trade at their Sydney office for a few months on a simulator. If I go well there I get offered a position.

Right now they're sending me lots of material about futures trading and markets which I have to go throug before the trial starts.

Did you make it to the next part Kurwa?

[KurwaJegoMac]

Did you make it to the next part Kurwa?

Don't know yet - we finished up on Wednesday this week and haven't recieved any notification yet except for them saying that they would be reviewing results yesterday (thursdays). I figure we might hear something today. Or maybe I was that terrible they're not going to even bother emailing me?

Have you started in house? How are you finding it?

[aussiefx]

No, in house starts on 12th November.

[aussiefx]

I see Guy keeps delaying the results for October group. First Wednesday, then Thursday now Monday. Wonder what the issue is?

[KurwaJegoMac]

Maybe he's focused on setting up the next batch (i think they got most of their accounts and stuff setup on Wednesday/Thursday) and then who wants to do work on a friday evening?? :P

Don't know really, could be lots of things. Have you been trading FX on a retail basis or did you work for a trading firm?

[CanOz]

If you guys don't make the cut this time, will you consider Topsteptrader?

CanOz

[aussiefx]

Maybe he's focused on setting up the next batch (i think they got most of their accounts and stuff setup on Wednesday/Thursday) and then who wants to do work on a friday evening?? :P

Don't know really, could be lots of things. Have you been trading FX on a retail basis or did you work for a trading firm?

I've been trading just my own a/c.

Never thought to look at futures but glad I did.

[aussiefx]

If you guys don't make the cut this time, will you consider Topsteptrader?

CanOz

Yes, if I don't get offered a position after the in house training then I'll definitely try the $150k Combine. Based on my performance in the Propex training I'd achieve the requirements so I'll see how things go.

[KurwaJegoMac]

If you guys don't make the cut this time, will you consider Topsteptrader?

CanOz

I certainly would. Based on the requirements and my time at Propex I think I'd be in the same boat as Aussiefx

[SuperGlue]

The rest of the month sim trading.

On the simulator trading, are you allowed to use your own system/indicators or just price & time only?

[aussiefx]

On the simulator trading, are you allowed to use your own system/indicators or just price & time only?

In the 4 weeks they give you, 2 are taken up doing drills. The remaining time is for you trade however you want. P/L is the key, obviously. But also learning from mistakes and showing consistency in your trading.

[havaiana]

On the simulator trading, are you allowed to use your own system/indicators or just price & time only?

Whatever you like. xtrader was used for execution, but also had access to CQG's platform for charts etc. Couldn't hold positions overnight and they want you to be pretty active.

With prop you've got guys staring at DOM's to get into and out of trades before anyone else, speed is key, i find it hard to imagine an indicator that will help with that (but i don't really use them so don't know).

I find it hard to see how a one size fits all trading system could work (not suggesting that's what yours is), for example a trading system is unlikely to be able to take advantage of all trading days, on a trending AND range/choppy day, then trending days could be completely different depending on the volatility etc.

My advice would be to be to focus on a market and how it tends to move in different circumstances. Then before each trading day looking more at things like what the levels are for the day (that a large number of traders will be watching) which are you expecting to get tested and what might the reaction be. What sort of day do you expect to see and how are some ways it could likely play out if you are right, how it will likely play out if you are wrong etc. What news is there for the day how could that effect things etc.

Here are some morning reports from propex to get an idea for levels etc. They put them up pretty much every morning
http://www.propex.net.au/alexs-updat...-to-the-rescue
http://www.propex.net.au/alexs-updat...-remain-steady

[aussiefx]

My 3 month in house training starts the 19th Nov in Sydney.

Mixed feelings going into it as I've heard some mixed reports but also some positive ones.

Will be an experience, either way.

[SuperGlue]

My 3 month in house training starts the 19th Nov in Sydney.

Congrats, Aus.

Get to put everything you know into practise.

All the best.

[CanOz]

My 3 month in house training starts the 19th Nov in Sydney.

Mixed feelings going into it as I've heard some mixed reports but also some positive ones.

Will be an experience, either way.

Congrats and good luck!