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Prop Shops in Australia

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Yep and then you need an ASFL and decent trainers and legals and an accountant on site and and and.
 
boofis said:
Nope.
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Yeh because I would adjust straight from poker to trading in 5 minutes?

And the fact that I was intelligent enough to do everything in my power to get the people and resources around me to be successful is a bad thing?

I love it when someone comes on and attacks someone personally, it usually means they are doing something right. You wouldn't see me come on and do that. I'm flattered you consider me that significant boofhead.

It's embarrassing that your going back to dig up quotes to post in here. Can't imagine any of the other serious traders in this thread doing that.
 
By my mates qualities I meant that he lacked those not had them.


I know 100% about the way I'm trading momentum in the equities is completely different. But I'm not a one trick pony. I'm doing well in futures now and applying various tactics.
 

It's not a bad thing at all that tech helped you, but just don't forget you'd still be **** if he didn't is all I'm saying...that and stop lying to children about the universe.

Anywho, my trolling is done here, oh and it really is terrible that I would look for evidence (quotes) to form an opinion (you'd still be unprofitable without tech).



And to avoid confusion, I'm boofis. Boofhead is another user lol. Please don't flatter him when you intend to flatter me.
 
pavilion103 said:
By my mates qualities I meant that he lacked those not had them.
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Those quantities wouldn't be in any of the good prop traders i know. Think of a cunning tick you in the balls street fighter. Then picture someone uglier. That is about perfect.
 
Ease up boof!

I couldn't win a hand of poker let alone a tournament!
I've shone the light not walked hand in hand down the road!
Haven't got the time for that and took PAV on as he has a brain
and knows how to use it.

If I can spot one thing its potential---its there in Buckets.
and frankly Pavs No maintenance.

Wish I had more employees like that!

- - - Updated - - -

Trembling Hand said:
Those quantities wouldn't be in any of the good prop traders i know. Think of a cunning tick you in the balls street fighter. Then picture someone uglier. That is about perfect.
Click to expand...


Rambo---Lives on the Sunshine coast!
 
Haven't got the time for that and took PAV on as he has a brain
and knows how to use it.

If I can spot one thing its potential---its there in Buckets.
and frankly Pavs No maintenance.
Click to expand...

Seems such a shame to waste all of that talent. You really should have a go at TST or Propex Pav. Maybe TopStepTrader is something you could do while you work, see if you have the discipline to pass the combine. If you have that then you'll get funded. Take your stats after a year or so to Propex, bingo, in the big time Pav.

Why play in the minors if you have what it takes for the big time?
 
Haha I knew there was an underlying reason for your hostility and it comes out... Wouldn't see such emotion from someone who was more surer of his opinions.

Yeh lucky I met the one person in the world who could help poor pathetic lowly me learn how to trade. I'd be a rubbish trader into perpetuity if I hadn't met Tech! Not

But he has accelerated my learning greatly, very grateful to him. Very lucky!

Let's keep it on topic boys and no need to derail the conversation like a petulant little child who's friend's toy is newer and shinier than his own!
 

I guess if you could win the odd Vegas poker tournament worth 10 million

That would be a good reason---
Mine is another----
 
I just think of it as a sports analogy, play the game while you're young enough, exploit the talent. I guess I'm sort of wishing my life had taken a different turn too. Not that i wasted my life by any means, but i just wish i was young again and able to take a punt on being a full-time Prop Trader at a young age. That's why i envy Pav, Boofis, Kid, Hav, Sky, and Sammy. They're all in the right place, go get 'em, now's your chance.

That's also why i'd love to have the cash to fund traders, would love to see them do really well at it.
 
Two positions Id hate to be in.

(1) Starting out.---The uncertainty--the under capitalization for life itself
(2) Unemployed and considered too old.---The certainty and the under capitalization of whats left of life.

Thankfully I employ myself!
 
CanOz said:
There's more than one, and a few ex-prop
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Awesome, i need to get outta the general chat sub-forum and in this sub-forum more. ill take it youre an ex-prop trader?

Also a few question for those that are prop traders, if you can answer


  1. Whats the difference between doing S&T at say Goldman and working at a prop shop like Propex?

    I want to trade but I also want to make a living off it, ive been told that propex tell their new employees not to expect any money for a year or too? is there any truth to this?

    Are math skills really that important? or is it just a test to make the numbers smaller?

    Any advice for an aspiring trader? like tips, books to read etc

    What has been youre best trade ever? what has been youre worst? How did you handle the situation?

    Last one, whats the hardest part about being a prop trader?
 
db94 said:
ill take it youre an ex-prop trader?
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lol, no DB, I'm just a semi-retired food industry exec and wanna be Prop trader, but getting too old too quickld:.

If i were in Australia I'd be beating down Guy Bowers door.

Am trying to find some places in Shanghai though, seems there are quite a few Prop Shops moving to Asia with the Dodd/Frank stuff.
 
db94 said:
Whats the difference between doing S&T at say Goldman and working at a prop shop like Propex?
Click to expand...
You don't have to wear a stupid suit and cloth around your neck and more importantly you don't have to kiss anyones **** to stay. oh yeah with prop you pick your own hours, days, weeks, months,. Want 6 months off? "No props have fun"

db94 said:
I want to trade but I also want to make a living off it, ive been told that propex tell their new employees not to expect any money for a year or too? is there any truth to this?
Click to expand...
About right for a trainee I would guess.


db94 said:
Any advice for an aspiring trader? like tips, books to read etc
Click to expand...

yeah. Get some bamboo, sharpen it, stick it under your finger nails and slowly insert it into your nail beds over a 4 hour period. Once you are about to be physically sick walk to the corner of your desk and smash your head into the corner of it as hard as you can. Once you wake up call up someone and pretend they are the risk department and beg and promise that you will do better in the arvo and can they increase your daily loss limit just this one (again!).......Then proceed to zig when you should zag. until you dig another hole that makes you spew all over you keyboard. thankfully this blows up your computer and you finally stop trading for the day and go to the pub which will finish up at the jack the rippers and dropping another $500 that you will not remember tomorrow.. That will get you partly used to trading size...... only partly.

db94 said:
What has been youre best trade ever? what has been youre worst? How did you handle the situation?
Click to expand...

Absolutely no idea either way. I click the buy and sell button about 200 times a day. I can hardly remember a trade number from this morning let alone 5 years ago.

db94 said:
Last one, whats the hardest part about being a prop trader?
Click to expand...

Lots. like should I bother putting shoes and pants on today. :
 
Do you have to be a short term day trader/scalper to be a prop trader? I am by no means a long term trader but I typically enter about 1-2 trades per day and they are usually closed out within a few hours or days if there is a run on.
 
Trembling Hand said:
You don't have to wear a stupid suit and cloth around your neck and more importantly you don't have to kiss anyones **** to stay. oh yeah with prop you pick your own hours, days, weeks, months,. Want 6 months off? "No props have fun"
Click to expand...
wow that's awesome! so you could potentially do it part-time then? Does anybody do this? I cant imagine this happening.



Trembling Hand said:
Absolutely no idea either way. I click the buy and sell button about 200 times a day. I can hardly remember a trade number from this morning let alone 5 years ago.
Click to expand...
So you're more of a scalper who uses the DOM and technical analysis then say someone who value invests for the medium-long term?
 
db94 said:
wow that's awesome! so you could potentially do it part-time then? Does anybody do this? I cant imagine this happening.
Click to expand...

Part-time as in a a few trades a week no. Part-time as in 6 months a year sure, if you are good enough.

db94 said:
So you're more of a scalper who uses the DOM and technical analysis then say someone who value invests for the medium-long term?
Click to expand...

No, no one scalps any more. I work in, reduce, rebuild and out of ideas all day. That is not scalping its intraday position trading.
 
Gringotts Bank said:
Why does no one scalp any more?
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Scalping was what specialist used to do on the NYSE back 20-30 years ago when they had large tick sizes and close to no brokerage because they were members of the exchange. They would own the order book and you would cross the spread to take a position mostly off their inventory.

Those days have long gone. I used to do trades like that on the SPI back in the day. Arb bots have seen that go too.

People like to say they scalp when trading intraday but thats just cuz they are tossers and actually don't know what it is. They just trade intraday.
 
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