Propriety Trading firms in India and opportunities

#1
Hello all,
I would like to know if any of you work in a propriety trading firm in India is there any in chennai? Anybody can assist me with steps to get into one of them.

Much thanx :)
 

Galts Gulch

Well-Known Member
#2
Modalities to work for a Prop firm ...
1. Live trading (NOT DEMO TRADING) experience on 6 months minimum ... Verifiable through Trading Account Statements, not bank statements ...
2. Trading Strategy which can be explained in detail on paper
3. Risk Management Strategy - Money Management ... Margin allocation, Stop Loss and Take Profit Strategies etc
4. Maximum draw down (RDD) of not more than 30% and lesser than 10% of ADD ... across all the months ..
5. Minimum 6 Pips / Trade, including -ve trades, meaning if one has taken 10 trades and lost 3 trades, but still profit has to be minimum 60 pips ...

If you have all these covered, I can help you with few references, that I'm working with ...
Regards,
 
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bunti_k23

Well-Known Member
#3
galts pls mention the details of ur firm,where is it selection criteria and all iam interested
 

Galts Gulch

Well-Known Member
#4
galts pls mention the details of ur firm,where is it selection criteria and all iam interested
I'm so very sorry, if I gave a different Notion in my previous post.

I mentioned few rules to get in to a Prop firm. I do work with few Prop firms, I do not own any.

I'm a One Man Army. I trade my funds, I have few clients, whose accounts I trade and I do trade few accounts for Prop firms. But I do not have any company nor I own any Prop firm.

Regards,
 
#6
Modalities to work for a Prop firm ...
1. Live trading (NOT DEMO TRADING) experience on 6 months minimum ... Verifiable through Trading Account Statements, not bank statements ...
2. Trading Strategy which can be explained in detail on paper
3. Risk Management Strategy - Money Management ... Margin allocation, Stop Loss and Take Profit Strategies etc
4. Maximum draw down (RDD) of not more than 30% and lesser than 10% of ADD ... across all the months ..
5. Minimum 6 Pips / Trade, including -ve trades, meaning if one has taken 10 trades and lost 3 trades, but still profit has to be minimum 60 pips ...

If you have all these covered, I can help you with few references, that I'm working with ...
Regards,
Thanx Glats, i ve been in the Private client group advisory for a few years in a couple broking firms so have ample live markt experience. Have all dealing certifications. But have not traded my account during that period. I have been reasonably profitable, but been more of a positional trader. Dont have contract notes as they are all client accounts. I guess when you talk about pips your talking purely about intraday.
 

Galts Gulch

Well-Known Member
#7
Thanx Glats, i ve been in the Private client group advisory for a few years in a couple broking firms so have ample live markt experience. Have all dealing certifications. But have not traded my account during that period. I have been reasonably profitable, but been more of a positional trader. Dont have contract notes as they are all client accounts. I guess when you talk about pips your talking purely about intraday.
-ve ... It is not the question of intra day or positional trading ...
It is consistency of profitable trades, Relative and Absolute draw down's, Explainable strategy in terms of opening and closing of trades, stop loss and profit target strategies ... these things matter ... :thumb::thumb::thumb:
 
#8
Modalities to work for a Prop firm ...
1. Live trading (NOT DEMO TRADING) experience on 6 months minimum ... Verifiable through Trading Account Statements, not bank statements ...
2. Trading Strategy which can be explained in detail on paper
3. Risk Management Strategy - Money Management ... Margin allocation, Stop Loss and Take Profit Strategies etc
4. Maximum draw down (RDD) of not more than 30% and lesser than 10% of ADD ... across all the months ..
5. Minimum 6 Pips / Trade, including -ve trades, meaning if one has taken 10 trades and lost 3 trades, but still profit has to be minimum 60 pips ...

If you have all these covered, I can help you with few references, that I'm working with ...
Regards,
I agree with all the above points except for point 2.

Why in the world would any profitable trader give away his edge detailed on a paper.

Trading is a business and No business or company will give away its edge. How can you even expect someone with a edge to give it away and that too to another business. :p

The prop trading firm can take your edge and fire you for any reason and you can't do anything.
 

Galts Gulch

Well-Known Member
#9
I agree with all the above points except for point 2.

Why in the world would any profitable trader give away his edge detailed on a paper.

Trading is a business and No business or company will give away its edge. How can you even expect someone with a edge to give it away and that too to another business. :p

The prop trading firm can take your edge and fire you for any reason and you can't do anything.
Two Things ...
Any and every strategy is very Individualistic ... No one can use my strategy and make profit over a long period of time ... Because only I will know how to use my strategy to the best of its abilities ... Any indicator / set of indicators / any strategy is Constant ... It is The Trader who makes it his own by his trading approach ...I'm ready to lay out my strategy in detail, with all the indicators that I use in this public forum, leave alone set of qualifiers of a Prop firm ... How many can make the profit that I make? NOT EVEN ONE ...

Second, Any strategy, which can not be explained is not trust-able ... It is the process of Profit / loss which is more important than the profit / loss, there of ...

And ultimately, if a Prop company has to trust a trader with their capital, they have all the rights to know the strategy and whatever else they may wish to know ... it is rules of the game ... take it or leave it ...
 
#10
Two Things ...
Any and every strategy is very Individualistic ... No one can use my strategy and make profit over a long period of time ... Because only I will know how to use my strategy to the best of its abilities ... Any indicator / set of indicators / any strategy is Constant ... It is The Trader who makes it his own by his trading approach ...I'm ready to lay out my strategy in detail, with all the indicators that I use in this public forum, leave alone set of qualifiers of a Prop firm ... How many can make the profit that I make? NOT EVEN ONE ...

Second, Any strategy, which can not be explained is not trust-able ... It is the process of Profit / loss which is more important than the profit / loss, there of ...

And ultimately, if a Prop company has to trust a trader with their capital, they have all the rights to know the strategy and whatever else they may wish to know ... it is rules of the game ... take it or leave it ...

Exactly as expected. if you detail out your trading strategy(99%) and leave the that 1% which makes it work, then you not giving away your edge.

Hehe this is how every good traders mind works and you answered it correctly. Your subconscious mind will never give away that 1% which makes it all work. :D

So bottom line is a profitable successful trader will never give out his strategy in detail. :)
 

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