This is much much better reply from you than earlier attempts.
Here, you have cautioned against trading again but there are two crucial differences from earlier attitude.
Definedge (Pune), Quantifycapital (Mumbai), Stockden (Kolkata)
are few very reputable trading rooms/desks open for retail traders.
They mentor while you trade too.
@maddy_Des
Can you kindly explain how the trading firms recruit and are all these contract jobs?
are there any trading firms where one can draw fixed salary and additional incentives for profits earned? Supppose if we mess up and SL gets hit do these tarding firms levy some penalty deducted from salary?
Generally asking out of curiosity and also may be helpful for new people
Everything depends on the level of the firm. Or you can say sophistication.
If one is that better, he will soon get registrations etc start managing funds for clients. So to stop brain drain they do give incentives.
HUGE. Google it. There are quite a few horror stories.
Pls post some google links on that
@maddy_Des thanks for the inputs.yes please elaborate or share links on few such stories
Do you mean as individual employees they were being held accountable?
Just google “trader fat finger”
you will get many stories.
That’s traders erroneously placing for instance in uk there was drunk oil trade scenario.
I too discourage people to not do trading because they want to earn big and thinking trading is the right way.
I encouraging some people who want to do it with passion.
7 years back when I started trading full time I watched charts crazy by forgetting eating and sleeping even the family for almost 2 years. By gods grace I got my best half who supported for my dream.
When people asked me to help them to start trading I just ask them the above question.
You can discuss with me while taking any trade.
sure how can i contact you
when I started I compared trading with engineering. 4 years engineering yearly 1 lakh Fee you get out and do job and get salary.
Trading :- just like engineering Fee = 1 Lakh. so 1 year have 52 Weeks, lets say 50 weeks,
2000/- risk 4000/- reward 50 weeks X 2000 risk is 1 Lakh just like the Fee you pay. after 1 year or 2 years then you get good and you wont loose money.
If you use exact 2% risk you can survive more than year with 1 Lakh/-
All you need is Plan,
Take trades with confidence.
don’t worry about profit or loss.
record, write down, screen short your trades and have your own book ( if you succeed you can publish your dairy , JK)
Mainly Risk management, take weekly trades, when you loose 2% no trade until next week.
Focus on protecting capital.
DON’T use LEVERAGE while LEARNING.
This is what I planed and continuing from past 3 months. Total money I lost are all went to broker charges, because I’m over trading. but Its fine you have to pay For learning.
@maddy_Des not that maddy. That fat finger error is known to me well.
But please explain on how a trading firm job works. How they share the profits. What about loss scenarios? Do they train people in algo trading?
Fixed salary plus 5-10 pc on profits.you could own large houses and lambo.if things go as per plans and on other side if you’re not upto then could be working for brokerage house.
I live in smalll town. I haven’t even visited Broker’s offices ever. My whole knowledge is based on books, news articles, Youtube, Documentaries & Hearsays.
So it’s better if you can get in touch with some real prop desk traders on twitter etc.
True most of my money goes to brokerage only
Thanks for the advice
Thanks for the recommendations.
Here’s the books, india print, i think - not sure, i ordered, just now.