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My Job As: A Trader

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    #92
    freeze4real
    Registered Users Posts: 2,540 ✭✭✭freeze4real


    Hi Idu,

    I see that myriad is looking for trainee traders, is this for a whole year ?


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    #93
    Idu
    Registered Users Posts: 1,152 ✭✭✭Idu


    Trainee course will be a 3 month internship and then at the end of the 3 months if we feel you have potential you'd be signing up as a trainee. After that it depends on your own progress and profitability etc. There's no set time frame


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    #94
    freeze4real
    Registered Users Posts: 2,540 ✭✭✭freeze4real


    Idu wrote: »
    Trainee course will be a 3 month internship and then at the end of the 3 months if we feel you have potential you'd be signing up as a trainee. After that it depends on your own progress and profitability etc. There's no set time frame


    Hi Idu,

    when will these new course start ?

    Edit: starts in september.

    Thanks Idu


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    #95
    eVeNtInE
    Registered Users Posts: 7,020 ✭✭✭eVeNtInE


    This post has been deleted.


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    #96
    Idu
    Registered Users Posts: 1,152 ✭✭✭Idu


    I didn't know anything about the markets, beyond a basic understanding, when I started.

    Plenty of books can give you a good insight. There's a list of them somewhere on the Investment and Markets forum


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    #97
    freeze4real
    Registered Users Posts: 2,540 ✭✭✭freeze4real


    Idu wrote: »
    I didn't know anything about the markets, beyond a basic understanding, when I started.

    Plenty of books can give you a good insight. There's a list of them somewhere on the Investment and Markets forum

    Idu can you talk about those who participated in the first training course.


    Where are they now ?


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    #98
    Idu
    Registered Users Posts: 1,152 ✭✭✭Idu


    I'd rather not talk specifics but we're happy with how the first class is progressing. It's a long road to becoming a successful, profitable trader and the first class only started 2 months ago


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    #99
    Mcoffs1129
    Closed Accounts Posts: 3 ✭Mcoffs1129


    Hi Idu,

    I have an interview with myriad trading this Friday. I was wondering have you any advice on what questions they may ask me? Thank you very much in advance.


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    #100
    Idu
    Registered Users Posts: 1,152 ✭✭✭Idu


    Interview will be very general. It's more of a get to know you thing than a maths test or anything like that. 2nd round interview is slightly different with more maths based questions


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    #101
    continental9
    Registered Users Posts: 1 ✭continental9


    Hi Idu,
    I would love to work for a prop firm, I from central Europe so the closest to me is Positive Equity (Split). Not sure if I got you right but first 3 months for new people were not paid then if you got accepted to become a trainee you would still need about 6+ months on average to start trading with live account and make some money.
    #1 Are Trainees paid while they're going through this (How much per month approx??) or is it 1st year no payment and later paid by profit?
    #2 You started at Positive Equity, got real good and decided to open your own prop firm so you don't have to split profits you make with the owners :) + other benefits? You used your own money you made to start the prop firm and split it among your traders or other investors got in with you on it?
    #3 I am stock trader, so was there a possibility at Positive Equity to trade stocks or only Futures?
    #4 Is it possible to work for you from home here from central Europe and trade stocks? I can trade on demo for some time to show you the results. Profit is profit, why be limited only to Futures?

    Thank you!


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    #102
    greenhoff
    Registered Users Posts: 2 ✭greenhoff


    Idu wrote: »
    Interview will be very general. It's more of a get to know you thing than a maths test or anything like that. 2nd round interview is slightly different with more maths based questions

    Hi There,

    I am not sure if you are still on this thread, but given your experience in working at a few Dublin Prop Houses wondering if you wouldn't mind giving me some advice!?

    I started getting onto trading 2 years ago, when I decided to do something different. I had a previous successful business background in and around banking as a consultant, but had never done any electronic trading of futures trading ever. I had a strong interest so decided to take the plunge and see if I could do it. The learning curve is tough and steep on your own. I would imagine learning this in an institution would have been a lot easier.

    I spent a lot of time looking at systems and learning the basics about the market, then doing a lot of testing etc. I do not have a math or programming backround, so some of this was hard at first. It also took a lot of work on myself to stay disciplined and focus on technicals and stats rather than fundamentals and various random ideas away from the system, but I believe a talented discretionary trader who builds his own system and sticks to it will do better than most automated systems. The most difficult thing for a retail trader or someone trying to develop this coming from a different background is learning to think in probabilities and accepting the randomness of it all

    My system works across all time frames, but to build up some income I will be focusing on shorter time frames. I look at 1-3 trades a day across all asset classes.1) Commodities, mostly energy 2) Currencies 3) Equity Indices and some Fixed Income It is a pattern recognition system looking at supply and demand imbalances with odds enhancers/context rules!
    I have spent the last 3 months full time trading simulation with the records audited through TradeStation and reconciled with my own spreadsheets where I manually input the trades and produce data. It tracks everything from strategy, timeframe, entry, trading period, equity curve, expectancy and a lot more.. Over the last 3 months for example I have been very dilligent in this as I am close to getting funding with investors.

    65 Trading days almost 100 trades using various timeframes, but mostly shorter time frames, with entries taken off a 5/15 and 60 min chart. Trading in multiples of 3 to scale out with one exit for stops. I customised the account to 30K starting capital and stayed with 3 lots per product and within the margin throughout the sample.

    Results over that period are 273% ROI. 13 weeks>no negative weeks. 50 days profitable with 9 negative days with 6 B/E days.. The expectancy is high, but I do not have much comparison as I do not know many traders.

    Over the next couple of months I will be looking to trade live with investor money, but I would really prefer to work for someone and get a quicker learning curve regarding execution and some other strategies. I came into this late and I am 40 so would any prop houses consider someone like me or would I have to show years of live results?

    Any thoughts on this, or any advice on the above figures would be helpful

    Thanks


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