I meet with a ton of potential future SMB prop traders.\u00a0 Obviously there is a great deal of interest in those who\u00a0wish to trade with us.\u00a0 Hey that’s part of my job.\u00a0 Luckily for me I get to screen everyone who walks in our doors.\u00a0 So I enjoy most of the interviews.\u00a0 There have been a few two minute interviews.\u00a0 I have bluntly told\u00a0a few\u00a0they\u00a0were not prepared to trade successfully.\u00a0 But the question I find to be a complete red flag, not gonna be a good fit, has no idea what it’s gonna take to make it, not interested in learning the craft of trading, is: how much money will I have to trade with?<\/p>\n
This is\u00a0not a good question\u00a0to ask in an interview.\u00a0 You have no idea how to trade, you have never made a dime trading, yet you are concerned with how much money we are gonna give you to trade?\u00a0 Why?\u00a0 If you want to be a good trader your job is to get better everyday until you have developed the skills to successfully compete in this market.\u00a0 Everything else is nonsense.<\/p>\n
\u00a0A few weeks ago one of our promising new traders asked to have his tier size increased.\u00a0 My partner told him he would look at his work for the next\u00a0few weeks and let him know.\u00a0 The young trader was significantly positive for 14 straight days after the talk.\u00a0 Now that is called performing.\u00a0 That is a new trader who\u00a0gets to trade with more size.\u00a0 And the young man just keeps on getting\u00a0better.\u00a0<\/p>\n
Yesterday I got an email from a trader who should be doing much better.\u00a0 He asked me to increase his tier size.\u00a0 I told him the same thing that we told that other new trader.\u00a0 We will look at your work.\u00a0 Perform and you will be rewarded.\u00a0<\/p>\n
But this whole obsession with Tier Size and money is silly for intraday trading.\u00a0 It is not true that the more size you can trade with the more money you will make.\u00a0 It is not true that you need to be slinging 5k share lots around\u00a0to make good money.\u00a0\u00a0 The entire desk behind me today killed it today in HK, FNM, JPM trading small lots.\u00a0 And 5\/6 of them\u00a0are all new traders.\u00a0<\/p>\n
Work on getting better everyday.\u00a0 That is important.\u00a0 Trade with small size and then slowly increase your size as you are focusing on skill development.\u00a0 This is how you make solid money trading and develop the skills such that you can handle more size.\u00a0<\/p>\n
Good luck with your trading!<\/p>\n","protected":false},"excerpt":{"rendered":"