Before I start the discussion, I would like to open the discussion How many people do you know that are as successful as they want to be do not take responsibility for their actions?
They always have excuses to succeed not fail.You know if something is not working do not go down with the sinking ship. Have a reason for everything you do so you can learn from it. Trading is hard because what is written in stone one day is thrown out the next.
Here is just one of the conversation with trader, which you never want you Continue reading “A Caveat Emptor for aspirants in Trading”
Takings from my last post A Prop Trader or Rogue Trader and my past posts on the same topic The Rogue Trader or The Rogue Banks and TO BE A ROGUE TRADER would like to share few more views over them. As I reveled in the past that prop trader don’t trade on behalf of clients but they use institution own money to trade.They speculate and their focus are is emerging markets.
The two principles on which they work :
- You need to be dispassionate about your trade, to control your internal hurdles that may attach you to it emotionally.
People talk a lot about prop traders but many of them know and many don’t know about them. Last night I was reading an article in The Guardian an interview by Quant trader recalled my short experience that I lived as a Prop Trader.
We play with the money that’s the shortest version what a prop trader do.There are two kinds of traders in the financial institutions.
1) Market-makers use their client’s money to make money for those clients, taking a commission.
2) Then there are prop traders like me beg you pardon I was. We use cash given to us by the bank to make money for the firm. Continue reading “A Prop Trader or Rogue Trader”