Attention Prop Traders: Are you prepared to capitalize on the massive leverage available to you?
How to become a massively successful proprietary trader or your money back.
Learn to trade stocks without losing your short and wasting the next 6 months.
Making the jump to trading for a living can be scary...
At least that’s how I felt sixteen years ago. When I left my family business in April 2000, the easy money of the dot-com mania was gone.
The only traders left were all long and wrong.
My biggest fear was learning to trade before my money ran out. At the time I gave myself six months to learn. My goal was to start paying my bills from trading profits by October. I had confidence but I had no idea what I was doing.
My greatest fear took hold quickly as the first couple of months went before I could blink. I paid my “traders tuition” but couldn’t get profitable. This is the biggest problem when learning to trade. Learning how to exit a losing trade is easy, how to repeat winning trades was the mystery.
I hated having a “real” job and was willing to do whatever it takes to make trading a success. I started to lower my goals but that wasn’t the problem. The problem was I needed a system. My goals didn’t matter, I just needed a dependable method. I had discipline but no system.
Negative Side Effects
After a couple of months I had plenty of knowledge but my capital was shrinking which lead me to book profits too early. I could hear the clock ticking and my parents whispering. It’s a bad place to be because you are burning money and time while you develop your system.
To be honest, I was doing what everyone else was doing so I wasn’t alone, not that it made me feel any better but I quickly realized it wasn’t me. If there was a solution I needed to find it fast.
How I Started to Make Money
Instead of paying attention to price, I started to monitor supply and demand. Big money moves stocks so I began tracking what they did on a larger scale. My the guys in my office were all focused on today’s price action and it was killing everyone.
A few conversations later with some people on the floor of the NYSE I was on the right track. Essentially what I discovered was institutions build and unload positions overs time. So I started asking if it was obvious who was in charge.
“ARE BUYERS OR SELLERS IN CHARGE? IS IT SO OBVIOUS A FIVE YEAR OLD COULD ANSWER?
Look at this chart of $AAPL, once you know the secret half the battle is won. Can you spot when buyers or sellers had control?
Once it became clear, trading became easier. New problems started to arise but I was making some money, enough to be motivated to know more.
- Learning when to do nothing.
- When to trade bigger.
- When to trade for cash flow.
You see a trade could be obvious, but the probability of profits needed to be determined. Imagine creating a list of stocks to trade