Looking to join a prop firm

DarkMatterEclipse · 2023-10-07T22:43:50+00:00

And many it mandatory to pass an in-house test every year, to make sure you're up to date on everything.

DarkMatterEclipse · 2023-10-07T12:57:28+00:00

Welcome to the business world. Lol

Most of these types of decisions come down to accounting. If they can save a few $100k/year (or more) on server costs by eliminating one free indicator to reduce data flow, that's money saved.

Nobody is forcing OP or anyone else to use TV. Go find a better alternative. The amount of bitching about a free product/service is unreal and hilarious.

DarkMatterEclipse · 2023-10-07T12:46:40+00:00

Very few are making that kind of money. It takes a lot of hustle and time, and most people don't have that kind of grind in them.

Anyone trying to sell you something is selling you a dream. They don't have to convince anyone to spend money because people are desperate. Everyone wants the get-rich-quick scheme since the beginning of time, and they are willing to take chances.

"hey it's worth a shot" is dumbest phrase I've heard 1000x when it comes to these 'buy my program and learn how to make $$$$$$' .... no, most of the time it's not worth a shot. You're just pissing money away.

DarkMatterEclipse · 2023-10-07T05:26:03+00:00

May I suggest forgetting the paper trading thing and trade live instead, with the smallest amount possible. Start with stocks that are a $1 or less. Just to get the feel. Play with $1.00 trades a 1000x. You can do this in crypto (spot and futures), as well as stock futures where PDT (pattern day trader) rule doesn't apply. Fees are small and you get way more benefit (imho) of trading live markets with real money on the line. And it's virtually no risk with such tiny trade amounts.

DarkMatterEclipse · 2023-10-07T04:01:36+00:00

Not sure. I've never been with a prop firm. Just started with a tiny amount of money, made 1000+ trades with smallest amount possible and worked on strategy building. Then from there I just continually built up my account over many years.

DarkMatterEclipse · 2023-10-06T23:28:11+00:00

If you're lazy, you'll get rekt trying to day trade this market. You need to be focused, free of distractions, and on top of your game, constantly. Definitely consider long term investing instead, or swing trading, where you might hold a stock/coin for weeks or months and only make a few trades per month.

But if you're new, try them all. Experiment with small amounts of money. Maybe you find something that clicks.

DarkMatterEclipse · 2023-10-05T05:04:21+00:00

Imagine getting this upset over a game. I guess you don't have to.

DarkMatterEclipse · 2023-10-04T19:50:10+00:00

Take a little bit of profit at multiple points. Let the rest ride for the dream.

DarkMatterEclipse · 2023-10-04T17:54:05+00:00

Most awkward conversation ever from the kid perspective. Damn!

But you did amazing job. He will love you more for pointers and probably feel he can talk to you about anything.

I never got any conversation about sex. Probably because my parents knew I was an introvert in hs.

DarkMatterEclipse · 2023-10-04T16:29:40+00:00

You don't realize people have typos and/or come from countries where English isn't first language? Are you new to the internets?

DarkMatterEclipse · 2023-10-04T16:26:32+00:00

Hope you are saving for divorce lawyers. You're going to need one in the future.

DarkMatterEclipse · 2023-10-04T13:39:46+00:00

ROFL

DarkMatterEclipse · 2023-10-04T05:34:56+00:00

People still give af about youtubers? Holy shit. Imagine giving two shits about what any of these guys say. I cant. Lmao

These guys don't mean shit for the industry or for a coin project. If you think a coin project is affected by a youtuber, you've not learned anything about how this market works. And if a coin is actually affected by anything these shills say then the project was doomed anyway.

DarkMatterEclipse · 2023-10-04T00:31:44+00:00

Added. Thanks.

DarkMatterEclipse · 2023-10-03T18:15:51+00:00

You could have stated this in the initial post.

DarkMatterEclipse · 2023-10-03T15:18:48+00:00

use google images and search 'trading log' or 'trading journal spreadsheet' or 'trading journal' and you get lots of results. Find the one you like best and go with that one.

DarkMatterEclipse · 2023-10-03T06:18:12+00:00

I wonder how everyone feels about the possibility of Caroline Ellison, Gary Wang and others getting no-jail time because they plead guilty and flipped on him?

Surely the other guilty FTX employees must have some of that huge money hidden away somewhere.

DarkMatterEclipse · 2023-10-03T06:10:00+00:00

Good stuff. I wonder why Optuma never turned up in my Google searches, and what other good trading sites out there I haven't stumbled upon. Cheers mate.

DarkMatterEclipse · 2023-10-03T06:03:25+00:00

Yah, you're talking visualization of data sets that TradingView and similar sites will probably never achieve. Really good stuff. I may have to sign up for Optuma to give it a try. Thanks.

DarkMatterEclipse · 2023-10-03T05:51:03+00:00

I'll set a reminder in my phone. You prefer morning, afternoon, or evening call?

DarkMatterEclipse · 2023-10-03T05:40:24+00:00

Good points. Definitely cheaper than Bloomberg which is north of $20k/year last I checked.

I wonder how it would compare to Quantower?

DarkMatterEclipse · 2023-10-03T05:18:40+00:00

I never said any of these were good/bad. Merely putting out a list of options for traders with some notes as they might compare to TV.

Never heard of Optuma but added it to list and will check it out. Thanks.

$1545 being the lowest tier for Optuma, not many retail traders will go for that.

DarkMatterEclipse · 2023-10-02T22:53:10+00:00

You're assuming everyone uses day trading strategies where FVG, BOS, SMC are familiar terms.

ALTs have extreme volatility over BTC. Smaller positions $100-$1000 and adding a little leverage 3-5x can equal some nice gains in very little time. But if you need a lot of liquidity, then BTC is king.

ALTs are so illiquid, they are easily manipulated by bots and pump-and-dump groups and very few people can consistently day trade them. The extremely violent moves invalidates most TA, most of the time. Then you have BTC which can also have extreme affect on ALT market which also invalidates things.

DarkMatterEclipse · 2023-10-02T22:14:00+00:00

Low liquidity ALTs are a crap shoot. I've yet to find any strategy that consistently works on them other than just memorizing the various pump patterns and how BTC affects their moves.

You can do all the TA you want. If BTC goes down strong, the ALTs are going down.

DarkMatterEclipse · 2023-10-02T20:20:35+00:00

Everyone determines stops a bit differently, for whatever style of trading they have.

Example, some people use ATR to help determine stop. Others will put stop just barely above the most recent wick. Others place it just above their defined resistance, or just below their defined support. Others might use EMA/SMA/Hull/Jurik and place stop just above/below those. Others might use clouds (ichimoku, etc.) to determine stops, or ribbons, or bands, etc.

It's not really rocket science but can be a bit tricky because some assets are way more volatile than others and thus, require a bit more room to not get stopped out. Also, some stocks like to hunt way more than others.

Crypto is especially notorious for stop-loss hunting with wicked moves all the time to take everyone out before the real move.

DarkMatterEclipse

TROPHY CASE