Thank you for those "friends" who stand by me.
I'm fine, I'm Ok and not that foolish to be upset by a cowardly moron.
I have met up with my option trader friend and was told that he had employed two new traders who have good IT knowledge for this round of recruitment.
For those who have sent me resume and not selected, I'm sorry I couldn't help much except hopefully he look into the resume again in the next round.
There was another Proprietary trading firm that advertised for prop traders recently in the newspaper, it was shocking to many of us when we were told that there were more than 900 applicants.
Most prop firms look for young traders preferably below 25 years of age without trading experience so that there is no emotional baggage. Of course, those with IT and engineering background, with good analytical skill and able to crunch numbers will have the edge in the selection.
But, don't be despair, successful traders come from all walks of life as long as you have the passion.
"True success is not only about achieving success through sheer hard work. It is also about achieving stellar results in what one has a genuine passion and interest for." - Wong Chun Han, from the Sunday Times today.
Ask yourself whether this interest in trading is strong enough for you to dedicate your life to the pursuit of success in this particular field.
Every trader tried to look for the "Holy Grail" strategy, it's just about 2 simple rules that somehow is so difficult to follow.
CUT YOUR LOSSES
RIDE YOUR PROFITS
For every trade that you take, these 2 rules should always be in your mind, every time, without fail.
Yes, talking is easy, cheap, doing it is damn difficult. Where to cut? When to cut? How far to cut? These are some the most asked questions from traders. Only the individual trader through trial and error can determine his own risk profile and how he want to trade, short, medium or long term trading.
There is no choice but to quit the industry if a trader can't train himself repeatedly to "Just Do It"
Wish all a Successful Trading journey.
6 comments:
yes, for the new traders, its really up to your interest, you have to start somewhere some place.
"its only money, whats the big deal", a phase i learn from a gambling friend long time ago.
for the experience trader (like myself), always think that you are already successful (not day dreaming) even before you do anything, everyday.
oh and thanks to you fat.
haha found this article in the same web. very much discribe what i'm doing.
http://www.traderslog.com/arbitrageurs/
"arbitrageur" is the term i should be using for my trading cum directional trades ofcos.
what wings and flying, haha thats arbitrage!
"It takes a lot of expertise … and a lot of trading … but by being both long and short in a market, an arbitrageur can limit his risk and make money in all kinds of market environments."
that is absolutely correct in saying that.
silly me, i always thought that arbitrage is a technical terms use only by the large institution and hedge fund aided by computerise trading programs, like the "HFT" and "dark pool".
what counts is the ideas that our trading system is based upon and build on that idea.
stop loss orders are never an ideal way to control one risk (but still one way), there are many ways out there if you care to find.
the success of your trading is not predicting the market direction and assuming the risk but how good is your risk management upon assuming the risk.
the more you have control over your risk exposure, the better your results will be in the long run. and it is the long run that is really count.
Welcome back Fat88!
And Coconut, now I understand spread trading better. Thanks!
wow, was away. much has happened.
btw, what blog does this twkia uses?
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