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How to get funded as a trader

  #19 (permalink)

Elite Member
NY NY
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Amp/CQG
Favorite Futures: Futures - CL/GC/YM
 
Posts: 42 since Aug 2011
Thanks: 31 given, 206 received

Small list of firms to check out

If you want to learn how to trade with low investment yet, feel the pain of loosing (which you have to do), do a few TopStep combines.

If you're constantly profitable, put some skin in the game as well. Fail, blow out your account on a single bad trade, pick yourself up and repete. We've all done it. And if you somehow start live trading and are doing it for a living in less than 2-3 years without going insane, you're in the top 1% of all day traders ever.

Below is a short list of prop firms that will 'possibly' fund you without at least a 5-10+K deposit. just pick up the phone and call them all. You have to be aggressive when you're essentially looking for something for nothing. Most prop firms will require capital (as the should if they are willing to provide liquidity) but you'll have to trade their way on their platforms using their training program. Which is not a bad thing. You'll always be learning now matter how you choose to trade.

Blue Point Trading - Proprietary Trading Firm is one I find very intreaging. I had a great conversation with the owner William this morning. We actually traded the CL via skype this morning during our first convo, Super sharp guy with a quite unique way to get funding for trading. If you understand what they are doing, from a business prospective its brilliant. More inovative than any prop I've seen.

It takes longer than say a TopStep but, their 'vetting' rules are not as strict but it will take a good 6months to start really earning money. Not a bad thing though.

And the Dax will wipe you clean faster than the GC if you're your not careful. My recommendation. Open a small futures account and chart/build your plan and strategies with the CL, and buy the QM. Never chart the QM. It's basically the same derivative just less volatile with much less liquidity - but it moves with the CL. W/ Lower margins. And with a 5-10K account you can put your money here your mouth is. You'll most likley loose it if you've only traded paper, but that's a good thing. You must fuck up to learn this business. You'll likley do it more than once.

The CL is the traders contract. Its all I trade. And while your 'Really' learning how to trade - the psychology needed is 80% of it and the only way to know if you really have the stomach for it, is to start doing it for real.

And start whoring yourself for capital as you start building a tangible track record.

I keep epeting myself, but Do a TopStep combine, trading only the CL and you'll find out what you're really made of and where you need to improve as a trader (or not, you may be that 1%, who am I too say) Many professionals I know can't complete one successfully. People who have published books and make their living trading fail the combine. I'm on my 4th one. I still trade my own money, but while I'm building my own account 1-2 CL contracts at a time, I'm also actively seeking funds from prop firms in tandem. I have not contacted the ones below, but if they have similar programs like TopStep and my new friends at blue point (they are based in France btw) I'm going to 'try out' for all of them as many times as I'm allowed until I get funded properly I.e 200K+ or I manage to do that with my own account.

And never think 'trading' is your only revenue stream. Start selling your live signals on Collective2. If you're not already, become a software engineer and mathematician and program commissioned quant strategies and indicators. (Although the best indicators on the planet are right on this website in the elite section. Without naming everyone, people like FatTails and Zondor are programming genius and give away 100* better work than crap I've bought. There are so many others as well, I just use their work or my own derivation in some way in almost all my trading strategies. I will buy those gents, Big Mike and a few others Ferraris one day.

Anyway, to recap again, start your combines and blue-point, open a live account, sell your signals on Collective2 and write software. And somone in a previous post mentioned starting a blog, write training videos - All while seeking funding. Make yourself and your skills known and available. Doing these things will up your personal stock when a fund manager is considering giving you money. Good luck and I wish you all the best.

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