I thought it would be a good idea to post about my typical day at the prop trading firm. Refreshing the mind of my readers, I am currently working at a prop trading firm dealing with futures of stock indexes. As there is limited number of firms in my country, I will not talk about the specific product I am dealing with.
I am only doing the morning shift and is simply taught how to trade in the morning markets. Morning and afternoon market movements are vastly different. I do look forward to trading the whole day in the future but for now, I am satisfied with just 1 time slot due to my schedule.
Due to the firm being relatively small, the house rules are not especially stringent. Therefore, I feel that I can make a real difference to the company should I continue persisting in this job. The company has about 10 traders, of which around 5 are trading live accounts.
0600HRS: Wake up for the day. Exercise and wash up
0650HRS: Eat breakfast and prepare to go to work
0800HRS: Reached office, start up computers and prepare the proprietary trading software
0810HRS: Prepare for the opening of the market
0815HRS: Market opens
From 0830HRS to 1230HRS: Will be watching the market and doing some data entry and seeing how the market moves
1235HRS: Morning market closes, prepare to go home
1245HRS: On my way home
My schedule at this prop trading firm might shock many. I was shocked myself as we do not really have a morning brief about the market movements, and many times, the traders are really quiet and not doing any trades. However, since the MD is the one doing most of the trades, I believe there is in fact good experiences to be gained here.
My goal is to start trading a mock account in 2 weeks time, and understand the prop trading software really well. Hopefully, by the end of this year, I will be assigned a live account and start making some real money for the company.
I will post regular updates about my experience and hopefully, people will be able to benefit from my live experiences.
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