CAN A FIRM ALWAYS SPOT THE NEXT GREAT TRADER?

No. But a prop firm can tell who has a poor chance to become a CPT.

To be good at anything will take everything you have. Not having developed the skills to work hard is a turn-off.

Trading is a skill learned by doing, not just by reading a lot, theorizing, or the faux art of “paper trading.”

THE PROS AND CONS OF RECRUITING EXPERIENCED TRADERS

Loyalty is a good thing to a point, but it cannot trump logistics and reality.

losing money should really bother you. If I am negative three days in a row, I spend a long evening on my couch with a bottle of red wine and comfort food.

As traders, we can all recite the memorable line from Wall Street: “A man looks in the abyss, there is nothing staring back at him. At that moment he discovers his character. That keeps the man out of the abyss.”

Traders don’t talk about how they want to trade, what they want to read about trading, or how they wish they could talk about trading. Traders trade, read about trading, and talk about trading.

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