Welcome to The Day Trading Mentor,
I would like to take this opportunity to introduce myself. My name is Tom Griffiths and I have been a proprietary futures trader my entire career.
For those of you that do not know what this means you may have heard of the term "local". Which is used to identify large traders on the trading floor that trade for themselves, as opposed to for a bank or commodity trading firm. Since the trading pits started to close down the majority of trades now take place electronically, but there are still professional traders that trade their own accounts renting office space at huge clearing firms such as Newedge, Marex, Fortis Bank and many others. I am such a trader.
For people that are very new to this industry and still looking to learn about who all the various players are in the world of trading I highly suggest watching this video about the life of a proprietary trader, or "local" here this documentary is called Floored and gives an excellent insight into what I and other proprietary traders do for a living.
I have risen from the ranks of a trainee trader moving to London with no salary or support to try and make it as a trader and had to quickly learn how to figure out how to make a living in this arena. It really is one of the most exhilarating industries in the world. I have sat next to traders that have had 100k days. And also seen many people enter the business and fail completely. Trading is very hard, it is not a get rich quick scheme by any means and you have to learn from the best to stand a chance of succeeding. I have traded in London, Gibraltar and Ireland. I only trade futures contracts (as do 95% of other professional traders) and I trade EVERYTHING. Whether it be oil, gold, equity indices, bonds.. you name it. Because day trading is not about studying balance sheets and long reports you are taught about in economics classes. It is about having an "edge". Finding a pattern that nobody else knows about and having the guts to repeatedly react to these patterns whilst remaining controlled.
There are so many myths out there about what trading is and how "the pros" do things. 99% of it is simply not true. This is why I decided to create this blog, to cut through all the nonsense and actually explain to people what this industry is really about, from someone that has been there and done it. I am not some faceless "trading guru", you can find exactly who I am and what I have done at my personal LinkedIn account here
On this site I write blog posts about insights and thoughts I believe you should really know if you are to stand a chance of succeeding in this game. You can find them here. www.thedaytradingmentor.com/blog
I am always open to answering your questions or writing an article you may feel will help you. You can always reach out to me here
I also have a members area where I show you EXACTLY how I trade with recorded videos of me trading in the live market with audio commentary, a 45,000 word Ebook detailing all my strategies, money management plans and lots lots more here
The members area is there purely to embark on the, not insignificant ,task of revolutionising the trading industry. I have had so many traders join trading firms I am at, or send me cv's and they have spent thousands on training courses on technical analysis, or forex trading or swing trading or any other of these buzz words and quite simple NONE of them work.
Here's the truth, to stand ANY chance of succeeding as a trader you must:
1. Trade futures contracts. Forex is a waste of time unless you are trading on the interbank market ( I explain lots about this here http://thedaytradingmentor.com/forex-futures-options-which-one/ )
2. You must focus on the depth of market. Technical analysis etc is ok as a very vague picture of what has happened in the market. But real professional scalpers do not use it as their main entry point. You need to know exactly what is happening, who is buying, who is selling, where are people's stop losses, are there any secret algorithms dictating the market and many other things and This information can only be found when you learn how to read the order book which is what I teach in the members area and also talk about extensively in my blog.
That's all from me for now but please enjoy the blog and get in touch with me whenever you like. I personally help dozens of people a day see the light and really make progress in their trading and am happy to add you to the list.